Product Code: PM5090
The global process spectroscopy market size is expected to reach USD 52.25 billion by 2032, according to a new study by Polaris Market Research. The report "Process Spectroscopy Market Size, Share, Trends, Industry Analysis Report - By Component, Technology (Atomic Spectroscopy, Mass Spectroscopy, and Molecular Spectroscopy), Application, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa); Segment Forecast, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The process spectroscopy market is experiencing robust growth due to its rising adoption across multiple industries such as oil & gas, pharmaceuticals, food & agriculture, and chemical industries. Process spectroscopy encompasses a range of techniques such as Near-Infrared (NIR), Fourier Transform Infrared (FTIR), Raman, and Ultraviolet-Visible (UV-Vis) spectroscopy. The techniques are employed for real-time monitoring and control of industrial processes. These techniques offer numerous advantages, including nondestructive analysis, rapid data acquisition, and complex mixture analyze, making them invaluable in industries such as pharmaceuticals, food & beverages, chemicals, oil & gas, and biotechnology.
The primary growth drivers for the process spectroscopy market are the increasing demand for quality control and regulatory compliance. Stringent regulations, especially in the pharmaceuticals and food & beverages industries, necessitate precise and continuous monitoring of production processes to ensure product safety and quality. Process spectroscopy delivers the necessary tools for achieving these standards by enabling real-time analysis and immediate corrective actions, thereby minimizing the risk of noncompliance and product recalls.
Technological advancements play a crucial role in market growth. Innovations in spectroscopic techniques and the development of compact, portable, and user-friendly instruments have expanded their applications and accessibility. Additionally, the integration of spectroscopy with automation and data analytics platforms enhances process efficiency and decision-making, further driving its adoption across various sectors.
Process Spectroscopy Market Report Highlights
Based on technology, the molecular spectroscopy segment accounted for the largest revenue share in the process spectroscopy market in 2023 due to its extensive application in quality control and compliance across various industries.
The food & agriculture segment, by application, is expected to register the highest CAGR due to increasing demand for quality assurance, regulatory compliance, and the adoption of advanced technologies for continuous real-time monitoring and process optimization.
In 2023, North America accounted for the largest share in the process spectroscopy market due to its advanced industrial infrastructure, significant investments in technology and research, stringent regulatory standards, and a strong presence of leading spectroscopy manufacturers.
Asia Pacific is expected to record the highest CAGR during the forecast period. Rapid industrialization, expanding pharmaceutical and food industries, and supportive government initiatives promoting technological adoption are key factors contributing to the regional market growth.
ABB; Agilent Technologies, Inc.; Bruker; BUCHI; Danaher; FOSS; HORIBA; Endress+Hauser Group Services AG; Sartorius AG; Shimadzu Corporation; Thermo Fisher Scientific Inc.; and Yokogawa Electric Corporation are among the global key market players.
Polaris Market Research has segmented the process spectroscopy market report on the basis of component, technology, application, and region:
By Component Outlook (Revenue - USD billion, 2019-2032)
By Technology Outlook (Revenue - USD billion, 2019-2032)
- Atomic Spectroscopy
- Mass Spectroscopy
- Molecular Spectroscopy
- NIR
- FT-IR
- Raman
- NMR
- Others
By Application Outlook (Revenue - USD billion, 2019-2032)
- Chemical
- Food & Agriculture
- Metal & Mining
- Oil & Gas
- Pharmaceutical
- Polymer
- Pulp & Paper
- Water & Wastewater
- Others
By Regional Outlook (Revenue - USD billion, 2019-2032)
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Australia
- Rest of Asia Pacific
- Latin America
- Argentina
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
- Rest of Middle East & Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Process Spectroscopy Market Insights
- 4.1. Process Spectroscopy Market - Market Snapshot
- 4.2. Process Spectroscopy Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Increasing Utilization of Mass Spectrometry in Drug Discovery and Development
- 4.2.1.2. Rising Adoption of Raman Spectroscopy Across Various Sectors
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Spectroscopy Equipment Requires Regular Maintenance and Calibration to Ensure Accuracy and Reliability
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Process Spectroscopy Market Application Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Process Spectroscopy Market, by Component
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 5.3. Hardware
- 5.3.1. Global Process Spectroscopy Market, by Hardware, by Region, 2019-2032 (USD Billion)
- 5.4. Software
- 5.4.1. Global Process Spectroscopy Market, by Software, by Region, 2019-2032 (USD Billion)
6. Global Process Spectroscopy Market, by Technology
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 6.3. Atomic Spectroscopy
- 6.3.1. Global Process Spectroscopy Market, by Atomic Spectroscopy, by Region, 2019-2032 (USD Billion)
- 6.4. Mass Spectroscopy
