Process Spectroscopy Market Sales, Supply, Demand, Analysis & Forecast to 2020
The global Process Analyzers (Liquid & Gas) Market is expected to grow from USD 3.57 Billion in 2014 to USD 4.98 Billion by 2020, at a CAGR of 5.50% between 2015 and 2020. The market is majorly driven by the increase in the shale gas production in the U.S. and growing demand for water & wastewater treatment. In addition, increasing usage of process liquid and gas analyzers in the emerging markets such as China and India and the rising adoption of spectroscopy instruments in the applied markets provide significant growth opportunities for the global process analyzers (liquid & gas).
The gas chromatography is projected to grow from USD 2.32 Billion in 2014 to USD 3.90 Billion by 2020, at a CAGR of 8.60% between 2015 and 2020. The major factors contributing to the growth of this market include the increasing adoption of gas chromatography techniques in various process industries such as food & beverages, petrochemical, and pharmaceutical to identify hazardous gases.
The global process spectroscopy market is expected to grow from USD 13.01 Billion in 2014 to USD 22.04 Billion by 2020, at a CAGR of 8.72% between 2015 and 2020. This market is majorly driven by the increased focus on drug safety regulations, where spectroscopy techniques enable the detection of metals in drug samples.
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The pharmaceutical, petrochemical, food & beverages, water & wastewater, and oil & gas industries are some of the key application areas for process analyzers, gas chromatography, and spectroscopy. The process analyzers, gas chromatography, and process spectroscopy market for the pharmaceutical industry held the highest share in 2014, followed by the markets for the petrochemical, food & beverages, and water & wastewater industries. The major factors contributing to the growth of these markets for the pharmaceutical industry include stringent drug safety directions set forth by the international regulation bodies such as U.S. Food and Drug Administration, World Health Organization, and European Medicines Agency for manufacturing and processing pharmaceutical products.
The process analyzers, gas chromatography, and process spectroscopy markets for the pharmaceutical industry held the largest share in 2014
The global process analyzers, gas chromatography, and process spectroscopy markets are industry driven. Based on industry, these markets have been segmented into oil & gas, petrochemical, pharmaceutical, water & wastewater, thermal power, food & beverages, pulp & paper, metal & mining, cement & glass, and others. The global process analyzers, gas chromatography, and process spectroscopy markets for the pharmaceutical industry accounted for the largest share in 2014. These markets are expected to grow at a significant rate between 2015 and 2020, driven by increasing adoption of various analyzers in the pharmaceutical industry. In this industry, process analyzers offer drug safety by providing a variety of information on identity, content, quality, purity, and stability of pharmaceutical products.
The process analyzers, gas chromatography, and process spectroscopy markets for the food & beverages industry expected to grow rapidly during the forecast period
The process analyzers, gas chromatography, and process spectroscopy markets for the food & beverages industry are estimated to grow at the highest rate during the forecast period. This growth can be attributed to the increasing adoption of gas chromatography and process spectroscopy techniques to determine key ingredients in the different phases of the food and beverages manufacturing cycle. The food & beverages industry requires real-time measurement of various unwanted by-products, which are required for the quality and safety of food products. Therefore, these techniques provide monitoring tools for supplier validation, process optimization, and final product testing in reduced costs and improved quality.
The process analyzers (liquid & gas), gas chromatography, and process spectroscopy markets in the Americas held the largest market size in 2014
The process analyzers (liquid & gas), gas chromatography, and process spectroscopy markets in the Americas held the largest size of the global process analyzers market; however, the markets in APAC are expected to exhibit the highest growth rate during the forecast period. The major factors driving the growth of these markets include huge investments by the major players in the process industries such as pharmaceutical, food & beverages, petrochemical, water & wastewater, and oil & gas among others. The process analyzers and related techniques used in these industries help in identifying various hazardous gases and liquids, thereby providing optimum efficiency pertaining to production and maintenance.
The major players in the global process analyzers (liquid & gas), gas chromatography, and process spectroscopy markets are ABB Ltd. (Switzerland), AMETEK Process Instruments (U.S.),
Applied Analytics, Inc. (U.S.), Endress+Hauser AG (Switzerland), The Emerson Electric Company (U.S.), GE Analytical Instruments (U.S.), Mettler-Toledo International Inc. (U.S.), PAC L.P. (U.S.), Siemens AG (Germany), Thermo Fisher Scientific, Inc. (U.S.), and Yokogawa Electric Corp. (Japan), among others.
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