Process Spectroscopy Market Overview :
Global Process Spectroscopy Market is estimated to reach $2,004.7 Million by 2025; growing at a CAGR of 8.4% from 2017 to 2025. Spectroscopy is an analysis of the interface among matter and any portion of electromagnetic spectrum. Usually, spectroscopy elaborate the visible spectrum of light, x-ray, gamma, and UV. It is used to monitor the progress of assess the purity of products and chemical processes. It may also be used to measure the effect of electromagnetic radiation. This can be used to determine the intensity or duration of exposure to the radiation source. Rising demand from the pharmaceutical industries to undertake advanced research & development, is leading to the application of numerous spectroscopy provides opportunity for the growth of the market.
The growth of the global process spectroscopy market is mainly driven by factors such as increasing adoption of spectroscopic techniques in the pharmaceutical and food & agriculture sectors and increasing use in the drug safety process. In addition, growing demand for water & wastewater treatment is also supporting the market growth. However, high infrastructure costs and lack of skilled professionals are the major hindrance for the market growth. Moreover, growing awareness of quality food & drugs, and regulations being imposed by the government & related organizations and increasing adoption of spectroscopy instruments in the applied markets are expected to present potential growth opportunities over the forecast timeframe.
The global process spectroscopy market is segmented on the basis of technology, end-use industry and geography. Technology segment is bifurcated on the basis of near infrared (NIR) spectroscopy, Fourier transform infrared (FT-IR) spectroscopy, Raman spectroscopy and other technologies. Furthermore, by end use industry, the segment in classified into polymer, pharmaceutical, oil & gas, food & agriculture, chemical and other end use industries.
Based on geography, global process spectroscopy market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated into U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
The key market players include Endress+Hauser Management AG, ABB, AMETEK.Inc., Applied Analytics, Inc., Emerson Electric Co., SUEZ, METTLER TOLEDO, PAC L.P., Yokogawa Electric Corporation, Thermo Fisher Scientific Inc., Siemens AG, among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Process Spectroscopy Market with respect to major segments such as technology, end-use industry and geography.
- The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Process Spectroscopy Market has been included in the report
- Profile of the key players in the Global Process Spectroscopy Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of Global Process Spectroscopy Market
- Near Infrared (NIR) Spectroscopy
- Fourier Transform Infrared (FT-IR) Spectroscopy
- Raman Spectroscopy
- Other Technologies
End Use Industry Segments
- Oil and Gas
- Food and Agriculture
- Other End Use Industries
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South America
- Middle East