Elemental Analysis Market Size, Share & Trends Analysis Report By Element, By Technology (Destructive Technologies, Non-destructive Technologies), By End-use, By Region, And Segment Forecasts, 2024 - 2030

Elemental Analysis Market Size & Trends

The global elemental analysis market size was valued at USD 1.77 billion in 2023 and is projected to grow at a CAGR of 6.4% from 2024 to 2030. This growth is attributed to increasing demand across industries such as pharmaceuticals, food & beverages, and environmental testing. In addition, stringent regulatory requirements for quality control and safety further fuel the demand for elemental analysis. Technological advancements, including portable analyzers and improved analytical techniques, enhance efficiency and accuracy in testing. Furthermore, the rising investments in research and development, particularly in life sciences, are expected to boost market expansion,

Funding for clinical research given by the National Institute of Health (NIH) is recorded to be 18.9 billion USD in 2023. These gradual rises in R&D are expected with emerging innovations, and technological advancements in the market. In addition, the growing pharmaceutical and mining industries are also driving the market positively due to the heavy utilization of elemental analyzers. In the pharmaceutical industry, elemental analyzers are used to measure various chemical concentrations in pharmaceutical products, and in the mining industry, the products are used to test the sulfur and carbon content in the fuel to analyze the quality.

Furthermore, the growing investments in agriculture are also a major driving force for the growth of the market. Elemental analyzers play a vital role in the agricultural industry by assisting in ensuring the quality of fertilizers to increase crop production. This growing investment is expected to boost crop production, and with production to ensure the quality of crops, there is an expected surge for the elemental analyzers, which leads to rapid tech innovations and increases competition in the market.

Element Insights

The inorganic element segment dominated the market and accounted for a revenue share of 60.9% in 2023. This growth is attributed to the increasing adoption of pharmaceutical samples to regulate the quality of drug samples. In addition, due to stringent rules and regulations to meet safety standards, elemental analyzers are widely used for checking the presence of elements and contaminants in products. Furthermore, increased production of cosmetics, food products, and adhesives is expected to drive the segment’s growth significantly.

Organic elements are expected to grow at a CAGR of 5.9% over the forecast period owing to technological advancements that have improved the capabilities of the instruments, such as automation, enhanced data, high-resolution, and mass spectrometry. In addition, increasing demand for quality control in food and beverages, stringent environmental regulations, and advancements in analytical technologies. Furthermore, rising investments in research and development across various industries, including pharmaceuticals and petrochemicals, further propel this market segment's expansion.

End-use Insights

Academic research dominated the market and witnessed significant growth in 2023. This growth is driven by factors such as the increasing demand for research and quality control in the mechanical engineering industries to analyze material properties, composition, and performance and growing environmental issues that require regular monitoring and compliance. Furthermore, element analyzers assist by detecting pollution and providing accurate test results, thus growing the market significantly.

The pharma & biotech entities end use segment is anticipated to witness the fastest growth over the forecast years. This growth is attributed to the stringent regulatory compliance in the pharma and biotech industries since COVID-19 has increased the demand for accurate results for product safety, adherence, and efficacy, increasing the demand for enhanced elemental analyzer instruments and growing the market significantly.

Technology Insights

The non-destructive technology segment led the market and accounted for the largest revenue share, at 60.3% in 2023. This growth is attributed to the versatile use of this technology in various industries, such as construction, automotive, electronics, aerospace, and others. Furthermore, features of this technology, such as reduced material waste and cost-effectiveness in long-term use, are enhancing the overall efficiency of the industries, which leads to increasing demand for the product and significantly growing the market.

The destructive technologies segment is expected to grow significantly at a CAGR of 5.9% over the forecast years owing to the rising food safety concerns, which require accurate elemental analysis. This leads to increasing investments in R&D to enhance the technology and give accurate results. Furthermore, the increasing usage of X-ray fluorescence (XRF) in medical research is also playing a major role in the significant growth of the segment.

Regional Insights

North America elemental analysis market dominated the global market and accounted for the largest revenue share of 41.5% in 2023. The growth is driven by technological advancements in the region and the rise of the healthcare & pharmaceutical industries where the elemental analyzer instruments play a huge role, such as assistance in drug development, ensuring patient safety, and other roles. In addition, increasing investments in research infrastructure are also growing the demand for enhanced elemental analyzing technologies.

