Laser Induced Breakdown Spectroscopy (LIBS) Market Scope
LIBS (laser-induced breakdown spectroscopy) is also referred to as LSS (laser spark spectrometry) or a LIPS (laser-induced plasma spectrometry). It is a powerful analytical technique which is been used for the detection and characterization of various materials. In LIBS, a focused laser beam is used to generate a plasma plume on the surface of solid and liquid samples or inside the sample volume of gases, liquids, and aerosols. It is a novel technique for elemental analysis based on the laser-generated plasma. LIBS is an atomic emission spectroscopy technique that uses highly energetic laser pulses to provoke optical sample excitation. The main challenge that LIBS needs to address is its recognition as a standard in chemical quantitative analysis. Along with this certain factors like growing application in cultural heritage, analysis is driving the market growth. The field of LIBS has been rapidly maturing as a consequence of interest in LIBS for a broad spectrum of applications and the recent development of LIBS analytical systems by the commercial sector.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Bruker (United States), Rigaku (Japan), Laval Lab (Canada), Avantes (Netherlands), Hitachi (United Kingdom), SECOPTA (Germany), TSI Incorporated (United States), P&P Optica (Canada) and Princeton Instruments (United States) |
CAGR | % |
The market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Laser Induced Breakdown Spectroscopy (LIBS) market throughout the predicted period.
Bruker (United States), Rigaku (Japan), Laval Lab (Canada), Avantes (Netherlands), Hitachi (United Kingdom), SECOPTA (Germany), TSI Incorporated (United States), P&P Optica (Canada) and Princeton Instruments (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are B&W Tek (United States) and Ocean Opticsc (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Laser Induced Breakdown Spectroscopy (LIBS) market by Type , by Application (Archeology and Cultural Heritage, Biomedical, Manufacturing Industry and Geological Samples) and Region with country level break-up.
On the basis of geography, the market of Laser Induced Breakdown Spectroscopy (LIBS) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
Bruker announced the acquisition of the Magnettech EPR business from Freiberg Instruments GmbH, and the establishment of a related, long-term EPR supply partnership with Freiberg Instruments.
Bruker announced the launch of the novel, stand-alone FTIR (Fourier Transform Infrared) imaging microscope LUMOS II, which provides ultrafast FTIR imaging capabilities using focal-plane array (FPA) detectors in its high-end version. The new, automated LUMOS II is designed to identify particles, to determine coatings and contaminations, and to reveal polymeric compositions.
Influencing Trend:
Achievements has been achieved in both laser and detector and technology
Market Growth Drivers:
Growing application of LIBS in the field of cultural heritage analysis, Extremely fast measurement time and Fast method for the detection and quantification of the contaminants in various categories of samples
Challenges:
Possibility of ocular damage by the high-energy laser pulses
Restraints:
Increased cost and system complexity
Opportunities:
Development of LIBS as a tool for chemical measurements, with significant efforts in developing new devices
Key Target Audience
Manufacturers, Distributors/Traders/Wholesalers, Sub-component Manufacturers, Industry Association and Downstream Vendors