Neutron Detectors Market To Surpass US$ 3.8 Billion By 2033 As Demand For Potential Alternatives For Fossil Fuels Expand

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Japan's leading nuclear medicine relies on neutron detectors for cutting-edge diagnostics and therapies like neutron capture & activation.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, September 27, 2023 /EINPresswire/ -- The neutron detectors market is expected to reach a value of more than US$ 1.2 billion in 2023. It is projected to surpass a value of US$ 3.8 billion by the end of 2033. From 2023 to 2033, the market is anticipated to surge at a CAGR of 11.9%.

Worldwide demand for neutron detectors is rising quickly due to a diverse range of factors, including nuclear technology breakthroughs and rising nuclear safety concerns. Demand is also anticipated to rise as a result of expanding applications in scientific research and growing significance of nuclear non-proliferation efforts.

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Neutron detector demand is expected to rise with nuclear tech advancements, crucial for overseeing and regulating reactions in power plants and research reactors.

They assist in ensuring the efficient and safe operation of these facilities. As nations work to invest in nuclear energy as a potential alternative for fossil fuels, there is an increasing demand for dependable neutron detectors.

They play a key role in ensuring safe and efficient facility operation. With nations exploring nuclear energy as a fossil fuel alternative, the need for reliable neutron detectors is growing.

They're used in detecting conventional arms and tracking illicit nuclear material trafficking. Key sites like harbors and entry points rely on them. Increased demand could result from better nuclear security and halting illicit radioactive material trade.

In scientific research and experimentation, use of neutron detectors has become crucial. In the review period, it is anticipated that these will be used in areas such as materials science, nuclear physics, astronomy, and medical research.

It is planned to use neutron scattering methods to look at the atomic structure and characteristics of materials. This is expected to lead to enlightening discoveries and technological advancements.

Demand for neutron detectors has also increased due to industrial uses. These detectors are used in several industrial activities, including the search for oil.

They help analyze subsurface structures by detecting neutrons released in geological interactions. Neutron detectors will be used in aerospace to test materials for aircraft and spacecraft construction.

Key Takeaways from Neutron Detectors Market Study:

The global neutron detectors industry exhibited steady growth at a CAGR of 12.8% in the historical period between 2018 and 2022.

The United States neutron detectors industry is anticipated to escalate at a CAGR of 11.8% from 2023 to 2033.

Japan neutron detectors industry is expected to create an absolute dollar opportunity of US$ 465.1 million in the assessment period.

Based on type, the lithium large-area neutron detector segment is anticipated to expand at a CAGR of 11.8% in the assessment period.

In terms of application, the nuclear power segment is anticipated to witness a CAGR of 11.7% in the estimated time frame.

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Competitive Landscape:

Neutron detector manufacturers are adapting strategies to maintain competitiveness and meet evolving sector demands while addressing new challenges. They're enhancing sensitivity, efficiency, and reliability through increased research and development investments. Researchers are also exploring new materials, designs, and signal processing techniques to boost detector performance.

There's a growing need for compact, portable neutron detectors in field measurements, security checkpoints, and handheld devices. Manufacturers are prioritizing smaller, lighter detectors that are expected to match or exceed the performance of larger, conventional ones.

Some manufacturers are broadening their range of modular, configurable neutron detectors, allowing for tailored performance and cost-effectiveness based on specific applications and needs.

For instance,

Inrad Optics introduced a new range of Scintinel stilbene detectors in April 2020 with immediate availability that are perfect for quick neutron detection. Key advantages are high neutron sensitivity and robust neutron & gamma-ray radiation discrimination. Stilbene is a completely solid-state, safe chemical.

Key Companies Profiled:

Arktis Radiation Detectors Ltd
Kromek Group Plc.
Mirion Technologies
Photonis
S.L.U.
Proportional Technologies, Inc.

Neutron Detectors Market Outlook by Category:

By Type:

Lithium Large-area
Fast
Scintillation
Semiconductor

By Application:

Nuclear Power
Aerospace & Defense
Urban Detection Networks
Others

By Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia and Pacific
East Asia
Middle East and Africa

Author By:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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