The global colorimeter market is estimated to be valued at ~US$ 797.3 Mn in 2022, and expand at a CAGR of 8.1% during the forecast period of 2022-2029. Gains remain primarily fuelled by the increasing usage of colorimeters in rapidly expanding end-use sectors such as food & beverages, pharmaceuticals, paints & textiles, chemical, and water utilities.
Colorimeters are devices that measure colour and the concentration of solutions. Water utilities and the food and beverage sectors are growing, and this is driving up demand for colorimeters, two important factors in the market’s expansion.
Colorimeters are needed for the analysis of materials, such as plastics, consumer electronics, cars, and food products, where one of the most important factors is colour. Additionally, as issues like global warming and pollution are reducing the quality of natural resources, there is an increased need for undertaking ongoing environmental analyses, which includes examining the quality of the water and the components of the soil. In order to analyse environmental conditions, colorimeters are becoming increasingly popular among researchers, scientists, and laboratory professionals.
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Lucrative Growth Opportunities in North America & East Asia
In terms of value, regions like North America and East Asia are predicted to hold considerable market share for colorimeters. In East Asia, China will continue to present more chances for colorimeter market players due to the country’s quickly rising food and beverage and water utility sectors, which will help to meet the demands of the region’s expanding population.
The market for colorimeters is also being shaped by macroeconomic factors such the growing contribution of water utilities to GDP growth, major investments in R&D, rapid expansion of end-use businesses, and a concentration of manufacturers in the area. Hence, East Asia’s manufacturing sector for analytical testing instruments is expected to increase significantly and favourably, which will fuel the region’s colorimeter market.
In North American nations, particularly in the US, water utilities are subject to stronger laws for environmental monitoring. Thus, it is anticipated that throughout the projection period, the demand for colorimeters would grow significantly at a substantial CAGR.
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Portable Colorimeters to Witness High Demand
In the FMI’s study, the colorimeter market has been analysed across various regions such as North America, Latin America, Europe, Middle East & Africa, East Asia, South Asia, and Oceania, in terms of product, portability, and end use.
In recent years, portable colorimeters are gaining higher traction over their stationary counterparts, though the latter continues to account for greater share in the global market. FMI’s study finds that the sales of color densitometers will remain higher than that of color photometers, due to their increasing usage in the manufacturing of food & beverage and water utility industry.
While increasing application of colorimeters in oil & gas industry continues to influence the growth strategies, manufacturers are tapping into newer opportunities in automotive, pharmaceuticals, food & beverages, paints & textiles, chemical, research & educational institutes, agriculture, water utilities, healthcare, automotive & transportation, and electronics.
Colorimeter Market: Vendor Insights
The report highlights some of the prominent market players that are holding significant shares of the colorimeter market. Some of the prominent players in the global colorimeter market are Thermo Fisher Scientific, Inc., Danaher, Konica Minolta Sensing Americas, Inc., Xylem Inc., Hanna Instruments, and PCE Instruments.
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Global Colorimeter Market by Category
By Product :
- Color Densitometers
- Color Photometers
By Portability :
- Portable
- Stationary
By End User :
- Pharmaceutical
- Food & Beverage
- Paints & Textile
- Chemical
- Research & Educational Institutes
- Agriculture
- Water Utilities
- Healthcare
- Automotive & Transportation
- Electronics
By Region :
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA).
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