DUBLIN, Aug. 4, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/z4hbfv/textile_testing) has announced the addition of the "Textile Testing, Inspection and Certification (TIC) Market by Application (Textile Testing, Textile Inspection, Textile Certification, & Toys), and Geography - Global Forecast to 2020" report to their offering.
The testing, inspection, and certification (TIC) market is expected to reach USD 7,221.01 Million by 2020, growing at a CAGR of 4.6% between 2015 and 2020.
Textile Testing Market players such as SGS Group (Switzerland), Intertek Group plc (U.K.), and TUV SUD (Germany) have been focusing on geographical expansion, so as to broaden their portfolio and geographical presence. For Instance in February 2015, the SGS Group (Switzerland) opened a new softlines testing laboratory in Tianjin (China). The new lab offers testing services for various types of textiles, apparel, and leather products.
Increasing export of textiles from developing regions and growth of the technical textile market are some of the factors driving the testing, inspection, and certification (TIC) market. Small to medium sized TIC companies face challenges in terms of receiving accreditation as it requires heavy investment. However, various government organizations are providing incentives in the form of funds and relaxation of accreditations for the SMEs in the TIC textile market, as the latter are required to make huge investments to get accredited by accreditation bodies such as International Organisation for Standardization (ISO) and American Society for Testing for Materials (ASTM).
The global testing, inspection, and certification (TIC) market has been segmented into North America, Europe, APAC, and RoW. The studied market in North America has been further segmented into the U.S. Canada, and Mexico. The European Textile Testing Market has been segmented into Germany, Switzerland, U.K., Turkey, and others. Countries such as China, Japan, India, Bangladesh, and others are included in the APAC region. The said market in ROW has been further segmented into the Middle East, South America, Africa, and others. Europe was the leading region in terms of the market share in 2014, due to the presence of prominent market players such as SGS Group (Switzerland), Bureau Veritas Group (Belgium), Intertek Group PLC (U.K.), TUV Rheinland Group (Germany), and others.
Some of the key players in the Textile Testing Market include AsiaInspection (Hong Kong), BSI Group (U.K.), Bureau Veritas Group (Belgium), CTI (Centre Testing International) (China), Hohenstein (Germany), Intertek Group PLC (U.K.), SAI Global Ltd. (Australia), SGS Group (Switzerland), Testex AG (Switzerland), TUV Rheinland Group (Germany), TUV SUD Group (Germany), Eurofins Scientific (Luxembourg).
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SOURCE Research and Markets