Market for Analytical Instruments in the Chemical and Petrochemical Industries, Forecast to 2026

Shutdown of Refineries and the Abandonment of New Projects due to the COVID-19 Pandemic has Resulted in a Sharp Decline in Market Revenue

The analytical instrumentation for the chemicals and petrochemicals market includes companies that use analyzers and other tools for:

• Producing and processing of base chemicals, intermediate chemicals, and fine chemicals;
• Refining and producing petroleum-based chemical products (such as petroleum jelly, motor oil, diesel, lubricants, and kerosene) and consumer products as well as specialty end products.

The scope of the study also includes fuel and plastic fabrication industries.

Some primary applications in this market include (and are not limited to) polymer recycling, analysis of trace elements in fertilizers, characterization of perfume fragrances, analysis of common preservatives in cosmetic products, and corrosion mitigation of plant to prevent downtime.

Below are some of the findings which were made about the market during the study:

• The production of shale gas has positively impacted the production of petrochemicals, as it relies on affordable fuel, such as shale gas, rather than other limited fuels.
• North America will experience stable growth in both the chemical and petrochemical industries in the coming years.
• While the Middle East and China are expected to flourish in the chemical segment, developing regions such as Brazil and South Africa will witness a setback in the chemical segment.
• China’s chemical market has been contributing to half of the growth of the global chemicals market since the 2000s. The increase in economic turbulence can be related to both China’s economic slowdown and the impact of the trade relations between the United States and China.
• Both aliphatic and aromatic hydrocarbons, which are significant types of hydrocarbons, are expected to grow in demand, as they can be found in everyday products.
• The shift in demand from laboratory to process industry will be favorable to the chemical and petrochemical industries.
• Safety and emission monitoring analyzers will witness strong demand in the coming years.

Key Issues Addressed

• Is the market growing? How long will it continue to grow, and at what rate?
• When will the global economy recover after COVID-19? Which sectors will be impacted the most?
• What kind of analytical instrumentation will be in high demand?
• What are the key customer requirements being addressed?
• What are the different scenarios that the market might face after the impact of COVID-19?
• Are the vendors in the space ready to go it alone, or do they need partnerships to take their businesses to the next level?