Calorimeter Market - Forecasts from 2023 to 2028

The global calorimeter market is expected to grow at a CAGR of 11.56% during the forecast period

A calorimeter is a scientific instrument used to measure the heat exchange between a system and its surroundings, typically during a physical or chemical process. The different types of calorimeters include differential scanning calorimeters, adiabatic calorimeters, bomb calorimeters, and constant pressure calorimeters. Calorimeters are essential for measuring heat exchange and thermal properties in various industries, including food & beverage, chemicals, pharmaceuticals, and power & energy. The increasing demand for advanced testing and analysis equipment and the growing research and development activities in various fields drive the need for calorimeters, positively impacting their market growth.

Bolstering growth in the food & beverage sector is augmenting the calorimeter demand. 

The food and beverage industry requires accurate and reliable measurements of the thermal properties of food & beverage products. Calorimeters are used to study the thermal stability of food products and to monitor chemical reactions during processing and storage. This helps food manufacturers to optimize processing conditions, improve product quality, and extend the shelf life of food products. Calorimeters are essential tools for analyzing the energy required to produce, package, store, and transport beverages and also measure the heat of reaction during beverage production, such as during the fermentation process for beer and wine. Growing sales & demand for food & beverage products will boost the overall production, accelerating the demand for calorimeters. According to the International Food and Beverage Alliance (IFBA), global food and beverage sales increased by 3.9% in 2020, reaching approximately $8.2 trillion. In 2021, the United Nations Food and Agriculture Organization (FAO) reported that the demand for food and agricultural products continued to rise in 2020 despite the COVID-19 pandemic. This demonstrates that the calorimeter holds great demand in the future.

The growing pharmaceutical activities are contributing to the calorimeter market growth

Calorimeters are an essential tool for the pharmaceutical industry as they help researchers understand the thermal properties & behavior of drugs. They are used for various applications, including drug discovery, formulation development, and quality control. Calorimeters can be used to determine the heat of the decomposition of drugs, which is important for assessing their safety and stability under different storage and processing conditions. The growing pharmaceutical industry is expected to drive the demand for calorimeters. The International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) reported that the global pharmaceutical market was valued at $1.3 trillion in 2020, representing a growth rate of 6.9% compared to the previous year. According to the Indian Economic Survey 2021, India’s domestic pharmaceutical market stood at US$ 42 billion in 2021 and is likely to reach US$ 65 billion by 2024 and further expand to US$ 120-130 billion by 2030.

The North American region is expected to hold a significant market share throughout the forecast period. 

North America is expected to hold a significant market share due to increasing demand for food analysis and testing in the region, the growing pharmaceutical industry, and the growing government funding for research and development activities. The Food and Agriculture Cyberinformatics and Tools Initiative (FACT) was launched in 2021 to promote the development of new digital tools and technologies that can help improve the safety and security of the US food supply chain. The initiative provides funding for research and development projects, including using advanced analytical tools such as calorimeters. In 2020, the Canadian government announced an investment of CAD 126 million over five years in the National Research Council of Canada's Biomanufacturing and Vaccine Production (BioCanRx) program. The funding was aimed at supporting research and development in the biomanufacturing and vaccine production sectors, which are critical for the pharmaceutical industry. The growth and development of the food & beverage and pharmaceutical industry will boost the demand for calorimeters in North America, propelling regional market growth.

Market Developments:

• December 2022: KULR Technology Group achieved operational readiness for its Fractional Thermal Runaway Calorimeter (FTRC) for battery safety and thermal management solutions after finalizing a commercial licensing agreement with the National Aeronautics and Space Administration (NASA).
• June 2022: H.E.L Group, a global developer and manufacturer of innovative laboratory tools, released an iso-BTC+ calorimeter for isothermal battery performance testing to maximize safe operational limits and establish optimal working parameters of cells.
• March 2020: Waters Corporation introduced the "Discovery X3 Differential Scanning Calorimeter," which allows researchers to compare various formulations or competitive materials side-by-side under the same test conditions. 

Market Segmentation:

By Type

• Differential Scanning Calorimeter
• Adiabatic Calorimeter
• Bomb Calorimeter
• Constant Pressure Calorimeter
• Others

By Material

• Copper
• Aluminium

By End-User

• Food & Beverage
• Chemicals
• Pharmaceuticals
• Power & Energy
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• UK
• Germany
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• China
• Japan
• India
• South Korea
• Others