Future Market Insights, in its new study, reveals that the global colorimeter market is estimated to be valued at ~US$ 635 Mn in 2022, and expand at a CAGR of ~8% during the forecast period of 2022 – 2029. Gains remain primarily fuelled by the increasing usage of colourimeters in rapidly expanding end-use sectors such as food & beverages, pharmaceuticals, paints & textiles, chemical, and water utilities.
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2016-2021 Global Colorimeter Market Outlook Compared to 2022-2029 Forecast
Colourimeter demand is rising because of the rapid growth of the pharmaceutical, water utility, and food and beverage industries in various developing economies throughout the world. One of the primary factors likely to fuel the market’s expansion over the forecast period is the region’s increasing industrialization.
Furthermore, governments in various countries, are progressively adopting programs to improve the quality of variables such as water, food and beverage, and other factors, resulting in an increase in demand for colourimeters. The rise of the economies in such regions is mostly fueled by industrialization and urbanization, which is increasing demand for colourimeters in consumer electronics, textiles, and automotive parts, among other things.
The demand outlook for colorimeters between 2014 and 2021 remains 6.6% as the pandemic crisis has impacted the market. The usage of colorimeters is likely to grow at a growth rate of 6.8% by Volume over the assessment period of 2022-2029.
There are stricter regulations for water utilities for environmental monitoring in North American countries, especially in the US. Therefore, the demand for colorimeters is expected to increase considerably during the forecast period, at a significant CAGR.
Portable Colorimeters to Witness High DemandIn the FMI’s study, the colorimeter market has been analysed across various regions such as North America, Latin America, Europe, Middle East & Africa, East Asia, South Asia, and Oceania, in terms of product, portability, and end use.
In recent years, portable colorimeters are gaining higher traction over their stationary counterparts, though the latter continues to account for greater share in the global market. FMI’s study finds that the sales of color densitometers will remain higher than that of color photometers, due to their increasing usage in the manufacturing of food & beverage and water utility industry.
While increasing application of colorimeters in oil & gas industry continues to influence the growth strategies, manufacturers are tapping into newer opportunities in automotive, pharmaceuticals, food & beverages, paints & textiles, chemical, research & educational institutes, agriculture, water utilities, healthcare, automotive & transportation, and electronics.
Colorimeter Market: Vendor InsightsThe report highlights some of the prominent market players that are holding significant shares of the colorimeter market. Some of the prominent players in the global colorimeter market are Thermo Fisher Scientific, Inc., Danaher, Konica Minolta Sensing Americas, Inc., Xylem Inc., Hanna Instruments, and PCE Instruments.
Global Colorimeter Market by CategoryBy Product :
- Color Densitometers
- Color Photometers
By Portability :
- Portable
- Stationary
By End User :
- Pharmaceutical
- Food & Beverage
- Paints & Textile
- Chemical
- Research & Educational Institutes
- Agriculture
- Water Utilities
- Healthcare
- Automotive & Transportation
- Electronics
By Region :
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA).
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
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