USD 811 Million Growth in Global X-ray Photoelectron Spectroscopy Market Size - Industry Analysis, Market Trends, Market Growth, Opportunities

NEW YORK, April 18, 2023 /PRNewswire/ -- As per Facts and Factors study, the global X-ray photoelectron spectroscopy market size was worth around USD 522 million in 2021 and is predicted to grow to around USD 811 million by 2028 with a compound annual growth rate (CAGR) of roughly 6.5% between 2022 and 2028.

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X-ray Photoelectron Spectroscopy Market: Overview

A surface-sensitive, non-destructive method called X-ray photoelectron spectroscopy (XPS) is frequently used to examine the outermost 10 nm (30 atomic layers) of both naturally occurring and artificially created materials. By measuring the binding energies of elements, which are connected to the type and strength of their chemical bonds, XPS is frequently used to ascertain the following: a) the composition of material surfaces (elemental identification), b) the relative abundances of these components on surfaces (semi-quantitative analysis), and c) the chemical state of polyvalent ions. The surfaces of many materials, including inorganic compounds (minerals), semiconductors, organic compounds, and thin films and coatings on naturally occurring and artificially created materials, are characterized using XPS. Surface-mediated processes such as sorption, catalysis, redox, dissolution/precipitation, corrosion, and evaporation/deposition type reactions are studied using XPS. The surface composition and chemistry of materials, measured on the order of a few atomic layers (10 nm), are almost always different from the "bulk" composition determined by methods such as energy dispersive spectrometry (EDS) with excitation volumes that can extend up to 3 microns into the material.

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Key Insights:

• As per the analysis shared by our research analyst, the global X-ray photoelectron spectroscopy market is estimated to grow annually at a CAGR of around 6.5% over the forecast period (2022-2028).
• In terms of revenue, the global X-ray photoelectron spectroscopy market size was valued at around USD 522 million in 2021 and is projected to reach USD 811 million, by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• Based on usage type, the contamination detection segment accounted to dominate the market in 2021.
• Based on the application, the healthcare segment is expected to hold the largest market share during the forecast period.
• Based on light source type, the monochromatic segment accounted for the largest revenue share in 2021.
• Based on region, North America is projected to dominate the market during the forecast period.

Facts and Factors published the latest report titled "X-ray Photoelectron Spectroscopy Market Size, Share, Growth Analysis Report By Usage Type (Contamination Detection, Element Detection, Empirical Formula Determination, and Density Estimation), By Application (Healthcare, Semiconductors, Electronics, Aerospace, and Automotive), By Light Source Type (Monochromatic, and Non-Monochromatic), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" into their research database.

Industry Dynamics:

Global X-ray Photoelectron Spectroscopy Market: Growth Drivers

• The increasing use of XPS in various applications to drive the market growth.

The increasing application of XPS in drug discovery is anticipated to drive market growth during the forecast period. The usage of X-Ray photoelectron spectroscopy in the plasma treatment of different medical textiles is projected to drive the global X-Ray photoelectron spectroscopy market. Plasma therapy entails repairing tissue damage caused by accident or surgery. Moreover, Surface qualities must be improved before the implantation of artificial mesh, which is accomplished using modern X-Ray photoelectron spectroscopy technology. This method also improves the quality of implantation material and aids in the decrease of surgical site infections. This aspect is predicted to increase the pace of acceptance of this technology shortly. Furthermore, the use of X-Ray photoelectron spectroscopy technology is becoming more popular in drug discovery research and development. For the development of these medications, biological and chemical synthetic substances must be analyzed. 

Global X-ray Photoelectron Spectroscopy Market: Restraints

• Limited measurement of elements might be hampering the market growth.

Samples for XPS should be appropriate for ultra-high vacuum conditions, as the tiny analytical area that XPS can measure is roughly 10 um. Because XPS is a surface approach, the amount of biological information it can reveal is limited. Because XPS can only test atoms with atomic numbers 3 or above, it cannot distinguish between hydrogen and helium. Moreover, Obtaining XPS spectra findings also takes a significant amount of time. Using a monochromator shortens the length of each experiment. XPS, like other surface examination technologies, has a relative error of 10% in repeated studies. Furthermore, there might be a 20% variation between the measured or inferred value and the true value.

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X-ray Photoelectron Spectroscopy Market: Opportunity

• Favorable government initiatives are expected to provide lucrative opportunities for the market expansion.

Favorable reimbursement policies and increased government spending on healthcare infrastructure by various nations will drive expansion in the X-ray photoelectron spectroscopy market. The presence of professionals, as well as the training provided to healthcare practitioners for operating the equipment, will be a significant growth driver for the X-ray photoelectron spectroscopy market.

