Rheometer & Viscometer Market – Global Industry Dynamics

PUNE, India, 2020-Feb-17 — /EPR Network/ —

The report studies the global rheometers and viscometers market over the forecast period from 2018 to 2023. The market is projected to reach USD 878.6 million by 2023 from USD 721.5 million in 2018, at a CAGR of 4.0%.

The demand for rheometers and viscometers across key markets is majorly driven by factors such as technology advancements; expansion of petrochemical and material manufacturing industries; growing stringency of the regulatory framework for product safety compliance in cosmeceutical, biotechnology, and pharmaceutical industries; rising public-private investments to support product innovation; and increasing burden of target diseases, globally. However, the high cost of viscometers and rheometers is expected to restrain the growth of this market during the forecast period.

Based on end user, the petroleum product manufacturers & petrochemical refineries segment is expected to account for the largest share of this market in 2018.

On the basis of end user, the rheometers and viscometers market is categorized into petroleum product manufacturers & petrochemical refineries; pharmaceutical, cosmeceutical, and biotechnology companies; chemical and material manufacturers; food and beverage manufacturers; research laboratories and academic institutes, and other end users. Petroleum product manufacturers & petrochemical refineries are expected to account for the largest share of the rheometers and viscometers market in 2018. The mandatory rheological evaluations for product quality assessment as regulatory guidelines across respective countries and the rising production output & capabilities of major product manufacturers are the key factors supporting the growth of the rheometers and viscometers market for petroleum product manufacturers & petrochemical refineries.

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Based on product, viscometers are estimated to account for the largest share of the rheometers and viscometers market in 2018.

On the basis of product, the rheometers and viscometers market is segmented into rheometers (further segmented into dynamic rotational rheometers, torque rotational rheometers, capillary rheometers, oscillatory rheometers, high-throughput rheometers, and other rheometers) and viscometers (further segmented into rotational viscometers, process viscometers, capillary viscometers, and other viscometers). The viscometers segment is expected to account for the largest share of the global rheometers and viscometers market in 2018.

The large share of this segment can be attributed to the increasing adoption of viscometers among lab technicians and researchers in pharmaceutical and petrochemical industries due to the procedural benefits offered by these instruments, such as the capability to analyze samples in varied environments, high accuracy, versatility for analyzing different samples, ease of handling, fast processing time, device portability, need of small sample volume, capability to analyze time-dependent fluids, and capability to perform shear-dependent analysis at various speeds.

North America is expected to dominate the rheometers and viscometers market in 2018.

Geographically, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The large share of North America can be attributed to ongoing technological advancements in the field of rheometers & viscometers, the wide availability of rheometers and viscometers in the region (owing to the strong distribution networks of major product manufacturers in North America), and the strong presence of major device manufacturers.

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As of 2017, the global rheometers market was dominated by Anton Paar (Austria), Spectris (UK), and Waters Corporation (US), whereas, the global viscometers market was dominated by Brookfield Engineering Laboratories (US), Anton Paar (Austria), and Waters Corporation (US). In the past three years, these companies adopted product developments & commercialization, market expansions, mergers, and agreements as their key business strategies to ensure market dominance. Cannon Instruments Company (US), Thermo Fisher Scientific (US), Emerson (US), BARTEC (Germany), and GBC Scientific Equipment (Australia) are some of the other major players in this market.

Analysis of the market developments between 2014 and 2018 reveals that several growth strategies, such as product launches, expansions, mergers, and agreements were adopted by the market players to strengthen their product portfolios and maintain a competitive position in the rheometers and viscometers market. Among these business strategies, product launches and market expansions were the most widely adopted growth strategies by players in the market.

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