NIR Process Analyzer Market - Forecast(2024 - 2030)

Report Code: HCR 1576 Report Format: PDF + Excel

NIR Process Analyzer Market Overview:

NIR Process Analyzer Market size is estimated to reach $805 million by 2030, growing at a CAGR of 5.6% during the forecast period 2024-2030. NIR Process Analyzer are seeing a significant increase in demand for real-time process monitoring and quality control across various industries, including pharmaceuticals, food and beverage, and chemicals. This trend is expected to boost the growth of the NIR Process Analyzer Market during the forecast period.
Additionally, advancements in technology, such as the integration of machine learning and AI algorithms for more precise and predictive analysis, are enhancing the capabilities of these analyzers. Moreover, growing awareness of the benefits of NIR analysis, such as reduced production costs and improved product quality, is boosting market expansion. These factors positively influence the NIR Process Analyzer industry outlook during the forecast period.

Market Snapshot: 



NIR Process Analyzer Market - Report Coverage:

The “NIR Process Analyzer Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the NIR Process Analyzer Market.
 
                      Attribute                         Segment

By Type

  • Filter-based NIR Analyzers

  • Dispersive NIR Analyzers

  • FT-NIR (Fourier-Transform NIR) Analyzers

  • Others

By Category

  • On-line

  • At-line

  • In-line

By Sample Type

  • Solid

  • Liquid

  • Gases

By End Use Industry 

  • Pharmaceutical

  • Food and Beverages

  • Chemical

  • Petrochemical

  • Agriculture

  • Energy

  • Oil and Gas

  • Polymer

  • Others

By Geography

  • North America (U.S., Canada and Mexico)

  • Europe (Germany, France, UK, Italy, Netherlands, Spain, Russia, Belgium and Rest of Europe),

  • Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Taiwan, Malaysia and Rest of Asia-Pacific),

  • South America (Brazil, Argentina, Chile, Colombia and Rest of South America)

  • Rest of the World (Middle East and Africa).


COVID-19 / Ukraine Crisis - Impact Analysis:  

● The COVID-19 pandemic caused a decline in the NIR Process Analyzer market due to initial phases, disruptions in global supply chains and manufacturing operations led to some delays in production and delivery of NIR analyzers. Additionally, reduced industrial activities in sectors like manufacturing, oil and gas, and automotive, which are significant users of NIR analyzers, temporarily slowed down market growth. However, as the pandemic unfolded, there was an increased focus on quality control and real-time monitoring in pharmaceuticals, food production, and other essential industries, leading to a surge in demand for NIR analyzers.

● The conflict between Russia and Ukraine has the potential to impact the NIR Process Analyzer market due to supply chain disruptions. the instability and geopolitical tensions in the region could disrupt the global supply chain for critical components and materials used in the manufacturing of NIR analyzers, potentially leading to supply shortages and increased production costs. Moreover, fluctuations in energy prices and currency exchange rates driven by the crisis may affect the overall cost structure for NIR analyzer manufacturers. Additionally, geopolitical uncertainties can create hesitation among businesses, leading to delayed investment decisions, which could slow down the adoption of NIR analyzers in affected regions. 

Key Takeaways:


● Asia-Pacific to Register Highest Growth.

Asia-Pacific NIR process analyzer market is analyzed to grow with the highest CAGR of 6.7% during the forecast period 2024-2030. The market is expected to grow as a result it has been a hub for manufacturing across various industries, including pharmaceuticals, chemicals, food and beverages, and agriculture. The expansion of these industries has driven the demand for NIR analyzers for quality control, process optimization, and efficiency improvements. Private sector companies & governments in countries like China and India have been investing significantly in infrastructure, research and development, and technological advancements is anticipated to be driven for NIR Process Analyzer in Asia-Pacific region. 

● FT-NIR (Fourier-Transform NIR) Analyzers Segment to Register the Fastest Growth.

The Portable NIR Analyzers segment is analyzed to grow with the highest CAGR of 6.2% during the forecast period 2024-2030. FT-NIR (Fourier-Transform NIR) Analyzers showcases their prowess in rapid and comprehensive spectral analysis. Utilizing Fourier-transform technology, these analyzers capture the entire NIR spectrum simultaneously, enabling efficient and high-speed measurement of chemical and physical properties in diverse materials. Their versatility finds application across pharmaceuticals, food and beverage, and chemical industries, where precision and swift data acquisition are paramount. FT-NIR analyzers offer a distinct advantage by providing detailed insights into complex compositions, facilitating enhanced process control, quality assurance, and compliance with stringent industry standards. As a result, they remain a pivotal and evolving technology in the realm of spectroscopic analysis.

