Inorganic Scintillators Market Expected to Witness a Sustainable Growth by 2025
Global Inorganic Scintillators Market: Overview
Inorganic scintillators are crystals exhibiting luminescence when exposed to higher level of radiation. They are manufactured using oxides and alkali halides at high temperatures. Inorganic scintillators are primarily employed for the detection since they are highly stable in the presence of intense ionizing radiations. Based on end use, the global inorganic scintillators market can be segmented into defense, homeland security, nuclear power plants, and other segments of high energy physics applications.
The report provides a comprehensive overview of the market covering the factors supporting and limiting its growth. It includes exhaustive information obtained from trusted industrial sources through primary and secondary research. Compiled with the intent of providing readers an executive-level blueprint of the global inorganic scintillators market, the report delves into presenting a detailed assessment of its vendor landscape. Using Porter’s five forces, the report also gauges the bargaining power of buyers and suppliers, threat from new entrants and close substitutes, and the degree of competition prevailing in the market.
Global Inorganic Scintillators Market: Trends and Opportunities
The global inorganic scintillators market can be segmented into sodium iodine, cesium iodine, gadolinium oxysulfide, and other niche categories. The increasing number of high energy physics applications is encouraging research and development activities in the market. This surge in R&D activities has resulted in a rise in the number of product segments in the global inorganic scintillators market. For instance, lead tungstate and bismuth germinate are among a few niche product segments.
Inorganic scintillators help in detection of even a small amount of radiation and ensures high stability when exposed to high radiations. It is also possible to customize inorganic scintillators and control their production. These features, coupled with high efficiency they provide, are the key factors supporting the growth of the global inorganic scintillators market. In addition, the application scope for inorganic scintillators is projected to increase in response to the high investment in research and development activities.
Furthermore, the increasing budget allocation in defense and homeland security across major countries will create lucrative opportunities for the global inorganic scintillators market. On the downside, the increasing demand for energy derived from renewable sources such as wind, solar, and geothermal sources, which are popular substitutes of nuclear energy will pose threat to the market.
Global Inorganic Scintillators Market: Regional Outlook
Regionally, North America, Asia Pacific, Europe, and Rest of the World comprise the key regional segments in the global inorganic scintillators market. Among these regions, North America currently holds dominance and is expected remain at the leading position through the forecast period. Europe has emerged as second-largest market and together with North America is at the fore of driving the demand for renewable energy derived from sources such as solar. However, the growth witnessed in these regions is slowing due down due to the increasing incidence of cancer among workers in nucleic plants.
Meanwhile, the high demand from emerging economies such as India and China is propelling the market’s growth in Asia Pacific. Over the course of the forecast period, the region is expected to emerge as a lucrative market and thus rake high revenue for the overall inorganic scintillators market.
Global Inorganic Scintillators Market: Vendor Landscape
Some of the most prominent companies operating in the global inorganic scintillators market are Saint-Gobain SA, Toshiba Corporation, Hitachi Metals America Ltd., and Mirion Technologies, Inc. Overall, the market is facing intense competitive rivalry among key players. In order to emerge dominant, majority of the market participants have taken interest in innovation and raw material procurement.
An in-depth review of the prevailing competition and vendor landscape in the global inorganic scintillators market is provided in the report. It uses industry-leading analytical tool such as SWOT analysis to identify the strengths and weaknesses of the companies profiled. The analysis also helps the report provide insights into the opportunities and threats that these companies are slated to face over the course of the forecast period.