Market Size of Global Textile Testing, Inspection and Certification (TIC) Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 7.50 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
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*Disclaimer: Major Players sorted in no particular order |
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Textile Testing, Inspection & Certification (TIC) Market Analysis
The Global Textile Testing, Inspection, and Certification (TIC) Market is expected to grow at a CAGR of more than 7.5% during the forecast period (2022 -2027). The COVID-19 pandemic has disrupted the TIC market significantly. COVID-19 has reduced manufacturing and production activities in several regions due to the implementation of lockdowns by many national governments.
The textile TIC market is expected to be driven by the introduction of new regulations and standards in the textile sector, technological innovations in the textile sector, and an increase in the worldwide trading of textiles. The textile industry is majorly being driven by the rising production of textiles and increasing trading of textile products. The global textile market size was valued at USD 993.6 billion in 2021, the U.S. is anticipated to be the largest market in the North American region for textiles. It is one of the largest producers, raw cotton exporters, and top raw textile importers. Fashion is the largest application segment in the region owing to the fast-changing fashion trends due to the increasing number of online fast fashion companies.
Automated systems, drones and integrated sensors are some of the technologies that have started to replace physical inspection, which is labor-intensive and prone to human error. TIC players value these new technologies, as they allow higher efficiency. However, they also create opportunities for new entrants. Finally, the rise of blockchain technology is full of promise for TIC players, some of which have started to investigate its specific applications. One of the main advantages of blockchain is the distributed storage of information and transaction records, thus making it immune to undetected manipulation and keeping it safe from information tampering.
