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Element Detection segment is expected to drive the growth of the global X-Ray Photoelectron Spectroscopy Market by Usage
According to a new market research study of ‘X-Ray Photoelectron Spectroscopy to 2027 – Global Analysis and Forecasts by Product Type, Usage, and Application.’ The global x-ray photoelectron spectroscopy market is anticipated to reach US$ 896.90 Mn in 2027 from US$ 554.07 Mn in 2019. The market is anticipated to grow with a CAGR of 6.2% from 2020-2027. The report provides trends prevailing in the global x-ray photoelectron spectroscopy market and the factors driving the market along with those that act as hindrances.
In order to increase research and development activities, various public and private agencies or organizations are providing funds to the researchers to meet the increasing demand for technical innovation in several countries across the world. Several research activities are carried out by the biopharmaceutical companies and pharmaceutical companies to intensify the preference for technologically advanced XPS devices to boost the market growth in the upcoming years.
For instance, in August 2019, Binghamton University, State University of New York, acquired a new X-ray tool named Hard X-ray Photoelectron Spectroscopy system (or HAXPES), useful in materials research and R&D for electronics. The instrument, HAXPES, enables researchers to get detailed information about a material or device without taking it apart. The cost of the system is $1.75 million, which is the third of its type in the world and the very first type outside Europe. The system was funded by $1.23 million from the National Science Foundation's Major Research Instrumentation program and additional money funded by the campus.
Thus, the increasing initiatives and funds incurred by private or public organizations are expected to drive the sales of X-ray photoelectron spectroscopy, thereby propelling the growth of the market over the forecast years.
The global X-Ray Photoelectron Spectroscopy market, based on usage, was segmented as element detection, contamination detection, density estimation, empirical formula determination, and others. element detection led the X-Ray Photoelectron Spectroscopy market in 2019, contributing a 28.35% share to the total market; it is expected to retain its dominance during the forecast period to account for a share of 29.56% of the overall market by 2027.
Leading companies operating in the x-ray photoelectron spectroscopy market are Shimadzu Corporation, Physical Electronics Inc, Thermo Fisher Scientific Inc, Japan Electrons Optic Laboratory Company Limited, Revera Incorporated, SPECS GmBH, Prevac, Scienta Omicron, Staib Instruments, OCI Vacuum Microengineering Inc. among others.
The report segments Global X-ray Photoelectron Spectroscopy Market as follows:
Global X-ray photoelectron spectroscopy Market - By Product Type
Global X-ray photoelectron spectroscopy Market - By Usage
Global X-ray photoelectron spectroscopy Market - By Application
Global X-Ray Photoelectron Spectroscopy Market - By Geography
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