Global IR Spectroscopy Market overview: IR spectroscopy is a technique used to identify unknown materials, confirm product quality and purity, and find hidden interactions and structures. IR spectroscopy analysis involves exposing a sample to infrared light which causes the bonds between atoms in a molecule to vibrate at characteristic frequencies. This allows the identification of functional groups which determine a material's properties.
The Global IR Spectroscopy Market is estimated to be valued at US$ 1.30 Bn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Global IR Spectroscopy Market include Shimadzu Corporation, ZEISS, PerkinElmer Inc., Agilent Technologies, Inc., Bruker Corporation, ABB, Thermo Fisher Scientific Inc., Horiba, Ltd., Sartorius AG, Hitachi High-Tech Corporation, Oxford Instruments, Jasco, Teledyne Princeton Instruments, Foss, Lumex Instruments, Spectra Analysis Instruments, Inc., Galaxy Scientific, Microptik, Isben Photonics, and Bayspec. Key players are focusing on developing new IR spectroscopy technologies with advanced capabilities to gain a competitive edge.
The growing demand for improved materials characterization is fueling the Global IR Spectroscopy Market. IR spectroscopy is increasingly being used in sectors such as semiconductor, automotive, aerospace, polymers, chemicals and life sciences to analyze product purity and composition which is driving market growth.
The Global IR Spectroscopy Market Size is expanding globally due to increasing R&D investments and focus on analytical technologies by organizations. Growing infrastructure and research spending in Asia Pacific and South America is boosting the adoption of IR spectroscopy in these regions.
Market drivers: Technological advancements are a key driver of the Global IR Spectroscopy Market. Players are developing Fourier transform infrared (FTIR) spectrometers, dispersive spectrometers, portable spectrometers, imaging spectrometers and synchrotrons with greater sensitivity, speed and precision. miniaturized IR spectrometers are also gaining popularity due to their compact size and ability to analyze samples on-site or during production processes. These innovations are supporting more widespread usage of IR spectroscopy across industries.
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