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  • South East Asia Textile TIC Market Size to Grow at a CAGR of 8.68% During the Forecast Period 2021-2026

    (I-SoftwareNews.Com, November 10, 2021 ) Testing, Inspection and Certification (TIC) caters to a diverse range of textiles in South East Asia with its wide spectrum of standard, regulation and legislations. South East Asia Textile TIC Market is expected to grow at a CAGR of 8.68% during 2021-2026 and is likely to reach $124.5 million by 2026, from around $85.6 million in 2020. Due to the COVID-19 pandemic, the demand for textiles and apparel industry fell dramatically, as supply chains for raw materials were disrupted due to lockdowns and logistics issues and also as many consumers have been staying at home, the need or interest to purchase apparel also dropped. This supply and demand shock hence caused a -4.1% growth in 2020 to $82.1m, which will bounce back slowly from 2021 onwards. Testing, inspection, and certification (TIC) enhances the manufacturing productivity, and aid textile manufacturers to align the conformity of the product with respect to standards, and increase the quality of their products. The market include the textile companies operating in South East Asia that specifically dealing with testing, inspection and certification The ‘TIC’ services can be applied to any product, service, or company regardless of the sector which it is operating in a country. The objective of these services is to assure the end-users and consumers that the textile manufacturer has followed national and international regulations and standards, which ensure quality, public health, and safety norms.

    South East Asia Textile TIC Market Segment Analysis – By Testing Type

    Formaldehyde testing segment is estimated to register the highest growth rate of 10.8% during the forecast period 2021-2026. Owing to the stringent norms for quality and safety of the products is the key factor behind the rapid upsurge in the market for this testing type. This will be followed by ‘Banned Azo dyes and Colorants testing’ and ‘Textile machinery safety and inspection’ registering growth of 9.74% and 9.73% respectively in the same period. Testing, Inspection and Certification (TIC) in textiles market is seamlessly catering to a wide range of companies across various industries, with a variety of set standards and protocols to adhere with the safety and compliance norms. The services under which the TIC companies serve industries include quality and safety, certification and valuation of shipments, product performance evaluations, industrial inspections, valuation of imports, services in the energy and transportation sectors, systems certification, supplier evaluation and laboratory outsourcing, and many more. Demand for better application quality is growing as organizations deal with pressure from digitalization and focus on customer experience. By 2020, 60% of testing resources will need to have a combination of testing skills, application development skills, and business process skills or industry skills. By 2020, intelligent automation, including the use of artificial intelligence (AI) and machine learning technologies, will be among the top three selection criteria in 30% of application testing engagements.

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    South East Asia Textile TIC Market Segment Analysis – By Application

    In 2020, Industrial inspections segment accounted for 29% of Textile TIC market in SE Asia and is estimated to register the highest growth of 9.3% during the forecast period owing to the stringent safety norms on various industrial and consumer products globally. Certification and valuation of shipments application held the 2nd largest share of around 23% in the SE Asia Textile TIC market in 2020 and is likely to witness a CAGR of 7.9% during the same period owing to the rapid industrialization coupled with the rising trade of products and services in South East Asia region. However, economic scenario may deter the growth of TIC market; though, rapid consolidation in the industry will likely fuel the growth of Textile TIC market in South East Asia in coming years. TIC services guarantees that products, infrastructures and processes meet the requisite standards and regulations with respect to quality, safety, social responsibility and environmental protection while still plummeting the risk of failure, accidents and disruption. With the increasing manufacturing, the trade with other region is likely to increase. And, lack of proper product conformity, products not meeting safety or quality standards shall in turn impact the trade dynamics.

