Future Prospects of Global Laboratory Proficiency Testing Market

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Laboratory Proficiency Testing Market  The global Laboratory Proficiency Testing Market is estimated to be valued at US$ 1.29 billion in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Laboratory proficiency testing involves evaluating the performance of laboratories for a given scope of testing through inter-laboratory comparisons. It helps assess the quality and competence of laboratories by determining reproducibility and accuracy of test results. Proficiency testing products are used by laboratories to determine method validity and accuracy, and improve testing processes. Market Key Trends: One of the major trends in the laboratory proficiency testing market is the growing number of accredited medical laboratories. Accreditation assures compliance with ISO 15189 and ISO/IEC 17025 standards, which require participation in proficiency testing programs. Acc...
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Regional Insights of Crossed-Linked Polyethylene Market and Covid-19 impact on it

Polyethylene is a low-cost commodity plastic that, due to its thermoplastic nature, may be reused. Polyethylene is cross-linked to improve its thermal resistance, transforming the finished product from thermoplastic to thermosetting plastic.

COVID-19 impact on the Global Crossed-Linked Polyethylene Market

Consumers, businesses, and communities all across the world are concerned about the COVID-19 pandemic, which is producing economic imbalances. Tier-1 and Tier-2 PEX-producing firms in APAC, the Middle East & Africa, and Europe have also been forced to cease operations. In numerous PEX-producing countries, the epidemic has resulted in production halts, labour shortages, and logistical disruptions. PEX for industrial operations is mostly produced in APAC and Europe. All of these issues have caused a disruption in Cross-linked Polyethylene Market supply chain, with several manufacturing units slowing down.

End-use sectors such as automotive, construction, chemicals, packaging, and consumer goods have been harmed by the pandemic. These sectors necessitate a robust distribution network as well as a high level of transportation activity. However, because to lockup and transit limitations in a number of countries, these end-use sectors are unable to meet customer demands, limiting the Cross-linked Polyethylene Market market's growth. As many countries around the world remain under lockdown, the market is likely to grow slowly until the second quarter of 2020. Despite the viral pandemic, demand for PEX in the medical and healthcare industries would strengthen the market.

 

Cross-linked Polyethylene Market
Crossed Linked Polyethylene Market

Regional Insights

In terms of revenue and volume, Asia Pacific led the global Cross-Linked Polyethylene market in 2016, followed by North America and Europe, and this trend is expected to continue over the projected period. In terms of volume, Asia Pacific had a 47.68 percent share in 2016. Over the projected period, the global cross linked polyethylene market is predicted to rise due to rising demand for plumbing in Asia Pacific as a result of rising population, increased urbanisation, and the commercial sector.

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