Future Market Insights (FMI) has estimated the global colorimeter market is likely to expand with a year-on-year growth of 8.1% in 2023 reaching a value of about USD 799.2 million by 2023 end.
Colorimeters are used to detect color and calculate solution concentration. Colorimeter demand is rising because of expanding water utilities and food & beverage industries which are mainly contributing to the market growth. There are a few factors anticipated to drive the global colorimeter market, which includes:
The global business is anticipated to witness a considerable CAGR of 8% during the period between 2023 and 2033. Further, the rise of the economies in many regions is mostly fueled by industrialization and urbanization, which is increasing demand for colorimeters in consumer electronics, textiles, and automotive parts, among other things.
FMI has identified North America to remain a key market for colorimeters over the forecast period owing to increasing demand from end-use applications. Also, the region is estimated to witness a value CAGR of 7.8% in the industry of colorimeter.
| Attributes | Details |
|---|---|
| Global Colorimeter Market Analysis (2022A) | USD 740 million |
| Global Colorimeter Market Analysis Estimated Year Value (2023E) | USD 799.2 million |
| Global Colorimeter Market Analysis Projected Year Value (2033F) | USD 1725.4 million |
| Value CAGR (2023 to 2033) | 8% |
| Collective Value Share: Top 3 Countries (2023E) | 34% |
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Colorimeter demand is rising because of the significant growth of the pharmaceutical, water utility, and food and beverage industries in various developing economies throughout the world. One of the primary factors likely to fuel the market's expansion over the forecast period is the region's increasing industrialization.
Governments in various countries are progressively adopting programs to improve the quality of variables such as water, food and beverage, and other factors, increasing in demand for colorimeters.
The demand outlook for colorimeters between 2018 and 2022 expanded by 7% as the pandemic crisis has impacted the market. Further, the usage of colorimeters is likely to expand at a growth rate of 6.8% by volume over the assessment period from 2023 to 2033.
Increasing investments in research & development by key manufacturers of colorimeters are significantly contributing to the growth of the market. Further, the increasing need for the colorimeter in various applications across various industries is ultimately pushing manufacturers to provide technologically advanced colorimeters.
These factors are influencing the manufacturers to increase their spending on research & development. Industries such as food and beverage, have created high demand for colorimeters.
The need to control water quality is increasing by leaps and bounds as pollution levels rise. Calorimeters are used to determine the chemical composition and characteristics of water components. Also, colorimetric techniques measure compounds, including chlorine, fluoride, cyanide, dissolved oxygen, iron, molybdenum, zinc, and hydrazine, in water.
Colorimeter manufacturers are continually focused on colorimeter innovations to improve their operational capabilities. Further, the availability of portable colorimeters with sophisticated features is driving up demand in the colorimeter industry. The need for portable colorimeters is increasing due to changing industry requirements and increased manufacturing operations.
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Colorimeters are used to calibrate electronic equipment such as computer monitors, smartphones, LEDs, LCDs, and other similar devices. The calibration procedure is used to ensure that the colors displayed on screens are accurate and that they are observable by human eyes.
Utilization of colorimeters for various applications such as textile, paint, automotive, and electronics, accelerating the colorimeter market's growth further.
In 2023, the United States global colorimeter market is expected to register 8.5% year-on-year growth by volume. During the forecast period, the North America region is expected to hold a significant value share in the worldwide colorimeter market.
The United States's highly developed electronic infrastructure is one of the primary factors driving the region's quick expansion of the colorimeter industry.
Germany is a key contributor to Europe’s global colorimeter market expansion. Due to the growing adoption of technologically advanced products in the region, it is likely to be one of the important markets for long-term value generation for the colorimeter market.
Colorimeters are in high demand because of the high adoption rate in various developing economies throughout the world. Further, the market in Germany is estimated to dominate Europe’s global colorimeter market throughout the forecast period (2033) with an 8.1% CAGR.
India’s market is estimated to thrive at a CAGR of 8.6% percent between 2023 and 2033. Colorimeter adoption is being boosted by the presence of significantly growing economies like India.
The rise of the economies in this region is mostly fueled by India's modernization and urbanization, which has increased demand for consumer electronics, textiles, automobile parts, and other goods. Also, the use of colorimeters to check the color qualities of these items is predicted to grow dramatically in this region. As disposable income rises in this region, customer expectations in terms of food quality are shifting in industries like food and drinks.
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The portable segment is projected to create an absolute dollar opportunity of more than USD 450 million from 2023 to 2033. Because of the growing demand for portable colorimeters with improved capabilities, the colorimeter industry is experiencing increased demand.
The market is being driven by the growing popularity of portable colorimeters and the growing need for portable colorimeters for on-field testing due to requirements such as waterproofing and compact sizes. Some of the market's leading companies are concentrating on expanding their product portfolios to stay competitive.
The water utility segment is projected to create an absolute dollar opportunity of more than USD 100 million from 2023 to 2033. One of the primary reasons driving the growth of the colorimeter market is the growing demand for technologically sophisticated colorimeters for the water utility industry.
The need to manage the quality of drinking water and farming lands is one of the key factors to amplify the market demand for colorimeters.
There has been an increase in the number of acquisitions and expansion efforts to strengthen colorimeter supplies over the last few years. Several leading businesses are also working to improve the efficiency of colorimeters for diverse applications.
In the worldwide market, numerous manufacturers have emerged, particularly in the United States, China, and Germany.
For Instance:
| Attributes | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value and Units for Volume |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia & Pacific; East Asia; The Middle East & Africa (MEA) |
| Key Countries Covered | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
| Key Segments Covered | By Country, By Portability Type, By Product Type, By End Use |
| Key Companies Profiled | Thermo Fisher Scientific, Inc.; Danaher; Konica Minolta Sensing Americas, Inc.; Xylem Inc.; The Biochrom subsidiary of Harvard Bioscience; Hanna Instruments; PCE Instruments; Admesy; Taylor Technologies; Metrohm AG |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
PCE Instruments and Admesy are the key players in the global market.
The water utility is capturing high revenue in the global market.
The market is projected to secure a valuation of USD 799.2 million in 2023.
The market is estimated to reach USD 1,725.4 million by 2033.
The portable segment holds high revenue potential.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Color Densitometers 5.2. Color Photometers 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Portability 6.1. Portable 6.2. Stationary 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 7.1. Pharmaceutical 7.2. Food & Beverage 7.3. Paints & Textile 7.4. Chemical 7.5. Research & Educational Institutes 7.6. Agriculture 7.7. Water Utilities 7.8. Healthcare 7.9. Automotive & Transportation 7.10. Electronics 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Thermo Fisher Scientific, Inc. 18.2. Danaher 18.3. Konica Minolta Sensing Americas, Inc. 18.4. Xylem Inc. 18.5. The Biochrom subsidiary of Harvard Bioscience 18.6. Hanna Instruments 18.7. PCE Instruments 18.8. Admesy 18.9. Taylor Technologies 18.10. Metrohm AG 19. Assumptions & Acronyms Used 20. Research Methodology
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