Viscometer Market Overview:
The global Viscometer Market size is estimated to grow at a CAGR of 4.5% during the forecast period 2018-2023. APAC is the fastest growing market with a CAGR of 6.1% which is mainly attributed to the growing demand from manufacturing industries. North America and Europe viscometer markets are estimated to grow at a CAGR of 4% and 2.7% respectively.
Viscometer Market Outlook:
Viscometers are the instruments or devices that are used to measure the viscosity of a fluid. However, Viscometers measure the viscosity of fluids which are under one flow condition only. According to Industry ARC findings, rheometers (a type of viscometer) will hold the largest market share during the forecast period. Rheometers are used in many applications such as petrochemical refineries, cosmetics, chemical industries, research laboratories, food and beverage industries, chemical industries and others.
Viscometer Market Growth Drivers:
Refinery plants are rapidly adopting automation into the plants to ensure maximum safety and security of equipment, personnel, and plant environment. This leads to higher demand for in-line viscometers in this industry. High usage of viscometers in chemical, petroleum, oil and gas industries are some of the driving factors for the growth of the market.
Viscometer Market Challenges:
There are a large variety of viscometers available in the market and are chosen based on the application. However, every viscometer has a limitation in their design and functionality. Moreover, the use of viscometer requires more technical knowledge than some of the similar devices such as consistometer. In addition to this, the cost of viscometer being extremely high always provides the end-users an option to adopt other alternatives products. Moreover, the accuracy of a viscometer is dependent upon proper selection, the engineering of the instrument, and precise temperature control. Negligence in any of these factors could result in inaccuracy in the measurement.
Viscometer Market Research Scope:
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Viscometer market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of viscometers market, and their specific applications in different industries.
Viscometer Market Report: Industry Coverage
Viscometer by Sensor Type: Rotational, Torsional Oscillation, Vibration, Falling Piston, Falling Ball, Orifice, Capillary, Rheometer, and Others
End Users of Viscometers: Petroleum (Oil and Gas), Chemical, Pharmaceutical, Food and Beverage, and Others
The Viscometer market report also analyzes the major geographic regions for the market as well as the major countries. The regions and countries covered in this study include:
- North America: The U.S., Canada, Mexico
- Europe: The U.K., Germany, Italy, France, Spain, Russia, and Rest of Europe
- Asia-Pacific (APAC): China, Japan, India, South Korea, and Rest of APAC
- Rest of World (RoW): South America, Middle East, and Africa
Viscometer Market Key Players Perspective:
In 2018, Anton Paar GmbH, which has its headquarters at Austria had launched new rotational viscometer ViscoQCTM 100 which is available in three versions and has unique function in chic design and is ideal for pharmaceutical applications. Some of the other key players mentioned in this report are AMETEK Inc (Brookfield), Thermo Fisher Scientific Inc, Spectris (Malvern), Waters Corporation, Cannon Instrument Company and among others.
Viscometer Market Trends:
Increase in usage of viscometers in chemical, oil and gas industries increases the demand of the viscometers market. In 2019, India got an approval of Rs225.94 billion ($3.17 billion) investment for the expansion of the Numaligarh refinery in Assam to meet rising fuel demand. Increase in investments in industries set to propel the viscometer market growth in the near future.
As per Oil & Gas Journal, the investments in the U.S. for upstream projects of oil and gas industries has been increased by 9% in the last year. These type of investments are expected to increase adoption of different types of viscometer as they are widely used in oil and gas industries, thereby increasing the demand of the market.
Increase in technological advancements, expansion of material manufacturing and petrochemical industries, and growing stringency of the regulatory framework for product safety compliance in cosmeceutical, biotechnology, and pharmaceutical industries are expected to increase the demand of the viscometers market globally.
Key Questions Addressed in the Viscometer Market Report
1. Is the market for viscometer growing? How long will it continue to grow and at what rate?
2. Which type of viscometer presents the major growth opportunities?
3. Is there a possibility for change in the market structure over time?
4. Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?
5. Do the key vendors look for partnerships to expand their businesses with respect to geography or product?
6. What is the current status of viscometers in different countries?
7. Which are the major relevant product segments within viscometers?
8. Which type of viscometer will witness heavy adoption of plastics in the near future?
9. What are the short-term, long-term, and medium-term growth drivers for the market?
10. What are the short-term, medium-term, and long-term challenges for the market?
11. What are the short-term, medium-term, and long-term opportunities for the market
12. Who are the top players/companies of the market?
13. What are the recent innovations in the market?
14. How many patents have been filed by the leading players?
15. What are the types of patents filed by the leading players?
16. What is the futuristic scenario for the adoption of viscometers market?
17. What is our Vision 2030 for Viscometer Market?
A few focus points of this Research are given below:
Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
Provide an overview of the product portfolio, including product planning, development, and positioning
Discuss the role of technology companies in partnerships
Explore the regional sales activities
Analyze the market size and giving the forecast for current and future global viscometer during the forecast 2018–2023
Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures
IndustryARC Research Best Practices
The Viscometer Market size is evaluated based on the number of products per organization type along with the varying price points pertaining to specific applications. These were identified as key informational conjectures for market estimation in 2017/2018.
The Viscometer Market share is thoroughly checked against all data points that have been incorporated and rechecked against various data sources. Various C-level executives and key opinion leaders are contacted for verification of the data.
The Viscometer market forecast and growth rate are achieved by applying the time series forecasting methodology on the various factors. The market forecast and growth rate are further backed with historical trends of the market along with a regressive mathematical model that assesses the value based on factors such as capital expenditure, equipment lifespan, R&D investments, and so on.
The Viscometer market demand has been researched taking into account the prominent economies across the different geographic regions to understand their corresponding impact on the market.
The Viscometer market drivers are evaluated for short-term, medium-term, and long-term based on the different market dynamics impacting the market.
The Viscometer market challenges are evaluated for short-term, medium-term, and long-term based on the different market dynamics impacting the market.
The Viscometer market trends have been analyzed taking into consideration the micro and macro trends prevalent in various geographies.
The Viscometer market outlook provides a brief overview of the market performance and anticipated change in market dynamics.
The Viscometer market analysis also involves the identification of new companies that have entered the market scenario and their impact on the market dynamics in the future.