The chemical sensors market is estimated to grow at a CAGR of 9.8 % from 2022 to 2032.
“Chemical sensors are in high demand due to the rising number of pollutants discharged into the atmosphere and the advantages of sensors in analysing the chemical composition of various samples and act as a chemical detector are influencing the use of chemical sensors.”
Chemical sensors have grown in importance as a critical industrial component as environmental dangers have increased and are being adopted because of their usefulness in analysing the chemical composition of various materials thereby act as a chemical detection sensor.
The market is being shaped by significant developments such as higher order orthogonal sensors and chemical sensing arrays. Low chemical sensor price and portability are also predicted to contribute to the market's growth throughout the forecast period.
Chemical sensors are widely being used to quantify analytes in chemical industrial processes, in addition to the environmental benefits and are being used as advanced instruments in research labs, industrial processes and healthcare operations, which is boosting demand in the chemical sensors market.
| Attributes | Details |
|---|---|
| Chemical Sensors Market Size in 2020 | US$ 21.39 Billion |
| Chemical Sensors Market CAGR during 2022 to 2032 | 9.8% |
“Chemical sensors will be in high demand in North America, owing to increase in vehicle production, increased research and development efforts, and the push to reduce pollution levels in the near future.”
North America and Europe are the leading regions in terms of overall demand for chemical sensors. Adoption of chemical sensors is expected to grow rapidly in APAC over the forecast period.
The APAC chemical sensors market is likely to emerge as the fastest growing market with a double-digit CAGR over the forecast period 2015-2025.
The concerning pollution levels in China, India and other APAC countries is also driving the demand for chemical sensors.
Low chemical sensors price, flexible applications and speedy technological implementations are fuelling the demand for chemical sensors in the APAC market.
The APAC chemical sensors market forecast seems promising, owing to the rising usage of chemical sensors in industrial safety operations and environmental monitoring programs.
“The chemical sensors market is expected to grow, due to rising demand for chemical sensors from the oil and gas and automotive industries.”
In APAC, chemical sensors can be termed as ideal components, having analytical functions, which can help prevent the unwanted output of several processes and monitor the health of the atmosphere.
The factors impelling the onward growth of APAC market for chemical sensors include,
The manifestation of advanced chemicals sensor technology for the production of cost-effective, miniaturised and lightweight chemical detector, capable of continuous and static measurements in the remote environment, is a latent growth factor in the APAC chemical sensors market.
On the other hand, the growth of chemical sensors market in APAC region is facing challenges that are derived from the resulting output of the use of chemical sensors. The three most crucial restraints of chemical sensors market include,
Chemical sensors are selective in nature. For example, biochemical sensors can be applied only in biochemical process, and their use in other processes can deliver inefficient output.
Upon continuous exposure to haphazard materials and chemicals, the sensitivity of the sensors will degrade. This will result in the persisting replacement of chemical sensors, and create a despise environment for the end-users.
The design of any chemical sensor makes it unidirectional. However, the reversible chemical reactions occurring in an industrial process may alter the monitoring function and thereby, regard the chemical sensors as useless.
The key companies shaping up the competitive landscape of chemical sensors market, including APAC region, are Abbot Laboratories, Nova Biochemical Corp., Denso Corp., Hoffmann-La Roche, NGK Spark Plug Company, Emerson Process Management, among others.
In 2015, the leading multinational sensor and semiconductor manufacturer, Austria Mikro System (commonly known as ams AG) acquired the CMOS sensors from NXP Semiconductors as a strategic measure to expand their existing environmental sensor technologies. Mergers as such illustrate the expansion of the chemical sensors market size.
| Attributes | Details |
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| Forecast Period | 2022 to 2032 |
| Historical Data Available For | 2015 to 2020 |
| Market Analysis | US$ Billion for Value |
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The chemical sensors market is projected to reach a CAGR of 9.8% during 2022-2032.
The chemical sensors market registered a valuation of US$ 21.39 Bn in 2020.
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Chemical Sensors Market
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