Future Market Insights,
in its new study, reveals that the global colorimeter market is estimated to be valued at ~US$ 635 Mn in
2019, and expand at a CAGR of ~8% during the forecast period of 2019-2029.
Gains remain primarily fuelled by the increasing usage of colorimeters in
rapidly expanding end-use sectors such as food & beverages, pharmaceuticals,
paints & textiles, chemical, and water utilities.
Colorimeters are in demand for the study of materials,
such as consumer electronics, vehicles, food items, and plastics in which
colours are among the crucial parameters. In addition, the need for conducting
constant environmental analysis, which includes water quality and analysis of
soil components, has been on the rise, as factors such as global warming and
pollution are affecting the quality of natural content. As a result,
colorimeters are gaining significant traction among researchers, scientists and
laboratory experts for the testing of environmental factors.
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Growth Opportunities in North America & East Asia
Regions such as North America & East Asia are anticipated to
hold significant share in the colorimeter market in terms of value. In East
Asia, China will continue to offer greater opportunities for the colorimeter
market players, in the view of rapidly expanding water utilities and food &
beverage industries to sustain the needs of growing populace. Some
macroeconomic factors such as increasing contribution of water utilities
towards GDP growth, heavy investments in research and development, significant
growth of end-use industries, and strong presence of manufacturers in the
region are also playing a role in shaping the market for colorimeters. In
sequence, the analytical testing instruments manufacturing industry of East
Asia is gaining substantial and positive momentum, which is forecasted to drive
the growth of the colorimeter market in East Asia.
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.
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Colorimeters to Witness High Demand
In 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.
Market: Vendor Insights
The 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.
reports from Testing Equipment Market Insights: