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The Chemical Testing Services Market size is forecast to reach US$11.2 billion by 2027, after growing at a CAGR of 4.5% during 2022-2027. Chemical testing services are used to test and analyze a wide range of chemicals to determine their quality, purity, volatility, environmental impact, and other properties. These services are essential in certifying chemicals that are used in a wide variety of different applications, ranging from industrial and commercial use to chemicals used in daily lives. Some common types of chemical analyses are composition analysis, contamination detection, chemical trace analysis, and material testing. These tests are commonly used for the certification of specialty chemicals, biocides, pharmaceuticals, food & beverage additives, and so on. The need for new regulations in various industries globally, as well as the introduction of new chemically induced crops, such as genetically modified organism (GMO) crops, is driving the demand for chemical testing services in the market. In this report, we will take an in-depth look at the chemical testing services industry outlook and analyze the market share of chemical testing services top 10 companies.
During the COVID-19 pandemic, many industries had suffered a tumultuous time, and it was no different for the chemical testing services market. Many governments across the globe implemented lockdown regulations and factories & production facilities in many sectors came to a halt. The supply chain was greatly disrupted as many businesses followed lockdown protocols. Chemical testing services are essential in many different industry verticals such as the food & beverage sector, the agriculture sector, the oil & gas sector as well as the medical sector. While there was a decline in production in industries like food & beverage and agriculture, the demand for the medical industry saw a steep increase as many cases of COVID-19 were constantly on the rise. Due to this, the demand for chemical testing services was highly dynamic. However, as the pandemic has subsided, many governments are resuming production and lifting lockdown protocols. Thus, the demand for the chemical testing services market is projected to rise greatly during the forecast period of 2022-2027.
Chemical Testing Services Market Analysis – By Type
Chemicals regulatory compliance testing held the largest share with 25.4% in the chemical testing services market in 2021. Chemical regulation has been one of the largest concerns for governments as there has been a growing demand for chemical safety for our health and the environment. Regulations such as the Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) and the Restriction of Hazardous Substances (RoHS) directive, which are both implemented by the European Union, are global regulations that mandate and address the use of various chemicals, and their potential impact on both human health and the environment. As such, this is driving the demand for chemicals regulatory compliance testing and will continue to do so within the forecast period (2022-2027).
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Chemical Testing Services Market Analysis – By End-Use Industry
The food & beverage industry held the largest share with 21.3% in the chemical testing services market in 2021. Chemical testing is of paramount importance in the food & beverage industry as it is essential in facilitating the safe application of chemicals used in the food & beverage sector and ensuring high product quality and integrity. It is especially important to test specialty chemicals used in the food & beverage industry to prevent adulteration and misbranding of food products. This is especially being driven by increasing demand for chemicals used in oils, bakeries & confectionary, staple food, and fast food. According to the Food & Agriculture Organisation of the United Nations (FAO), the total oils & fats production was estimated to be 241.1 million tons year-on-year in 2021 and is projected to grow by 3.7% by 2022. Similarly, meat production was estimated to be 352.7 million tons year-on-year in 2021 with a projected increase of 4.2% by 2022. A growing trend in the use of specialty chemicals in the food & beverage sector is one of the key factors propelling the growth of the chemical testing services market.
Chemical Testing Services Market Analysis – By Geography
The European region held the largest share with 38.7% in the chemical testing services market in 2021. The demand for chemical testing in Europe is especially being driven by regulatory bodies like the Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) and the Restriction of Hazardous Substances (RoHS) directive, which mandate chemical regulations not only in the region but also internationally. Moreover, safety certificates and stringent material testing and composition analysis by the European Union are constantly being implemented and improved to serve the demand of their consumers & industrial goods as well as the food & beverage sector. According to the European Commission, industrial producer prices rose by an estimate of 16.2% in the European Union year-on-year in 2020. Additionally, according to the Food and Agriculture Organisation of the United Nations (FAO), the total oils & fats production of Europe is estimated to increase to 81.1 million tons in 2022 which is a 10.7% increase from 2021. Due to these factors, Europe is dominating the chemical testing services market and will continue to do so within the forecast period 2022-2027.
Chemical Testing Services Market Drivers
The introduction of new regulations globally:
Regulations across the globe are becoming more stringent as the awareness for a cleaner environment and healthier alternatives are becoming increasingly popular. As such, different regulatory bodies are mandating more safety regulations and enforcing greener initiatives as a response. This, in turn, is increasing the need for chemical testing services that are required for chemicals regulatory compliance testing, materials testing, composition analysis, and contamination detection. For instance, in 2016, the Toxic Substances Control Act by the United States Environmental Protection Agency (EPA) was updated by introducing the Lautenberg Chemical Safety Act. This new law mandates safety reviews for a new number of chemicals that are present in active commerce and requires a safety finding for new chemicals before they are entered into the market. This proves to be a great driving factor for the growth of the chemical testing services industry within the forecast period of 2022-2027.
The increasing growth of new plants in the food & beverage sector:
As the global food & beverage demand increases, new innovative measures are being adopted to produce new variations of plants, such as genetically modified organisms (GMO) crops, which can be grown quicker and are have a higher nutrition value. However, these crops need to undergo extensive chemical testing before they can be introduced into the supply chain. According to the Food & Agriculture Organisation of the United Nations (FAO), the production for various essential crops, such as oilcrops, are estimated to increase by 3.7% year-on-year in 2022. Therefore, the increase in the production of new plants in the food & beverage sector is driving the growth of the chemical testing services market.
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Chemical Testing Services Market Challenges
Rapidly changing testing requirements globally:
There is an increasing amount of new chemicals being introduced and patented by companies, as well as new chemical products launching frequently, that require extensive testing. A consequence of this, is that the technology used by various chemical testing service agencies must frequently adapt to the ever-changing demands and meet testing requirements in a timely fashion. Moreover, the demand for testing in the pharmaceutical sector saw a tremendous hike during the pandemic, which was primarily due to the introduction of various medical products by different companies. As a result, chemical testing services had significant pressure to test and authorize as many products as possible during a short period of time. As such, rapidly changing testing requirements form a key challenge faced by the chemical testing services market within the forecast period of 2022-2027.
Chemical Testing Services Industry Outlook
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the chemical testing services market. The key companies in the chemical testing services market are:
1. Intertek Group plc
2. Bureau Veritas
4.Scientific Certification Systems, Inc.
7.TÜV Nord Group
8.Aspirata Auditing Testing and Certification
On September 1, 2021, Bureau Veritas, a leader in testing and certification, completed the acquisition of AET France, a France-based testing company providing product development and testing services for consumer goods market.
On March 2, 2022, SGS Group, one of the major players in the chemical testing services market, acquired Gas Analysis Services (GAS), an Irish gas analysis testing and instrumentation specialist group, which enhances their Industries & Environment Portfolio.
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The European region is estimated to dominate the chemical testing services market within the forecast period 2022-2027. This is primarily because the European Union mandates various regulations internationally through regulatory bodies like REACH and RoHS.
The food & beverage industry is heavily driving the demand for the chemical testing services market as many of the specialty chemicals used in the industry must undergo various chemical tests and be certified for use.
The growing trend for greener initiatives and improving standards for safety regulations are driving the need for new mandates and regulations which are, in turn, driving the chemical testing services market growth.
The key players in the chemical testing services market are Intertek Group plc, Bureau Veritas, SGS Group, Scientific Certification Systems, Inc., and TÜV Rheinland.
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