The global sphere spectrophotometers market size was USD 1.78 billion in 2017. Increasing research & development in the pharmaceutical sector is expected to be one of the key driving factors for the market growth. Surging requirements for drug discovery & development and bimolecular analysis from the life science industry is the key factor behind the growth of the global sphere spectrophotometer market.

                                        Global Sphere Spectrometer Market Size, 2015-2025 (USD Billion)

Stringent manufacturing norms to maintain consistency in the production of similar batches of textiles is expected to augment the demand for instruments that can give a reading very close to that of the original batch manufactured. This factor is expected to provide an impetus to the demand for colorimeters. In addition, the need for higher accuracy is expected to augment the demand for spectrophotometers which in turn are attached to various systems and software to automate the reproduction.
Bench-top instruments have provision for the measurement of transmitted light as well as reflectance. Proper sampling procedures, experimental design as well as lab practices are all critically important in obtaining reliable laboratory data. Adoption of bench-top instruments for data collection is expected to enhance the global sphere spectrophotometer market size over the forecast period. However, the emerging trend of miniaturization has led to the development of portable devices. Portable sphere spectrophotometers market is expected to show the fastest growth, at a CAGR of 24.4% from 2018 to 2025 on account of its ability to test colors at the clients’ site and obtain results almost instantly.
                                  Global Sphere Spectrophotometer Market Share, by Type, 2017 (%)

In 2017, printing & packing was the largest application segment accounting for 43.8% of the market share and is expected to be the fastest growing segment on account of high standards of uniformity in terms of color compliance. Consumer perception of associating colors to brands has resulted in making spectrophotometers an integral part of operations of printing & packing manufacturers. The growth of these end-use industries is expected to further augment the development of this industry. Innovation in terms of software, connectivity over the internet, and portability are some of the features expected to boost the sphere spectrophotometers market over the next few years.

By geography, North America posed lucrative opportunities for the global sphere spectrophotometers market valued over USD 350 million in 2017. The presence of a large manufacturing sector in the region coupled with a high adoption rate of the latest technology by manufacturers has resulted in the growth of the spectrophotometers market over the last few years. The expansion of paint & coatings sector as well increase in penetration of biopolymers in day-to-day products is expected to provide surge the sphere spectrophotometer market growth.

Stringent compliances to maintain uniformity in products, particularly manufactured in bulk, such as automotive coatings, liquid detergents, packaging, cosmetics, and food among others is likely to result in the further development of the market over the next few years. The U.S. textile industry is one of the leaders in the manufacturing sector. The country, also, is one of the leading manufacturers of textiles, yarns, fabrics, apparel and home furnishings, along with other textile finished types. Furthermore, U.S. ranks, third in global export value after China and India.

The market is characterized by a limited number of players including X-rite, Konica Minolta, Shimadzu, BYK Gardner, and Hitachi High Technologies. The market is also dominated by the direct supply of sphere spectrophotometers. The sphere spectrophotometers market has been characterized by direct supply of equipment and related accessories by manufacturers. Several factors including the requirement of an expert sales point of contact, in-depth knowledge of appropriate logistics for storage and transportation, installation, and post-operation services has resulted in the establishment of a direct supply channel. The absence of an indirect marketing channel has resulted in the negligible presence of any distributors, traders, and dealers.

Key segments of the global sphere spectrophotometer market

Type Overview, 2015-2025 (USD Million)

• Portable
• Bench-top

Application Overview, 2015-2025 (USD Million)

• Paint & Coating
• Textile & Apparel
• Plastic
• Printing & Packing
• Others

Regional Overview, 2015-2025 (USD Million)

• North America
  • U.S.
  • Canada
• Europe
  • France
  • UK
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • India
  • Japan
  • China
  • Rest of APAC
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East & Africa

Reasons for the study

• The purpose of the study is to give an exhaustive outlook of the global sphere spectrophotometer market
• While studying the market, we observed that printing and packaging market is gaining immense traction across different regions
• Asia Pacific is projected to be the fastest growing region owing to large manufacturing base in this region
• The global portable sphere spectrophotometers market is projected to witness lucrative opportunity in developing regions of Latin America and Middle East & Africa due to accelerating demand for coatings in these regions

What does the report include?

• The study on the global sphere spectrophotometer market includes qualitative factors such as drivers, trends, and opportunities
• Additionally, the market has been evaluated using the Value Chain, Porter’s Five Forces’ analysis and PESTEL analysis
• The study covers qualitative and quantitative analysis of the market segmented on the basis of type, application and region. Moreover, the study provides similar information for the key geographies.
• Actual market sizes and forecasts have been provided for all the above-mentioned segments
• The study includes the profiles of key players in the market with a significant global and/or regional presence

Who should buy this report?

This study is suitable for industry participants and stakeholders in the sphere spectrophotometer Market, who want an in-depth insight into the movement of the architectural coatings market. The report will benefit:

• Executives of paints and coating companies that are engaged in the sphere spectrophotometer Types
• Managers within financial institutions looking to publish recent and forecasted statistics pertaining to sphere spectrophotometer market
• Venture capitalists and investors looking for more information on the future outlook of the global sphere spectrophotometer Market
• Government organizations, regulatory authorities, policymakers and financial organizations looking for innovations in coating technologies
• Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies