In 2018, the global XRF analyzer market was valued at nearly USD 2.2 billion. Over the forecast period from 2019 to 2027, the market is projected to grow at a compound annual growth rate (CAGR) of approximately 5.7%. This growth is driven by increasing applications of XRF analyzers across various industries including mining, environmental testing, and manufacturing, fueled by their ability to provide accurate and rapid elemental analysis. Additionally, advancements in technology enhancing the performance and reliability of XRF analyzers are expected to further boost market expansion during the forecast period.
Adopting XRF analyzers for mining industry to analyse ceramics, glass, metals, and likewise is on a substantial rise. On-site geochemical analysis of mine face, drill core, or for preparing samples could be performed through handheld XRF analyzers. Technologically advanced XRF analyzers are being made available, which come with radiation safety, proximity sensors, enhanced detection parameters, high-count, and better resolution rate.
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These days, the manufacturing vertical is also showing an inclination towards identifying numerous metals including platinum, gold, and others. The gold processing services, gold recyclers, and gold refiners are amongst the prominent users of XRF analyzers. They help in determining gold concentration or gold karat.
The other application area is the ‘chemical’ vertical. XRF analyzer does help with appropriate liquid and solid material samples to offer precise results. These XRFs are accompanied with software’s that are designed for facilitating measurement process. That includes generation of personalized measurement reports, enabling the measurements’ traceability, and establishing interface with internal networks.
The organizations dealing with electroplating, electronics, gold, automotive, and jewellery are making use of XRF analyzers to exercise quality control. Thus, segregation could be carried out with utmost modality with respect to XRF analyzer.
Future Market Insights has walked through these nitty-gritties with future perspectives in its latest market study entitled ‘XRF Analyzers Market’.
Key Takeaways from XRF Analyzer Market
- North America holds the largest market share with the mining vertical witnessing an exponential growth in the forecast period.
- Europe stands second with Germany, Belgium, and Denmark expected to make greater strides in the forecast period. Russia is also expected to grow on an unstoppable note herein.
- The Asia-Pacific is expected to hold the largest market share in the XRF analyzer market in the forecast period due to increased focus on the applications pertaining to metals and mining.
- MEA is poised to grow inadvertently in XRF analyzer market due to industrialization moving at a rapid pace.
“With rising demand for portable/handheld XRF analyzers in oil & gas and mining vertical, the global XRF analyzers market is bound to grow on a voracious note going forward”, says an analyst from Future Market Insights.
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Competitive Analysis
- Vanta Analyzer from Olympus is amongst its most advanced, handheld X-Ray fluorescence (XRF) device. It makes provisions for precise, rapid element analysis coupled with identification of alloys to the customers demanding laboratory-quality results. These XRF analyzers are constructed to be pretty rugged, so that the maintenance costs could be minimized.
- Horiba’s XRF analyzers offer high performance EDXRF (energy dispersive X-Ray fluorescence) analysis with exceptional capabilities. XGT (X-Ray Guide Tube) technology is a patented one for Horiba. It does combine conventional X-Ray fluorescence methodology with ‘small spot analysis’. Versatility in analysis is rendered through high intensity X-Ray beams with diameters ranging between 3 mm and 10 µm.
- Fischerscope X-Ray XRF from Helmut Fischer uses cutting-edge technology with various extended statistic functions including measurement results to be reported in the form of SPC charts.
What does the Report Cover?
- Future Market Insights offers an exclusive perspective and various real-time insights on the XRF analyzer market in its latest study, presenting historical demand assessment of 2018 – 2019 and projections for 2019 – 2027.
- The research study is based on modularity type (portable/handheld and benchtop), by product type (energy dispersive XRF and wavelength dispersive XRF), and by end-use (metal and mining industries, pharmaceuticals, oil & gas, environmental research, and art and archeology).
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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