The global sphere spectrophotometers market size was USD 1.78 billion in 2017. Increasing research & development in the pharmaceutical sector is expected to be one of the key driving factors for the market growth. Surging requirements for drug discovery & development and bimolecular analysis from the life science industry is the key factor behind the growth of the global sphere spectrophotometer market.
Stringent manufacturing norms to maintain consistency in the production of similar batches of textiles is expected to augment the demand for instruments that can give a reading very close to that of the original batch manufactured. This factor is expected to provide an impetus to the demand for colorimeters. In addition, the need for higher accuracy is expected to augment the demand for spectrophotometers which in turn are attached to various systems and software to automate the reproduction.
The global market for the Sphere Spectrophotometer is anticipated to develop at a compound annual growth rate (CAGR) of 9.1% throughout the course of the forecast, to reach $4,065,7 billion by 2030.
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Bench-top instruments have provision for the measurement of transmitted light as well as reflectance. Proper sampling procedures, experimental design as well as lab practices are all critically important in obtaining reliable laboratory data. Adoption of bench-top instruments for data collection is expected to enhance the global sphere spectrophotometer market size over the forecast period. However, the emerging trend of miniaturization has led to the development of portable devices. Portable sphere spectrophotometers market is expected to show the fastest growth, at a CAGR of 24.4% from 2018 to 2025 on account of its ability to test colors at the clients’ site and obtain results almost instantly.
In 2017, printing & packing was the largest application segment accounting for 43.8% of the market share and is expected to be the fastest growing segment on account of high standards of uniformity in terms of color compliance. Consumer perception of associating colors to brands has resulted in making spectrophotometers an integral part of operations of printing & packing manufacturers. The growth of these end-use industries is expected to further augment the development of this industry. Innovation in terms of software, connectivity over the internet, and portability are some of the features expected to boost the sphere spectrophotometers market over the next few years.
By geography, North America posed lucrative opportunities for the global sphere spectrophotometers market valued over USD 350 million in 2017. The presence of a large manufacturing sector in the region coupled with a high adoption rate of the latest technology by manufacturers has resulted in the growth of the spectrophotometers market over the last few years. The expansion of paint & coatings sector as well increase in penetration of biopolymers in day-to-day products is expected to provide surge the sphere spectrophotometer market growth.
Stringent compliances to maintain uniformity in products, particularly manufactured in bulk, such as automotive coatings, liquid detergents, packaging, cosmetics, and food among others is likely to result in the further development of the market over the next few years. The U.S. textile industry is one of the leaders in the manufacturing sector. The country, also, is one of the leading manufacturers of textiles, yarns, fabrics, apparel and home furnishings, along with other textile finished types. Furthermore, U.S. ranks, third in global export value after China and India.
The market is characterized by a limited number of players including X-rite, Konica Minolta, Shimadzu, BYK Gardner, and Hitachi High Technologies. The market is also dominated by the direct supply of sphere spectrophotometers. The sphere spectrophotometers market has been characterized by direct supply of equipment and related accessories by manufacturers. Several factors including the requirement of an expert sales point of contact, in-depth knowledge of appropriate logistics for storage and transportation, installation, and post-operation services has resulted in the establishment of a direct supply channel. The absence of an indirect marketing channel has resulted in the negligible presence of any distributors, traders, and dealers.
Sphere Spectrophotometer Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2030 |
| Study Period | 2018-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | $4,065,7 billion |
| Growth Rate | CAGR of 9.1 % during 2020-2030 |
| Segment Covered | By Type, By Application, Region. |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Agilent Technologies, Bruker Corporation, Perkin Elmer, Inc., ThermoFisher Scientific, Inc., Danher, Inc. Water Corporation, Shimadzu Corporation, Bio Rad Corporation and others. |
Key segments of the global sphere spectrophotometer market
Type Overview (USD Billion)
- Portable
- Bench-top
Application Overview, (USD Billion)
- Paint & Coating
- Textile & Apparel
- Plastic
- Printing & Packing
- Others
Regional Overview (USD Billion)
- North America
- U.S.
- Canada
- Europe
- France
- UK
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- India
- Japan
- China
- Rest of APAC
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
Frequently Asked Questions (FAQ) :
The global sphere spectrophotometer market size is expected to reach $4,065,7 billion by 2030.
The application of the sphere spectrophotometer market Pharmaceutical Application, Biotechnological Applications, Industrial Applications, Space Applications, Environmental Applications.
X-rite, Konica Minolta, Shimadzu, BYK Gardner, and Hitachi High Technologies are a few major players in sphere spectrophotometer market.