Process Analyzer Market: Market Outlook and Trends
The growth indicators that are promoting the market of process analyzers are many but the major one, which is heavily evident is the increase in demand for water & wastewater treatment plants. Along with it the rising competition the industries are having to deliver technologically advanced and high-end products to their consumers. Moreover, we also have a demand for process analyzers in the Oil and Gas industries. Followed by the food and beverages sector, which is constantly growing and barely stops, hence it’s a continuous procedure.
The significant factor that’s aiding in the growth of this market is the fact that many firm regulations that are dedicated to the sorting, testing, and processing of any given consumer good are there and hence have to be applied globally. And these could only be followed or done by using Process Analyzer(s). Lastly, the driving force applied by the whole manufacturing industry with the perpetually modifying trends and ever-renewing automation technologies is boosting the market of Process Analyzer as well.
Source: BlueWeave Consulting
Process Analyzer Market: Overview
A process analyzer is/are a device(s) that could be used for the determination of the chemical composition, physical properties, and topology of the given substance, product, item, etc. present in a process. The process analyzer holds responsibility for process development, protection of the asset, and eventual submission. Industries having large and diversified processing and production lines require improved and top-notch process analyzers which could give predictive alerts, provide suitable solutions to maintain and reduce overall operational costs and mishappenings.
Adoption of process analyzers in Oil and gas industry
In the given industry, the increased familiarization of process analyzer systems could be witnessed. These technological advancements and procedures are present in various forms such as Raman spectroscopy (which is an optical technique) and Tunable Diode Absorption Spectroscopy which allows real-time, fast, and efficient measurement. Additionally, providing long term stability (as its maintenance-free) and the presence of an inbuilt reference gas, hence cutting off the need for on-field calibrations for reference point. Therefore, due to all the listed reasons the demand for high-quality gas analyzers in manufacturing, chemical, medical and pharmaceuticals, food and metal industries will push the market for Process Analyzers in an upward direction.
Adoption of process analyzers in Drug safety
The use of liquid density meters by the Pharma industry to assess material porosity of a solid drug substance or to determine the specific gravity of a given liquid sample. As density evaluation is necessary and useful to fulfill quality control standards; for examining the final state of a solid or suspended formula in the liquids being tested and/or manufactured in a pharmaceuticals plant. TOC (Total Organic Carbon) analyzers are widely used in the pharmaceutical industry to check on water quality and to follow the Environmental Protection Agency (for the US-based pharmaceuticals). Hence, the increasing focus on drug safety, coupled with regulatory requirements to characterize drugs, is likely to boost the demand for process analyzers, especially during the COVID-19 pandemic.
Insufficiency of skilled personnel
The major setback in the process analyzer market is the amount of time, patience, and resources it takes to acquire or gain certain adequate skills to address the variety of disciplines involved in a typical process analyzer project. Most of the highly qualified analyzer engineers are kept at the systems integration level and only a few at the Engineering, Procurement, and Construction (EPC) level, and practically none at the front-end engineering design (FEED) level. So undoubtedly, the constant requirement of skilled professionals who can operate, perform the process equipment is always there. Therefore, finding the perfect candidate who could operate analytical equipment has the expertise and has relevant work experience with the application of suitable tools is crucial and can’t be overseen. As in the pharmaceutical industry, the lack of knowledge, the technique could end in various sever direct and indirect unpleasant outcomes. Therefore, scarcity of desired personnel with the above-mentioned skillset may cause a huge hindrance towards the market growth of Process Analyzer.
Process Analyzer Market: Segmentation
The process analyzer market is segmentation is done based on, state of the Process Analyzers that are Liquid and Gas analyzers, then it is further segmented on End-user industry and the Region. Based on the end-user industry, the market for Process Analyzer is furthermore subdivided into mining, food & beverages, chemical, gas, pharmaceutical, power generation & transmission, etc. Based on region, the global process analyzer market is divided into regions such as South America, Japan, North America, Europe, Asia, and The Middle East.
Process Analyzer Market: Regional Insights
As per the graphs and figures, it will be right to state that the region nesting large industrial bases, is likely to showcase a high demand for process liquid analyzers. Moreover, the huge, elaborated manufacturing sectors in countries like China and India will equally boost the sale in the relevant market. Nations in Europe are anticipated to go well as far as the demand for Process liquid analyzers demand is concerned, all because of the strong performance given by the pharma industries there.