LONDON--(BUSINESS WIRE)--The global industrial x-ray film market 2018-2022 is expected to post a CAGR of more than 5% during the forecast period, according to the latest market research report by Technavio. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.
A key factor driving the growth of the market is the low PET film prices. As PET is the major raw material used in the manufacture of X-ray films, its prices have a direct impact on the profitability of industrial X-ray film vendors. At present, the supply is surplus in the global PET market, owing to an increase in the production capacity of manufacturers. This, in turn, resulted in the decline of PET prices.
This market research report on the global industrial x-ray film market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the replacement of manual film processing by automatic film processing as one of the key emerging trends in the global industrial x-ray film market:
Global industrial x-ray film market: Replacement of manual film processing by automatic film processing
Industrial x-ray film development is a complex process, which requires considerable time. In most of the cases, X-ray film development is carried out by manual methods, which is time-consuming. This, in turn, has led to the replacement of manual X-ray film processing by automatic processing. The automatic processors for X-ray film processing are mainly used in applications, wherein large volume of films is required to be developed daily.
“An automatic film processing offers various advantages compared to manual processing. It reduces variation in radiograph quality, takes less space leading to easy installation and helps achieve dry-to-dry processing within 5 minutes. Vendors in the market are offering new features with automatic X-ray film processors which consume less water, low power, are equipped with infrared drying, and have adjustable film receiving trays,” says a senior analyst at Technavio.
Global industrial x-ray film market: Segmentation analysis
This market research report segments the global industrial x-ray film market by end-user (oil and gas, automotive, aerospace and defense, and others) and geographical regions (APAC, EMEA, and the Americas).
The APAC region led the market in 2017 with a market share of more than 65%, followed by the Americas and EMEA respectively. The region is expected to continue to dominate the market during the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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