Thermal Analysis Market Size, Share, Trends, Industry Analysis & Growth 2032

Thermal Analysis Market Insights

According to the report published by Zion Market Research, the global Thermal Analysis Market size was valued at USD 671.9 Million in 2023 and is predicted to reach USD 1011.69 Million by the end of 2032. The market is expected to grow with a CAGR of 4.2% during the forecast period. The report analyzes the global Thermal Analysis Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Thermal Analysis industry.

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Global Thermal Analysis Market: Overview

Thermal analysis is a procedure conducted to analyze and understand the physical and chemical properties of a material with respect to a change in temperature. A thermal analyzer uses a variety of techniques to measure a physical property of a product used for testing in relation to its temperature. This strategy is effective in a variety of industries, including pharmaceuticals, chemicals, and fast-moving consumer goods (FMCG). Thermal analysis can be used to test and eliminate some process variables such as ore & reagent mixes, retention periods, operating temperatures, and some atmospheres. Owing to its benefits, thermal analysis products play an important role in the analysis of various industries such as composites, polymers, foods, petroleum, and organic chemicals.

Global Thermal Analysis Market: Growth Factors

The global thermal analysis market is growing at the fastest rate. Factors that are fueling the growth of the global market include rapidly growing end-user industries such as material, chemical, and polymers along with increasing focus on research & development activities using thermal analyzers. The important key driver that driving the growth of the thermal analysis market is the rising production of crude oil and shell oil in developed countries. Further, stringent government regulations for drug development and the adoption of rigid food product safety regulatory norms propel the thermal analysis market growth. Increasing regulatory compliances in emerging countries such as China, Japan, and India will further boost the demand for the thermal analysis market. Under the compliances, regulations ensure the purity, quality, strength, and identity of the drug products by demanding that proper control manufacturing operations are followed by the manufacturers. These government regulations help to reduce incidences of product recalls, harmful effects of food products and ensuing lawsuits that may arise from defective products.

However, the high cost involved in device and maintenance is expected to hamper the growth of this market to a certain extent during the forecast period. These thermal analyzers offer excellent performance, enhanced accuracy, and quality control that propel their demand from end-users. In addition, accurate measurement of numerous parameters and excellent functionality over an extended temperature range is driving their adoption in R&D activities in different industries. All these factors are spurring the growth of the global thermal analysis market. Furthermore, the patent expiry of various bestseller drugs and biomolecules offers a lucrative opportunity for market growth during the forecast period. In addition, developing R&D and manufacturing infrastructure in the life science industry helps to propel market growth.

During the Covid-19 pandemic, the thermal analysis market has been negatively impacted across the world. Short term impact of COVID-19 includes supply chain disruption, revision of government policies, and sudden reduction in research & development activities. However, the thermal analysis market is majorly affected by the reduced research and development activities from the end-user industries such as food & beverage industry, chemical & material, and petrochemical industry. Further, the factors like delays in drug approvals, industry growth slows down and disturbed supply chain cycle in pharmaceuticals and healthcare industry continues to moderately impact the demand of thermal analysis market.

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Global Thermal Analysis Market: Segmentation

The global thermal analysis market is divided based on product, functionality, end-user, and region.

Based on product, the global thermal analysis market is split into differential scanning calorimetry analyzers, thermogravimetric analyzers, differential thermal analyzers, simultaneous thermal analyzers, thermomechanical analyzers, dynamic mechanical analyzers, and other thermal analyzers.

The functionality segment is bifurcated into single-functionality analyzers and simultaneous-functionality analyzers.

Chemical & material manufacturers, pharmaceutical & biotechnology companies, food & beverage industry, petrochemical industry, research & academia, and other end users are the end-user segments of thermal analysis.

Thermal Analysis Market: Report Scope

Global Thermal Analysis Market: Regional Analysis

North America region is estimated to hold the highest share in the global thermal analysis market during the forecast period. Growing investment in industrial research & development activities and an increase in funding from private & public sectors for effective research will boost the demand for the thermal analysis market in this region. Furthermore, Asia Pacific region is anticipated to grow at a faster rate and is expected to offer lucrative growth opportunities for the market. Some of the other factors that are driving the growth of the market in this region include rapidly growing industries like materials and chemicals in emerging countries like China, Japan, and India.

Global Thermal Analysis Market: Competitive Players

• Instrument Specialists
• Nanjing Dazhan Institute of Electromechanical Technology
• Theta Industries
• Rigaku
• Hitachi High-Technologies
• TA Instruments
• Setaram Instrumentation
• Perkinelmer
• Mettler-TOLEDo
• Linseis
• Netzsch

are some of the leading players that are functioning in the global thermal analysis market. Thermal analysis market players are mainly investing in new product launches and implementing effective strategies to gain a competitive edge in the market.

The Global Thermal Analysis Market is segmented as follows:

By product 

• differential scanning calorimetry analyzers
• thermogravimetric analyzers
• differential thermal analyzers 
• simultaneous thermal analyzers
• thermomechanical analyzers
• dynamic mechanical analyzers
• and other thermal analyzers

By functionality 

• single-functionality analyzers
• simultaneous-functionality analyzers 

By end-user 

• Chemical & material manufacturers
• pharmaceutical & biotechnology companies
• food & beverage industry
• petrochemical industry 
• research & academia 
• and other

Global Thermal Analysis Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.