Surface Analysis Market size is set to record stellar growth through 2027 driven by the expanding innovations in the field of nanotechnology sciences, elevating R&D development expenditure from pharmaceutical and biotechnology companies. The growth is also backed by the rising adoption of surface analysis techniques in various research activities.
The industry growth is touted to be challenged by high cost of instruments being used for the process. Moreover, implementation of heavy custom duty by the U.S Government is also likely to hinder the business expansion over 2021-2027. However, new application areas would potentially create lucrative market growth opportunities.
Optical microscopy is expected to accrue considerable gains in the overall surface analysis market. This technology employs the visible or near-visible portion of the EM spectrum. Application of optical microscopy includes use in metallurgy, electronic industries, and life sciences.
Surface analysis technique is being highly adopted for polymer applications. Polymers are usually chemically inert and call for surface variation to promote properties like wettability and adhesion. Apparently, the use of various instruments to characterize and surface modification or adulteration of polymer surfaces is critical to the successful end use of myriad polymeric materials.
Regionally, North America surface analysis market is projected to account for substantial valuation through 2027, primarily led by the increasing initiatives towards promoting nanotechnology. The US government had in early 2000 introduced an NNI initiative (National Nanotechnology Initiative) consisting of nanotechnology-related activities of 20 independent agencies and departments. Through this initiative, the country has set the pace for nanotechnology innovation worldwide. In fact, various researchers revolving around nanotechnology is also likely to augment the business space in the North American economies.
For instance, researchers from two prominent organizations, University of Calgary’s Institute for Quantum Science and Technology, and NRC Nanotechnology Research Center and the University of Alberta, have lately been awarded more than $5.2 million from the Canada Foundation for Innovation for infrastructure investment in cutting-edge infrastructure development.
Asia Pacific surface analysis market size is predicted to hold major significance in the regional hierarchy, propelled by the rising adoption of technologically advanced instrumentation and favorable funding initiatives by the government for R&D. Additionally, the growth is expected to come from some of the prominent economies like China, India, South Korea, and Japan owing to the surging R&D expenditures by pharmaceutical and biotechnology industries.
Leading players operating in the global surface analysis industry are Thermo Fisher Scientific, Danaher Corporation, Nikon Corporation (Nikon), ULVAC-PHI (ULVAC Inc.), HORIBA Ltd., Shimadzu Corporation, and more. These market vendors have been going nine yards for bringing up novel innovations in the space while also being engaged in various industry tactics like mergers, acquisitions, collaborations, and others. These practices are expected to position them at a prominent spot in the global market till 2027.
For instance, Thermo Fisher Scientific, in May 2021, launched a novel comprehensive automated X-ray photoelectron spectrometer, Thermo Scientific Nexsa G2 surface analysis system. The product stands out to be developed to augment the innovation and productivity of industrial and academic laboratories.
In yet another instance, HOSHIBA UK recently unveiled a new dedicated resources center on its website. This novel move forms part of the company’s ongoing commitment to fully support engineers and scientists in academic innovation and research for analysis.
The industry has observed a gradual decline in growth statistics during 2020, given the dreaded coronavirus pandemic outbreak. Halt in production, disruption in supply chains, and movement restrictions imposed by various governments had brought myriad industries to stand still. Plastics and polymers, food and beverages, and semiconductor industries were amongst these. These industries are now recuperating from the massive jolt, which is poised to bring forth relief to the surface analysis market vendors over 2021 to 2027.
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