Global X-ray Photoelectron Spectroscopy Market: Segmentation

• The global X-ray photoelectron spectroscopy market is segmented based on usage type, application, light source type, and region.

Based on the usage type, the global market is bifurcated into contamination detection, element detection, empirical formula determination, and density estimation. The contamination detection segment accounted to dominate the market in 2021 and is expected to show this pattern over the forecast period. Increasing the use of XPS equipment for contamination detection among researchers and scientists should drive sector growth throughout the projected period. XPS devices examine adhesive bond failures to identify contaminants and bonding chemistry inside various substances. Key industry participants, like Mitsubishi, are now focusing their efforts on R&D that will update the technology incorporated into the XPS systems, providing profitable potential for segmental expansion. On the other hand, the element detection segment is growing at the highest CAGR during the forecast period. XPS is commonly used to identify alkali metal and nonmetals with commercial applications. Furthermore, XPS detects environmental nitrogen, which aids in the control of air pollution by preserving chlorofluorocarbon levels in the atmosphere. The aforementioned considerations, together with the chemical industry's strong demand for element detection in the synthesis of certain chemicals, will support segmental expansion.

Based on the application, the global X-ray photoelectron spectroscopy market is segmented into healthcare, semiconductors, electronics, aerospace, and automotive. The healthcare segment is expected to hold the largest market share during the forecast period. The growth in the segment is attributable to the increasing use of XPS systems in the healthcare sector will boost segment growth. Cancer medicines are now being developed using graphene derivatives. The XPS technique distinguishes superior-grade nano-particles such as graphene, which increases demand for the same, consequently enhancing segmental growth shortly. Besides, the semiconductor segment is anticipated to grow at the highest CAGR during the forecast period because XPS has a wide range of applications in the semiconductor sector due to its ease of use and efficiency in data interpretation.

Based on light source type, the market is segmented into monochromatic, and non-monochromatic. The monochromatic segment held the largest revenue share in 2021 and is expected to show its dominance over the forecast period. Because of their precision and efficiency, XPS devices equipped with monochromatic light sources are frequently sought by researchers. A monochromatic light source strikes parallel to crystal planes at an ideal angle, allowing for precise surface examination of the substances under study.

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List of Key Players in X-ray Photoelectron Spectroscopy Market:

• Olympus Corporation
• Hefei Jingpu Sensor Technology Co. Ltd.
• HORIBA
• Hitachi Ltd.
• Helmut Fischer
• Dandong Dongfang Measurement & Control Technology Co. Ltd.
• The British Standards Institution
• Bruker
• Bourevestnik
• SPECTRO Analytical Instruments GmbH
• Rigaku Corporation
• FAST ComTec GmbH
• Malvern Panalytical Ltd
• ThermoFisher Scientific.

Key questions answered in this report:

• What are the growth rate forecast and market size for X-RAY PHOTOELECTRON SPECTROSCOPY Market?
• What are the key driving factors propelling the X-RAY PHOTOELECTRON SPECTROSCOPY Market forward?
• What are the most important companies in the X-RAY PHOTOELECTRON SPECTROSCOPY Market Industry?
• What segments does the X-RAY PHOTOELECTRON SPECTROSCOPY Market cover?
• How can I receive a free copy of the X-RAY PHOTOELECTRON SPECTROSCOPY Market sample report and company profiles?

Report Scope:

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Regional Dominance:

• North America is expected to dominate the market during the forecast period.

North America accounted for the largest global X-ray photoelectron spectroscopy market share in 2021 and is expected to show its dominance during the forecast period. The growth in the region is attributed to the growing application of XPS for drug safety and medical research, the growing popularity of hyphenated technology, ongoing technological advancements, and the growing demand for spectroscopy in industrial and environmental industries. Furthermore, the presence of major players such as ThermoFisher Scientific, Bruker, and others is anticipated to boost the market growth in the region. Besides, The Asia Pacific XPS market is predicted to develop at the fastest CAGR throughout the forecast period, owing to the huge number of unexplored potentials in India and China's rising markets, as well as continually increasing healthcare infrastructure in these regions.

Global X-ray Photoelectron Spectroscopy Market is segmented as follows:

X-ray Photoelectron Spectroscopy Market: By Usage Type Outlook (2023-2028)

• Contamination Detection
• Element Detection
• Empirical Formula Determination
• Density Estimation

X-ray Photoelectron Spectroscopy Market: By Application Outlook (2023-2028)

• Healthcare
• Semiconductors
• Electronics
• Aerospace
• Automotive

X-ray Photoelectron Spectroscopy Market: By Light Source Type Outlook (2023-2028)

• Monochromatic
• Non-Monochromatic

X-ray Photoelectron Spectroscopy Market: By Region Outlook (2023-2028)

North America

• The U.S.
• Canada

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

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