U.S. Elemental Analysis Market Trends

The elemental analysis market in the U.S. led the North American market with the largest revenue share of 87.3% in 2023 owing to the rise of new international GDP and GMP certifications, which have increased the safety standard for food production and demand for high-quality pharmaceutical drugs to increase medicine production. These factors lead to growing R&D spending and technological advancement and innovation, thus growing the country's market.

The Canada elemental analysis market is expected to grow at a CAGR of 6.8% over the forecast years. This growth is attributed to the new global comparative assessment of excipient performance (EXCiPACT), increasing concerns about food safety, increasing life science research expenditure, XRF applications in the medical field, and the increasing utilization of atomic absorption spectroscopy in drug safety procedures.

Europe Elemental Analysis Market Trends

The elemental analysis market in Europe is expected to grow substantially over the forecast years owing to the increased life science R&D spending, expanding use of X-ray fluorescence in medical research, and growing use of atomic absorption spectroscopy (AAS) to support the drug safety process. This has increased the demand for the product and grown the market significantly.

The UK elemental analysis market is expected to witness rapid growth over the forecast period owing to regulations in sectors such as pharmaceutical and food, growing life science R&D spending, environmental problems that require accurate pollutant analysis, and quality control in manufacturing sectors. All these drivers are creating the demand for elemental analyzer technologies, thus growing the market.

Asia Pacific Elemental Analysis Market Trends

The elemental analysis market in the Asia Pacificis expected to growat a CAGR of 7.5% over the forecast years 2024 to 2030. This growth is attributed to the increasing environmental standards and emerging industrialization in the region and the increasing importance of food quality and safety. Furthermore, the proposal of new high-tech materials in the market and the increasing utilization of elemental analyzer technologies in pharmaceuticals, petrochemicals, and environmental control are also boosting the market.

China elemental analysis market held a substantial market share in 2023 owing to environmental policies, the industrialization of China, and a focus on the security of food safety and quality. Additionally, elevated need for improved materials in electronics and renewable energy industries. Also, the enhancing pharmaceutical sector of this country needs elemental analysis for the production of drugs and checking the quality of final products, which in turn is fueling the growth of the market.

Key Elemental Analysis Company Insights

Some of the key companies in the Elemental Analysis Market include ELEMENTAR, Shimadzu Corporation, Thermo Fisher Scientific Inc., Danaher Corporation, and others. Organizations are focusing on increasing their customer base to gain a competitive edge in the industry. Therefore, key players are taking several strategic initiatives, such as mergers and acquisitions and partnerships with other major companies. 

• Thermo Fisher Scientific Inc. is a major player in the industry, providing research laboratories and analytical solutions for applied sciences. They offer AAS, ICP-MS, ICP-OES, and other sensitive instruments to perform elemental analysis. Moreover, they also provide centered software to the industry to generate and analyze high levels of data.

• AMETEK.Inc. is one of the leading suppliers of analytical instruments with products such as mobile Arc/Spark OES, X-ray fluorescence spectrometry (XRF), and many other products with its subsidiary name known as Spectro.

Recent Developments

• In April 2024, Spectro, which is part of AMETEK.Inc. introduced SPECTRO xSORT-handled ED-XRF spectrometers, which enhance features such as ease of usage, convenience, maximized speed, and advanced performance. These spectrometers will be reliable for elemental testing and can be utilized in the chemical analysis of 16 metal matrices, including 46 elements.

• In November 2023, Thermofischer launched a new Thermo Scientific ARL iSpark, a next-generation Optical Emission spectrometer that can be used for various purposes in industries such as production, recycling, processing, and R&D labs.

Elemental Analysis Market Report Scope

Global Elemental Analysis Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and analyzes the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global elemental analysis market report based on element, technology, end-use, and region.

• Element Outlook (Revenue, USD Million, 2018 - 2030)

  • Organic

  • Inorganic

• Technology Outlook (Revenue, USD Million, 2018 - 2030)

  • Destructive Technologies

    • ICP-MS

    • ICP-OES

    • Combustion Analysis

    • Other Destructive Technologies

  • Non-Destructive Technologies

    • XRF

    • FTIR

    • Other Nondestructive Technologies

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Academic Research

  • Pharma & Biotech Entities

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

    • Thailand

  • Latin America

    • Brazil

    • Argentina

  • Middle East and Africa (MEA)

    • Saudi Arabia

    • UAE

    • South Africa

    • Kuwait