Strategic Acquisitions to Stimulate Production Sales of Chemical Testing Services

Chemical Testing Services Market

Growing need for holistic quality assurance solutions is fuelling the demand for chemical testing services. Increasing awareness and rapid industrialization are other factors contributing towards growth of the global market. According to the current scenario, there is increasing requirement with regards to quality control and chemical safety, which again is fueling the need for chemical testing services. Apart from this, rising government initiatives along with increasing chemical testing bodies is significantly stimulating the growth of the global market for chemical testing services.

A recent report anticipates that the global market for chemical testing services will expand at a moderate 5.0% CAGR during the forecast period, 2017-2025, to touch an evaluation of over US$ 30Bn by 2025-end. Companies namely TÜV Rheinland Group, Bureau Veritas, Eurofins Scientific, ALS LIMITED, Nippon Kaiji Kentei Kyokai, SCS Global Services and Lloyd’s Register Group Services Limited among others will witness a sizeable growth globally. Leading companies are intent on marketing schemes such as product developments and growing their product portfolio.

Bureau Veritas Acquires EMG

Bureau Veritas has acquired EMG for the betterment and expansion of its business. EMG is efficient in construction and building technical assessment. Also, works on project management services relating to commercial industries, institutes and government. EMG is helping Bureau Veritas in expanding its remarkable building and infrastructure service provisions. This also helps in strengthening the global position of Bureau Veritas and raising it to prominent strategic partner for renovation and construction inspection, project management, continuing in-service inspection, asset management and quality assurance.

Bureau Veritas is putting immense efforts in increasing its technical expertise and capabilities for expanding the value of its offerings. The solution-based approach of Bureau Veritas towards its client relationships is expected to improve with the help of customer-centric corporate values of EMG.

TÜV Rheinland Group Receives Accreditation for Testing Indian Imported Toys

India’s TÜV Rheinland Company is accredited for testing imported toys. The company received accreditation by National Accreditation Board, related to Testing & Calibration Laboratories. This step was taken after the notification passed by DGFT (Directorate General of Foreign Trade) that every toy imported in India should be associated with relevant test reports to cater to related standards. Government of India passed this requirement as it would be highly beneficial for the kids and children in India.

The new toys testing requirements include testing of inflammability and chemical content. It is witnessed that there would be increasing more demand for strict testing of toys, both that are electrically and manually operated. Every toy that is directed to children up till the age of 14 years will undergo chemical testing on a larger basis. Manufacturers must increase the adoption of chemical testing services as it is highly essential, especially with regards to safety.

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About Nikhil Kaitwade 45 Articles
With over 8 years of experience in market research and consulting industry, Nikhil has worked on more than 250 research assignments pertaining to chemicals, materials and energy sector. He has worked directly with about 35 reputed companies as lead consultant for plant expansion, product positioning, capacity factor analysis, new market/segment exploration, export market opportunity evaluation and sourcing strategies.