The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

During the projected period, the rising oil and gas sectors are expected to promote innovation in positive material identification production, hence driving the market.

The global positive material identification market is expected to grow from $2.66 billion in 2022 to $2.88 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The positive material identification market is expected to grow to $3.86 billion in 2027 at a CAGR of 7.6%.

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Global Positive Material Identification Market Segments Include:

• By Offering: Equipment and Services
• By Form Factor: Portable Analyzers, Benchtop Analyzers
• By Technique: X-Ray Fluorescence (XRF), Optical Emission Spectrometry (OES)
• By Industry: Oil and Gas, Metals and Heavy Machinery, Automotive, Scrap Recycling, Chemicals, Power Generation, Pharmaceutical
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global positive material identification market in 2021.

Major Market Players in the positive material identification market include Olympus Corporation, Thermo Fisher Scientific Corporation, Bruker Corporation, Hitachi Ltd., Ametek Inc., Malvern Panalytical, SGS S.A., Bureau Veritas, Intertek Group plc., Applus+.

In the positive material identification market, technological innovation is a prominent trend. To maintain their market position, major players in the positive material identification sector are focusing on technological breakthroughs. For example, Rigaku Analytical Devices, a US-based business specialising in identifying unknown compounds or verifying materials for quality assurance, will release the KT-500 in April 2021. The KT-500 is a portable LIBS (laser-induced breakdown spectroscopy) analyzer. HiRES Technology, a high-resolution echelle spectrometer capable of measuring carbon, is built into the Rigaku KT-500. Because it can evaluate both ferrous and non-ferrous alloys on a single platform, it is the tool of choice for positive materials identification (PMI) in mission-critical industries such as power generation, oil and gas, and aerospace.

The Positive Material Identification Global Market Report 2023  provides a positive material identification market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The positive material identification market forecast analyzes positive material identification market size, positive material identification market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Positive material identification (PMI) is an important non-destructive testing (NDT) technique used to ensure that the materials delivered meet the appropriate standards and specifications. These are used to ensure that the chemical composition of the metallic parts contains the correct amount of key elements and that material properties such as corrosion resistance meet the specifications. The PMI is a critical component of production and asset integrity management and is utilised in various sectors for quality control and safety compliance.

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