Potential Impact of COVID-19 on Certificates Market

Certification services ensure that a product has been manufactured following the specified global standards; hence it is safe and secure. The standards are developed, designed and published by the different government organizations and non-government standardization institutions globally. The growing demand for safety and quality services are one of the major driving factors for certificates market globally. Furthermore, companies involved in certificates industry offers services such as shipments valuation performance of products, industrial inspection, outsourcing of laboratories, ensuring imports comply with international and domestic standards and supplier evaluation among others.

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The certificates market has been segmented by application into consumer products, petroleum, environmental compliance, agriculture, and mining among others. Furthermore, environmental compliance is segmented into soil, air, water and occupational hygiene. Petroleum segment is segmented into biofuels, refined petroleum products, petroleum cargo, feedstock and others. In addition, Consumer products is segmented into appliances, accessories, apparel , textiles, food & beverage, footwear, juvenile products, personal care, toys among others. Agriculture is further divided into seed and crop, food safety and quality, commodities and others. Mining is further segmented into mineral processing, geo-analytics, mine site laboratory, mineralogy among others.

Certificates ensure proper assurance to the end-users and customers that the global regulations standards have been strictly followed by the manufacturing companies in order to meet the product quality. The growth of certificates market has increased globally, owing to the increasing consumer awareness about the product quality in every sector. Furthermore, the robust growth of the certificates industry is also influenced by growing globalization of international standards and laws along with introduction of new standards due to the improved safety standards and legislation and development of technology. Growing number of trade practices exports globally is fueling the certificates market.

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Products without authentic certification are not considered for sale in certain countries. Companies primarily focus on proper certification through quality check and audit for business expansion. Furthermore, audit along with follow-up processes through different certification bodies assures that the company has standard safety management systems. The lack of domestic government directives and internationally accepted standards are some of the restraining factors may hinder the growth of this market.

North America and Europe dominated the market for certificates market in 2014 in terms of revenue followed by Asia Pacific. U.S. dominates the market for certificates market in North America. UK and Germany dominates the market for certificates in Europe. Economies such as China, Japan, India, Australia and Malaysia across Asia Pacific are potential market for certificates market. Changing consumer perception about safety and quality is creating positive impact on the market for certificates market in Rest of the World.

Some of the key players operating in the certificates market are ALS Global in Australia, Bureau Veritas SA in France, The British Standards Institution in U.K., Dekra Certification GmbH in Germany, SAI Global in Australia, Intertek Group PLC in U.K., TÜV SUD Group in Germany, UL LLC in U.S., AsureQuality Limited in New Zealand and SGS Group in Switzerland among others.

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