Global optical emission spectroscopy market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 6.36% during forecast period.
The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Optical emission spectroscopy (OES) is a widely used and well trusted analytical method, which is used to determine the elemental composition and purity of the broad range of metal and alloys. This method involves the collection, spectral dispersion, and detection of light and use a spectrometer device to precisely measure the alloys and metals in a material.
Growing adoption of optical emission spectroscopy technique owing to its easy-to-use instrumentation is major driving factor behind the growth of market. Development in technological and improved functionalities, government’s strict safety regulations and quality control demands, increasing inclination towards outsource analytical requirements to third-party service providers and demand of OES analysis in scrap recycling and metals making industries like steel- copper, foundries, aluminium plants and in all kinds of fabrication industry are expected to improve the growth of market during forecast period. OES analysis technique offers some major benefits such as rapid analysis time, easy use and inherent accuracy, which is ultimately propelling the growth of market.
However, high initial cost of the OES equipments and lack of technically skilled workforce to handle OES equipment are major restraining factor that could hamper the growth of market.
Global Optical Emission Spectroscopy Market: Segmentation Analysis
By source type, arc/spark segment dominated the market in 2019 and is expected to maintain its dominance at CAGR of XX% during forecast period. OES using arc and spark excitation performs quick elemental analysis of solid metallic samples, thus OES arc spark technique is the most preferred analysis method than other excitation methods. This method is commonly used in the metal processing industries such as primary producers, die casters, foundries and manufacturing, which is expected to improve the growth of market. Growing production and adoption of arc spark spectrometer device for various aspects of the production cycle such as metal processing, quality control of finished and semi-finished goods, in-coming inspection of materials, and in applications where there is requirement of a chemical composition of the metallic material, is further driving the growth of market.
By detector type, solid state detector segment dominated the market in 2019 and is projected to witness fast growth at CAGR of XX% during forecast period. The growth is attributed to its ability to analyze each and every wavelength simultaneously in the visible and ultraviolet areas of the electromagnetic spectrum. They are based on charge-coupled devices technology and are accepted in various industries such as in metal analysis, pharmaceutical, food & beverages, oil & gas and in chemical industry, which is propelling the growth of market. Alternatively, hybrid OES detectors segment expected to witness fast growth during forecast period owing to its increasing demand for single-packaged solutions.
Global Optical Emission Spectroscopy Market: Regional Analysis
Region wise, Asia pacific held the largest market share in 2019 and is expected to maintain its dominance at CAGR of XX% during forecast period. The developing economies such as China, Japan and India are major key contributors behind the growth of market. Growing industrialization, technological advancements to improve infrastructural developments and to increase economy and growing market for automotive sector is attributed to the growth of market.
Surge in the demand of OES equipment in environmental, food & beverages, aerospace & defense and in automotive industry is expected to improve the growth of market during forecast period.
Global Optical Emission Spectroscopy Market: Key Development
In Jan 2020, SPECTRO Analytical Instruments has introduced the eighth generation of its SPECTROMAXx with iCAL 2.0 ARC/SPARK OES Analyzer with innovative new capabilities and advancements in performance to achieve fast, accurate elemental analysis precisely tuned for material control and foundry applications.
In Feb 2019, SPECTRO Analytical Instruments has introduced its new SPECTROGREEN inductively coupled plasma optical emission spectrometry analyzer.
The objective of the report is to present a comprehensive analysis of the Global Optical Emission Spectroscopy Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Optical Emission Spectroscopy Market dynamics, structure by analyzing the market segments and projects the Global Optical Emission Spectroscopy Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Optical Emission Spectroscopy Market make the report investor’s guide.
The Scope of Global Optical Emission Spectroscopy Market
Global Optical Emission Spectroscopy Market, By Detector Type
• Solid-State Detector
• Photomultiplier Tube
Global Optical Emission Spectroscopy Market, By Source Type
• Inductively Coupled Plasma
Global Optical Emission Spectroscopy Market, By Component
Global Optical Emission Spectroscopy Market, By Industry
• Oil & Gas
• Metals and Heavy Machinery
• Scrap and Recycling
• Aerospace & Defense
• Pharmaceuticals and Life Sciences
• Power Generation
Global Optical Emission Spectroscopy Market, By Region
• North America
• Asia Pacific
• South America
• Middle East & Africa
Global Optical Emission Spectroscopy Market, Key Players
• Thermo Fisher Scientific
• Hitachi High Technologies Corporation
• Agilent Technologies
• Skyray Instrument
• Analytik Jena
• Bureau Veritas
• TÜV SÜD
• Element Materials Technology
• SPECTRO Analytical Instruments
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Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Name: Vikas Godage
Organization: MAXIMIZE MARKET RESEARCH PVT. LTD.
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