02-Mar-2021 | Zion Market Research
As per the analysts at Zion Market Research, the valuation of the global inorganic scintillators market in 2018 was about USD 292.11 million and is projected to expand at around 5.21% CAGR during the forecast period to reach about USD 352.77 million by 2025. Few of the prominent players active in the global inorganic scintillators market include Hamamatsu Photonics K.K., Dynasil Corporation of America, Detec, Hitachi Metals Group, Nihon Kessho Kogaku Co., Ltd, Saint-Gobain S.A., Rexon Components, Inc., Toshiba Materials Co., Ltd., Scintacor, Amcrys, EPIC Crystal Co., Ltd., Alpha Spectra, Inc, and Shanghai Siccas High Technology Corporation, among others.
High Efficiency Along With Other Features Expected To Surge Demand For Inorganic Scintillators
Inorganic scintillators assist in the recognition of even a small radiation amount and assure high steadiness when exposed to elevated radiations. Also, it is achievable to modify inorganic scintillators and manage their manufacture. These features, together with elevated efficiency they offer, are the major factors driving the expansion of the global inorganic scintillators market. Furthermore, the wide range of applications of inorganic scintillators is also anticipated to drive increased expenditure in R&D activities. In addition, the rising budget allotment in homeland security and defense across key nations is expected to generate lucrative avenues for the global inorganic scintillators market. Conversely, the rising requirement for energy obtained from renewable resources such as solar, geothermal, and wind resources, which are well-accepted alternatives of nuclear energy, is projected to hamper the market growth.
By Scintillation Material, Sodium Iodide (NaI) Segment, Expected To Capture A Considerable Market Share
Based on scintillation material, the sodium iodide (NaI) segment is projected to register the biggest share within the global inorganic scintillators market. The segmental expansion can be credited to the increasing application extent of sodium iodide, escalating spending in homeland security to fight terrorism globally, and the rising number of nuclear power plants. Furthermore, during the forecast period, substantial growth is also expected for the lutetium oxyorthosilicate (LSO) & lutetium-yttrium oxyorthosilicate (LYSO) segment owing to its advantages compared to other scintillators, rising research in the nuclear physics & high-energy fields, and the increasing PET scanner demand.
Asia Pacific Expected To Witness A Considerable Growth During The Forecast Period
Regionally, the global inorganic scintillators market is ruled by North America at present and is projected to stay dominant throughout the forecast period. North America is followed by Europe and collectively is at the forefront of driving the need for renewable energy obtained from resources like solar. Nevertheless, the expansion observed in these regions is lagging caused by the rising prevalence of cancer among the staff members of the nucleic plants. In the meantime, the escalating requirement from budding nations like China and India is driving the growth of Asia Pacific market. This region is anticipated to surface as a lucrative market and thereby, gather elevated revenue for the global inorganic scintillators market.
Browse the full “Inorganic Scintillators Market - By Type (Rare Earth Metals, Alkali Halides, And Oxide Compounds), By Scintillation Material (CsI, NaI, And LSO & LYSO), By Application (Homeland Security & Defense, Healthcare, And Nuclear Power Plants), And By Region - Global Industry Perspective, Comprehensive Analysis, And Forecast, 2019 – 2025.” Report at https://www.zionmarketresearch.com/report/inorganic-scintillators-market
The global inorganic scintillators market is segmented as follows:
By Scintillation Material
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