    South East Asia Textile TIC Market Segment Analysis – By Geography

    South East Asia Textile TIC market in Indonesia region held significant market share of 40.5% in 2020. At present, Indonesian Government recognizes, Indonesian National Standards (SNIs), as the only national standards Regulation. Badan Standardisasi Nasional (BSN) institute formulates the SNIs. Accreditation is handled by the National Accreditation Committee (KAN). KAN is responsible to grant accreditation in certain fields including testing and calibration laboratories, certification bodies and inspection bodies. For testing and calibration laboratories, KAN uses ISO/IEC 17025 as the basis of its accreditation requirements and KAN itself runs the accreditation system based on ISO/IEC Guide 58. Presently, KAN operates in accreditation system for testing and calibration laboratories, certification bodies that consist of ISO 9000 quality system certification bodies, ISO 14000 series environmental quality system certification bodies, personnel certification bodies, product certification bodies, HACCP certification bodies, and inspection bodies. KAN has been joining the Asia Pacific Laboratory Accreditation Cooperation (APLAC) and has been the signatory for APLAC – Mutual Recognition Arrangement (MRA) for testing laboratory since May 2001, to give recognition to its laboratory testing standards. In June 9th, 2019, Indonesia proposed to mandate the use of SNI 8218:2015 in the testing and certification of food contact paper and paperboard, which is expected to be in effect from the year 2020. Cotecna, a major company of inspection, security, testing and certification, has been officially appointed by Indonesia’s KSO SCISI, to handle the inspection of Tires imported to Indonesia.

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    South East Asia Textile TIC Market Drivers

    Favorable Trade Agreements

    The favorable trade partnerships are set to have a positive impact on the South East Asia Textile TIC market. The ASEAN Free Trade Area (AFTA) is a trade bloc agreement by the Association of Southeast Asian Nations supporting local manufacturing in all ASEAN countries. This agreement has significantly driven the manufacturing sector in APAC in recent years. This brisk growth in trade volumes across the region is also set to drive the textile TIC market during the forecast period.

    Growing FDI in South East Asia

    The greenfield foreign direct investments in South East Asian countries has significantly increased since the past 5 years with Japan attributing to the major share of the total value of investments. The major OEMs are establishing the production plants, warehouses and expanding the distribution network from scratch to reduce the operational costs along with strategy to enhance profit margins; This shift in the paradigm is set to drive the textile TIC market during forecast period. The importance of regulations pertaining to Quality, Health, Safety and Environment (QHSE) are gaining cumulative prominence to minimize risks associated to workers and environment safety while ensuring optimal level of qualities in product and services offerings. The requirements for creating a sustainable future has resulted in emergence of a series of regulations, directives and standards in surplus of industrial environments; thereby, driving the demand of textile TIC market.

    South East Asia Textile TIC Market Challenges

    Lack of skilled labor along with the minimal government support in testing and inspection space

    Unemployment remains persistently significant with the highest value of around 5.7% in Philippines followed by 5.3% in Indonesia and 3.4% in Malaysia. High unemployment combined with low levels of job creation and educational attainment has resulted in large numbers of semi and unskilled workers at a time when the labor-intensive industries such as farming, agriculture, mining and manufacturing that might traditionally employ them, have downsized their workforces.

    South East Asia Textile TIC Market Landscape

    Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the South East Asia Textile TIC market. SGS group, Corp, Bureau Veritas SA, Intertek Group are analyzed to dominate the market with prominent revenue share in 2020. TUV SUD held the fourth largest share followed by ALS Limited across South East Asia Textile TIC market share in the same year.

    Acquisitions/Product Launches

    In August 2019, TUV SUD AG launches its hardlines testing laboratory to expand the existing facility of manufacturers and exporting companies that will be tested in laboratory for their quality and safety.

    In July 2019, TUV group sets up a new softlines testing facility in Gurugram which offers global standard testing services for exporters, importers, manufacturers and global retailers for testing of garments.

    Key Takeaways

    With the increasing imports and dependencies on the 3rd countries for manufacturing goods, it is posing concerns for the developed nations as the products that are imported or procured have to withstand rigorous standards, regulations and legislations of the country or region.

    Textile sector is under constant pressure to not only adapt to the present scenario, but also to ensure that it grasps the future trends of the global society, which in turn makes the survival easier. Textile sector has been religiously working on understanding the current trends and future needs of society in order to come up with products that focus on the requirements of posterity.

    The demand for textile will rise by manifold, as the global population will touch the 8.1 billion mark by 2025. By the mid-century, this figure would reach 9.5 billion, making to a staggering 11 billion by 2100. Following this, the global apparel market will grow to $2.1 trillion by 2025.

    In today’s competitive market, consumers pay more attention to the quality of material and fibre, as compared to their cost and charges. Therefore, textiles need not only to be stylish but also consistently well-made and free from hazardous substances which is ensured by using testing, inspection and certification services.

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    Venkat Reddy

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    Source: EmailWire.Com


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