Global Process Spectroscopy Market is estimated to reach USD 25.10 billion by 2025 owing to the increasing acceptance of several spectroscopy techniques. Spectroscopy is the interaction between electromagnetic radiation and the matter. Process spectroscopy is the use of spectroscopy to achieve real-time data to monitor and enhance a manufacturing process. This technique is used for various applications according to unique regulations and standards from different regulatory organizations.
Process spectroscopy market is driven by factors like increasing demand for superior quality manufactured goods, efforts taken by food and healthcare industry to enhance their manufacturing processes, and improved quality standards. Moreover, increasing regulations from government concerning safety principles and mandatory rules for implementing them are expected to fuel the market growth of process spectroscopy. Properties of process spectroscopy like cost-effectiveness and time saving are stimulating the demand for the technique, thereby encouraging process spectroscopy industry.
However, lack of skilled labor followed by significant initial investment is expected to obstruct the market growth of process spectroscopy. Process spectroscopy market is witnessing opportunities from modernizations in spectroscopic domain since it decreases the total expenditure of product investigation and marketing by manufacturers.
Process spectroscopy industry is categorized on the basis of technology, end user, and geography. On the basis of technology, the market is divided into Raman spectroscopy, infrared (NIR) spectroscopy, Fourier transform infrared (FT-IR) spectroscopy, etc. Infrared (NIR) spectroscopy led the market earlier in terms of revenue. Among all, Raman spectroscopy market is expected to hold larger market share of process spectroscopy owing to its increasing popularity and acceptance in food, agriculture and pharmaceutical industry.
Based on end user, process spectroscopy market is divided into oil & gas, polymer, food & agriculture, pharmaceutical, chemical, and others. In the previous years, pharmaceutical industry led process spectroscopy industry followed by agriculture and food. Chemical industry is expected to register maximum growth in the coming years owing to its increasing use.
Geographically, process spectroscopy market is divided into North America, South America, Europe, Asia Pacific and Middle East & Africa. Asia Pacific is anticipated to dominate the market of process spectroscopy owing to the prevalence of several leading market players in the region.
The key players in process spectroscopy industry are ABB Limited, Bruker Corporation, Horiba Limited, Agilent Technologies, Inc., Foss A/S, Kett Electric Laboratory, Sartorius AG, BuchiLabortechnik AG, Danaher Corporation, Thermo Fisher Scientific, Inc., Shimadzu Corporation, and Yokogawa Electric Corporation.
Process Spectroscopy Technology Outlook (Revenue, USD Billion, 2014 - 2025)
• Molecular Spectroscopy
• Near Infrared (NIR)
• Fourier-Transform Infrared (FT-IR)
• Nuclear Magnetic Resonance (NMR)
• Mass Spectroscopy
• Atomic Spectroscopy
Process Spectroscopy Application Outlook (Revenue, USD Billion, 2014 - 2025)
• Oil & Gas
• Food & Agriculture
• Water & Wastewater
• Pulp & Paper
• Metal & Mining
Process Spectroscopy Component Outlook (Revenue, USD Billion, 2014 - 2025)
Process Spectroscopy Regional Outlook (Revenue, USD Billion, 2014 - 2025)
• North America
• Asia Pacific
• South America
• Middle East & Africa (MEA)
Research Support Specialist, USA