FTIR Spectrometer Market Share, Opportunities, Industry 2031
FTIR Spectrometer Market Share, Opportunities, Industry 2031
Segments - Global FTIR Spectrometer Market by Type (Portable Type and Laboratory Type), By Application (Petrochemical Engineering, Pharmaceutical Industry, Food Analysis, and Others), and Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 - 2031
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| Report ID :HC-4127
| 4.7 Rating
| 73 Reviews
| 175 Pages
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Report Description
FTIR Spectrometer Market Outlook 2031:
The global FTIR spectrometer market size was valued at USD 1.49 Billion in 2022 and is projected to reach USD 2.23 Billion by 2031, expanding at a CAGR of 4.6% during the forecast period 2023 - 2031. An FTIR spectroscopy is a technique used to determine the structure of individual molecules and the composition of molecular mixtures. Infrared spectroscopy is a technique that evaluates energy absorption in gas, liquid, or solid pharmaceutical samples.
Spectroscopy is widely utilized in the pharmaceutical industry to comprehend chemical processes, analyze complicated mixture components, and detect unstable compounds during the development of new drugs (NDDD). An FTIR spectroscopy is used in the polymer and plastic industry to quickly and precisely identify substances such as blends, fillers, paints, rubbers, coatings, resins, and adhesives.
FTIR Spectrometer Market Dynamics
Drivers
Increasing Technological Advancements in FTIR Spectrometer
A Fourier-transform infrared spectrometer, or FTIR spectrometer, is a key instrument used for determining the functional groups present in samples using infrared absorbance spectra. It is a subset of the molecular spectrometer.
Rapid technological advancements in infrared (IR) spectrometer and widespread applications of FTIR spectrometer techniques in various industries are expected to drive the global market in the coming years.
Rising Demand for FTIR Spectrometer from Pharmaceutical Industry
The growth of the global FTIR spectrometer market is attributed to the increase in applications of FTIR spectrometer in the pharmaceutical and life science industries during the forecast period.
The FTIR spectrometer technology is frequently used in the medication development process to assure regulatory compliance by screening raw materials and intermediates rapidly, analyzing product formulations and validation, quality control processes, and packaging. These, in turn, are projected to propel the global FTIR Spectrometer market in the coming years.
Restraints
High Cost of FTIR Spectrometer
Higher cost of FTIR spectrometer products than other alternatives has hampered their widespread use. NIR spectrometer cameras are costlier than NIR, Raman, and SWIR cameras. Indium gallium arsenide (InGaAs) sensors are used in most NIR spectrometer products.
As InGaAs is a costly semiconductor material, it accounts for a significant portion of the entire cost of a SWIR camera. Glass lens supports the InGaAs sensors, which is more expensive than the lenses used in other IR goods. This raises the total cost of NIR spectrometer, making the FTIR spectrometer market highly competitive.
Availability of Used FTIR Spectrometer Devices
The average lifespan of FTIR spectrometer instruments is around 7 years. The ASP of these products has increased marginally during the last few years due to numerous technological developments. Furthermore, these devices are expensive and have been on the market for a long time. They are utilized in a variety of industries for various purposes.
Therefore, several used spectroscopic devices are currently on the market for resale, and some industry segments prefer used devices instead of new ones. This, in turn, is anticipated to hinder the market in the coming years.
Scope of FTIR Spectrometer Market Report
The report on FTIR Spectrometer Market includes an assessment of the market, size, share, trends, segments, and country markets. Overview and dynamics have been included in the report.
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Attributes |
Details |
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Report Title |
FTIR Spectrometer Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Type (Portable Type, Laboratory Type), Application (Petrochemical Engineering, Pharmaceutical Industry, Food Analysis, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered |
Thermo Fisher Scientific Inc., Bruker, PerkinElmer Inc., SHIMADZU CORPORATION, ABB, Agilent Technologies, Inc., JASCO, Torontech Inc., NETZSCH Group, ARCoptix, and Lumex Instruments |
FTIR Spectrometer Market Segmental Outlook
The global FTIR Spectrometer market is segmented on the basis of types, applications, and regions. Based on type, the global FTIR spectrometer market is segmented into portable and laboratory. The portable segment is estimated to expand at a high CAGR during the forecast period due to the increasing use of portable FT IR spectrometer for process monitoring and quality control.
Infrared spectroscopy is an excellent analytical instrument for routine quality control (QC) analysis to ensure that materials meet specifications and analytical investigations to determine the root causes of the failure.
In terms of applications, the global FTIR spectrometer market is segregated into petrochemical engineering, pharmaceutical industry, food analysis, and others. The pharmaceutical industry segment is anticipated to expand at a significant CAGR during the forecast period.
The pharmaceutical sector segment is expected to grow in the coming years, due to increasing global demand for vaccines and medications, rising pharmaceutical R&D spending, growing elderly population, and increasing incidence rate of chronic illnesses.
FTIR Spectrometer Market Regional Outlook
Based on regions, the global FTIR Spectrometer is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is projected to expand at a significant CAGR during the forecast period, owing to increasing adoption of technologically advanced systems and rising R&D investments in the pharma and life sciences industry in this region.
The market in Europe is expected to grow at a rapid pace during the forecast period due to the availability of skilled labor and increase in investments in spectrometer manufactures.
