Immersion Oil Market - Snapshot

Immersion oils are pellucid oils that have specific optical and viscosity characteristics compatible for usage in microscopy. Immersion oils have a refractive index closer to that of glass, and they do not refract the beams of light being focused on the item being examined. Consequently, all light beams are focused onto the object to be examined, as opposed to light beams going through air and being scattered, thus hampering the quality of the analysis. Using immersion oils results in higher brightness at high magnification and high image resolution. The global immersion oil market is expected to expand at a significant rate driven by increase in demand for innovation in the field of science. The immersion oil market was valued at about US$ 55 Mn in 2016 and is projected to expand at a CAGR of more than 5% during the forecast period.       

Factors such as improvements in sample labelling, contrast, illumination, resolution, signal detection, and data processing have occurred at all stages of microscopy experiments, which are driving the demand for immersion oil. The discovery of blood cells in the human body opened the doors for advanced studies in cell biology. Discovery of genes involved in human development through microscopes is a clear demonstration of the importance of microscopes in life sciences. Rise in demand for microscopes is expected to boost the demand for immersion oil. Increase in innovation of microscopes has had a significant impact on the global immersion oil market. However, less number of research studies on immersion oil and no new innovation in magnification techniques are also restraining the immersion oil market.

immersion oil market

Key players in the immersion oil market need to focus on the promotion of immersion oil, as the market is very small and the key players operating in this market are also less. Nanotechnology can boost the immersion oil market owing to the increase in research and development activities on nano-sized products.

Major players operating in the immersion oil market have adopted mergers and acquisitions as their key strategy to expand their network and boost their investments. For instance, in 2016, Honeywell International Inc. acquired Xtralis, a leading company that operates in the field of early fire and intrusion detection technologies. The acquisition fits perfectly with Honeywell's technology innovation and leadership and helped expand its product portfolio. Launching new products and facilities is likely to be the long-term strategy of immersion oil manufacturers. For example, Cargille Laboratories, Inc. launched a whole new series of Cargille Meltmount for microscopy and optical coupling. These are specially formulated for optical-quality thermoplastics for usage in microscope slide mounting and in other optical coupling applications. The company developed its new line of Sub-Lux Gels, which are profoundly black gels and are designed to eliminate back reflection when paired with glasses of similar refractive index. Flinn Scientific Inc. launched Flinn Advanced Compound Microscopes that deliver high-quality optics, which is considered the best for advanced biological science courses and includes easy-to-use software. Thermo Fisher Scientific developed the Thermo Scientific Richard-Allan Scientific Resolve Immersion Oil that contains no PCBs. It is a clear, colorless oil that allows light transmission throughout most of the UV-VIS spectrum

Immersion oil is utilized in optical microscopes in order to obtain a clear picture of the object. A few decades ago, paraffin oil was mostly used in optical microscopes; however, this oil has various drawbacks, such as it hardens with time, it turns yellow with age, which is not desirable for usage in microscopes. The surface of the microscopic glass has to be clean and clear for accurate observations. Subsequently, after various trials, paraffin oil was replaced by cedar wood oils, which offered a clear image and has a long-term effect than paraffin oil. Cedar wood oil is made of wood, roots, and stumps, which are leftovers of felled trees of timber. However, after a period of time, the usage of cedar wood also resulted in the same drawback. This led to cedar wood oil being replaced by synthetic oil, which offered various advantages over other oils. It does not turn yellow with age and is also temperature resistant, which is highly useful for elevated temperatures. Castor oil has also been gaining popularity for microscopic use in recent years, as it offers various advantages over other oils.

In terms of region, North America and Europe are key markets for immersion oil. Asia Pacific was recorded to be the rapidly expanding region for . Asia Pacific is a key market for immersion oil owing to strong research and development activities in Japan, China, South Korea, and India. Japan is a key market for immersion oil in Asia Pacific due to the high expenditure on R&D activities in the country.

Key players operating in the optical microscope immersion oil market include Cargille Labs, EMD Millipore Corporation, Flinn Scientific, Thermo Fisher Scientific, Azzota Corporation, Nikon Instruments INC., Honeywell International Inc., Leica Microsystems, Olympus Corporation, and Idemitsu Kosan Co., Ltd.

Immersion Oil Market – Overview

This report analyzes and forecasts the market for immersion oil at the global and regional level. The market has been forecast based on revenue (US$ Mn) and volume (liters) from 2016 to 2025. The study includes drivers and restraints of the global immersion oil market. It also covers impact of these drivers and restraints on the demand for immersion oil during the forecast period. The report also highlights opportunities in the immersion oil market at the global level.

The report comprises a detailed value chain analysis, which provides a comprehensive view of the global immersion oil market. The Porter’s Five Forces model for the immersion oil market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein applications are benchmarked based on their market size, growth rate, and general attractiveness.

The study provides a decisive view of the global, immersion oil market by segmenting it in terms of type, application and end use industry. The segments have been analyzed based on present and future trends. Regional segmentation includes the current and projected demand for immersion oil in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers the demand for individual type, application, and end-use industry segments in all the regions. Key players operating in the immersion oil market include Cargille Labs, EMD Millipore Corporation, Flinn Scientific, Thermo Fisher Scientific, Azzota Corporation, Nikon Instruments INC., Honeywell International Inc., Leica Microsystems, Olympus Corporation, and Idemitsu Kosan Co., Ltd. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.

The report provides the estimated market size of immersion oil for 2016 and forecast for the next nine years. The global market size of immersion oil has been provided in terms of revenue and liters. Market numbers have been estimated based on types, applications and end use industries of immersion oil. Market size and forecast for each major type, application, and end use industry have been provided in terms of the global and regional market.

In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players operating in various end-use industries, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.

Key Takeaways

  • An extensive analysis of the immersion oil market trends and shares from 2016 to 2025 to identify the market opportunities and analyze industry development
  • A list of key developments in the immersion oil market made by key players
  • A list of key factors responsible for building the upcoming opportunistic roadmap for the immersion oil market at a global, regional, and country level
  • Comprehensive analysis with respect to investments and price trends that impact the outlook of the global immersion oil market between 2016 and 2025
  • The report provides insights into market opportunities for various stakeholders in the value chain and a detailed competition landscape for key players dominating the industry to understand competition level
  • Porters’ Five Forces highlight the potency of buyers and suppliers and enable stakeholders to make profit-oriented business decisions. They analyze the strengths and weaknesses to gain strategic position in the market.