New York, NY, Aug. 02, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Geochemical Services Market by Type (Lab-Based and Infield-Based), by End-User (Commercial, Industrial, Infrastructure, and Residential), and by Application (Sample Preparation, Mixed Acid Digest, Hydro Geochemistry, Aqua Regia Digest, X-Ray Fluorescence, Fire Assay, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global geochemical services market was USD 950 million in 2018 and is expected to reach around USD 1,310 million by 2025, at a CAGR of 4.7% between 2019 and 2025.
Geochemical services are defined as research and study of origin, evolution, and distribution of various chemical elements that are present in outcropping minerals. Geochemical services deliver a diverse set of testing that is meant to analyze the geographical characteristics of a given location. The geochemical services market is technology-oriented and requires precise instruments along with highly skilled human force. The global geochemical services market is projected to exhibit notable growth over the forecast time period, owing to the increasing analysis demand for geographical materials like rock, soil, water, etc. This analysis type detects buried ore deposits through scale and type of metals found in various geographical materials. Furthermore, rising mining activities for myriad commercial and industrial applications globally is also expected to drive the market growth over the estimated time period.
Browse through 54 Tables & 31 Figures spread over 110 Pages and in-depth TOC on “Global Geochemical Services Market: Industry Size, Share, Trends, Growth, Applications, Analysis and Forecast, 2018–2025”.
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The effective technological upgrades witnessed in the geochemical services market has enabled to regulate geochemical labs at various mining locations, which has also contributed to the market significantly. However, the geochemical services market may be restricted by strict rules and regulations implemented by various governments pertaining to mining activities and the growing number of obligation over wastewater treatment plants.
The geochemical services market is fragmented on the basis of type, end-user, and application. On the basis of type, the market includes lab-based and infield-based services. In 2018, lab-based services held the major market share globally. Lab-based services exhibit greater feasibility and economic efficiency over infield services. Additionally, infield based services are estimated to show a higher CAGR over the forecast time period, as infield services are capable of curtailing the time lag between data collection and result findings.
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By end-user, the geochemical services market includes industrial, infrastructure, commercial, and residential. The industrial segment held the largest market share in 2018 and is projected to sustain its dominance over the forecast time period as well. The exponential growth of the Asia Pacific industrial sector is expected to bolster this segment further in the future.
The application segment of the geochemical services market comprises fire assay, mixed acid digest, sample preparation, aqua regia digest, hydro geochemistry, X-ray fluorescence, and others. In 2018, sample preparation held the largest market share and is estimated to hold its position over the forecast time period as well. X-ray fluorescence is projected to register the highest CAGR in the future. The functional use of X-ray fluorescence is to reveal the chemical composition of various material, which enables the method’s increased use due to the increasing mining activities globally.
Browse the full “Geochemical Services Market by Type (Lab-Based and Infield-Based), by End-User (Commercial, Industrial, Infrastructure, and Residential), and by Application (Sample Preparation, Mixed Acid Digest, Hydro Geochemistry, Aqua Regia Digest, X-Ray Fluorescence, Fire Assay, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/geochemical-services-market
The Asia Pacific region is the dominant region in the global geochemical services market, due to the availability of rich sources of minerals in the region and tremendous potential of various regional end-user industries. The Asia Pacific geochemical services market is projected to sustain its largest market share over the forthcoming years. The region’s rapid industrialization has stimulated the demand for a diverse range of minerals, metals, and fossil fuels as energy sources, which are to be used as raw materials either directly or indirectly for manufacturing various merchandises. The flourishing automotive sector is projected to further elevate the demand for various metals for car body frames and spare parts. Furthermore, oil & gas products are used as both fuel and raw material in various industries like petrochemicals, pharmaceuticals, fertilizers, and pesticides. The major contributors of the region are China, Australia, and India, as they possess rich sources of minerals and fossil fuels.
North America holds the second position in the global geochemical services market, owing to the region’s flourishing mining industry. A large share of the regional geochemical services demand originates from oil and gas extraction activities. Furthermore, the region holds a distinct and formidable market position due to its wide-spread industrial sector, which accounts for a remarkable share of the global mining-based and petroleum-based product industries. The U.S. and Canada are dominant countries of the North American geochemical services market.
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Europe holds the third position in the global geochemical services market. Russia, Germany, the UK, and Italy have a crucial role in the growth of the European geochemical services market. This regional market exhibits a high demand for geochemical services for various materials like minerals, metals, ores, oil, and gas. Russia with its rich source of minerals and oils is expected to contribute majorly to the European geochemical services market.
The Middle East and Africa is a pioneer petroleum supplier globally and is an important region in the global geochemical services market. The region is projected to exhibit significant market growth due to the consistently increasing production and exports of crude oil. Africa has rich sources of minerals, metals, and ores. The consistently growing investment for industrial applications and rising infrastructure activities in the region are also projected to fuel the region’s geochemical services market. Latin America possesses significant potential for geochemical services market in the upcoming years. Brazil is estimated to account for a major share of this regional market.
Some key players of the global geochemical services market are Activation Laboratories, Bureau Veritas, Nexus Gold, Shiva Analyticals, Intertek Group, SGS Canada, ALS Limited, ACZ Laboratories, Geochemic Ltd., and Alex Stewart International.
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This report segments the global geochemical services market into:
Geochemical Services Market: Type Analysis
- Lab-Based
- Infield-Based
Geochemical Services Market: End-User Analysis
- Commercial
- Industrial
- Infrastructure
- Residential
Geochemical Services Market: Application analysis
- Sample Preparation
- Mixed Acid Digest
- Hydro Geochemistry
- Aqua Regia Digest
- X-Ray Fluorescence
- Fire Assay
- Others
Geochemical Services Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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