The need for nuclear power is growing significantly over the years. Inorganic scintillators are widely used in these nuclear power plants and other areas. The global market is categorized into three broad segments, namely, type, applications, and geography. The global market, by type, comprises of CsI, NaI, GoS and others. The NaI scintillators market accounted for the largest share of the global market in 2013 and is also slated to grow at the highest CAGR from 2013 to 2018. The global Inorganic Scintillators market was valued at $230 million in 2013 and is expected to grow at a CAGR of 5.4% from 2013 to 2018, to reach $299.2 million by 2018.
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Technological advancements in inorganic scintillators rise in security threats to drive the radiation detection market for homeland security, increase in PET/CT scans, increasing incidence of cancer, paramount concern for safety in the wake of Fukushima disaster are the key factors that are expected to drive the growth of this market. The primary factors that are restraining the growth of this market include shortage in nuclear power and radiation workforce, decline of number of power plants and shortage of Helium-3.
North America accounted for the largest share of the global market, followed by Europe and Asia. However, Asia is slated to grow at a fastest CAGR from 2013 to 2018. The growth in the Asian market is likely to be focused on countries such as China, India, due to the increase in the number of nuclear power plants. In addition, increased safety measures in China are set to aid market growth.
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The global inorganic scintillators market witnesses high competitive intensity as there are many big and small firms with similar product offerings. These companies adopt various strategies (innovations, acquisitions, and geographic expansions, among others) to increase their market shares and to establish a strong foothold in the global market.
The major players in the global inorganic scintillators market include, Hamamatsu Photonics K.K. (Japan), Radiation Monitoring Devices, Inc. (U.S.), Argus Imaging B.V. (Netherlands), Toshiba Corporation (Japan), Mirion Technologies, Inc. (U.S.), Saint-Gobain SA (France), Hitachi Metals America Ltd. (U.S.), Canberra Industries, Inc. (U.S.) and Ludlum Measurements, Inc. (U.S.), among others.
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