The Scintillator Market is expected to grow at a CAGR of 5.62% from 2014 to 2020, and reach $479.16 Million in 2020.
The elements behind the rapid upsurge in the
scintillator market are the innovative and advanced technologies, government
funding for increased R&D, wide need of radiation detection instruments
across application markets, and development of high performance products at a
low cost. In addition, depletion of Helium-3 for neutron detection in security
operations, advancements in medical imaging and nuclear medicine, and
increasing number of nuclear power plants is also believed to provide a further
impetus to the growth of the scintillator market.
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Till 2013, the ‘Americas’ held the largest revenue
share followed by Europe— in scintillator materials, and related solutions.
However, the APAC, with a CAGR of 9.56%, will be close to Europe in terms of
the scintillator market revenue by 2020. The foremost factors accountable for
the expansion of the scintillator market include improved resolution and
performance requirement while optimizing the cost, increasing awareness for
radiation safety measures, and demand for radiation safety devices. APAC
is the fastest growing and most promising market for scintillators due to the
increasing number of upcoming nuclear reactors, high industrial growth,
supportive government policies, and financial investment by the governments in
R&D. The major companies operating in this market are Saint Gobain
(France), Ludlum Measurements (U.S.), Zecotek Photonics Inc. (Canada), and
Mirion Technologies (U.S.), among others.
The scintillator market is broadly categorized into:
- composition of material, applications, end products, and geography. All the
major segments are further segmented into sub segments. All the segments and
sub segments are separately described in the report.
The market is expected to reach $479.16 Million by
2020, at an estimated CAGR of 5.62% from 2014 to 2020. The major driving
factors for the scintillator market are:-demand for low cost and high
performance scintillators, concern for safety in wake of the Fukushima
disaster, growing demand for existing and new radiological medical
applications, and investments in radiation monitoring equipment with respect to
homeland security. The materials market includes the ‘Inorganic’ and ‘Organic’
scintillators. The scintillator market finds its application in the healthcare,
homeland security, industrial applications, nuclear power industry, and
scientific research sectors. The geography market is categorized into Americas,
Europe, APAC, and ROW.
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Some of the major players in scintillator market
include: Canberra Industries Inc. (U.S.), Hamamatsu Photonics K.K. (Japan),
Hitachi Metals Ltd. (Japan), Ludlum Measurements Inc. (U.S.), Mirion
Technologies Inc. (U.S.), Radiation Monitoring Devices (U.S.), Saint Gobain
(France), and Zecotek Photonics (Canada), among others.
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