Global Thermal Analysis Market to Reach $695.4 Million by 2026

Thermal analyzers are designed for analyzing changes in specific characteristics of materials in line with variations in temperature. Thermal analysis encompasses various methods intended for continuous monitoring of physical and chemical properties of products or electronic systems as a function of time and temperature. Growth in the market is driven by rising demand for thermal analyzers across primary end-use industry verticals. Increasing output of shale and crude oil, stringent guidelines related to food safety, and patent expiry of various biomolecules and blockbuster drugs are the primary factors boosting growth. The market growth is also bolstered by increasing investment in R&D projects across leading end-use industries. The ability of these analyzers to offer excellent performance, enhanced accuracy and quality control, measurement of numerous parameters and functionality over an extended temperature range is driving their adoption in R&D activities in different industries. These tools are witnessing growing acceptance across the food, medical, electrical and mechanical industries.

Amid the COVID-19 crisis, the global market for Thermal Analysis estimated at US$535.8 Million in the year 2020, is projected to reach a revised size of US$695.4 Million by 2026, growing at a CAGR of 4.5% over the analysis period. Single-Functionality Analyzers, one of the segments analyzed in the report, is projected to grow at a 4.3% CAGR to reach US$451.3 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Simultaneous-Functionality Analyzers segment is readjusted to a revised 5% CAGR for the next 7-year period. This segment currently accounts for a 37.1% share of the global Thermal Analysis market.

The U.S. Market is Estimated at $253.5 Million in 2021, While China is Forecast to Reach $66.6 Million by 2026

The Thermal Analysis market in the U.S. is estimated at US$253.5 Million in the year 2021. The country currently accounts for a 45.74% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$66.6 Million in the year 2026 trailing a CAGR of 6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 3.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR while Rest of European market (as defined in the study) will reach US$71 Million by the end of the analysis period.