(IT-NEWSWIRE.COM, October 17, 2020 ) The growth in Gas Chromatography Market is driven by the increasing adoption of GC-MS, rising crude & shale oil production, increasing importance of wastewater treatment, rising food safety concerns, and growing use of chromatography tests in the drug approval process.
However, the high cost of GC equipment, geopolitical issues prevailing in some countries, and shortage of skilled professionals are expected to restrain the growth of this market during the forecast period.
According to the new market research report by MarketsandMarkets, global GC market size is projected to reach USD 3.5 billion by 2025 from USD 2.8 billion in 2020, at a CAGR of 4.1%.
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The systems segment of the GC instruments market is expected to account for the highest growth due to factors such increased capability to analyze complex compounds.
On the basis of accessories and consumables, the GC market is divided into columns, columns accessories, autosampler accessories, flow management accessories, consumables & accessories, fittings & tubing, pressure regulators, gas generators, and other accessories. The columns segment is estimated to account for the largest share in the global gas chromatography market. The large share of this segment can primarily be attributed to factors such as improved gas chromatography columns for the petroleum industry.
The Oil and Gas industry is growing at a CAGR of 4.1% in the end user market of GC. The growth is mainly attributed toincreasing crude & shale oil production and improved gas chromatography columns for the petroleum industry.
The market in North America is projected to witness the highest growth rate during the forecast period (2020–2025)
North America is expected to account for the largest share of the global GC market. Market growth in this region is driven primarily by the increase in R&D funding, cannabis research, market for shale oil and gas, and food and agricultural industry. On the other hand, the Asia Pacific is projected to have the highest growth rate during the forecast period. The high growth rate of the region can be attributed to factors such as extensive sales of generics in Japan and the growth in the pharma and biotech sectors in India and China.
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Key Market Players :
The GC market is well established due to dominance of prominent market players such as Agilent Technologies, Inc. (US), Thermo Fisher Scientific, Inc. (US), Shimadzu Corporation (Japan), PerkinElmer, Inc. (US), Restek Corporation (US), Dani Instruments S.P.A. (Italy), Chromatotec (France), Merck KGAA (Germany), Leco Corporation (US), Scion Instruments (US), Phenomenex (US), GL Sciences(Japan), OI Analytical (US), Valco Company Instruments Inc.(US), Centurion Scientific (India), SRI Instruments (US), Skyray Instruments(US), E ChromTech Co. Ltd. (Taiwan), Trajan Scientific (Australia), and Falcon Analytical (US).
Mr. Aashish Mehra