Thermal Analysis Market Revenue to Grow at 4.69% CAGR Owing to Rising R&D Activities | Quince Market Insights

Major Players mentioned in the report are Waters, NETZSCH, LINSEIS, Mettler-Toledo, PerkinElmer, SETARAM, Shimadzu

Pune, June 15, 2023 (GLOBE NEWSWIRE) -- According to a recent report published by Quince Market Insights, the global Thermal Analysis Market size is expected to account reach USD 669.8 Million in 2023 and could account for USD 1,012 Million over the forecast period of 2023 to 2032.

The market growth is attributed to the constant increase in research and development activities. Thermal analysis plays a crucial role in research and development (R&D) activities across various sectors. It aids in the development of advanced materials, such as composites, ceramics, and biomaterials, by providing insights into their thermal behavior. The increasing focus on R&D and innovation in industries like automotive, aerospace, and electronics is driving the demand for thermal analysis equipment.

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Along with that, continuous advancements in thermal analysis instrumentation, software, and data analysis techniques are boosting market growth. Manufacturers are incorporating advanced features like high sensitivity, rapid scanning rates, and automated data analysis capabilities into thermal analyzers, making them more user-friendly and efficient.

Overall, the combination of industry demand, quality control requirements, R&D activities, regulatory compliance, technological advancements, sustainability concerns, and emerging applications is propelling the growth of the thermal analysis market.

However, the operation and interpretation of thermal analysis instruments require specialized knowledge and expertise. However, there is a shortage of skilled professionals who are proficient in thermal analysis techniques. This scarcity acts as a barrier to the widespread adoption of thermal analysis in certain industries and regions.

Moreover, thermal analysis generates large amounts of data, and interpreting this data accurately can be complex. Analyzing thermal curves, identifying phase transitions, and extracting meaningful information requires a good understanding of the principles and techniques involved. The complexity of data interpretation can hinder the adoption of thermal analysis, particularly among users who are not familiar with the technology.

What Does the Report Provide?

  • A summary of the global thermal analysis market and associated technologies.
  • Analysis of global industry dynamics, yearly projections and annual compound growth rate predictions (CAGRs).
  • Identification of new market opportunities and targeted consumer marketing strategies for global fuel additives market.
  • Analysis of R&D and demand for new technologies and new applications
  • Extensive company profiles of key players in industry.

Differential thermal analyzers to Gain Traction in the Coming Years

On the basis of product, the market is divided into differential scanning calorimetry analyzers, thermogravimetric analyzers, differential thermal analyzers, simultaneous thermal analyzers, and thermomechanical analyzers. Of these, the differential thermal analyzers (DTA) market share is anticipated to grow at a notable pace.

DTA provides valuable information about the thermal properties and behavior of materials. It can identify phase transitions, such as melting, crystallization, glass transitions, and thermal decomposition. By studying these thermal events, DTA helps in understanding the material's stability, purity, composition, and transformations during heating or cooling processes.

For instance, as per an article published in MDPI in 2022, a research team from China published a paper regarding the synthesis of graphene oxide-doped polyacrylamide gels. To understand 3D network structure and thermal stability, SEM and differential thermal analysis. The paper was expected to benefit the petrochemical sector. 

DTA provides real-time measurement of the thermal behavior of a sample as it undergoes heating or cooling. This enables the observation of dynamic changes in the material's properties and the identification of multiple thermal events occurring simultaneously or sequentially. Real-time monitoring enhances the understanding of the material's behavior and facilitates process optimization.

Thermal analysis market revenue from differential thermal as its sensitivity, precision, versatility, and real-time measurement capabilities make it an essential tool for material characterization, quality control, and research and development activities in various industries.

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Petrochemical Sector to Capture Significant Market Share

Based on the end user, the market is bifurcated into chemical and material manufacturers, pharmaceutical and biotechnology companies, the food and beverage industry, the petrochemical industry, research and academia, and others.

The petrochemical industry is expected to capture significant thermal analysis industry share. Thermal analysis techniques, such as Differential Scanning Calorimetry (DSC) and Thermogravimetric Analysis (TGA), are extensively used for the characterization of polymers in the petrochemical industry.

