Textile Testing | Inspection | Certification (TIC) Market worth $7,221.01 Million by 2020

The testing, inspection, and certification (TIC) market is expected to reach $7,221.01 million by 2020, growing at a CAGR of 4.6% between 2015 and 2020.

Browse 58 market data tables and 50 figures spread through 130 pages and in-depth TOC on “Textile Testing, Inspection and Certification (TIC) Market - Global Forecast to 2020"

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The key players profiled in the report are SGS Group (Switzerland), Bureau Veritas SA (France), Intertek Group Plc (U.K.), TUV SUD Group (Germany), TÜV Rheinland Group (Germany), AsiaInspection Ltd (Hong Kong), British Standards Institution (BSI) Group (U.K.), Centre Testing International (CTI) (China), Hohenstein Institute (Germany), SAI Global Ltd (Australia), TESTEX AG (Switzerland), and Eurofins Scientific (Luxembourg).

Increasing export of textiles from developing regions and growth of the technical textile market are some of the factors driving the testing, inspection, and certification (TIC) market.  Small to medium sized TIC companies face challenges in terms of receiving accreditation as it requires heavy investment. However, various government organizations are providing incentives in the form of funds and relaxation of accreditations for the SMEs in the TIC textile market, as the latter are required to make huge investments to get accredited by accreditation bodies such as International Organisation for Standardization (ISO) and American Society for Testing for Materials (ASTM).

Further breakdown of some applications such as automotive, electronics, construction & infrastructure, chemical, finance, logistics, and energy

The testing, inspection, and certification (TIC) textile market is growing due to factors such as the reduction in the cost burden incurred by textile manufacturers because of outsourcing of TIC services, increase in the world wide trading of textiles, technological innovations in the textile sector, and others. However, textile products take a longer time to get approved in the overseas market, which could hamper the growth of the TIC textile market.

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One of the objectives of the report was to analyze the market trends for various segments of the testing, inspection, and certification (TIC) market along with, forecasting their respective growth rates. Moreover, Porter’s five forces analysis, supply chain analysis, and market dynamics of the TIC market are also included in this report. The market dynamics comprise the drivers, restraints, opportunities, and challenges for the said market.

The testing,inspection, and certification market has been segmented based on geography into four regions which include North America, Europe, APAC, and Rest of the World (RoW). The report also estimates the market-size of the said regions.