Market Overview:
The global process spectroscopy market size is expected to reach USD 52.25 billion by 2032, exhibiting a CAGR of 10.9% during 2024–2032.
Process spectroscopy involves utilizing a spectrometer to oversee the production process of a sample item. Furthermore, this spectroscopy process is utilized in a wide range of spectrometry methods. Different types of spectroscopy methods include near-infrared spectroscopy, Fourier transforms infrared spectroscopy, and Raman spectroscopy. These methods reduce the time and money spent on different monitoring procedures. Process spectroscopy is seen as one of the most effective ways to analyze final products because of its advantageous characteristics.
Growth Drivers and Opportunities:
- Mass spectrometry is an effective analytical method that is utilized to identify the mass-to-charge ratio of ions. It is widely used in many scientific fields, such as basic research and industrial processes that need accurate measurements of elemental and molecular components.
- Raman spectroscopy is crucial for identifying explosive and dangerous materials in luggage and cargo thanks to its quick and non-invasive analysis features. It is anticipated that there will be an increase in the popularity of Raman spectroscopy, leading to the expansion of the process spectroscopy market in the future.
Key Players:
Leading companies in the global market prioritize strategic acquisitions to enhance their R&D capabilities and gain a competitive advantage, allowing them to provide users with innovative products. Here is the list of the leading companies operating in the market:
- ABB
- Agilent Technologies, Inc.
- Bruker
- BUCHI
- Danaher
- FOSS
- HORIBA
- Endress+Hauser Group Services AG
- Sartorius AG
- Shimadzu Corporation
- Thermo Fisher Scientific Inc.
- Yokogawa Electric Corporation
Segmentation Overview:
The process spectroscopy market is mainly segmented based on components, technology, application, and region. Based on technology analysis, the molecular spectroscopy segment held the largest market share in 2023. Methods for molecular spectroscopy, such as Near-infrared (NIR), Fourier transform infrared (FTIR), and Raman spectroscopy, provide in-depth molecular information necessary for examining the chemical makeup, arrangement, and quantity of substances.
Furthermore, according to the application analysis, the use of process spectroscopy techniques for real-time monitoring and quality assurance of food products is becoming more common. These methods provide quick testing of important factors like moisture content and levels of fat, protein, and carbohydrates, which are necessary for ensuring product uniformity and adherence to safety regulations.
Process Spectroscopy Market, Component Outlook (Revenue – USD Billion, 2019-2032)
- Hardware
- Software
Process Spectroscopy Market, Technology Outlook (Revenue – USD Billion, 2019-2032)
- Atomic Spectroscopy
- Mass Spectroscopy
- Molecular Spectroscopy
- NIR
- FT-IR
- Raman
- NMR
- Others
Process Spectroscopy Market, Application Outlook (Revenue – USD Billion, 2019-2032)
- Chemical
- Food & Agriculture
- Metal & Mining
- Oil & Gas
- Pharmaceutical
- Polymer
- Pulp & Paper
- Water & Wastewater
- Others
Recent Developments in Process Spectroscopy Industry:
- February 2024: Bruker Corporation Launches BEAM FT-NIR Spectrometer
Bruker Corporation introduced the BEAM, a dedicated single-point spectrometer that utilizes the full power of Fourier-transform near-infrared (FT-NIR) spectroscopy. This new system is designed to enhance in-process control for solid samples, providing real-time data for industries that require precise quality control during production. - April 2024: Metrohm Process Analytics Unveils 2060 XRF Process Analyzer
Metrohm Process Analytics launched the XRF Spectrometer 2060 XRF Process Analyzer, a cutting-edge Energy-Dispersive X-ray Fluorescence (EDXRF) instrument. This tool offers dependable online X-ray fluorescence analysis, enabling better control over liquid processes, improving the accuracy and efficiency of process monitoring in real-time. - January 2023: Avantes Launches Compact Spectrometer
Avantes introduced a new Compact Spectrometer, designed for versatile applications across a variety of industries. This powerful device offers exceptional usability, pushing the boundaries of process spectroscopy by providing a compact yet effective solution for both research and industrial applications.
The process spectroscopy market is experiencing robust growth due to its rising adoption across multiple industries such as oil & gas, pharmaceuticals, food & agriculture, and chemical industries. Process spectroscopy encompasses a range of techniques such as Near-Infrared (NIR), Fourier Transform Infrared (FTIR), Raman, and Ultraviolet-Visible (UV-Vis) spectroscopy. The techniques are employed for real-time monitoring and control of industrial processes. These techniques offer numerous advantages, including nondestructive analysis, rapid data acquisition, and complex mixture analyze, making them invaluable in industries such as pharmaceuticals, food & beverages, chemicals, oil & gas, and biotechnology.