X-Ray Photoelectron Spectroscopy Market worth over $775mn by 2023
Published Date: February 7, 2017 Author: Global Market Insights, Inc.
X-ray Photoelectron Spectroscopy (XPS) Market size is set to exceed USD 775 million by 2023; according to a new research report by Global Market Insights, Inc.
Favorable reimbursement policies coupled with growing application will accelerate x-ray photoelectron spectroscopy market size over the forecast timeframe. Increasing application of high performance materials and understanding the chemical and physical interactions of modern materials will increase the x-ray photoelectron spectroscopy application. Factors such as wettability, catalytic activity, corrosion rates, adhesive properties, contact potential and failure mechanisms can be studied in surface chemistry.
Presence of supportive government initiatives like "Drug Safety Information Survey" introduced by Health Canada and the "Safe Use Initiative" by FDA for creating awareness about medical R&D will provide manufacturers with profitable growth opportunities.
Global x-ray photoelectron spectroscopy market size was accounted for more than USD 475 million in 2015, and will expand with over 6.0% CAGR during the forecast timeframe. Increasing demand in mining, bio-monitoring, food, pharmaceuticals, and chemical industries should rise the application for x-ray photoelectron spectroscopy market.
Contamination detection will be the fastest growing usage field at over 6.0% CAGR from 2016 to 2023 due to high demand in pharmaceutical, biotechnology, semiconductors and electronic industry.
Healthcare industry is estimated to foresee a substantial growth from 2016 to 2023. The increasing research in spatial control of biomolecules and cells for applications like array technologies and tissue engineering is accountable for high use. Increasing packaging and printing applications in healthcare industry will also fuel the x-ray photoelectron spectroscopy market.
Browse key industry insights spread across 80 pages with 57 market data tables & 6 figures & charts from the report, “X-ray Photoelectron Spectroscopy Market Size By Application (Healthcare, Semiconductors, Electronics, Aerospace, Automotive), By Usage (Element Detection, Contamination Detection, Density Estimation, Empirical formula Determination), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, India, China, Japan, Mexico, Brazil, South Africa), Growth Potential, Competitive Market Share & Forecast, 2016 - 2023” in detail along with the table of contents:
K-Alpha+ system (Thermo Scientific) can be efficiently used to detect and measure the chemical states of the elements present in catalyst samples. Kratos launched AXIS Supra, which is easy to operate, have automated loading and based on AXIS technology.
North America is estimated to grow at more than 5.5% CAGR. Implementation of various health policies for drug safety by the U.S FDA and other regulatory agencies will boost the industry in the region. France x-ray photoelectron spectroscopy market will grow at a significant rate due to rising demand of spectroscopy in different industries, favorable reimbursement norms and rising acceptance of hyphenated technologies.
India will witness significant gains with over 8.0% growth rate. Existence of large unmet needs, adoption of favorable government policies for increasing awareness levels and improving commercial environments are some contributing factors for the APAC x-ray photoelectron spectroscopy market growth.
Usage of XPS in contamination detection generated over 30% share in 2015. It is expected to seize significant revenue share over the forecast timeframe due to extensive applications in semiconductors and automotive industries. Empirical formula detection and electronic density estimation accounted for smaller market shares due to the limited use of these procedures in comparison to other analyses.
Major companies operating in x-ray photoelectron spectroscopy market include Evans Analytical Group, V G Scienta, Kratos Analytical, Kett, Intertek, Mitsubishi and Thermo Fisher Scientific. The setup of XPS is capital intensive and requires skilled experts to analyze and interpret the results, hence major industry players will continue to lead the x-ray photoelectron spectroscopy market during the forecast period. Increasing competition from more advanced technologies and dearth of skilled technical expertise can affect the market growth.
X-Ray photoelectron spectroscopy market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2012 to 2023, for the following segments:
X-ray photoelectron spectroscopy market by usage
- Element detection
- Contamination detection
- Density estimation
- Empirical formula determination
X-ray photoelectron spectroscopy market by application
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa