Increasing use of rheometers and viscometers in research and diagnostic laboratories and expanding chemical and petrochemical industries is boosting market growth
Market Size – USD 791.62 million in 2020, Market Growth – at a CAGR of 4.3%, Market Trends – Rising adoption of automated laboratory systems
The Global Rheometers And Viscometers Market size is expected to reach USD 1,087.57 million by 2028 at a CAGR of 4.3%, according to the latest report by Reports and Data. Steady market revenue growth is primarily attributed to technological advancements in rheometers and viscometers, rapidly surging demand among various end-use industries including pharmaceutical and biotechnology, cosmetics, and food & beverage industries, and from petrochemical refineries, and chemical and material manufacturers, and due to wide usage of these devices in research and diagnostic laboratories.
Rheometers and viscometers are devices extensively used by a number of end-use industries for measuring the viscosity and rheological properties of various fluid samples such as liquids, polymers, suspensions, glass formers including silicates, slurry flows, or bodily fluids such as blood. Viscometers, on the other hand, are devices that measure and analyze the viscosity of different types of fluids.
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Viscometers and rheometers are widely employed in the petrochemical and food & beverage industries, as they measure the engine oil flow under different temperatures and determine the viscosity of food products such as honey, jams, and syrups. In addition, considerable investments in R&D activities in food & beverage, pharmaceutical, and cosmetics industries, rising focus on laboratory automation, and increasing demand for high-quality pharmaceutical and cosmeceutical products are other significant market growth-influencing factors. Stringent government norms regarding the quality check of food and drug products is a factor further expected to propel global market growth going ahead.
Some Key Highlights from the Report:
- The viscometers segment is expected to remain the leading product type segment in terms of revenue share over the forecast period. Extensive use of viscometers across research and diagnostic laboratories and pharmaceutical and food & beverage industries, increasing use of blood viscometers in cardiovascular disease diagnosis and treatment, and advantages of these devices such as faster processing time, higher accuracy and versatility, and ease of handling are key factors driving revenue growth of this segment.
- Petroleum product manufacturers & petrochemical refineries segment is expected to lead in terms of revenue share among the other end-use segment over the forecast period. Rapidly growing petrochemical industry and rising demand for rheometers and viscometers for petroleum production processes are some factors projected to boost revenue share of this segment.
- The North America rheometers and viscometers market accounted of largest revenue share in 2020, and is expected to maintain its dominance over other regional markets over the forecast period. Expanding pharmaceutical, cosmetics, food & beverage, and petrochemical industries and rising applications of rheometers and viscometers in research and diagnostic procedures are some key factors driving market growth.
- The key players operating in the global rheometers and viscometers market include Thermo Fisher Scientific, Brookfield Engineering Laboratories, Anton Paar, Lamy Rheology Instruments, Cannon Instrument Company, Waters Corporation, Bartec Group, Shimadzu Corporation, Emerson, GBC Scientific Equipment Pty Ltd., Goettfert, Petroleum Analyzer Company LP (PAC LP), Spectris, Dynisco, and Hydramotion.
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For the purpose of this report, the global rheometers and viscometers market has been segmented based on product type, sample type, end-use, and region:
By Product Type (Revenue, USD Million; 2018-2028)
- Dynamic Rotational Rheometers
- Torque Rotational Rheometers
- High-throughput Rheometers
- Oscillatory Rheometers
- Capillary Rheometers
- Rotational Viscometers
- Capillary Viscometers
- Process Viscometers
By Sample Type (Revenue, USD Million; 2018-2028)
- Suspensions & Slurries
- Resins & Coatings
- Pastes & Gels
By End-user (Revenue, USD Million; 2018-2028)
- Pharmaceutical, Biotechnology, and Cosmeceutical Companies
- Research Laboratories and Academic Institutes
- Petroleum Product Manufacturers & Petrochemical Refineries
- Chemical and Material Manufacturers
- Food and Beverage Manufacturers
- Paints & Coatings Manufacturers
By Region (Revenue, USD Million; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of the Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of the Middle East & Africa
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