X-ray Photoelectron Spectroscopy Market: Structure and Overview of Key Market Forces Propelling Market

The global X-ray photoelectron spectroscopy market was worth US$ 511 Mn in 2021 and it is expected to increase at a high-value CAGR of 6.4% over the forecast period (2022-2032).

X-ray photoelectron spectroscopy, or XPS, is a technique used for measuring the composition of an element of a material's surface. XPS systems also discover the binding state of the element, which usually examines the surface analysis of chemical synthetic up to 10 nm depth of the element. Due to this property, XPS systems are majorly used in pharmaceutical and biotechnology firms for the research and development of novel drugs.

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The X-ray photoelectron spectroscopy market is driven by the use of XPS systems in commercial product manufacturing. XPS systems are used for the classification of nanoparticles to examine stability, environmental effects, and functional behaviours. The precise and efficient detection of the element, which is done by technologically-advanced XPS systems, will ensure high demand for X-ray photoelectron spectroscopy over the coming years. For example, with the help of advanced XPS devices, it is easy to obtain the graphene layer's surface refinement and electronic properties. The refined quality of graphene nano-particles has applications in the medical sector where they are used to improve cancer treatment. Moreover, suitable government reimbursement policies are propelling the X-ray photoelectron spectroscopy market globally.

An increase in the number of forensic tests is expected to create new opportunities for the XPS market. This XPS technique gives precise details about the chemical makeup of the finger mark as well as its relative position in relation to the hand. Therefore, by simulating evidence from a crime scene, XPS can be used to identify the presence of particles such as illicit drugs. This application of XPS systems is expected to offer lucrative opportunities to manufacturers over the coming years.

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Key Takeaways from Market Study
• By product segment, XPS systems held more than 88% of the global market share in 2021.
• The market share of thin film analysis applications was 39.3% in 2021.
• By end user, polymer and thin film industries accounted for a market share of 27.3% in 2021.
• By region, North America dominates the global X-ray photoelectron spectroscopy market after having accounted for 31.4% market share in 2021.

"Rising demand for XPS systems in pharmaceutical industries for the purpose of R&D and the production of new drugs for various treatments will help the X-ray photoelectron spectroscopy market grow over the coming years," says an analyst of Persistence Market Research.

Market Competition
Major industry players such as Thermo Fisher Scientific have been developing and proposing to launch novel systems to open up new horizons in surface analysis, thus helping expand their market share.
• In May 2021, Thermo Fisher Scientific launched the Nexsa G2 surface analysis system, which is a fully-automated XPS designed to increase the capacity and creativity for educational and industry laboratory use.

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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the X-ray photoelectron spectroscopy market in its latest study, presenting a historical demand assessment of 2012-2021 and projections for 2022-2032.

The research study is based on the product (XPS systems (dual anode (MgKa/AIKa) X-ray source-based systems, monochromated AI Ka X-ray source-based systems) and software), application (thin film analysis, adhesion failure evaluation, chemical state identification, elemental profiling, and residue), and end user (energy sector, medical organizations, educational & research institutions, polymer and thin industries, metallurgical industries, semiconductors & microelectronics, and others), across seven key regions of the world.

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This release was published on openPR.