San Antonio, TX - July 27, 2022 -- A new analysis by Verify Markets shows the United States PFAS (per-and polyfluoroalkyl substances) Analytical Instrumentation Market was valued at over $75.0 million USD in 2021 and expected to grow at a compound annual growth rate (CAGR) of over 20.0 percent from 2021 to 2028, reaching revenues over $350.0 million USD by 2028. Currently, the market is dominated by a few companies that hold a significant market share. Key competitors have an advantage with brand recognition. However, it is unlikely for a dominant player to emerge by capturing the majority of market share in the future as new players are likely to flood the market with intensifying competition.
Main drivers for PFAS analytical instrumentation demand is increased awareness about the widespread prevalence of PFAS contamination, approval of PFAS Action Act of 2021 by the U.S. House of Representatives and the $10.0 billion funding allotted to address PFAS contamination through President Biden’s Bipartisan Infrastructure Law. The PFAS Action act is likely to significantly fast-track the process for categorizing certain PFAS compounds as unsafe and allow the EPA significant discretion over future PFAS regulation.
“States are increasingly taking action and developing limits. Once PFAS is discovered and determined to be in concentrations that can likely be harmful to human health, each individual state will likely implement more stringent limits. This will have a larger economic effect and higher market revenue,” notes Shilpa Tiku, Chief Research Officer at Verify Markets. “With increasing awareness and public outrage regarding PFAS, PFAS manufacturers will likely continue to be sued. In addition to utilities, there are several manufacturers and companies that are responsible for contamination that are worried about being fined from a litigation perspective.”
The initial market growth spike is likely to be driven by commercial testing laboratories, utilities, and regulatory bodies. In 2021, commercial testing laboratories have emerged as the largest end user segment of PFAS analytical instruments, followed by wastewater treatment utilities. There has been a growing concern among companies that manufacture products that utilize PFAS in some aspect of the manufacturing process, or end product, about being subjected to PFAS product liability lawsuits. An increased understanding of the potential health impact of unknown PFAS compounds is likely to put pressure on more industries to start testing and limiting PFAS in their products in the future. The long-term market growth is likely to be sustained by industries, academia, and regulatory bodies.
The key factors influencing sales of PFAS analytical instruments are ease of use, data reproducibility and reliability, low cost of ownership, and prompt after sales customer service. Companies are increasingly integrating service offerings and consumables to help customers improve productivity and operational efficiency.
The demand for LC-MS/MS instruments from manufacturers of products containing PFAS is likely to increase in future. The manufacturers need to understand PFAS contributing products and detectable contamination guidelines. Companies must have an opportunity to assess and correct the situation before facing significant fines and litigation. Most of the PFAS regulation in the United States, is likely to be focused on limiting total PFAS where measurement of overall PFAS through a combustion IC (ion chromatography), or CIC, technique will be useful in understanding what level of treatment is needed based on the level of contamination.
The complexity of the instrumentation and shortage of experienced professionals for PFAS analysis are likely to be the barriers in widespread adoption of PFAS analytical instrumentation. There is limited or no toxicity data available for most of PFAS currently being used in commerce, and it is challenging for the EPA to research and understand the risks these substances may pose to human health and the environment in the short-term.
The United States PFAS Analytical Instrumentation Market report has been segmented by technology, end-user, and distribution channel. Some of the key companies covered in the report include Thermo Fisher Scientific Inc., Shimadzu Corporation, Agilent Technologies, Inc., Perkin Elmer and Metrohm AG. The report captures various market dynamics such as growth drivers, restraints, market revenues and forecast, market trends, and the competitive landscape.
A copy of the United States PFAS Analytical Instrumentation Market report can be purchased at www.verifymarkets.com. Follow us for more updates on Twitter @verify_markets. This report is part of Verify Markets’ Water and Wastewater Treatment Subscription market research and consulting practice.
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