● Oil & Gas Segment to Register the Largest Share.

The Oil & Gas sector held the largest market share of 25% of the global NIR Process Analyzer Market in 2023. The widescale adoption of oilfield digitalization is analyzed to drive the demand of various instrumentation systems including NIR process analyzers. As per the U.S. Energy Information Administration (EIA) 2022, Oil & Gas production increased by 986,000 bpd in the April month. Oil & Gas companies are constantly looking for ways to improve process efficiency and reduce operational costs. NIR analyzers provide real-time data on key parameters such as moisture content, chemical composition, and density, allowing for better process control and optimization.

● Growing Demand for Quality Control in Food and Beverages Industry is a Key Driver Enhancing the Growth of the Market.
 
NIR analyzers offer a quick and non-intrusive way to evaluate the quality of raw materials, intermediates, and finished goods in these sectors where product safety and consistency are crucial. NIR analyzers provide precise measurements of critical parameters like composition, moisture content, and chemical properties, enabling manufacturers to identify and rectify issues in real-time, reduce waste, and maintain product integrity. As these industries continue to grow and evolve, the need for efficient and accurate quality control solutions is expected to drive sustained demand for NIR process analyzers. According to the Association of Southeast Asian Nations 2022, 61% of Vietnamese respondents purchase healthier products. With increasingly stringent regulations and consumer expectations for high-quality and safe products, companies are turning to NIR technology to ensure compliance and meet market demands. 

● High Expenditures for the Equipment Can Hamper the Market Growth

Implementing NIR analyzers often requires substantial investments in terms of acquiring the equipment, integrating it into existing systems, providing employee training, and maintaining the infrastructure for optimal performance. Smaller businesses, in particular, may find these upfront costs challenging, leading to slower adoption rates. Moreover, for established companies with existing infrastructure, the integration of NIR analyzers can be complex and costly. These barriers to entry may hinder market growth, especially in industries or regions with limited financial resources or where cost-effectiveness is a critical concern.  The investment and annual maintenance costs for procuring and utilizing NIRS (Near-Infrared Spectroscopy) technology, sourced from Foss North America, a manufacturer of NIR analyzers, amount to approximately $143,000 and $10,000, respectively. Manufacturers and suppliers of NIR analyzers must work to address these challenges by offering cost-effective solutions and comprehensive support services to mitigate the impact of high infrastructure expenditures on potential customers. These challenges are set to hinder the NIR Process Analyzer market growth in the future.
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Key Market Players: 

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the NIR Process Analyzer Market. The top 10 companies in this industry are listed below:

  1. Thermo Fisher Scientific (Antaris™ MX FT)
  2. Bruker (MATRIX-F II)
  3. Unity Scientific (SpectraStar XT 2600 NIR)
  4. Galaxy Scientific (QuasIR 1000 FT-NIR Spectrometer)
  5. PerkinElmer Inc. (DA 7440 On-line NIR Instrument)
  6. Buchi (NIR-Online X-One)
  7. Metrohm AG (NIRS XDS Process Analyzer)
  8. Modcon Systems LTD (Beacon-3000 NIR Analyzer)
  9. Yenchen Machinery Co., Ltd. (NIRPro II)
  10. ABB (TALYS ASP500)

Scope of Report: 

              Report Metric                            Details

Base Year Considered

  • 2022

Forecast Period

  • 2024–2030

CAGR

  • 5.6%

Market Size in 2030

  • $805 million

Segments Covered

  • Type, Category, Sample Type, End Use Industry and Region

Geographies Covered

  • North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Netherlands, Spain, Russia, Belgium and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Taiwan, Malaysia and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa).

