Process Spectroscopy Market

Process Spectroscopy Market by Components (Hardware and Software), Technologies (Mass Spectroscopy, Atomic Spectroscopy, and Molecular Spectroscopy [NIR, FT-LR, Raman, NMR, and Others]), Applications (Oil & Gas, Pharmaceuticals, Polymer, Chemicals, Food & Agriculture, Pulp & Paper, Water & Wastewater, Metal & Mining, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: ICT-SE-4105
  • Author: Growth Market Reports
  • Rating: 4.7
  • Total Reviews: 1
  • No. Of Pages: 215
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The global process spectroscopy market size is projected to expand at a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the wide adoption of the device for various applications across industries including chemicals, oil & gas, and metal & mining.

Process Spectroscopy Market Key Takeaways

Process spectroscopy involves the application of spectroscopy for various purposes to examine the matters used in different industries for different products. Spectroscopy refers to a scientific tool that allows to study of the interaction between electromagnetic radiation and matter, which has wide applications for numerous operations ranging from medicine to astronomy. The three types of atomic spectroscopy are atomic absorption spectroscopy (AAS), atomic emission spectroscopy (AES), and atomic fluorescence spectroscopy (AFS). Some of the key functions of process spectroscopy are to monitor, analyze, as well as control manufacturing processes along with recognizing defects in product materials as well as enhancing the quality of products.

Market Trends, Drivers, Restraints, and Opportunities

  • Growing adoption of spectroscopic techniques across industries due to rising need to abide by necessary regulations to maintain the quality and standard of products is a key factor drives the market.
  • Increasing improvements in technologies especially in Raman technologies and molecular spectroscopy instruments are anticipated to propel the market.
  • Growing requirement of process spectroscopy in healthcare and pharmaceuticals along with significant demand in chemical and petrochemical industries are likely to fuel the market in the coming years.
  • High cost of device installment and lack of experts or technicians for handling the devices are major challenges that can hamper the market growth.
  • Rising customer awareness about product quality and developments in the global process spectroscopy market are expected to drive the market.

Scope of the Report

The report on the global process spectroscopy market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Process Spectroscopy Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Components (Hardware and Software), Technologies (Mass Spectroscopy, Atomic Spectroscopy, and Molecular Spectroscopy [NIR, FT-LR, Raman, NMR, and Others]), and Applications (Oil & Gas, Pharmaceuticals, Polymer, Chemicals, Food & Agriculture, Pulp & Paper, Water & Wastewater, Metal & Mining, 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 in the Report

Danaher Corporation; Sartorius AG; and Shimadzu Corporation; BrU.K.er Corporation; ABB Group; and Buchi Labortechnik AG

Market Segment Insights

Hardware segment is projected to expand at a considerable CAGR

On the basis of components, the market is bifurcated into hardware and software. The hardware segment is projected to expand at a considerable CAGR during the forecast period due to high demand for advanced hardware components to accelerate the effective evaluation of several materials of various products. Hardware is made up of light sources, spectrometers, systems, accessories, and analyzers. The software segment, however, is anticipated to account for a major market share during the forecast period. Software used in process spectroscopy includes Linux drivers, spectrum analysis tools, spectroscopy pro-tools, and others.

Mass spectrometry segment to grow at a rapid pace

Based on technologies, the global process spectroscopy market is divided into mass spectroscopy, atomic spectroscopy, and molecular spectroscopy. The mass spectrometry segment is expected to grow at a rapid pace during the forecast period as mass spectrometry is a powerful examination tool that finds implementation in the healthcare and pharmaceutical sectors. The mass spectrometry segment is anticipated to hold a key share of the market in the coming years as the application of mass spectrometry is associated with drug discovery, pharmaceutical industry, and development processes in the market. It offers high-performance liquid chromatography-mass spectrometry in drug metabolism, pharmacodynamic, and pharmacokinetic studies.

Pharmaceuticals segment is projected to expand at a considerable CAGR

On the basis of applications, the market is segregated into polymer, oil & gas, pharmaceuticals, food & agriculture, chemicals, water & wastewater, pulp & paper, metal & mining, and others. The pharmaceuticals segment is projected to expand at a considerable CAGR during the forecast period due to wide use of the devices for pharmaceutical products including drugs and medicines. The food & agriculture segment, however, is anticipated to account for a major market share during the forecast period as spectroscopy techniques enable identification and tracking of materials in the food industry, and impurities and their recognition in water & wastewater management.

Process Spectroscopy Market By Applictions

North America is anticipated to constitute a key market share

In terms of regions, the global process spectroscopy market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the forecast period owing to growing shale gas production in countries including the US and Canada. On the other hand, the market in North America is anticipated to expand at a rapid pace during the forecast period due to significant growth of various industries, rapid advancement in R&D activities, and robust manufacturing hub in the region.

