NEW YORK, Jan. 18, 2016 /PRNewswire/ -- Testing, inspection, and certification (TIC) companies are providing services to textile manufacturers, which ensure that their textile products meet various quality standards and regulations. Standards such as ISO/TC 38/SC 1 and ISO/TC 38/SC 20 are used in textile testing to ensure the quality of textiles. Textile testing includes chemical testing, color fastness, physical test parameters, and others. Chemical testing detects the presence of harmful substances in textiles. It involves different types of tests such as volatile organic compounds (VOCs), Registration Evaluation Authorisation and Restriction of Chemicals (REACH), Restriction of Hazardous Substances (RoHS), Substance of Very High Concern (SVHCR), polycyclic aromatic hydrocarbons (PAH), AZO dye testing, and others. Additionally, textile inspection includes visual verification (labeling and packaging) and the examination of raw materials and partially finished materials of textiles. It includes steak detection, faulty coating detection, contamination detection, hole by fiber breaks detection, and wrinkle detection among others.
The TIC market for textile application is expected to be driven by technological innovations in the textile sector, increase in worldwide trading of textiles, and others. However, domestic regulations and standards are one of the major factors restraining the growth of the TIC market. However, emerging markets such as China, India, and Bangladesh are creating various growth opportunities for the TIC market due to increased trading of textiles.
The key market players are following strategies such as new product launches and expansions to strengthen their geographical presence and service portfolio. For instances, Bureau Veritas (Europe) introduced a new "BV Smart" app in June 2015; it provides global regulatory news and information pertaining to textile, toys, and footwear industry.
The TIC market has been categorized based on textile application and geography. The market for textile application of TIC services has been segmented into textile testing, textile inspection, textile certification, and toys. The TIC market has been segmented based on geography into North America, Europe, APAC, and RoW. The said market in RoW is expected to grow at the highest CAGR of 6.9% between 2015 and 2020, due to the implementation of favorable trading policies and increasing awareness among consumers related to the quality of textiles.
The competitive landscape section comprises rankings of key players in the TIC market and strategies such as mergers & acquisitions, new products launches, expansions, and contracts & agreements adopted by them. Additionally, supply chain analysis and Porters' five forces analysis for the TIC market have also been included in this report.
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