The sale of elemental analyzers registered in 2018 were around 270,000 units and the elemental analyzer market will register a 5.0% Y-o-Y growth in 2019, according to a comprehensive study conducted by Future Market Insights (FMI). Key factors including the introduction of new products by providers to deliver real-time, accurate, and quick results along with adoption amongst institutes for ascertaining elemental concentrations will continue to influence the growth of the elemental analyzer market.
The FMI study reveals that over 4 in 10 elemental analyzers sold across the globe are CHS analyzers, recording a projected sales of approximately 113,000 units in 2018. The development of novel compounds including silver vanadate for application in permanent combustion tube packaging is one of the leading traits supporting CHS analyzer sales. The introduction and discovery of such materials has resulted in increased activity and greater capacity for analysis of halogens and sulfur. Furthermore, the new materials act as indicators for signaling their depletion, thereby enhancing the efficiency and functionality of new CHS analyzers being designed.
According to the study, benchtop presently remains a top-selling type of modularity of elemental analyzer, while the demand for portable/handheld elemental analyzer is likely to gain traction among end-users throughout the forecast period. As applications of elemental analysis expand continually, they are engulfing quality control, product inspection, along with research and development at a number of production sites. This has further translated in the requirement for high degree of analytical and measurement capabilities, along with quick and easy operations.
Elemental Analyzer Vendors Aim to Provide Value-added Service Offerings
Leading vendors in the elemental analyzer market are concentrating on offering value-added services to users, FMI study finds. These vendors are majorly delivering additional software in combination with elementary analyzers, for successfully integrating the results attained from the analysis. This, coupled with the increasing focus of prominent companies on data integration, will continue to push the growth of the elemental analyzer market. Furthermore, key factors including the software’s capability for running on multitude of workstations, along with collection of exploratory data for generating actionable insights is anticipated to support the growth of the elemental analyzer market.
FMI study reveals that the adoption of elemental analyzers among academic institutions is growing extensively. This trend is anticipated to remain prevalent in the foreseeable future. Various academic institutes worldwide are witnessed buying products appropriate to elemental analysis for ascertaining concentration of elements in a range of matrices. Large number of institutes are involving in strategic partnerships with research laboratories, thereby resulting in improvements in the research activities across fields including medicine, metabolomics, and proteomics. In addition, governments around the world are providing funds to academic institutes for acquiring essential equipment for a range of analysis.
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Strong Elemental Analyzer Sales Witnessed in the Mining Industry
FMI study highlighted that with sales in mining industry estimated to account for about 30% market volume share in 2019, the demand for elemental analyzers is expected to remain relatively strong in this industry. This demand is attributed to the significant role of elemental analyzers in process control of grinding and flotation plants of the mineral processing operations. The FMI study anticipates that the elemental analyzer demand in the mining industry will continue to grow as the need for high-availability and accurate elemental analysis persists, for enabling enhancements in the product quality. The study further states that the elemental analyzer market will continue to remain moderately fragmented with prominent companies directing their focus towards innovative product development compliant with precise manufacturing standards.
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