New York, Nov. 10, 2022 (GLOBE NEWSWIRE) -- According to The Insight Partners new research study titled "X-Ray Photoelectron Spectroscopy Market Size, Share, Growth and Forecast to 2027 – COVID-19 Impact and Global Analysis – by Product Type, Usage, Application, and Geography," the global market was valued at USD 554.07 million in 2019 and is expected to grow at a CAGR of 6.2% from 2020 to 2027 to reach USD 896.90 million by 2027.
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Global X-Ray Photoelectron Spectroscopy Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | USD 554.07 million in 2019 |
| Market Size Value by | USD 896.90 million by 2027 |
| Growth rate | CAGR of 6.2% from 2020 to 2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
| No. of Pages | 179 |
| Historical data available | Yes |
| Segments covered | Product Type, Usage, Application, and Geography |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Global X-Ray Photoelectron Spectroscopy Market: Competitive Landscape and Key Developments
The X-ray photoelectron spectroscopy market comprises many large and small enterprises. They adopt various strategies, such as new product launches, regional expansion, and technological advancements, to increase their market share.
Thermo Fisher Scientific Inc., Shimadzu Corporation, ULVAC-PHI INCORPORATED, OCI Vacuum Microengineering Inc., Staib Instruments, JEOL Ltd., Scienta Omicron, PREVAC, Nova Measuring Instruments Ltd., and SPECS GmbH are among the key players operating in the X-ray photoelectron spectroscopy market. The companies adopt product innovation strategies to meet the evolving customer demands worldwide, to maintain their brand value in the global X-ray photoelectron spectroscopy market.
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A few of the recent developments by major players in the X-ray photoelectron spectroscopy market are mentioned below:
- In February 2017, ULVAC-PHI, Incorporated introduced PHI Quantes under its X-ray Photoelectron Spectroscopy / XPS product category. The product comes equipped with dual scanning X-ray source composed of a hard X-ray source (Cr K) and a conventional soft X-ray source (Al K), with different energy values. It is capable of analyzing very small and large areas of the uniform sample surface.
- In June 2017, Shimadzu acquired AlsaChim, a France-based company involved in independent contract research and development business. The 100% acquisition strengthened the company's business in Europe.
- In June 2019, Shimadzu established a new R&D Center at Sanjo Works (Kyoto City) to develop innovative product solutions for customers and society. The KYOLABS collaborative research and development laboratory aims at developing revolutionary technologies.
- In May 2021, Thermo Fisher launched a new and fully automated XPS system for surface analysis and to boost productivity and innovation for academic and industrial labs.
X-ray photoelectron spectroscopy (XPS) is extensively used for surface analysis, measurement of element composition, and providing valuable quantitative and chemical information of the material under study. XPS can identify chemical species, quantify the content present in the sample, and determine the surface species interaction. Besides, it can also determine the empirical formula.
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X-Ray Photoelectron Spectroscopy Market is Growing Due to Increasing Funding by Private Bodies in R&D
In order to support R&D activities, various public and private organizations provide funds to researchers for technical innovation in several countries worldwide. A number of pharmaceutical and biopharmaceutical companies conduct research to intensify the preference of technologically advanced XPS devices. In August 2019, Binghamton University, a State University of New York, acquired a new X-ray tool, HArd X-ray Photoelectron Spectroscopy system (HAXPES), useful in the research of materials and R&D of electronics.
HAXPES enables researchers to get detailed information about a material or device without taking it apart. The system costs USD 1.75 million, which is the third of its type in the world and the very first type outside Europe. It received a funding of USD 1.23 million from the National Science Foundation's Major Research Instrumentation program and additional amount from the campus. Thus, the increasing initiatives and funds provided by private and public organizations are expected to drive the sales of X-ray photoelectron spectroscopy, thereby propelling the market growth.
The global x-ray photoelectron spectroscopy market is segmented by product type, usage, application. Based on the product type, the market is segmented into monochromatic x-ray photoelectron spectroscopy, and non-monochromatic x- ray photoelectron spectroscopy. The monochromatic x-ray photoelectron spectroscopy segment is expected to dominate the product type segment market due to the benefits offered by monochromatic x-ray photoelectron spectroscopy over non-monochromatic x- ray photoelectron spectroscopy. Based on the usage, the market is segmented into element detection, contamination detection, density estimation, empirical formula determination, and others. The element detection segment held the largest share of the application segment during the forecast period. Similarly, based on the application, the X-ray photoelectron spectroscopy is categorized as healthcare, aerospace, automotive, and others. The healthcare segment held the largest share of the application segment during the forecast period.
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