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Asian Region to Offer Significant Growth Opportunities for the Inorganic Scintillators Market in the Coming Years
The global inorganic scintillators market is witnessing a significant growth and will continue to do so in the next five years. The factors contributing to this growth are the increasing use of nuclear power and in turn the development of new nuclear power plants globally, technological advancements in inorganic scintillators, rise in security threats resulting in a growing radiation detection market, and the rising incidence of cancer. In the forecast period, the Asian region is projected to grow at the highest CAGR, with the growth in this region centered at China, and India.
In the Asian region, China is considered as a favorable region by key players in the inorganic scintillators market. Growing demand for clean energy has lead to an increase in the number of nuclear power plants in China and around 28 new nuclear power reactors are under construction. This along with the government’s plan to improve the safety standards for all the existing and under-construction nuclear power plants in China due to concerns following the 2011 Fukushima Daiichi nuclear accident in Japan bodes well for the growth of the inorganic scintillators market in China. Apart from China, there is also an increase in the number of nuclear power plants in India and Southeast Asia which will propel the inorganic scintillators market in Asia.
North America is another lucrative market for players in the inorganic scintillators market. An increasing number of nuclear reactors in U.S. and Canada is likely to boost the inorganic scintillators market in North America. In the healthcare sector, the use of radiation therapy to cure cancer is increasing, thereby propelling the inorganic scintillators markets. An increasing use of CT scanners in the U.S. for paleontological research is also likely to boost the inorganic scintillators market.
Inorganic Scintillators Market by Type (Sodium Iodide/Cesium Iodide/Gadolinium Oxysulfide/Others) & by Application (Nuclear Power Plant/Healthcare/Homeland Security & Defense/Industrial) - Competitive Landscape, Global Forecasts & Trends to 2018
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