Press release
Emerging Trends to Drive Positive Material Identification Market Growth at 7.6% CAGR Through 2029
Positive Material Identification Market Size
Positive Material Identification Market Size Growth Forecast: What to Expect by 2025?
The market size for positive material identification has experienced significant expansion in recent years. The market value which was $3.07 billion in 2024 is projected to increase to $3.26 billion in 2025, with a compound annual growth rate (CAGR) of 6.3%. This growth during the historical period is due to factors such as safety and quality assurance needs, industrial development, the progression of metal processing and fabrication, applications in aerospace and defense, as well as the expansion of the oil and gas industry.
How Will the Positive Material Identification Market Size Evolve and Grow by 2029?
Anticipated robust expansion is on the horizon for the positive material identification market. Predictions for this market size place the value at $4.38 billion in 2029, showing a compound annual growth rate (CAGR) of 7.6%. Such foreseeable augmentation can be linked to factors like advances in pharmaceutical integration, quality assurance in the construction field, growth in global commerce, progress in spectroscopy, and expansion in the recycling industry. The forecast period is marked by key trends, among which are developments in handheld devices, the integration of AI and data analytics, a focus on solutions specific to particular industries, the emergence of mobile and cloud integration, and improved non-destructive testing.
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What Drivers Are Propelling the Growth of Positive Material Identification Market Forward?
The expansion of oil & gas sectors is anticipated to drive the positive material identification (PMI) market's growth. Covering all stages from hydrocarbon exploration, data gathering, development, drilling, production, refining, distribution, and transportation, the oil & gas industry widely uses PMI for quality assurance and adherence to safety measures. This forms a crucial part of their production and asset integrity management. An example of this is in a report by the United States Energy Information Administration, the main agency of the United States Federal Statistical System. It documented a growth of 4% in natural gas production (equivalent to 4.9 billion cubic feet per day [Bcf/d]), averaging at 119 Bcf/d for 2022. Hence, it can be concluded that the surge in the oil & gas industries contributes significantly to the rise of the positive material identification market.
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Which Emerging Trends Are Transforming the Positive Material Identification Market in 2025?
Major players in the positive material identification (PMI) market are currently working on the creation of next-generation analyzers through the use of intelligent, cloud-based technology to enhance the capacity for real-time data analysis, improve identification accuracy, expedite compliance reporting, and enable better integration with existing corporate systems for more streamlined workflow administration. Next-generation XRF (X-ray fluorescence) analyzers which feature intelligent, cloud-connected technology are indicative of considerable advances in the field of material analysis. For instance, Evident, a Japanese firm specializing in scientific solutions, unveiled its Vanta Max and Core Handheld XRF (X-ray Fluorescence) analyzers in January 2024. This illustrates a notable leap forward in the domain of portable elemental analysis technology, especially designed for application in sectors like mining, recycling, and environmental testing.
What Are the Key Segments in the Positive Material Identification Market?
The positive material identificationmarket covered in this report is segmented -
1) By Offering: Equipment, Services
2) By Form Factor: Portable Analyzers, Benchtop Analyzers
3) By Technique: X-Ray Fluorescence (XRF), Optical Emission Spectrometry (OES) )
4) By Industry: Oil And Gas, Metals And Heavy Machinery, Automotive, S Recycling, Chemicals, Power Generation, Pharmaceutical
Subsegments:
1) By Equipment: Handheld XRF Analyzers, Portable Spectrometers, Desktop Analyzers, Optical Emission Spectrometers
2) By Services: On-Site Material Testing, Laboratory Testing Services, Consulting And Training Services
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Who Are the Key Players Shaping the Positive Material Identification Market's Competitive Landscape?
Major companies operating in the positive material identification market are Olympus Corporation, Thermo Fisher Scientific Corporation, Bruker Corporation, Hitachi Ltd., Ametek Inc., Malvern Panalytical, SGS S.A., Bureau Veritas, Intertek Group plc., Applus+, Shimadzu Corporation, TÜV Rheinland, TÜV SÜD America, SciAps Inc., Tribogenics Inc., Agilent Technologies, PerkinElmer, HORIBA, Spectris, Anritsu, Andor Technology, Buehne, Cofatech, Corning, Danaher Corporation, Deutsche Telekom, Element Materials Technology, TUV Nord, Torontech, QSX Instruments
What Geographic Markets Are Powering Growth in the Positive Material Identification Market?
North America was the largest region in the positive material identification market share in 2024. The regions covered in the positive material identification market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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