Key Market Players

  1. Thermo Fisher Scientific

  2. Bruker Corp.

  3. Unity Scientific

  4. Galaxy Scientific

  5. PerkinElmer Inc.

  6. Buchi

  7. Metrohm AG

  8. Modcon Systems LTD

  9. Yenchen Machinery Co., Ltd.

  10. ABB Ltd.


1. NIR Process Analyzer Market - Overview
    1.1. Definitions and Scope
2. NIR Process Analyzer Market - Executive Summary
3. NIR Process Analyzer Market - Comparative Analysis
    3.1. Company Benchmarking - Key Companies
    3.2. Global Financial Analysis - Key Companies
    3.3. Market Share Analysis - Key Companies
    3.4. Patent Analysis
    3.5. Pricing Analysis
4. NIR Process Analyzer Market - Start-up Companies Scenario 
    4.1. Key Start-up Company Analysis by
        4.1.1. Investment
        4.1.2. Revenue
        4.1.3. Venture Capital and Funding Scenario
5. NIR Process Analyzer Market – Market Entry Scenario Premium 
    5.1. Regulatory Framework Overview
    5.2. New Business and Ease of Doing Business Index
    5.3. Case Studies of Successful Ventures
6. NIR Process Analyzer Market - Forces
    6.1. Market Drivers
    6.2. Market Constraints
    6.3. Market Challenges
    6.4. Porter's Five Force Model
        6.4.1. Bargaining Power of Suppliers
        6.4.2. Bargaining Powers of Customers
        6.4.3. Threat of New Entrants
        6.4.4. Rivalry Among Existing Players
        6.4.5. Threat of Substitutes
7. NIR Process Analyzer Market – Strategic Analysis
    7.1. Value Chain Analysis
    7.2. Opportunities Analysis
    7.3. Market Life Cycle
8. NIR Process Analyzer Market– By Type
    8.1. Filter-based NIR Analyzers
    8.2. Dispersive NIR Analyzers
    8.3. FT-NIR (Fourier-Transform NIR) Analyzers
    8.4. Others
9. NIR Process Analyzer Market– By Category
    9.1. On-line
    9.2. At-line
    9.3. In-line
10. NIR Process Analyzer Market– By Sample Type
    10.1. Solid
    10.2. Liquid
    10.3. Gases
11. NIR Process Analyzer Market– By End Use Industry  
    11.1. Pharmaceutical
    11.2. Food and Beverages
    11.3. Chemical
    11.4. Petrochemical
    11.5. Agriculture
    11.6. Energy
    11.7. Oil and Gas
    11.8. Polymer
    11.9. Others
12. NIR Process Analyzer Market – by Geography (Market Size – $Million/$Billion) 
    12.1. North America
        12.1.1. The U.S.
        12.1.2. Canada
        12.1.3. Mexico
    12.2. Europe
        12.2.1. UK
        12.2.2. Germany
        12.2.3. France
        12.2.4. Italy
        12.2.5. Spain
        12.2.6. Russia
        12.2.7. Rest of Europe
    12.3. Asia-Pacific
        12.3.1. China
        12.3.2. India
        12.3.3. Japan
        12.3.4. South Korea
        12.3.5. Australia & New Zealand
        12.3.6. Rest of Asia-Pacific
    12.4. South America
        12.4.1. Brazil
        12.4.2. Argentina
        12.4.3. Chile
        12.4.4. Colombia
        12.4.5. Rest of South America
    12.5. Rest of the World
        12.5.1. Middle East
        12.5.2. Africa
13. NIR Process Analyzer Market – Entropy
14. NIR Process Analyzer Market – Industry/Segment Competition Landscape Premium 
    14.1. Market Share Analysis
        14.1.1. Market Share by Type – Key Companies
        14.1.2. Market Share by Region – Key Companies
        14.1.3. Market Share by Country – Key Companies
    14.2. Competition Matrix
    14.3. Best Practices for Companies
15. NIR Process Analyzer Market – Key Company List by Country Premium Premium 
16. NIR Process Analyzer Market - Company Analysis
    16.1. Thermo Fisher Scientific 
    16.2. Bruker Corp.
    16.3. Unity Scientific 
    16.4. Galaxy Scientific 
    16.5. PerkinElmer Inc. 
    16.6. Buchi 
    16.7. Metrohm AG 
    16.8. Modcon Systems LTD 
    16.9. Yenchen Machinery Co., Ltd. 
    16.10. ABB Ltd.

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The NIR Process Analyzer Market is projected to grow at 5.6% CAGR during the forecast period 2024-2030.

Global NIR Process Analyzer Market size is estimated to be $500 million in 2023 and is projected to reach $805 million by 2030.

The leading players in the NIR Process Analyzer Market are Thermo Fisher Scientific, Bruker Corp., Unity Scientific, PerkinElmer Inc., ABB Ltd. and others.

Ongoing technological advancements will lead to more precise, versatile, and user-friendly NIR analyzers, expanding their application potential. The growing emphasis on sustainability and resource optimization will drive adoption in industries seeking to reduce waste and energy consumption. The globalization of markets and consumer demands for high-quality products will necessitate the use of NIR analyzers for consistency and quality assurance are some of the major NIR Process Analyzer Market trends in the industry which will create growth opportunities for the market during the forecast period.

Growing Demand for Quality Control in Food and Beverages Industry, along with an increase in investment by key players to develop innovative NIR Process Analyzer are the driving factors of the market.