The global mercury analyzers market is estimated exceed US$ 450 Mn by 2032. The sales of mercury analyzers are expected to reach US$ 280 Mn by 2022, rising at a healthy CAGR of around 6% to 7% during the forecast period 2022-2032. The growth in the market is largely driven by the rising concerns pertaining to environmental sustainability and surging demand for environmental pollution monitoring equipments across the globe.
| Report Attribute | Details |
| Mercury Analyzers Market Base Year Value (2021) | US$ 275 Million |
| Mercury Analyzers Market Expected Value (2022) | US$ 280 Million |
| Mercury Analyzers Market Anticipated Value (2032) | US$ 450 Million |
| Mercury Analyzers Market Projected Growth Rate (2022-2032) | 6% to 7% CAGR |
Mercury is a toxic material that is poisonous and harmful for human beings as well as for the environment. Even a minimal inhalation or consumption of mercury or mercury vapors can affect the immune, digestive, and nervous systems and hamper the functioning of organs such as the kidney and lungs. Being bioaccumulative, toxic, and persistent pollutant, when released into the environment, mercury accumulates in water laid sediment and transforms into methylmercury from where it enters the food chain.
Mercury analyzers are equipments that are commonly used to detect mercury levels in products in solid, liquid, and gas forms for human and environmental safety. They comprise of vital test processes that require specific standards. These equipments aid in detection of mercury across various industries such as oil & gas, food & beverage, petrochemical, and others. Thus, consistent expansion of aforementioned sectors is estimated to bolster the demand for mercury analyzers in the global market.
In addition to this, numerous players in the market are emphasizing on launching novel products with increased accuracy and high mercury detection precision to cater to the growing demand. This is further projected to bolster the sales in the global mercury analyzer market.
Mercury analyzing is emerging as an extremely proficient method to constantly measure the consistency of mercury in dynamic systems such as industrial plants and the environment. Monitoring the mercury level is one of the prominent parameters required for a wide range of sectors such as mining, food & beverage, and biological industries among others.
Thus, growing awareness regarding the ill effects of mercury amongst the world population and increasing adoption of contamination monitoring devices are estimated to bolster the demand for mercury analyzers in the global market.
Also, with growing prevalence of mercury poisoning and rising concerns regarding environmental sustainability, governments in numerous countries are emphasizing on undertaking number of initiatives and implementing several regulations, fueling the demand for such equipments.
For instance, the Minamata Convention on Mercury, a multilateral environmental agreement addressing human activities contributing to the spread of mercury pollution, announced launching a novel Chemicals and Waste Management Program to decline mercury contamination. Such initiatives are estimated to augment the adoption of monitoring devices such as mercury analyzers, thereby, bolstering the demand in the market.
Despite numerous advantages of the use of mercury analyzers, extravagant costs associated with the mass spectroscopy mercury analyzing systems and need for professionals to operate and assess the ratings are factors hindering the sales in the global market.
Also, stringent regulatory standards for the certification and approval of these equipments and high export barriers related to the trade of environmental technologies across emerging economies are estimated to restrain the growth of the mercury analyzer market.
As per Future Market Insights, North America is projected to exhibit the fastest growth in the global mercury analyzer market over the forecast period 2022-2032.
In recent times, governments worldwide are becoming more conscious about food and environmental safety. Also, implementation of new regulations concerning the investigation of food contamination, hazardous waste inspection, mercury survey, and environmental monitoring is augmenting the demand for material monitoring and detection equipments.
Hence, leading players in the market are emphasizing on introducing novel products to cater to this rise in demand and capitalize on the existing opportunity. For instance, in March 2020, Lumex Instruments, a Canadian manufacturer of laboratory analytical and science equipments announced unveiling its new fully automated laboratory mercury analyzer, RA-915 Lab for analysis of food products, fuels, cosmetics products, and environmental samples from soil, river, and industrial water. A multiplicity of such new product launches are estimated to drive the sales of mercury analyzers in the North America market.
FMI states that Asia Pacific excluding Japan is expected to account for a significant share in the global mercury analyzer market between 2022 and 2032.
With growing trend of industrialization and increasing sales of automotive vehicles across the Asia Pacific, governments across the countries in the region are increasing aiming at expanding their production capacity of crude oil and natural gas.
For instance, as per the India Brand Equity Foundation, the Indian Government announced investing around US$ 2.86 billion in the upstream oil & gas sector to double the production of natural gas to 60 bcm and drill more than 120 exploration wells by the end of 2022. As mercury analyzers are extensively used across production plants and refineries to trace the mercury presence in crude oil & natural gas, such initiatives are anticipated to accelerate the sales in the Asia Pacific excluding Japan market.
Some of the leading players in the mercury analyzers market are Thermo Fisher Inc., Mercury Instruments, Teledyne Leeman Labs, Lumex Instruments, Hitachi High-Technologies, Analytik Jena, Nippon Instruments, PerkinElmer, Milestone, Tekran, and others.
Attributed to large number of participants and increasing adoption product launch strategies, the market for mercury analyzers is highly competitive.
| Report Attribute | Details |
| Growth Rate | CAGR of 6% to 7% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Million, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Customization | Available Upon Request |
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FMI projects the demand for mercury analyzers market to expand at around 6% to 7% value CAGR over the forecast period 2022-2032
The market for mercury analyzers is dominated by North America, and this trend is projected to continue in the foreseeable future.
Thermo Fisher Inc., Mercury Instruments, Teledyne Leeman Labs, Lumex Instruments, Hitachi High-Technologies, Analytik Jena, Nippon Instruments, PerkinElmer, Milestone, Tekran, and others are some prominent mercury analyzers manufacturer.
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