PUNE, India, June 15, 2018 /PRNewswire/ --
According to the latest market research report "Silica Analyzer Market by Type (Equipment and Consumables), Industry (Power Generation (Utility, Captive/IPP), Semiconductor), and Region (North America, Europe, Asia Pacific, and Rest of the World) - Global Forecast to 2023", published by MarketsandMarkets, the market is estimated to grow from USD 106.1 million in 2018 to USD 139.6 million by 2023, at a CAGR of 5.66% between 2018 and 2023.
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The key driving factor for the growth of the silica analyzer market is the significance of accurate silica measurement in steam/water cycle for optimizing power plant efficiency. Among many potential impurities in the steam cycle, silica plays a vital role because the solubility of silica in steam directly depends on the density and temperature of the steam. Any minor deviation of silica concentration on a power plant can have serious and expensive consequences in relation to performance, reliability, efficiency, and safety; hence, it is very much necessary to monitor this parameter closely.
Consumables are expected to hold larger market share during 2018-2023
Consumables are the reagents used in the analysis of silica. A 2-liter bottle of reagents can last for 45 to 60 days, depending on the frequency of the usage. Consumables need to be replaced and/or refilled frequently. The cost of consumables can exceed USD 2,500 per silica analyzer per year. Hence, this segment is expected to hold the larger market share during 2018-2023.
Power generation industry is expected to grow at highest CAGR owing to extensive use in silica analysis of water in boiler in steam generation
Silica analyzers are commonly used to monitor the silica content in the water that is used in the boiler for steam generation in power plants. Monitoring silica in water helps in avoiding the scaling on turbines, thereby increasing the thermal efficiency of power plants.
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APAC is expected to hold largest market size, in terms of value, owing to increasing industrialization and energy demand and easy availability of the coal making it preferred fuel for electricity generation
Coal is readily available in countries such as China and India where the energy demand is ever-increasing. Coal is the preferred source of electricity generation in thermal power plants. China and India are the major countries in APAC that have significant coal-fired power plants. This drives the market for silica analyzers in APAC.
Hach (US), ABB (Switzerland), Thermo Fisher Scientific (US), Mettler Toledo (Switzerland), HORIBA (Japan), NIKKISO (Japan), Swan Analytical Instruments (Switzerland), SPX Flow (US), DKK TOA (Japan), Waltron Group (US), Dr.Thiedig(Germany), Electro-Chemical Devices (US), Shanghai Boqu Instrument (China), KNTEC (South Korea), HKY Technology (China), and Omicron Sensing (US) are a few major companies in this market.
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