Global Trace Metal Analysis Market – Industry Trends and Forecast to 2029

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Trace Metal Analysis Market Analysis and Size

Regulatory and safety guidelines for trace metal analytical procedures is creating lucrative opportunities in the long run. For instance, China, the world's second-largest economy, is forecast to reach a projected market size of US$1.9 Billion by the year 2027, trailing a CAGR of 13.4% over the analysis period 2020 to 2027. Moreover, the rising applications and launches from the leading market players, such as Agilent Technologies and Perkin Elmer, have also boosted the market's growth.

The global trace metal analysis market was valued at USD 4.59 billion in 2021 and is expected to reach USD 9.35 billion by 2029, registering a CAGR of 9.30% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Trace Metal Analysis Market Scope and Segmentation

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Market Definition

The trace metal analysis helps identify and detect low levels of metal in the sample, which is important in the product development process and regulatory compliance and quality control. The detection at the trace level of metals in the small can be differentiated contaminants and give information about the development and procedure improvement capabilities.

Global Trace Metal Analysis Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Rising demands across food industries

The rising usage of trace metal analysis across the food and beverages industries is expected to drive the market's growth over the forecasted period. For instance, the trace metal analysis market in the U.S. was estimated to grow at US$1.3 billion and at a certain pace. Heavy metals like arsenic, cadmium, mercury, and lead can enter our food through water, air, and soil. These heavy metals are already present at trace levels. Still, the toxicity of heavy metals, even at low levels, requires very sensitive analysis of metals in food to ensure safe levels that meet regulatory requirements.

• Rising awareness and safety regulations

Rising awareness and safety regulations regarding the safe levels of heavy metals present in the feed and other applications such as medical devices and clinical diagnosis are the factors that are driving the growth of the market over the forecasted period. Organisations such as United States Food and Drug Administration (USFDA), European commission (EC-EFSA) and Food Safety and Standards Authority of India (FSSAI) regulate the heavy metals in consumer feed and products. These organizations and regulatory bodies have set certain parameters to attain certain levels of the consumption of heavy metals and ensure less toxic behavior of the metals to the consumers.

Opportunities

• Adoption of various advanced technologies

The increased adoption and the rising applications of trace metal analysis across various end users are further estimated to generate lucrative opportunities for the market, which will further expand the growth rate in the future. The rising applications of trace metal analysis, such as the allowance of the detection and identification of low levels of metals in a sample, contaminants, regulatory compliance, and others, play a vital role in the market's growth. The wide range of products, such as chemicals, cosmetics, medical devices, and consumer products, requires an analytical procedure to generate non-toxic and enhanced outcomes using highly selective technology and reliable methods. These critical and beneficiary methods are creating significant growth opportunities for the market over the forecasted period.

Restraints/Challenges

• High implementation costs

The technology implementation demands a significant financial investment. These technologies can be quite expensive to build an infrastructure. Therefore, the high costs and the investments required for the analytical testing facilities are further expected to obstruct the trace metal analysis market's growth over the forecast period.

This trace metal analysis market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the trace metal analysis market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Trace Metal Analysis Market

The trace metal analysis market was immensely impacted by the outbreak of covid-19 as the governments and local authorities have enacted strict lockdowns, movement restrictions, and the closure of neighborhood brick-and-mortar stores. The lockout impacted the financial flow for the businesses, which impacted investments in the businesses and organizations related to the analytical procedures. Also, the shortage of workers has impacted the ability of the government and other stakeholders to fulfill the requirements of planning and initiatives. However, several organizations indulged in the food and beverages sector were in high demand due to the rise in the demand for food products across the globe. The analysis of the food products thus became an important factor during the pandemic and during the post-pandemic era. The market will expand, owing to the testing parameters of the food products and other applications such as clinical diagnostics and medical devices.

Recent Developments

• In 2019, Thermo Fischer scientific Inc. announced the inauguration of advanced, complex food safety solution center in Ghaziabad India. This organization was successfully operated in conjunction with the food safety and standards authority of India (FSSAI). Various services such as liquid gas chromatography, mass spectroscopy and others are available are center.

Global Trace Metal Analysis Market Scope

The trace metal analysis market is segmented on the basis of instrument technology, type and applications. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Instrument Technology

• Atomic Absorption Spectroscopy (A.A.S.)
• Flame Atomic Absorption Spectroscopy (FAAS)
• Graphite Furnace Atomic Absorption Spectroscopy (GFAAS)
• Optical Emission Spectroscopy (O.E.S.)
• Inductively Coupled Plasma-Optical Emission Spectroscopy
• Arc/Spark Optical Emission Spectroscopy 
• Fourier Transform Infrared Spectroscopy (FTIS)
• Inductively Coupled Plasma Mass Spectroscopy (ICPMS)
• X-Ray Florescence Spectroscopy (X.F.R.)
• Others
• Microwave Induced Plasma-Optical Emission Spectroscopy
• Laser Induced Breakdown Spectroscopy

Type

• Portable
• Benchtop

Application

• Environmental Testing
• Food and Beverage Testing
• Pharmaceutical and Biotechnology Product Testing
• Oil and Gas Testing
• Medical Device Testing
• Semiconductor Testing
• Clinical Diagnostics
• Others
• Mining
• Cosmetics
• Chemicals
• Research

Trace Metal Analysis Market Regional Analysis/Insights

The trace metal analysis market is analyzed and market size insights and trends are provided by instrument technology, type and applications as referenced above.

The countries covered in the trace metal analysis market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the trace metal analysis market because of the growing use of trace metal analysis in food industries along with the prevalence strategic administration and market players within the region.

North America is expected to witness significant growth during the forecast period of 2022 to 2029 due to the emerging biotech industries, rising demands of the analytical processes, and rising awareness regarding the safety and other parameters within the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Trace Metal Analysis Market Share Analysis

The trace metal analysis market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to trace metal analysis market.

Some of the major players operating in the trace metal analysis market are

• Agilent Technologies, Inc. (U.S.)
• Thermo Fisher Scientific (U.S.)
• PerkinElmer Inc. (U.S.)
• Analytik Jena GmbH (Germany)
• Bruker (U.S.)
• Hitachi High-Tech Corporation. (Japan)
• Rigaku Corporation and its Global Subsidiaries. (Japan)
• Shimadzu Corporation. (Japan)
• Eurofins Scientific (Luxembourg)
• Intertek Group plc (U.K.)
• SGS Société Générale de Surveillance SA (Switzerland)
• Bureau Veritas (France)
• TÜV SÜD (Germany)
• L.G.C. Limited (U.K.)

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