January 17, 2022 07:09 ET | Source: Vantage Market Research Vantage Market Research
WASHINGTON, Jan. 17, 2022 (GLOBE NEWSWIRE) — Vantage Market Research’s recent analysis of the Global Silica Analyzer Market finds that increasing demand for semiconductors is expediting market growth. Primarily driven by huge demand from APAC for silica analyzers owing to rising need for energy, the total Global Silica Analyzer Market is estimated to reach USD 197.18 Million by 2028, up from USD 130.27 Million in 2021, at a Compound Annual Growth Rate (CAGR) of 6.8%.
Furthermore, the significance of accurate silica measurement in steam/water cycle for optimizing power plant efficiency is also anticipated to augment the growth of the global Silica Analyzer Market, states Vantage Market Research, in a report, titled “Silica Analyzer Market by Type (Consumables, Equipment), by End-User (Power Generation Industry, Semiconductor Industry, Others), by Region (North America, Europe, Asia Pacific, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”.
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List of Prominent Players in the Silica Analyzer Market:
Increasing Demand for Semiconductors to offer Immense Growth Opportunities for Silica Analyzers Market
The increasing demand for semiconductors is anticipated to augment the growth of the Silica Analyzer Market during the forecast period. This is attributable to the increasing utilization of consumer electronics and rising demand for integrated circuits from various economies. Furthermore, the implementation of advanced technologies such as IoT, wireless communication, artificial intelligence has also led to increase in demand for semiconductors. The pure water that is used in the semiconductor production processes is additionally purified by using an ion-exchange resin. To control the ultra-pure water quality, capturing the silica as quickly as possible can be done by dissolving it with ion-exchange resin, which is an important part during the production processes. Silica analyzers can be used to measure even the ultra-low density silica present in this ultra-pure water and it can also improve its usability. Thus, owing to this benefit of silica analyzers in the semiconductor industry it is expected to open new avenues for the Silica Analyzer Market in the years to come.
Significance of Accurate Silica Measurement in Steam/Water Cycle for Optimizing Power Plant Efficiency to Stimulate Market Growth
Silica is considered to play a significant role in process monitoring since it is highly soluble in steam and it is also considered to be the most difficult element to remove from steam/water. It tends to appear in many potential external and internal contaminations. The continuous monitoring and observation of ultra-low levels of silica aids to reduce downtime by avoiding costly plant shutdowns, manage power plant efficiency and repairs in locations throughout the plant. The use of continuous on-line silica analyzers offers steady monitoring and also helps to protect against the entry of unsafe levels of silica into the steam cycle. Implementation of these technologies also offers plants to operate at higher pressure and temperatures that helps further in increasing the energy output and decreasing the amount of fuel needed at the same time. Any negligible deviation of silica concentration can lead to serious consequences with respect to reliability, performance, efficiency, and safety; hence, it is very much necessary to use the silicon analyzers to monitor this parameter thoroughly.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
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The report on Silica Analyzer Market highlights:
Asia Pacific Dominates the Global Silica Analyzer Market
Asia Pacific has dominated the global Silica Analyzer Market in 2021 and is likely to continue the same trend during the forecast period. This is attributable to the increase in demand for electricity in emerging economies like India, and China, in the region. Furthermore, the increasing number of coal-fired power plants along with growing semiconductor sectors is also expected to support the regional growth of the market.
North America is likely to witness substantial growth in the Silica Analyzer Market during the forecast period. This is attributable to the increase in demand from end-use industries like power generation and semiconductor in the region. Additionally, the increasing technological developments in silicon analyzers and presence of key players are also expected to support the growth of the Silica Analyzer Market in near future.
Key questions answered in the report:
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October, 2017: Hach announced the acquisition of AppliTek, a manufacturer of online analyzers and monitoring systems based in Nazareth, Belgium. The acquisition was conducted through Belgium-based affiliate Hach Lange N.V.
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