(I-BusinessNews.Com, August 11, 2021 ) According to research report the global thermal analysis market is expected to reach USD 640.7 Million by 2022 from USD 511.5 Million in 2017, at a CAGR of 4.6%.
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Factors such as increasing production of crude and shale oil, patent expiry of blockbuster drugs and biomolecules, and stringent food and product safety regulations are driving the thermal analysis market.
By end user, the thermal analysis market is segmented into pharmaceutical & biotechnology companies, chemical & material manufacturers, food & beverage industry, petrochemical industry, research & academia, and other end users.
On the basis of product, the market is categorized into differential scanning calorimetry analyzers, thermogravimetric analyzers, simultaneous thermal analyzers, differential thermal analyzers, thermomechanical analyzers, dynamic mechanical analyzers, and other thermal analyzers.
Analysis of the market developments revealed that several growth strategies such as product launches, enhancements, strategic acquisitions, agreements, contracts, partnerships, collaborations, and expansions were adopted by the market players to strengthen their product portfolios and maintain a competitive position in the thermal analysis market. Among these business strategies, product launches and enhancements and agreements, partnerships, and collaborations were the most widely adopted growth strategies by the players in the thermal analysis market.
Waters (US) held the leading position in the global thermal analysis market in 2016. The company is one of the top players in the thermal analysis market due to its robust product portfolio that includes all major types of analyzers. The company offers thermal analyzers, microcalorimeters, dilatometers, and thermal conductivity & diffusivity meters. It also offers accessories, services, and training courses for its thermal analyzers to enhance the adoption of its products. The company has a strong geographic presence in the US, the UK, Europe, the Middle East, Australia, Africa, China, and Japan. The company mainly focuses on product launches and acquisitions to strengthen its dominant position in the market. For instance, in 2016, Waters (US) acquired Rubotherm (Germany) to enhance its thermogravimetric analyzer product offerings and strengthen its position in the thermal analysis market. The company launched Discovery HP-TGA 750, SDT 650, DIL 820, DIL 830, and ODP 860, & TAM Air Microcalorimeter in 2017 alone.
NETZSCH (Germany) was among the top players in the global thermal analysis market in 2016. The company has a robust product offering which includes instruments used in various thermal analysis techniques, such as differential scanning calorimetry, thermogravimetric analysis, dilatometry, thermomechanical analysis, dynamic mechanical analysis, dielectric analysis, thermal diffusivity, and thermal conductivity. The company focuses on both organic and inorganic growth strategies such as product showcases, launches, partnerships, and acquisitions to maintain its position in the thermal analysis market.
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Geographically, the thermal analysis market is segmented into North America, Europe, Asia Pacific, and the rest of the world. North America is expected to hold the largest share of the market during the forecast period due to factors such as increasing industrial R&D expenditure; the availability of private-public funding for research; and stringent regulatory norms for drug development.
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