Process spectroscopy market worth US$22.04 billion by 2020
Published by Rosalie Starling,
Editor - Hydrocarbon Engineering
MarketsandMarkets has published a new report: ‘Process Spectroscopy Market (Molecular, Atomic, and Mass), Gas Chromatography (Process, and Natural Gas Chromatography), Process Analysers (Liquid & Gas), by Component (Hardware and Software User Interface), Industry, and Geography - Global Forecast to 2020’. According to the report, the process analyser, gas chromatography and spectroscopy markets will be worth US$4.98 billion, US$3.90 billion and US$22.04 billion, respectively, by 2020.
The major factors driving the growth of this market include the increasing adoption of liquid and gas analysers in the process industries for monitoring process chemistry, including water quality and gases.
The gas chromatography market is estimated to reach US$3.90 billion by 2020, at a CAGR of 8.60% between 2015 and 2020. The market is majorly driven by the increasing adoption of gas chromatography techniques in the process industries. Gas chromatographs help in measuring various parameters, such as fatty acids, amino acids, fragrances, pesticide residues and adulterants.
The process spectroscopy market is projected to reach US$22.04 billion by 2020, at a CAGR of 8.72% between 2015 and 2020. The factors contributing to the growth of this market include the increased focus on drug safety regulations, where process spectroscopy techniques enable the detection of metals in drug samples.
The process analyzers (liquid and gas), gas chromatography, and process spectroscopy markets in the Americas held the largest size of the global process analysers 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 and beverages, petrochemical, water and wastewater, and oil and gas among others. The process analysers 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 analysers (liquid and gas), gas chromatography, and process spectroscopy markets are ABB Ltd. (Switzerland), AMETEK Process Instruments (US), Applied Analytics, Inc. (US), Endress+Hauser AG (Switzerland), The Emerson Electric Company (US), GE Analytical Instruments (US), Mettler-Toledo International Inc. (US), PAC L.P. (US), Siemens AG (Germany), Thermo Fisher Scientific, Inc. (US) and Yokogawa Electric Corp. (Japan), among others.
Adapted from press release by Rosalie Starling
Read the article online at: https://www.hydrocarbonengineering.com/refining/05072016/process-spectroscopy-market-projections-3644/
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