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The global geochemical services market size reached a value of around USD 1.15 billion in 2023. The market is expected to grow at a CAGR of 4.60% between 2024 and 2032, reaching a value of around USD 1.72 billion by 2032.
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Geochemical services refer to the services that offer specialised study of geochemistry, the study of the formation, history, and distribution of chemical elements on Earth that are found in rock-forming minerals and the by-products made from these elements. Natural resource exploration such as oil, minerals, and natural gas is significantly supported by geochemical services, as these services aid in the analysis of locations where commercially valuable minerals, petroleum, water, and metal can be found.
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By type, the market is segmented into in-field based and laboratory based. Based on application, the market is divided into scientific research, industrial, and statistical. On the basis of services, the market is categorised into sample preparation and proficiency testing, among others. The regional markets for geochemical services are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model, along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global geochemical services market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
As per the geochemical services market research, the proficiency testing services segment is expected to expand at a significant rate as a result of its expanding use in analytical geochemistry labs. Proficiency testing increases the analytical precision of geochemical analysis and offers self-help tools for identifying issues with data correctness so that remedial action can be implemented quickly. Additionally, proficiency testing boosts exam standards, offers a comparison with other labs, and gives staff information about the lab's performance, thereby expanding the market for geochemical services. Meanwhile, sample preparation services will likely account for a sizable portion of the market, with microwave digestions employed in sample preparation to get the samples ready for instrument analysis. These methods precisely maintain temperatures to guarantee effective digestion.
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Geographically, Asia Pacific is one of the leading regions in the global geochemical services market, due to the significant demand for metals and ores in the region. Due to the rising demand for minerals and metals, particularly in developing nations like China and India, the market for geochemical services in the region is expected to grow at a high rate over the forecast period. Rules and regulations of various governments in the region that encourage the use of renewable resources in the mining and oil and gas industries are further propelling the market growth. The geochemical services market demand is also being fuelled by the vigorous development of new geochemical laboratories offering a wide range of services, including base metal testing, pharmaceutical and raw material testing, and others, in emerging economies like China.
Bureau Veritas Group, founded in 1828 and headquartered in Hauts-de-Seine, France, is a leader in testing, inspection, and certification worldwide. It serves industries such as commodities and agriculture, oil and gas, food, automotive and transport, chemicals, financial services and public sector, building and infrastructure, marine and offshore, consumer products and retail, and power and utilities.
SGS SA, with its headquarters in Geneva, Switzerland, is one of the world’s major testing, inspection, and certification companies. Founded in 1878, the company inspects, analyses, and monitors raw materials, food, petroleum, consumer goods, crops, chemicals, and production machinery for compliance with industrial standards and local regulatory requirements, including tax and duty.
Actlabs Group is a multinational corporation that was created in 1987 and has its headquarters in Ontario, Canada. The Actlabs Group offers contractual analytical services for all facets of analysis, from ordinary quality control procedures to academic research applications. For the mining sector, its regional full-service laboratories include custom standard reference material creation, on-site sample preparation, mineralogy and metallurgy services, classic and cutting-edge geochemical analysis, and mine site laboratories.
Other market players include Intertek Group plc, and ALS Limited, among others.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Services |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Geochemical Services Market Size
Geochemical Services Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global market for geochemical services attained a value of USD 1.15 billion.
The market is projected to grow at a CAGR of 4.60% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 1.72 billion by 2032.
The major drivers of the market include the growth in the mining sector and increasing demand for commercially valuable minerals and metals from various end-use industries.
The increasing deployment of geochemical services in archaeological studies and technological advancements in geochemical services and technology are the key trends propelling the growth of the market.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Sample preparation and proficiency testing, among others, are the major services in the market.
The various applications of geochemical services in the market are scientific research, industrial, and statistical.
Geochemical services play an important role in understanding the mechanisms that result in commercial concentrations of minerals, whether they are caused by hydrothermal, magmatic, metamorphic, hydraulic (both surficial and subterranean) or weathering agents, or a combination of these.
The primary types of geochemical services in the market are in-field based and laboratory based.
The major players in the geochemical services market, according to the report, are Bureau Veritas Group, SGS SA, Actlabs Group, Intertek Group plc, and ALS Limited, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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