- 6.4.1. Global Process Spectroscopy Market, by Mass Spectroscopy, by Region, 2019-2032 (USD Billion)
- 6.5. Molecular Spectroscopy
- 6.5.1. Global Process Spectroscopy Market, by Molecular Spectroscopy, by Region, 2019-2032 (USD Billion)
- 6.5.2. NIR
- 6.5.2.1. Global Process Spectroscopy Market, by NIR, by Region, 2019-2032 (USD Billion)
- 6.5.3. FT-IR
- 6.5.3.1. Global Process Spectroscopy Market, by FT-IR, by Region, 2019-2032 (USD Billion)
- 6.5.4. Raman
- 6.5.4.1. Global Process Spectroscopy Market, by Raman, by Region, 2019-2032 (USD Billion)
- 6.5.5. NMR
- 6.5.5.1. Global Process Spectroscopy Market, by NMR, by Region, 2019-2032 (USD Billion)
- 6.5.6. Others
- 6.5.6.1. Global Process Spectroscopy Market, by Others, by Region, 2019-2032 (USD Billion)
7. Global Process Spectroscopy Market, by Application
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 7.3. Chemical
- 7.3.1. Global Process Spectroscopy Market, by Chemical, by Region, 2019-2032 (USD Billion)
- 7.4. Food & Agriculture
- 7.4.1. Global Process Spectroscopy Market, by Food & Agriculture, by Region, 2019-2032 (USD Billion)
- 7.5. Metal & Mining
- 7.5.1. Global Process Spectroscopy Market, by Metal & Mining, by Region, 2019-2032 (USD Billion)
- 7.6. Oil & Gas
- 7.6.1. Global Process Spectroscopy Market, by Oil & Gas, by Region, 2019-2032 (USD Billion)
- 7.7. Pharmaceutical
- 7.7.1. Global Process Spectroscopy Market, by Pharmaceutical, by Region, 2019-2032 (USD Billion)
- 7.8. Polymer
- 7.8.1. Global Process Spectroscopy Market, by Polymer, by Region, 2019-2032 (USD Billion)
- 7.9. Pulp & Paper
- 7.9.1. Global Process Spectroscopy Market, by Pulp & Paper, by Region, 2019-2032 (USD Billion)
- 7.10. Water & Wastewater
- 7.10.1. Global Process Spectroscopy Market, by Water & Wastewater, by Region, 2019-2032 (USD Billion)
- 7.11. Others
- 7.11.1. Global Process Spectroscopy Market, by Others, by Region, 2019-2032 (USD Billion)
8. Global Process Spectroscopy Market, by Geography
- 8.1. Key Findings
- 8.2. Introduction
- 8.2.1. Process Spectroscopy Market Assessment, By Geography, 2019-2032 (USD Billion)
- 8.3. Process Spectroscopy Market - North America
- 8.3.1. North America: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.3.2. North America: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.3.3. North America: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.3.4. Process Spectroscopy Market - US
- 8.3.4.1. US: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.3.4.2. US: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.3.4.3. US: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.3.5. Process Spectroscopy Market - Canada
- 8.3.5.1. Canada: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.3.5.2. Canada: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.3.5.3. Canada: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.4. Process Spectroscopy Market - Europe
- 8.4.1. Europe: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.4.2. Europe: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.4.3. Europe: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.4.4. Process Spectroscopy Market - UK
- 8.4.4.1. UK: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.4.4.2. UK: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.4.4.3. UK: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.4.5. Process Spectroscopy Market - France
- 8.4.5.1. France: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.4.5.2. France: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.4.5.3. France: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.4.6. Process Spectroscopy Market - Germany
- 8.4.6.1. Germany: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.4.6.2. Germany: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.4.6.3. Germany: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.4.7. Process Spectroscopy Market - Italy
- 8.4.7.1. Italy: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.4.7.2. Italy: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.4.7.3. Italy: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.4.8. Process Spectroscopy Market - Spain
- 8.4.8.1. Spain: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.4.8.2. Spain: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.4.8.3. Spain: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.4.9. Process Spectroscopy Market - Netherlands
- 8.4.9.1. Netherlands: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.4.9.2. Netherlands: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.4.9.3. Netherlands: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.4.10. Process Spectroscopy Market - Russia
- 8.4.10.1. Russia: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.4.10.2. Russia: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.4.10.3. Russia: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.4.11. Process Spectroscopy Market - Rest of Europe
- 8.4.11.1. Rest of Europe: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.4.11.2. Rest of Europe: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.4.11.3. Rest of Europe: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.5. Process Spectroscopy Market - Asia Pacific
- 8.5.1. Asia Pacific: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.5.2. Asia Pacific: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.5.3. Asia Pacific: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.5.4. Process Spectroscopy Market - China
- 8.5.4.1. China: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.5.4.2. China: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.5.4.3. China: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.5.5. Process Spectroscopy Market - India