Segments

The global process spectroscopy market has been segmented on the basis of

Components                                              
  • Hardware
  • Software
Technologies
  • Molecular Spectroscopy
      • NIR
      • FT-IR
      • Raman
      • NMR
      • Others
  • Mass Spectroscopy
  • Atomic Spectroscopy
Applications
  • Polymer
  • Oil & Gas
  • Pharmaceuticals
  • Food & Agriculture
  • Chemicals
  • Water & Wastewater
  • Pulp & Paper
  • Metal & Mining
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players

Competitive Landscape

Key players competing in the global process spectroscopy market are Danaher Corporation; Sartorius AG; and Shimadzu Corporation; BrU.K.er Corporation; ABB Group; and Buchi Labortechnik AG. The companies are constantly looking for adopting strategies and initiatives including innovation in product development, intensive R&D activities, and enhancement in spectroscopic techniques and equipment to expand their market position.

Process Spectroscopy Market By Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Process Spectroscopy 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. Process Spectroscopy Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Process Spectroscopy Market - Supply Chain
  4.5. Global Process Spectroscopy Market Forecast
     4.5.1. Process Spectroscopy Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Process Spectroscopy Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Process Spectroscopy Market Absolute $ Opportunity
5. Global Process Spectroscopy Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Process Spectroscopy Market Size and Volume Forecast by Applications
     5.3.1. Polymer
     5.3.2. Oil & Gas
     5.3.3. Pharmaceuticals
     5.3.4. Food & Agriculture
     5.3.5. Chemicals
     5.3.6. Water & Wastewater
     5.3.7. Pulp & Paper
     5.3.8. Metal & Mining
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Process Spectroscopy Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Process Spectroscopy Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Process Spectroscopy Demand Share Forecast, 2019-2026
7. North America Process Spectroscopy Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Process Spectroscopy Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Process Spectroscopy Market Size and Volume Forecast by Applications
     7.4.1. Polymer
     7.4.2. Oil & Gas
     7.4.3. Pharmaceuticals
     7.4.4. Food & Agriculture
     7.4.5. Chemicals
     7.4.6. Water & Wastewater
     7.4.7. Pulp & Paper
     7.4.8. Metal & Mining
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Process Spectroscopy Demand Share Forecast, 2019-2026
8. Latin America Process Spectroscopy 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
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Process Spectroscopy Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Process Spectroscopy Market Size and Volume Forecast by Applications
     8.4.1. Polymer
     8.4.2. Oil & Gas
     8.4.3. Pharmaceuticals
     8.4.4. Food & Agriculture
     8.4.5. Chemicals
     8.4.6. Water & Wastewater
     8.4.7. Pulp & Paper
     8.4.8. Metal & Mining
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Process Spectroscopy Demand Share Forecast, 2019-2026
9. Europe Process Spectroscopy 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. Europe Average Pricing Analysis
  9.2. Europe Process Spectroscopy Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Process Spectroscopy Market Size and Volume Forecast by Applications
     9.4.1. Polymer
     9.4.2. Oil & Gas
     9.4.3. Pharmaceuticals
     9.4.4. Food & Agriculture
     9.4.5. Chemicals
     9.4.6. Water & Wastewater
     9.4.7. Pulp & Paper
     9.4.8. Metal & Mining
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Process Spectroscopy Demand Share Forecast, 2019-2026
10. Asia Pacific Process Spectroscopy 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. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Process Spectroscopy Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Process Spectroscopy Market Size and Volume Forecast by Applications
     10.4.1. Polymer
     10.4.2. Oil & Gas
     10.4.3. Pharmaceuticals
     10.4.4. Food & Agriculture
     10.4.5. Chemicals
     10.4.6. Water & Wastewater
     10.4.7. Pulp & Paper
     10.4.8. Metal & Mining
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Process Spectroscopy Demand Share Forecast, 2019-2026
11. Middle East & Africa Process Spectroscopy 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. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Process Spectroscopy Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Process Spectroscopy Market Size and Volume Forecast by Applications
     11.4.1. Polymer
     11.4.2. Oil & Gas
     11.4.3. Pharmaceuticals
     11.4.4. Food & Agriculture
     11.4.5. Chemicals
     11.4.6. Water & Wastewater
     11.4.7. Pulp & Paper
     11.4.8. Metal & Mining
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Process Spectroscopy Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Process Spectroscopy Market: Market Share Analysis
  12.2. Process Spectroscopy Distributors and Customers
  12.3. Process Spectroscopy Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Danaher Corporation Sartorius AG Shimadzu Corporation BrU.K.er Corporation ABB Group  
The global process spectroscopy market has been segmented on the basis of

Components                                              
  • Hardware
  • Software
Technologies
  • Molecular Spectroscopy
      • NIR
      • FT-IR
      • Raman
      • NMR
      • Others
  • Mass Spectroscopy
  • Atomic Spectroscopy
Applications
  • Polymer
  • Oil & Gas
  • Pharmaceuticals
  • Food & Agriculture
  • Chemicals
  • Water & Wastewater
  • Pulp & Paper
  • Metal & Mining
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players

Key players competing in the global process spectroscopy market are Danaher Corporation; Sartorius AG; and Shimadzu Corporation; BrU.K.er Corporation; ABB Group; and Buchi Labortechnik AG. The companies are constantly looking for adopting strategies and initiatives including innovation in product development, intensive R&D activities, and enhancement in spectroscopic techniques and equipment to expand their market position.

Process Spectroscopy Market By Key Players

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