These techniques provide valuable information about the thermal behavior, melting points, glass transition temperatures, crystallinity, and thermal stability of polymers. Understanding these properties is crucial for quality control, formulation development, and optimizing the performance of polymer-based products.

Petrochemical processes involve the use of equipment and components exposed to extreme temperatures and harsh chemical environments. Thermal analysis techniques assist in evaluating the thermal expansion, thermal conductivity, and thermal shock resistance of materials used in equipment construction. This information helps in selecting suitable materials that can withstand demanding conditions and ensure the safety and longevity of petrochemical equipment.

Simultaneous-Functionality Thermal Analyzers to Witness Rise in Demand

In terms of functionality, the thermal analysis industry is divided into single-functionality analyzers and simultaneous-functionality analyzers. The overall market revenue from simultaneous-functionality analyzers is expected to grow considerably.

The simultaneous-functionality thermal analysis enables the simultaneous measurement of multiple thermal properties or parameters. Instead of performing separate measurements with different instruments, users can obtain multiple data points in a single analysis run. This saves time and reduces the cost associated with running multiple experiments.

Moreover, these analyzers can be used for real-time process monitoring and control. By continuously measuring multiple thermal properties during a process, deviations or changes in the material's behavior can be detected promptly. This enables quick adjustments or interventions to optimize process parameters and ensure product quality and consistency.

Simultaneous-functionality thermal analyzers open up possibilities for advanced applications that require simultaneous analysis of multiple parameters. For example, in materials research and development, these analyzers enable the study of thermal-electrical properties, thermal-optical properties, or thermal-mechanical properties concurrently. This facilitates the investigation of complex material systems and their multifunctional behavior.

Asia Pacific to Emerge as a Potential Growth Ground for Thermal Analysis Industry

Regionally, the market is segmented across Asia Pacific, Middle East & Africa, North America, Europe, and South America. Asia Pacific thermal analysis market is anticipated to garner significant revenue through 2032 owing to the expanding industrial sector.

Various industries including chemicals, pharmaceuticals, polymers, electronics, and automotive are growing exponentially in the Asia Pacific. Thermal analysis techniques are essential for quality control, product development, and process optimization in these industries, further driving market growth.

Along with that, Asia Pacific has witnessed a significant rise in research and development (R&D) activities, particularly in areas like pharmaceuticals, materials science, nanotechnology, and advanced manufacturing. For instance, as per a Biospectrum article, gross expenditure on R&D by major companies across the Asia Pacific region crossed the around $15 billion mark in 2022.

Thermal analysis plays a crucial role in these R&D efforts by providing insights into material properties, phase transitions, and reaction kinetics. The growing emphasis on innovation and technological advancement fuels the demand for thermal analysis instruments.

Moreover, the regional government bodies are actively promoting research, innovation, and technological development. Various funding programs, incentives, and collaborations between academia, industry, and research institutions support the adoption and utilization of advanced analytical techniques like thermal analysis. These government initiatives contribute to market dynamics.

Meanwhile, thermal analysis market share in North America is expected to grow owing to constant technological advancements.

Europe thermal analysis industry is expected to gain traction as the region is home to well-established industrial sectors.

Driven by the strong presence of the petrochemical industry, thermal analysis market is poised to gain considerable profit in the Middle East and Africa.

South America thermal analysis industry size is anticipated to grow at a substantial pace owing to increasing consciousness of environmental issues and sustainability practices

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Key thermal analysis market players include  

  • Waters
  • Mettler-Toledo
  • PerkinElmer
  • Shimadzu


How big is the thermal analysis market?

Thermal analysis market revenue is expected to reach USD 1,012 million by 2032 owing to an increase and research and development activities.

Why is the demand for differential thermal analyzers increasing?

Thermal analysis market revenue from DTA is anticipated owing to its sensitivity, precision, versatility, and real-time measurement capabilities. 

Why is the demand thermal analysis rising across the petrochemical industry?

Petrochemical industry is expected to capture a substantial share of thermal analysis industry as the technique is used extensively for the characterization of polymers.

How is Asia Pacific thermal analysis market growing?

Asia Pacific is poised to hold a significant share of the overall market owing to the expanding industrial sector in the region.

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