- 8.5.5.1. India: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.5.5.2. India: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.5.5.3. India: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.5.6. Process Spectroscopy Market - Malaysia
- 8.5.6.1. Malaysia: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.5.6.2. Malaysia: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.5.6.3. Malaysia: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.5.7. Process Spectroscopy Market - Japan
- 8.5.7.1. Japan: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.5.7.2. Japan: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.5.7.3. Japan: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.5.8. Process Spectroscopy Market - Indonesia
- 8.5.8.1. Indonesia: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.5.8.2. Indonesia: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.5.8.3. Indonesia: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.5.9. Process Spectroscopy Market - South Korea
- 8.5.9.1. South Korea: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.5.9.2. South Korea: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.5.9.3. South Korea: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.5.10. Process Spectroscopy Market - Australia
- 8.5.10.1. Australia: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.5.10.2. Australia: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.5.10.3. Australia: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.5.11. Process Spectroscopy Market - Rest of Asia Pacific
- 8.5.11.1. Rest of Asia Pacific: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.5.11.2. Rest of Asia Pacific: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.5.11.3. Rest of Asia Pacific: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.6. Process Spectroscopy Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.6.2. Middle East & Africa: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.6.3. Middle East & Africa: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.6.4. Process Spectroscopy Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.6.4.2. Saudi Arabia: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.6.4.3. Saudi Arabia: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.6.5. Process Spectroscopy Market - UAE
- 8.6.5.1. UAE: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.6.5.2. UAE: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.6.5.3. UAE: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.6.6. Process Spectroscopy Market - Israel
- 8.6.6.1. Israel: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.6.6.2. Israel: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.6.6.3. Israel: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.6.7. Process Spectroscopy Market - South Africa
- 8.6.7.1. South Africa: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.6.7.2. South Africa: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.6.7.3. South Africa: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.6.8. Process Spectroscopy Market - Rest of Middle East & Africa
- 8.6.8.1. Rest of Middle East & Africa: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.6.8.2. Rest of Middle East & Africa: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.6.8.3. Rest of Middle East & Africa: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.7. Process Spectroscopy Market - Latin America
- 8.7.1. Latin America: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.7.2. Latin America: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.7.3. Latin America: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.7.4. Process Spectroscopy Market - Mexico
- 8.7.4.1. Mexico: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.7.4.2. Mexico: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.7.4.3. Mexico: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.7.5. Process Spectroscopy Market - Brazil
- 8.7.5.1. Brazil: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.7.5.2. Brazil: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.7.5.3. Brazil: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.7.6. Process Spectroscopy Market - Argentina
- 8.7.6.1. Argentina: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.7.6.2. Argentina: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.7.6.3. Argentina: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
- 8.7.7. Process Spectroscopy Market - Rest of Latin America
- 8.7.7.1. Rest of Latin America: Process Spectroscopy Market, by Component, 2019-2032 (USD Billion)
- 8.7.7.2. Rest of Latin America: Process Spectroscopy Market, by Technology, 2019-2032 (USD Billion)
- 8.7.7.3. Rest of Latin America: Process Spectroscopy Market, by Application, 2019-2032 (USD Billion)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. ABB
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Agilent Technologies, Inc.
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. Bruker
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. BUCHI
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. Danaher
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. FOSS
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. HORIBA
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. Endress+Hauser Group Services AG
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. Sartorius AG
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. Shimadzu Corporation
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development