Significant growth in end-use industries such as chemical, food & packaging, semiconductors, and pharmaceutical is driving the market. Moreover, exponential growth of the population and rising disposable income levels are boosting the market in countries such as China and India in the coming years.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global FTIR Spectrometer market
- Historical, Current and Projected Market Size in terms of Value and Volume
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global FTIR Spectrometer Market Performance
Segments
By Types
- Portable Type
- Laboratory Type
By Application
- Petrochemical Engineering
- Pharmaceutical Industry
- Food Analysis
- Others
By Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Market Players Profiled in the Report
- Thermo Fisher Scientific Inc.
- Bruker
- PerkinElmer Inc.
- SHIMADZU CORPORATION
- ABB
- Agilent Technologies, Inc.
- JASCO
- Torontech Inc.
- NETZSCH Group
- ARCoptix
- Lumex Instruments
Competitive Landscape
- Top players in the market include Thermo Fisher Scientific Inc., Bruker, PerkinElmer Inc., SHIMADZU CORPORATION, ABB, Agilent Technologies, Inc., JASCO, Torontech Inc., NETZSCH Group, ARCoptix, and Lumex Instruments. These companies are considered as key manufacturers of a piezoelectric element based on their revenue, product offerings, regional presence, and supply chain management system.
- The players are adopting key strategies such as acquisition, collaborations, and geographical expansion where the potential opportunity for the FTIR Spectrometer market.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. FTIR Spectrometer Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. FTIR Spectrometer Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. FTIR Spectrometer Market - Supply Chain
4.5. Global FTIR Spectrometer Market Forecast
4.5.1. FTIR Spectrometer Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. FTIR Spectrometer Market Size (000’ Units) and Y-o-Y Growth
4.5.3. FTIR Spectrometer Market Absolute $ Opportunity
5. Global FTIR Spectrometer Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. FTIR Spectrometer Market Size and Volume Forecast by Types
5.3.1. Portable Type
5.3.2. Laboratory Type
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global FTIR Spectrometer Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. FTIR Spectrometer Market Size and Volume Forecast by Applications
6.3.1. Petrochemical Engineering
6.3.2. Pharmaceutical Industry
6.3.3. Food Analysis
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global FTIR Spectrometer Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. FTIR Spectrometer Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global FTIR Spectrometer Demand Share Forecast, 2019-2026
8. North America FTIR Spectrometer Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America FTIR Spectrometer Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America FTIR Spectrometer Market Size and Volume Forecast by Types
8.4.1. Portable Type
8.4.2. Laboratory Type
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America FTIR Spectrometer Market Size and Volume Forecast by Applications
8.7.1. Petrochemical Engineering
8.7.2. Pharmaceutical Industry
8.7.3. Food Analysis
8.7.4. Others
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America FTIR Spectrometer Demand Share Forecast, 2019-2026
9. Latin America FTIR Spectrometer Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America FTIR Spectrometer Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America FTIR Spectrometer Market Size and Volume Forecast by Types
9.4.1. Portable Type
9.4.2. Laboratory Type
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America FTIR Spectrometer Market Size and Volume Forecast by Applications
9.7.1. Petrochemical Engineering
9.7.2. Pharmaceutical Industry
9.7.3. Food Analysis
9.7.4. Others
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America FTIR Spectrometer Demand Share Forecast, 2019-2026
10. Europe FTIR Spectrometer Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe FTIR Spectrometer Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe FTIR Spectrometer Market Size and Volume Forecast by Types
10.4.1. Portable Type
10.4.2. Laboratory Type
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe FTIR Spectrometer Market Size and Volume Forecast by Applications
10.7.1. Petrochemical Engineering
10.7.2. Pharmaceutical Industry
10.7.3. Food Analysis
10.7.4. Others
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe FTIR Spectrometer Demand Share Forecast, 2019-2026
11. Asia Pacific FTIR Spectrometer Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific FTIR Spectrometer Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific FTIR Spectrometer Market Size and Volume Forecast by Types
11.4.1. Portable Type
11.4.2. Laboratory Type
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific FTIR Spectrometer Market Size and Volume Forecast by Applications
11.7.1. Petrochemical Engineering
11.7.2. Pharmaceutical Industry
11.7.3. Food Analysis
11.7.4. Others
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific FTIR Spectrometer Demand Share Forecast, 2019-2026
12. Middle East & Africa FTIR Spectrometer Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa FTIR Spectrometer Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa FTIR Spectrometer Market Size and Volume Forecast by Types
12.4.1. Portable Type
12.4.2. Laboratory Type
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa FTIR Spectrometer Market Size and Volume Forecast by Applications
12.7.1. Petrochemical Engineering
12.7.2. Pharmaceutical Industry
12.7.3. Food Analysis
12.7.4. Others
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa FTIR Spectrometer Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global FTIR Spectrometer Market: Market Share Analysis
13.2. FTIR Spectrometer Distributors and Customers
13.3. FTIR Spectrometer Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Thermo Fisher Scientific Inc.
13.4.2. Bruker
13.4.3. PerkinElmer Inc.
13.4.4. SHIMADZU CORPORATION
13.4.5. ABB
13.4.6. Agilent Technologies, Inc.
13.4.7. JASCO
13.4.8. Torontech Inc.&
Methodology
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