Process Spectroscopy: The Global Market

May 15, 2008

Wellesley, Mass—According to a new technical market research report, PROCESS SPECTROSCOPY: THE GLOBAL MARKET (IAS008C) from BCC Research, the global market for process spectroscopy will be worth $1.2 billion in 2008. This is expected to increase to $1.9 billion by 2013, a compound annual growth rate (CAGR) of 8.5%.

The market is broken down into applications of process spectroscopy equipment and process spectroscopy applications. Of these, the equipment segment has the largest share of the market. With an estimated value of $957.7 million in 2008, this segment is expected to reach $1.4 billion in 2013, for a CAGR of 8.2%.

The process spectroscopy applications segment will be worth $282.6 million in 2008 and should increase to $445.3 million in 2013, with a CAGR of 9.5%.

Within the many categories and sub-categories of process spectroscopy, two rapid growth categories are diode array spectrometers and Raman scattering spectrometers. Diode array spectrometers are just gaining market traction for use in process spectroscopy and are expected to have a CAGR between 2008 and 2013 of 36.6%. While this growth is impressive, it is unlikely to remain at anywhere near its current growth slope as implementation proliferates and the specific technologies and techniques mature.

Raman scattering spectrometers will have a CAGR of 14.0% between 2008 and 2013. Since this technique is a few stages ahead of diode array spectrometers in their use for process spectroscopy, its growth rate is expected to remain strong and probably in double-digits for several more years.
 

Process Spectroscopy: The Global Market( IAS008C )
Publish Date: May 2008    

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