As per Zion Market Research, global geochemical services market is predicted to grow at a CAGR of 4.7% and reach almost USD 1310 million by 2025 in the years to come. Major players active in the global geochemical services market are Intertek Group plc, Bureau Veritas SA, ALS Limited, SGS SA, Geochemic Ltd., Shiva Analyticals & Testing Laboratories India, ACZ Laboratories, Inc., Activation Laboratories Ltd., AGAT Laboratories Ltd., and Alex Stewart International.
Endorsement Of Environmental Laws On Mining And Waste Management To Boost The Global Geochemical Services Market In The Years To Come
The mining sector is one of the primary origins of pollution. Hence, strict environmental laws have been implemented on mining and associated activities. Waste created from mining firms has toxic components that can’t be discharged squarely into the surrounding. Therefore, environmental agencies have implemented strict regulations and laws on the sector related to management of waste. So as to meet these laws, mining firms require installing complicated wastewater treatment hubs that entail high operating prices and are energy intensive. Water treatment systems are too costly, owing to the huge operating costs and capital investments. Hence, implementation of strict environmental rules is predicted to power the global geochemical services market in the coming years.
Asia Pacific Held A Huge Share Of Global Geochemical Services Market And Is Predicted To Continue The Same In The Forecast Period
On the basis of region, the global geochemical services market has been segmented into Latin America, North America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific ruled the global geochemical services market in 2017. This can be majorly credited to the increment in requirement for ores and metals in the area. Asia Pacific is also an industrial center. The market in the area is expected to grow at a significant rate in the years to come, majorly owing to the rise in requirement for metals and minerals, particularly in developing nations such as India and China.
This review is based on a report by Zion Market Research, titled “Geochemical Services Market by Type (In-field Based, Laboratory Based), by Service (Aqua Regia Digest, Sample Preparation, X-ray Fluorescence, Mixed Acid Digest, Fire Assay, Hydrogeochemistry, and Others) – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2025”
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The global geochemical services market is segmented as follows:
- Sample Preparation
- Aqua Regia Digest
- Mixed Acid Digest
- X-ray Fluorescence
- Fire Assay
- Laboratory Based
- In-field Based
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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