The global viscometer market, valued at USD 285 million in 2020, is projected to grow significantly, reaching USD 587.3 million by the end of 2031, according to Future Market Insights (FMI). The increasing application of viscometers in industries such as pharmaceuticals, petroleum, and cosmetics is expected to drive this demand.
The market is forecasted to expand at a healthy CAGR of 6.9%, with shipments exceeding 51,000 units during the forecast period from 2021 to 2031. North America is expected to remain the dominant region, expanding at a CAGR of 6.4% over the assessment period. The growing demand for accurate viscosity measurements in these industries is fueling the adoption of viscometers, which are crucial for ensuring product consistency and quality across a wide range of applications.
The need for controlling and monitoring product consistency before and after production has become crucial across industries like petrochemicals, pharmaceuticals, polymers & rubber, and chemicals. Increased focus on uniformity in products like paints and liquids is prompting these industries to adopt advanced measurement equipment, such as viscometers, thereby accelerating market growth.
Viscometers are gaining popularity due to their convenience, adaptability, and ease of use across various applications. Additionally, the rising demand from testing, research, and certification agencies is further boosting the market. FMI forecasts that rotational viscometers will dominate the market, accounting for approximately 30% of the global revenue share. Their adoption is growing due to their ability to optimize control time and enhance flexibility in production and delivery areas.
Key Takeaways from Viscometer Market Study
- The U.S. is forecast to account for over 70% of the sales in North America through 2031.
- The market in Germany is projected to register fastest growth in Europe, expanding at an impressive CAGR of 10% during the assessment period.
- China, being one of the leading producers and consumers of industrial equipment in the world, is anticipated to account for more than 50% of the viscometer sales in the East Asia market by 2031 end.
- India is expected to emerge as a highly lucrative market in South Asia & Pacific, accounting for around 40% of the total demand share in the region in 2021.
- In terms of end user, industrial is estimated to remain the most remunerative segment, accounting for more than 63.5% of the global sales over the next ten years.
Key Drivers
- Increasing availability of viscometer owing to the growing penetration of e-commerce platforms and rising research & testing activities are expected to favor the growth of the market.
- Rising number of government initiatives and campaigns undertaken in counties such as China, Germany, Brazil, India, the U.S., and others to expand their industrial sector is driving the sales of viscometer across the industrial segment.
Key Restraints
- Availability of low-quality products and improving access to cost-effective alternatives, specifically in local markets are the factors posing a challenge for viscometer market growth.
- Increasing customer inclination towards purchasing products through e-commerce platforms due to the convenience associated with the sales channel is hampering the growth of the offline segment.
Competitive Landscape
Top five players in the global viscometers market are Ametek Inc., Thermo Fisher Scientific, TA Instruments, Anton Paar GmbH, and A&D Company. As per FMI, more than 52.6% of the market share is expected to be captured by the top 10 players.
Leading player are focusing on expanding their product portfolios by increasing research and development activities to develop customer-specific products. Some of the companies are aiming for strategic collaborations with other manufacturers in order to enhance their manufacturing capabilities and capitalize on the increasing demand for viscometer. For instance,
- In April 2019, Anton Paar, an Austrian manufacturer of analytical instruments, announced launching a next generation sensor, L-Rix sensor. The three sensors, called L-Rix 5×00, are capable of measuring the concentration ratios of the liquid surrounding them using inline refractometry.
- ProRheo GmbH, A German producer of rotational viscometers, announced introducing a new viscometer, ProRheo123 for measuring viscosity with VT02-measuring systems. The instrument is capable to provide precise and accurate measurements for all types of fluids across all industries.
Some of the key players operating in the market profiled by FMI are:
- Thermo Fisher Scientific
- AMETEK.Inc.
- TA Instruments
- Anton Paar GmbH
- A&D Company
- Goettfert GmbH
- Fann Instrument
- Freeman Technology
- Brabender GmbH
- Cannon Instrument Company
- Lamy Rheology Instruments
- Shanghai Nirun Intelligent Technology Co., Ltd.
Viscometer Market by Category
By Equipment Type:
- Orifice Viscometer
- Capillary Viscometer
- Falling Piston Viscometer
- Rotational Viscometer
- Falling Ball Viscometer
- Vibrational Viscometer
By Sales Channel:
- Offline
- Online
By End User:
- Industrial
- Pharmaceutical
- Industrial Oils and Lubricants
- Paints & Coating
- Food & Beverages
- Petrochemicals
- Cosmetics
- Polymers & Rubber
- Others (Research & Academician and Building & Construction Materials)
- Testing & certification Agencies
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
Report Preview: https://www.futuremarketinsights.com/reports/viscometers-market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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