According to Future Market Insights research, the global Chemical Detector market is set to enjoy a valuation of US$ 2,812 Million in 2022, and further expand at a CAGR of 4.3% during 2022 to 2032. The sales of Chemical Detector in the top 3 countries is projected to hold approximately 28 to 30% of the market by the end of 2022.
| Attributes | Details |
|---|---|
| Market Size (2021) | US$ 2,346 Million |
| Market Size 2022 | US$ 2,812 Million |
| Market Size 2032 | US$ 4,284 Million |
| Value CAGR (2022 to 2032) | 4.3% |
Chemical detector is used to detect hazardous materials, and this has evolved into a critical element for controlling the hazards associated with chemical warfare. The growing demand from chemical industry is expected to drive the global chemical detector market during the forecast period. A new forecast by FMI analysts estimates that chemical detector sales will increase during 2022 to 2032 and is predicted to create a growth opportunity of US$ 1,472 Million.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The analysis of Chemical Detector demand from 2017 to 2021 showed a historical growth rate of around 1.2% CAGR, slowdown in the growth during the historical period is owing to COVID-19 pandemic crisis which has substantially impacted the demand resulting in negative growth of the market in 2020. Recovery from the crisis in 2021 and 2022 has bolstered the growth outlook in the projected period.
In the past, reliable litmus or reaction tests were used to identify chemicals. Although reliable, this type of testing were time-consuming and need a supply of consumable testing equipment, and could only identify a small number of compounds. With the technological developments in Chemical Detector, different types of sensors can be utilized to detect hazardous chemicals at single points, provides stand-off detection or covers large areas.
Handheld scanners that can quickly find a range of substances are now possible, due to advancements in chemical detectors. Modern sensors make use of a variety of methods, including mass spectrometry, ion-mobility spectrometry, and photo ionization.
As a result, FMI’s Chemical Detector demand projection predicts a CAGR of 4.3% by 2032.
The market for Chemical Detector is expanding because of an increase in threats to homeland security and stricter safety standards. Owing to the increasing production of the toxic chemicals for industrial applications, the concerns regarding accidents and misuse has been increasing. The market is anticipated to boost owing to the strict governing laws regarding the purchase and sales of dangerous chemicals, also the market is blooming because of increase in the efforts made by the law enforcement and safety and security administrations regarding chemical misuse. Businesses now need chemical detector on their premises to safeguard the safety of their employees. As a result, Chemical Detector is now in high demand across a wide range of industries.
Principal Consultant
The demand for solutions to halt chemical warfare around the globe has fuelled the demand for chemical detectors. Security threats have increased throughout the years, which is one of the significant trend driving the market growth. This has led to the increase in use of the chemical monitoring systems, in the defence industry. The market for chemical detector is supplemented by government initiatives to take a proactive approach in the monitoring of chemical plants to prevent chemical mishaps.
The demand is also boosted by the increasing necessity for ensuring public safety in critical infrastructure facilities. The usage of chemical detection devices in nuclear power plants and chemical manufacturing facilities has significantly increased in recent years. The usage of this technology is increasing in a number of industries. Governments often update their laws to comply with the most recent safety standards, which is providing great opportunity for the market participants.
Geographically, the market is sub-segmented into six regions, namely North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East and Africa. China and Japan are the largest consumers of Chemical Detector’s in the East Asia region. Among all these countries, China and Japan, collectively accounted for 15 to 20% of the total Chemical Detector market in 2021.
North America is anticipated to dominate the Chemical Detector market owing to the increase in the number of new participants in the region. This is due to growth in the chemical production and consumption in nations.
The North America market is being driven owing to the substantial technological developments in chemical detection technologies in varied geographies. For instance, Increase in public and private capital expenditure in the U.S. for research and development activities aimed at improving detection and monitoring systems. Also, the creation of stringent requirements for public safety in industrial facilities has also opened up new opportunities for several regional market.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Key players operating in the Chemical Detector market include 3M, Agilent Technologies, Inc., Bruker, Argon Electronics, Environics, FLIR Systems, Inc., QIAGEN, Smiths Detection Group Ltd, Remedios Ltd., Thermo Fisher Scientific, Inc, and others
By establishing new manufacturing units in the targeted market, the major players in the worldwide market are concentrating on increasing their capacities and resources to fulfil the rising demand for Chemical Detector. The major players are also implementing joint venture and collaboration strategies to expand their visibility and assets.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.3% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Units and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Product Type, Application, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; Middle East and Africa |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, UK, France, Italy, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, Australia and New Zealand, GCC Countries, South Africa, Northern Africa, Turkey |
| Key Companies Profiled | 3M; Agilent Technologies, Inc.; Bruker; Argon Electronics; Environics; FLIR Systems, Inc.; QIAGEN; Smiths Detection Group Ltd; Remedios Ltd.; Thermo Fisher Scientific; Bioquell Plc; Federal Resources; General Dynamics Corporation; Chemring Group Plc |
| Customization & Pricing | Available upon Request |
In 2021, the value of the Chemical Detector Market reached over US$ 2,346 Mn.
During the forecast period, the Chemical Detector Market is estimated to expand at a CAGR of 4.3% during 2022-2032.
The Chemical Detector Market is projected to reach US$ 4,284 Mn by the end of 2032.
China is projected to lead the East Asia Chemical Detector Market in the forecast period.
The key players operating in the Chemical Detector Market are 3M, Agilent Technologies, Inc., Bruker, Argon Electronics, Environics, and FLIR Systems, Inc.
Chemicals & Materials
February 2022
REP-GB-342
November 2022
248 pages
Explore Chemicals & Materials Insights
View Reports
Chemical Detector Market
