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Geochemical Services Market Size, Share and Global Trend By Method (Laboratory Based & In-field Based), By End User(Mineral and Mining, Oil and Gas, Archaeological Survey and Others), and Geography Forecast till 2026

Region : Global | Published Date: Upcoming | Report ID: FBI100398| Status : Upcoming

 

KEY INDUSTRY INSIGHTS

Geochemical services are gaining importance rapidly because of their success in solving a vast variety of problems. The Geochemical environment defined by pressure, temperature, and availability of most abundant chemical components, determines the stability of minerals and fluid phases at any given point. The first step in the geochemical survey is to plan an orientation survey. This aims at determining the type and size of anomalies of known material deposit in different media such as soil, water, rocks, plants, stream sediments, etc.

It is essential in exploring minerals, ores, precious metals, oil & gas, etc. which are widely utilized in different industries. The purpose of detailed chemical analysis is to identify and delineate geochemical anomaly that would help in locating a deposit of minerals, and oil & gas probable contiguity of an already identified minerals. Thus, geochemical services not only interpret the probability of minerals or hydrocarbons deposits but also saves valuable time and money in exploring precious minerals.

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The geochemical services classified on the basis of the method and end user. The method is further classified into laboratory-based and in-field services. In most of the cases, it’s not feasible to carry out in-field services to identify the properties of soil, rocks or stream sediments. Thus samples are collected and sent to a laboratory for detailed analysis of soil, rocks or stream sediments to identify the possibility of mineral reserves. Geochemical services are intensively used in the minerals and mining industry, oil and gas industry, archaeological survey for identification of precious metals, ores, hydrocarbon reserves or ancient artifacts.


Geochemical services provide authentic data in selecting a site for the exploration of minerals, metals, and oil & gas. It reduces the overall exploration cost and drives the growth of the geochemical services market. Also, growing demand for precious metals, minerals, ores, oil and gas due to tremendous development has increased the exploration activities which is expected to increase the geochemical services market.


The authenticity of data produced by the company totally depends upon the expertise of personnel and geochemical services. These services are quite expensive to perform and require a lot of expertise to identify the accurate properties which restrict the growth in the market.


KEY PLAYERS COVERED


The top leading companies in geochemical services are Intertek Group, Infineum International, SGS SA, ALS Global, Weatherford International, Shiva Analyticals, Actlabs Group, Alex Stewart International, Agat Laboratories, Strother Services, Enviros Group, GeoMark Research, and Premier Oilfield Laboratories


SEGMENTATION






















 Segmentation 



 Details



By Method



·      Laboratory Based


·      In-field Based



By End User



·      Mineral and Mining


·      Oil and Gas


·      Archaeological Survey


·      Others



By Geography



·      North America (USA and Canada)


·      Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)


·      Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)


·      Latin America (Brazil, Mexico and Rest of Latin America)


·      Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)



REGIONAL ANALYSIS


The global geochemical service market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is active in the mining industry since the 19th century and over the past decades, more companies are have involved in mining activities. US and Canada are basically involved in an extensive exploration of oil and gas. To meet the enormous demand more companies are taking initiative for exploration activities which are expected to increase the demand for geochemical services. Europe is anticipating the growth of the geochemical services due to a rise in demand for metals, minerals, ores, and oil & gas. The Asia Pacific is dominating the geochemical services due to the immense production capability of minerals and ores such as coal, bauxite, copper, mica, etc. The tremendous development in aviation, automobile, construction, and many more have increased the consumption of metals and hydrocarbons which increased the exploration activities. Therefore, Asia Pacific is offering a lucrative market for the growth of the geochemical services. The presence of oil and gas exporting countries and mining activities are subjugating geochemical services in MEA. Petroleum-rich countries are investing a lot of money in exploration activities which are influencing the geochemical growth in MEA.


KEY INDUSTRY DEVELOPMENTS




  • In March 2019, SGS SA pleased to announce the launching of FAST (Field Analytical Services and Testing) solutions for the metal and mining industry. Fast provides real-time data acquisition in the field by pairing portable instrumentation and machine learning. It will provide the data within 24-48 hours and enable real-time decision-making capabilities for operators.
  • In September 2018, Leading Indian laboratory company Shiva Analyticals has been acquired by Cotecna Inspection S.A. Shiva Analytics provides a range of services in numerous sectors including food & beverages, minerals & ores, fuel & oils and industrial hygiene.
  • In April 2018, A MoU (Memorandum of Understanding) has been signed between India and Morocco to promote cooperation in the field of mining and geology for a period of 5 years. The main focus of MoU would be on the development and geological infrastructure for geoscience maps and geochemical maps.

Geochemical Services Market Size, Share and Global Industry Trend Forecast till 2026
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