Geochemical Services Market - Global Industry Analysis

Geochemical Services Market

Geochemical Services Market Size, Share, Growth, Industry Research, Forecast by 2028

Category: Energy & Mining Report Format : PDF Pages: 110 Report Code: ZMR-4090 Published Date: Aug-2019 Status : Published

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Geochemical services are defined as research and study of origin, evolution, and distribution of various chemical elements that are present in outcropping minerals. It involves studying a wide range of products derived from original geochemical as well. 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. The effective technological upgrades witnessed in the geochemical services market has enabled to regulate geochemical labs at various mining locations, which has reduced the downtime lag between data collection and result findings significantly. However, the geochemical services market may be restricted by strict rules and regulations implemented by various governments pertaining to mining activities and growing number of obligation over wastewater treatment plants, as these plants require large capital investments and incur high operating costs. Alternatively, the geochemical services market is expected to witness lucrative opportunities in the years ahead, owing to rapid industrialization in emerging economies of China, India, Indonesia, and Brazil.

Global Geochemical Services Market

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. 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 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.

The Asia Pacific region is the dominant region in the global geochemical services market, due to the rapid industrialization, 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.

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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