Growing demand for quality check and accuracy in product manufacturing has led to the increasing demand for Process Spectroscopy Market. Further, factors such as increasing usage of process spectroscopy in pharmaceutical, chemical and food and agriculture industries, and convergence of spectroscopy technologies into single instrument are expected to foster innovations in the process spectroscopy market.
Growing consumer preference for better quality products and change in regulations across different industries including oil and gas, pharmaceutical, and food and agriculture among others, are mainly encouraging the companies to adopt process analytical technologies. These factors are driving the market for process spectroscopy instruments and solutions. Additionally, the ability of process spectroscopy technologies to provide accurate results in less time encourages several manufacturing companies to adopt these technologies. Further, as the use of process spectroscopy results into quality check at every stage of production, it reduces the cost of rework and scrap for manufacturing companies, hence save inventory cost of the company. High capital investment in developing and maintaining spectroscopes is one of the prominent factors restraining the growth of this market. Furthermore, the introduction of portable and handheld devices with wireless connectivity to computers offers potential opportunities for the market.
Near infrared (NIR) process spectroscopy led the global process spectroscopy market with highest revenue share in 2012. This is due the compatibility of NIR with product manufacturing process in industries such as oil and gas, pharmaceutical, food and agriculture, chemicals and others. However, Raman spectroscopy is expected to grow at faster rate owing to the growing adoption of this technology in pharmaceutical and food and agriculture industry. Due to non-destructive nature of Raman spectroscopy, it leaves no change in the chemical structure of the products during the process analysis. Further, due to convergence capability of FT-IR with both Raman and NIR, it is expected that the demand for process spectroscopy will increase over the forecast period.
This 108 page report gives readers a comprehensive overview of the Process Spectroscopy Market. Browse through 25 data tables and 35 figures to unlock the hidden opportunities in this market:
The process spectroscopy market is expected to witness continuous growth due to rising popularity of spectroscopy technologies and growing consumer preference for high quality products. The innovative product development with technologically advanced features that are being incorporated in spectroscopy instruments is also driving the growth of process spectroscopy market. Advance features in spectroscopy instruments include portability, handheld devices and integrated technologies.-. Other important factor supporting the growth of this market includes widening customer base in Middle East, Latin America, and Asia-Pacific.
The global process spectroscopy market, with an impending demand for analytical solutions, is driven by intense focus of industries such as pharmaceutical, and food and agriculture, on matching international quality standards. As a result, there have been multi-pronged developments especially in spectroscopy technologies such as Raman and Fourier Transform Infrared (FT-IR). Several industries across the globe are demanding innovative solutions that could reduce the cost of analysis and scrap and rework. The table below highlights the current and forecast revenue of the market.
Process spectroscopy is an application of spectroscopic techniques used to analyze a manufactured product in a cost effective and timely manner. A spectrometer generates signals that are used to perform an at-line or in-process measurement of the sample of the product. These signals are converted into graphical representations in order to obtain spectrum. This spectrum is then analyzed using software. There are several types of spectroscopy technologies such as near infrared (NIR) spectroscopy, Fourier Transform infrared (FT-IR) spectroscopy and Raman spectroscopy among others used for process spectroscopy. For instance, at-line measurement is done using near infrared (NIR) spectroscopy to measure the iodine value in a sample. Further, Raman spectroscopy is used to control the process for manufacturing titanium dioxides. This is an example of in-process spectroscopic analysis i.e. analyzing the samples during a manufacturing process. The signals generated are used for either controlling or monitoring the process of manufacturing the product.