NanoMarkets Report Projects Worldwide Radiation Detection Material Markets to Surpass $2.6 billion in 2020

GLEN ALLEN, Va., March 2, 2015 /PRNewswire/ -- Industry analyst firm NanoMarkets today announced the release of a new report titled, "Radiation Detection Materials Markets: 2015-2022" that states that the market for radiation detection materials (Scintillator crystals, thin film scintillators, semiconductors and neutron detection materials) will grow from $1.8 billion (USD) to over $2.6 billion on 2020 and approach $3 billion (USD) in 2022.  The report is the next in a series from the firm on radiation detection that dates back to 2011.  Recent reports include opportunity analyses of radiation detection equipment in defense and homeland security, medical and health care and industrial applications.

Details about the report, including a downloadable excerpt are available at: http://nanomarkets.net/market_reports/report/radiation-detection-materials-markets-2015-2022

About the Report:

This report provides insight into the status of a wide range of materials for detection of gamma rays, x-rays and neutrons. Materials that have been used for decades for gamma and x-ray detection are not going away, but replacement materials are on the horizon. Restrictions on the use of helium-3 continue to drive a need for other materials for neutron detection. Materials such as CLYC (Cs2LiYCl6), that can detect both gamma rays and neutrons, are very compelling and have received a lot of attention lately. We discuss the commercial prospects of CLYC and other materials that have the potential to change the radiation detection materials industry. Notable materials include strontium iodide and cadmium zinc telluride (CZT).

Companies addressed in the report include: Acrorad, Canberra, CapeSym, Dynasil, GE Healthcare, Hamamatsu, Hilger Crystals, Kromek, ORTEC, Philips Healthcare, RMD, Saint-Gobain, Symetrica, Varian, and Zecotek Photonics.

This report includes granular eight-year forecasts of radiation detection materials, looking both at volume of material required and revenues. Forecasts are broken down by material type, application, and geography.

Highlights

• Needs of the domestic security and medical imaging industries are driving improvements to existing materials and development of new materials. The ultimate goal is a material with better resolution, faster decay time, better resistance to environment and radiation, while maintaining reasonable light yield and cost.
• There will still be a demand for established materials like sodium iodide, cesium iodide, and plastic scintillators. Growth in the end markets more than makes up for increased penetration of newer materials.
• Lanthanum bromide is seeing increased use, especially in security applications, and we expect this trend to continue, though growth will be somewhat tempered by its high cost. But Saint-Gobain Crystals owns sole rights for commercial production. Any company that can come up with a material that equals LaBr₃ in performance but beats it in price will find itself a winner.
• CLYC has gotten a lot of attention but has yet to prove itself, having fallen somewhat short on its promise use as a dual function gamma ray and neutron detector. In the short term, it is a viable replacement for ³He in neutron detection.
• CZT may be on the verge of overcoming previous difficulties with crystal growth that have kept costs too high for many commercial applications. If costs come down, this semiconductor material has excellent growth potential.
• Some new materials might find themselves on a fast track to commercial success. Promising entrants include lutetium fine silicate, patented by Zecotek, for gamma detection (especially for medical imaging) and⁶LiF/ZnS for neutron detection.

About NanoMarkets:

NanoMarkets tracks and analyzes emerging markets in energy, electronics and other area created by developments in advanced materials. The firm is a recognized leader in industry analysis and forecasts of the radiation detection market. Visit http://www.nanomarkets.net for a full listing of NanoMarkets' reports and other services.

SOURCE NanoMarkets

Related Links

http://www.nanomarkets.net