Global X-ray Fluorescence (XRF) Market to Become Worth US$ 6.5 Billion by 2022 and is Projected to Register a CAGR of 5.0% by 2026 - MarketResearch.biz
NEW YORK, August 6, 2018 /PRNewswire/ --
MarketResearch.biz announces publication of its most recently generated research report titled, "Global X-ray Fluorescence (XRF) Market [https://marketresearch.biz/report/x-ray-fluorescence-market ] by Product Type (Handheld and Desktop), By Application (Cement, Mining & metals, Petroleum, Chemicals, Environmental, and Food & Pharmaceutical), and Region/Country - Global Forecast to 2026.", which offers a holistic view of the X-ray fluorescence (XRF) market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2018-2022) is projected to be over US$ 6.5 Bn, which is expected to increase rather moderately over the latter part of the five-year forecast period.
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XRF analyzers determines the chemistry of a sample by measuring the fluorescent X-ray that is emitted from a sample when it is excited by a primary X-ray source. XRF spectrometer does not require use of gases, liquids, expensive acids, and fume hoods to operate, which allows the instrument to be placed in production facility, right next to the production line for at-line process control. Also, the instruments are easy to install and operate.
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Global X-ray Fluorescence (XRF) Market: Market Dynamics
Initial set-up costs for ICP and AAS is comparatively higher than that for XRF technology, owing to costs incurred on instrument and infrastructure of the former two technologies. Other costs incurred on ICP and AAS include that for gases, acids, and electricity to operate the instruments. Lower cost of XRF devices permits multiple measurements throughout the lifecycle of a material or component for performing live verification. Advantages of X-ray fluorescence (XRF) over inductively coupled plasma mass spectrometry (ICP) and atomic absorption spectroscopy (AAS) are expected to be major factors driving the market growth.
Moreover, technical advancements of X-ray fluorescence (XRF) especially in micro-XRF instruments for elemental mapping - wherein, coaxial cameras and piezoelectric stages facilitate precise positioning - and silicon drift energy dispersive X-ray detectors that are capable of processing at very high count rates (100k-500k cps) and providing high resolution imaging is expected to further drive market growth in future.
However, XRF also cannot be used to determine Beryllium content, which is a distinct disadvantage when measuring alloys or other materials that might contain Beryllium, and is expected to hamper growth of the target market to a certain extent.
Several advancements in XRF-related technologies such as total-reflection XRF (TXRF) and micro-calorimeters and transition edge sensor (TES) X-ray detectors, can create potential revenue opportunities for players in the target market. These advancements will help to overcome various limitations related to XRF regarding the age and calibration of instruments, costs of setting up, matrix effects to be considered, and the stringent sets of standards
Global X-ray Fluorescence (XRF) Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global X-ray fluorescence (XRF) market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global X-ray fluorescence (XRF) market is expected to expand at a moderate CAGR of 5.0% during the forecast period.
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Global X-ray Fluorescence (XRF) Market: Segmental Snapshot
The market report has been segmented on the basis of product type, application, and region/country. The product type segment includes handheld and desktop. The application segment includes cement, mining & metals, petroleum, chemicals, environmental, and food & pharmaceutical. The regions/countries covered in the analysis include North America, China, Europe, Japan, Southeast Asia, and India.
By Type: The handheld segment is expected to be fastest growing product type segment in the global X-ray fluorescence (XRF) market with a CAGR over 5% between 2018 and 2027
By Application: The mining & metals segment is expected to account for highest revenue share among the application segments in the global X-ray fluorescence (XRF) market, which is projected to expand at highest CAGR of over 5% over the forecast period
By Region/Country: The market in North America accounted for highest revenue share in the global X-ray fluorescence (XRF) market in 2017, and is expected to register a CAGR over 4.5% between 2018 and 2027. North America leads in terms of corn production, and soils need to be accurately analyzed for heavy and pollutant metals. X-ray fluorescence device is ideal for such analysis, which is likely to boost adoption such devices in the countries in region to a significant extent.
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Global X-ray Fluorescence (XRF) Market: Competitive Analysis
The research report on the global X-ray fluorescence (XRF) Market includes profiles of some of major companies such as OJSC NPP Burevestnik, Bruker Corporation, Baltic Scientific Instruments Ltd., Dandong Dongfang Measurement & Control Technology Co Ltd., Elvatech Ltd., HELMUT FISCHER GmbH, Hitachi High-Technologies Corporation, HORIBA, Ltd., SUZHOU LANScientific Co., Ltd., Olympus Corporation, Oxford Instruments plc., Malvern Panalytical Ltd., PERSEE ANALYTICS, INC., Polywis Technology Ltd., Rigaku Corporation, Shimadzu Corporation, Skyray Instrument Inc., AMETEK, Inc., Thermo Fisher Scientific Inc., and Eurocontrol Technics Inc.
The Global X-ray Fluorescence (XRF) Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2018-2027 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global X-ray fluorescence (XRF) market for 2018-2027.
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