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", published by marketsandmarkets, 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..
Browse 58 market data tables and 50 figures spread through 130 pages and in-depth TOC on “Textile Testing, Inspection and Certification (TIC) Market - Global Forecast to 2020"
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Testing, inspection, and certification (TIC) services helps manufacturers ensure that their products conform to technical safety and quality related standards and regulations, which in turn increases the marketability of their products and reduces the pre-production cost of textiles. Examination of traded goods purchased from buyers by end-users and checking whether they comply with the buyer’s specification and expectations comes under inspection services. Certification of textile services provides confirmation of test or inspection done against governments and international standardization institutions’ set of pre-defined standards. Certification of textile helps manufacturers trade globally, as it assures buyers that a product complies with the technical safety, performance, and quality related regulatory standards.
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Various factors such as the introduction of new regulations and standards in the textile industry, outsourcing of TIC services, technological innovations in the textile sector, and increase in worldwide trading of textiles are driving the overall testing, inspection, and certification (TIC) market. The TIC market players are adopting strategies like expansion and new product launches to grow and sustain in the said market. The top companies in the TIC market include Intertek Group PLC (U.K.), SGS Group (Switzerland), TÜV Rheinland Group (Germany), TUV SUD Group (Germany), and Bureau Veritas (U.K.).
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.
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The Intertek Group PLC (U.K.) is another major player in the TIC market. The company offers services such as textile and apparel inspection, textile auditing, textile certification, textile testing, softlines testing, chemical testing, and others. Intertek’s textile testing services include eco-textile testing, fiber identification, performance testing, thermal & water vapor resistance testing, and flammability testing. Its testing services ensure that products meet quality, health, environment, safety, and social standards. Moreover, the company has been focusing on emerging markets to leverage its capabilities in the textile sector.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.
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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