X-Ray Photoelectron Spectroscopy Market will rise to US$ 749.8 Million by 2023

The increasing demand for real time monitoring of several chemical reaction followed by need for reliable, non-invasive and cost effective analytical technologies have led to the increasing adoption of several spectroscopic platforms. These technologies are widely used in industries like polymer, plastic, semiconductors and healthcare. Spectroscopy platforms have gained a technological edge over the conventional analysis technologies (physical measurements). X-ray photoelectron spectroscopy is a quantitative spectroscopic technique deployed for measurement of chemical state, empirical formula, composition of elements, within the material under investigation. XPS platforms are used to analyze a wide range of metals, inorganic compounds, bio-materials, medical implants, biomolecules, polymers, ceramics, bones and others. In order to obtain unambiguous interpretation of process mechanisms and process kinetics, needs a detailed analysis of the surface of the materials thereby creating a strong demand for surface analytical methods. XPS fulfills the aforementioned needs and prove to be a very successful surface analytical tool till date employed across various industries.

The market for global X-ray photoelectron spectroscopy is impacted by several factors such as use of this technology in conjunction with other technologies, supportive government initiatives to encourage research and development activities and awareness among the users. The major end users of these platforms are specifically the trained research professionals working in various industries such as automotive, pharmaceutical, biotechnology, semiconductor, aerospace and others. For instance, in pharmaceutical research, this technique is used to determine the components of biomolecules, analyze the biomaterials, medical implants, determine the drug safety, etc.

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The global X-Ray Photoelectron Spectroscopy market was valued at US$ 443.5 Mn in 2014 and is projected to reach US$ 749.8 Mn by 2023, expanding at a CAGR of 5.8% during the forecast period from 2015 to 2023. Factors such as consistent technological advances followed by increasing demand for reliable and accurate analytical methods favor the growth and acceptance of XPS platforms worldwide. On the other hand, increasing competition from more advanced technologies and lack of satisfied technical expertise are some of the factors that might restrain the market growth.

X-Ray Photoelectron Spectroscopy is employed to conduct various analyses such as forensic, contamination, elemental analysis, electronic density estimation and others. Elemental analysis segment is expected to exhibit highest growth rate during the forecast period owing to possible analysis of almost all elements in the periodic table and in turn these elements are further used in several processes performed across industries. In addition, with the increasing research activities on the spatial control of the various biomolecules and cells used in tissue engineering and other array technologies encourages the growth of XPS in elemental analysis in healthcare sector. Use of XPS in contaminant analysis is indispensable as timely identification of contaminants prevents failure in adhesion, contact bonding issues and others during their manufacturing.

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The awareness levels of XPS in developed economies is high as compared to developing economies. This is majorly attributed to the presence of well-equipped research laboratories followed by presence of trained expertise and favorable government funds to promote research activities in these economies. North America and Europe dominated the global XPS market in terms of market share. The U.S. and the U.K. XPS markets are anticipated to record highest growth rates during the forecast period from 2015 to 2023. However, Asia Pacific is expected to exhibit highest CAGR during the forecast period owing to persistently improving infrastructure followed by implementation of favorable business regulations in countries like India and China. In addition, rigorous efforts implemented by leading market players to expand their operations in developing economies will further boost the growth and acceptance of XPS platforms.

The X-ray photoelectron spectroscopy market has been dominated by few leading players such as Kratos Analytical Ltd. (Shimadzu), Thermo Fisher Scientific, Ulvac PHI, Japan Electron Optics (JEOL) Ltd., among others. The setup of XPS experiment is capital intensive and requires skilled professionals to analyze and interpret the results, hence these companies, with heavy investments, will continue to dominate the market during the forecast period from 2015 to 2023.

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