FTIR Spectrometer Market

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)

  • Report ID: HC-4127
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 175
  • Format:
  • Pub. Date: 20-01-2022
  • Share:

Market Outlook:

The global FTIR spectrometer market was valued at USD 1,364.3 million in 2020 and is projected to reach USD 1,932.6 million by 2028, expanding at a CAGR of 4.6% during the forecast period. 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.

Global FTIR Spectrometer Market key takeaways

Scope of the 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.

Attributes

Details

Report Title

FTIR Spectrometer Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Type (Portable Type, Laboratory Type), Application (Petrochemical Engineering, Pharmaceutical Industry, Food Analysis, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

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

 

Market Dynamics

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.

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.

Global FTIR Spectrometer Market by types


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.

Global FTIR Spectrometer Market by applications

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.

Global FTIR Spectrometer Market by regions

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

Key Segments Covered

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.
Global FTIR Spectrometer Market by key players
1. Executive Summary
2. 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.&

Key Segments Covered

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
  • 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.
Global FTIR Spectrometer Market by key players

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FAQ Section

Some frequently asked quetions about this report!

Additional company profiles can be provided on request

According to this Growth Market Reports report, the FTIR Spectrometer market is likely to register a CAGR of 4.6% during the forecast period 2020-2027, with an anticipated valuation of USD 1,932.6 Mn by the end of 2028.

In addition to market size (in US$ Million), Company Market Share (in % for the base year 2020), and quality parameter overview is provided.

Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.

Increasing technological advancements in FTIR spectrometer, growing demand for FTIR spectrometer from the pharmaceutical industry are expected as a driving force for the market during the forecast period.

The major applications of FTIR spectrometer are petrochemical engineering, pharmaceutical industry, food analysis, and others.

The market is expected to witness a significant decrease in growth between 2019 and 2020 owing to the COVID 19 pandemic on the FTIR Spectrometer market.

The base year considered for the global FTIR Spectrometer market report is 2020. The complete analysis period is 2018 to 2028, wherein, 2018, and 2019 are the historic years, and the forecast is provided from 2021 to 2028.

Factors such as government regulations, environmental, pharmaceutical industry, and technological advancements are expected to act as a driving force for the market.

Major Manufacturers Thermo Fisher Scientific Inc., Bruker, PerkinElmer Inc., SHIMADZU CORPORATION, ABB, Agilent Technologies, Inc., JASCO, Torontech Inc., NETZSCH Group, ARCoptix, and Lumex Instruments.