Positive Material Identification Global Market Report 2024

The global positive material identification market has grown strongly in recent years. It will grow from $2.88 billion in 2023 to $3.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. During the historic period, growth can be primarily attributed to several key factors. These include an increased emphasis on safety and quality assurance practices, the expansion of industrial activities, growth in metal processing and fabrication sectors, utilization of materials in aerospace and defense applications, and the notable growth observed within the oil and gas industry. These elements collectively contributed to the growth observed in the period under review.

The global positive material identification market is expected to see strong growth in the next few years. It will grow to $4.27 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The anticipated growth in the forecast period can be linked to various contributing factors. These include increased integration within pharmaceutical applications, a heightened focus on quality control in construction projects, the expanding landscape of global trade, advancements in spectroscopy technologies, and the burgeoning growth witnessed within the recycling industry. These elements are expected to drive growth in the forecasted period.

The growth of the Positive Material Identification (PMI) market is expected to be fueled by the expanding oil and gas industries. With a focus on hydrocarbon exploration, production, and distribution, the oil and gas sector extensively relies on PMI for quality control and safety compliance, crucial elements in asset integrity management. Notably, a report from the United States Energy Information Administration highlighted a 4% increase in natural gas output, reaching an average of 119 Bcf/d in 2022, underscoring the driving force of oil and gas industries in bolstering the PMI market.

The rising demand within the automotive industry is poised to propel the growth of the PMI market. A significant player in the design, manufacture, and sale of vehicles, the automotive sector utilizes PMI methodologies to ensure material quality during the manufacturing process. The annual Global Electric Vehicle Outlook report, released by the International Energy Agency, showcased a surge in electric vehicle sales, reaching over 10 million units in 2022 and projected to climb to 14 million the following year, accentuating the influential role of the automotive industry in driving PMI market growth.

Technological innovation stands as a prominent trend in the PMI market. Key players within this sector are prioritizing technological advancements to maintain their market positions. An example includes Rigaku Analytical Devices' launch of the KT-500 in April 2021, a portable LIBS analyzer equipped with HiRES Technology, enabling the evaluation of both ferrous and non-ferrous alloys. This advancement caters to mission-critical industries such as power generation, oil and gas, and aerospace.

Major companies operating in the PMI market are focusing on product innovations, like handheld X-ray fluorescence spectrometer (XRF) analyzers. Bruker's launch of the S1 TITAN in April 2021, equipped with a high-resolution silicon drift detector (SDD) and a graphene window, represents such innovation. This handheld XRF product line offers improved sensitivity and accuracy in elemental analysis, catering to various industries requiring precise materials identification.

In January 2022, Temasek, an investment management firm headquartered in Singapore, completed the acquisition of Element Materials Technology Group for an undisclosed sum. This strategic move by Temasek signifies its intent to broaden its scope within material testing services, capitalizing on Element's established expertise in offering comprehensive testing, inspection, and certification (TIC) services. Element Materials Technology Group, based in the UK, specializes in providing TIC services across various products, materials, and technological domains.

Major companies operating in the positive material identification market report are Olympus Corporation, Thermo Fisher Scientific Corporation, Bruker Corporation, Hitachi Ltd., Ametek Inc., Malvern Panalytical, SGS S.A., Bureau Veritas, Intertek Group plc., Applus+, Shimadzu Corporation, TÜV Rheinland, TÜV SÜD America, SciAps Inc., Tribogenics Inc., Agilent Technologies, PerkinElmer), HORIBA, Spectris, Anritsu, Andor Technology, Buehne, Cofatech, Corning, Danaher Corporation, Deutsche Telekom, Element Materials Technology, TUV Nord, Torontech, QSX Instruments

North America was the largest region in the positive material identification market share in 2023. The regions covered in the positive material identification market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the positive material identification market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The core offerings in Positive Material Identification encompass equipment and services. Equipment pertains to the tools utilized for analyzing and confirming material grade and alloy composition, essential for quality assurance and safety protocols. These PMI tools are instrumental in examining the component makeup of ores, soils, liquids, and powders. Variants of PMI tools include portable and benchtop analyzers leveraging X-ray Fluorescence (XRF) and Optical Emission Spectrometry (OES) techniques. The diverse spectrum of industries employing PMI comprises oil and gas, metals and heavy machinery, automotive, scrap recycling, chemicals, power generation, and pharmaceuticals.

This report provides positive material identification market statistics, including positive material identification industry global market size, regional shares, competitors with a positive material identification market share, detailed positive material identification market segments, market trends and opportunities, and any further data you may need to thrive in the positive material identification industry. This positive material identification market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The positive material identification (PMI) market consists of revenues earned by entities by providing services such as semi-quantitative chemical analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. The positive material identification (PMI) market also includes sales of PMI analyzers for analyzing and identifying material grades. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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