The current emphasis on providing products and materials with fewer environmental effects will have a direct impact on the chemical industry and chemical sensors. Obviously, this starts with, but is certainly not restricted to, reduced CO2 emissions. Chemical sensors have a wide range of applications, including healthcare, industrial, biotechnology, and household sensing requirements such as temperature sensing and carbon monoxide detectors.
One market research firm says the Chemical Sensors Market size was valued at USD 19.6 Billion in 2021 and projects it to reach USD 32.6 Billion by 2030, growing at a compound annual growth rate (CAGR) of 6.80% from 2022 to 2030.
Another market research firm identifies the Chemical Sensors Market size at US$ 22.97 billion in 2021 and projects the total Chemical Sensors revenue to grow at 7.4% from 2022 to 2027, reaching nearly US$ 35.25 billion.
A chemical sensor detects and measures properties in an analyte (a substance of interest) and converts the chemical data into electronic data. The receptor is the part of the chemical sensor that physically contacts the analyte and its interaction varies depending on the sensor. Photochemical and photometric are two main detection techniques in chemical sensors. They are used to accurately determine the concentration or variations in chemical processes.
Chemical sensing will play a critical role in reducing emissions as sectors migrate away from coal and toward renewable energy sources.
Business greenhouse gases (GHGs) were first categorized as scope 1 emissions, scope 2 emissions, and scope 3 emissions in the 2001 GHG Protocol’s guidelines. Scope 1 emissions are direct GHG emissions that occur from sources that are controlled or owned by an organization such as emissions associated with fuel combustion in boilers, furnaces and vehicles. Scope 2 emissions are indirect GHG emissions resulting from the purchase of electricity, steam, heat, or cooling. Today, the chemicals sector is a major source of Scopes 1 and 2 emissions and is key to the issue of plastic pollution. To make chemical products, the sector utilizes a large amount of fossil fuels including natural gas, petroleum products and even coal. To improve the public’s perception of chemical businesses, many pharmaceutical companies have established sustainability goals for their portfolios. All these factors are anticipated to create demand for the chemical sensors in the forecast period.
Chemical sensors are used to detect extremely minute concentrations of chemical vapors which allows them to quickly identify hazardous trends. The sensors can be made from a variety of sensing elements, such as carbon nanotubes, zinc oxide nanowires or palladium nanoparticles. When molecules in the surrounding environment bind to the sensing element, its conducting qualities change.
In the medical area, fertility therapies, portable glucose monitors, cancer detection, renal failure diagnosis, alcohol, and drug misuse diagnostics, and blood sugar testing strips all use chemical sensors. Increasing the speed and accuracy of detection procedures used in medical sensors is predicted to promote diagnostic applications, which will boost the chemical sensor market.
In addition to being built of durable materials and highly responsive, all-optical sensors do not transmit electric signals, are not vulnerable to nor create external interference. As a result, they are suitable for chemical sensing in hazardous, flammable, and explosive industrial conditions.
Chemical Sensors Market 2022 – Segment Overview, Scope, Advance Technology, Top Players Data by Forecast to 2028 – MarketWatch
Chemical Sensors Market Size, Share, Trends, Opportunities & Forecast (verifiedmarketresearch.com)GHG Protocol: Scope 1 Emissions Explained – Green Business Bureau
Scope 1 and Scope 2 Inventory Guidance | US EPA
Chemical Sensors Market: Global Overview and Forecast (2022-2027) (maximizemarketresearch.com)