According to
a new market research report "Textile Testing, Inspection
and Certification (TIC) Market by Application (Textile Testing,
Textile Inspection, Textile Certification, & Toys), and Geography - Global
Forecast to 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.
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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There has
been a growing demand for testing, inspection, and certification (TIC) services
in the textile sector due to the rising demand for quality and standard textile
products. TIC services for textile sector comprise textile testing, textile
inspection, and textile certification. Textile testing is used for testing raw
materials, monitoring production, assessing the final product, and
investigation of faulty material among others. Textile inspection includes
visual verification (labeling and packaging) and examining the raw materials
and partially finished materials of textiles. Certifications for textile
products ensure that manufacturers followed the standards and quality &
safety norms during the production of textile products.
The report provides
a detailed insight into the TIC market which has been segmented on the basis of
textile application and geography. The said market has been segmented based on
textile applications as textile testing, textile inspection, textile
certification, and toys. The market for textile testing has been further
segmented into chemical testing (harmful substances), color fastness test
parameters, physical test parameters, and others. The textile testing segment
held the highest share in the overall TIC market segmented based on textile
application, in 2014, due to the implementation of stringent regulations laid
down by the Consumer Product Safety Improvement Act, which aims to ensure the
quality and safety of textile products.
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.
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This report
profiles the major players which are active in the TIC market. 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).
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