Industry Background:
X-ray fluorescence (XRF) is an analytical method for the determination of the elemental composition of many types of materials. It is highly required for both research & development, and quality assurance functions. The XRF products are used to analyze products from cement to plastics, and from metals to food to semiconductor also, across various industries. With the growing demand of material characterization and analysis to make sure the product chemistry specifications. XRF instrumentation delivers enhanced analysis and safety, along with increased sensitivity, resolution, and limits the detection for liquids analysis such as the petroleum industry. As with the growth of the petroleum industry this market is seeing strong growth potential globally, there are over 1,800 gas processing plants in operation, and growing investment in such facilities is dictated by unique supply and demand circumstances across various geographies. With the advancement in X-ray technology provide huge development in XRF capabilities with high spatial resolution analysis and many more. After using XRF no manual intervention required for analysis, not any radioactive sources permission required, not any liquid nitrogen cooling required, and others. With the high adoption of the handheld analyzer in the pharmaceutical industry, and with the high growth in the pharmaceutical industry around ~USD 1.11 trillion till FY2018, this shows the huge demand in future, from them, approximately USD150 billion is spent by pharmaceutical companies yearly on research and development concerns.This growth is primarily driven by Growing Demand Quality Control Inspection for Product Chemistry Specification and High Requirement for Analysis Sensitivity and Safety for Liquids.
Globally, a noticeable market trend is evident Technology Advancement with Upgradation of X-Ray Technology
. Major Manufacturers, such as Bourevestnik (Russia), Bruker (United States), Baltic Scientific Instruments (Latvia), SPECTRO Analytical Instruments GmbH (Germany), Elvatech Ltd. (Ukraine), Fischerwerke GmbH & Co. KG (Germany), Hitachi (Japan), Horiba (Japan), LANScientific (China), Olympus (Japan) and Thermo Fisher (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In Jul 2019, Rigaku Corporation and DYG Holdings LTD announced the acquisition of XwinSys technology Development Ltd., XwinSys is an innovative metrology solution based enhanced X-ray Technology Company. Through this agreement, Rigaku is able to expand its product lines in the semiconductor industry.
In Oct 2019, Thermo Fisher Scientific announced the launch of a handheld X-ray fluorescence analyzer known as IonicX XRF Analyser. This provides benefits to pharmaceutical and biopharmaceutical manufacturers to identify ionic salt in warehouses. This product is made-up with the help of advanced technology with conventional analysis techniques.
Market Drivers
- Growing Demand Quality Control Inspection for Product Chemistry Specification
- High Requirement for Analysis Sensitivity and Safety for Liquids
Market Trend
- Technology Advancement with Upgradation of X-Ray Technology
- High Adoption for Industrial Applications Including Cement, Polymers, Refineries, Mining, and Industrial Minerals Because Of Its Robust Analytical Technology
Restraints
- Fluctuation in Foreign Currency Exchange Rates
Opportunities
Strong Growth in Electronics Industry, Along With Growing Requirement of Semiconductor Detectors and Improvement in Signal Processing Requirement Creates Huge Growth Potential In Future
Challenges
High Production Cost Associated With X-Ray Fluorescence Products
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, X-ray Fluorescence Study Sheds Light on
The X-ray Fluorescence Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the X-ray Fluorescence industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where X-ray Fluorescence industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.