The global Geochemical Services Market size is projected to reach a CAGR of 13.5% from 2023-2030.
Geochemical is a study of the origin, evolution, and distribution of various chemical elements on Earth that are contained in rock-forming minerals. These services help to analyze where petroleum, metals, water, and commercially valuable minerals are located. It is also being used to trace leaks from waste disposal sites and track and understand fluctuations in the earth’s climate.
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The increase in demand for metals, ores, and minerals is expected to augment the geochemical services market for the mineral & mining industry in the near future. Technological advancements in geochemical services and technology are expected to make the mining process more efficient and effective and enable the mining of valuable minerals without causing much harm to the environment which will further provide lucrative opportunities to the market.
Recent Developments
· March 2021 - Fugro has opened new state-of-the-art marine chemistry and biology laboratories within the Heriot-Watt University Research Park in Edinburgh, the U.K. These newly developed laboratories would analyze a wider range of environmental contaminants in marine sediments, biota, and water, from background trace levels to more contaminated sources.
· July 2020 - SGS SA opened its new state-of-the-art commercial geochemistry laboratory in Tarkwa, Ghana. The new laboratory is ISO/IEC 17025 accredited, and it provides atomic absorption spectrometry (AAS), microwave plasma emission spectrophotometry (MP-AES), and portable X-ray fluorescence spectroscopy (pXRF).
Prominent Players
· Bureau Veritas SA
· Intertek Group plc
· SGS SA
· ALS Limited
· Shiva Analyticals & Testing Laboratories India
· Geochemic Ltd.
· Activation Laboratories Ltd.
· ACZ Laboratories, Inc.
· Alex Stewart International
· AGAT Laboratories Ltd
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Asia Pacific to Dominate the Market
- Asia Pacific accounted for the largest market in 2021. The region is expected to grow significantly during the forecast period.
- The growth is majorly due to government regulations that support the oil and gas and mining sectors with renewable resources. China, India, and Southeast Asian countries are poised to be potential markets.
Geochemical Services Market Segmentation:
On the basis of type
· Laboratory-based
· Infilled-based
On the basis of service type
· Sample Preparation
· Mixed Acid Digest
· Hydro geochemistry
· Fire Assay
· X-ray Fluorescence
· Aqua Regia Digest
· Others
On the basis of end-user
· Mineral & Mining
· Oil & Gas
· Archaeological Survey
· Others
Based on region:
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
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Frequently Asked Questions
· What are the years considered to study Geochemical Services Market?
· What is the compound annual growth rate (CAGR) of the Geochemical Services Market?
· Which region holds the largest market share in Geochemical Services Market?
· Which is the fastest growing region in Geochemical Services Market?
· Who are the major players in Geochemical Services Market?
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