A crucial need exists to analyze the composition of materials nondestructively. Energy-dispersive spectrometers are widely used to perform this function, but their performance is limited by the energy resolution of the detector, typically 150 eV for Si(Li) at 6 keV. Calorimeters and tunnel junctions offer more than an order of magnitude improvement in energy resolution, with the prospect of vast improvements in performance for quantitative analysis. We present an analysis of the critical issues pertaining to the use of calorimeters for quantitative materials analysis, and show that significant performance advantages may be realized with the energy resolutions already achieved. We also describe other x-ray analysis methods for determining the chemical state of the material to be studied, which also may benefit from calorimeter technology.