Global Process Analytical Instrument Market 2017-2021

Overview of the global process analytical instrument market

Market research analysts at Technavio predict that the global process analytical instrument market will grow at a CAGR of around 4% by 2021. This market research analysis identifies the growing chemical industry in APAC as one of the primary growth factors for this market. Process analytical instrumentsare widely used in chemical processes like pumping fluids from high-pressure reactors at high temperatures. Asia is one of the largest specialty chemical market and China's chemical market is among the largest chemical markets in the world and houses several chemical companies. Singapore has several research institutes which encourages companies to set up laboratories to develop innovative solutions on sustainable chemistry.

Numerous oil and gas fields are scattered and present in remote locations and tough conditions. This rises the need for a single command centre for controlling and monitoring information, influencing the growth of smart oil and gas fields that help in the integration and real-time information sharing, monitoring, and control of various oil and gas fields. This increasing number of smart oil and gas fieldswill be a major trend driving the market’s growth since companies use various instruments to analyze the process and monitor the substance content to convert their existing fields to smart fields.

Competitive landscape and key vendors