As per Future Market Insights (FMI), the global viscometer market is projected to be valued at ~US$ 300.4 Mn in 2021, expanding at a CAGR of ~6.9% over the forecast period of 2021-2031. During the FQ-20, following the outbreak of COVID-19, sales of viscometer declined due to the suspension of manufacturing activities following the pandemic-induced supply-chain disruptions.
Despite marginal decrease in sales, the market is set to register impressive year-on-year growth at 6.4% CAGR in 2021. The increasing demand from research, testing and certification agencies has improved viscometer market growth. Also, recovery of production across various industries, including petroleum, food & beverages, and others will aid the market growth over the coming years.
Backed by these factors, the global market will surpass US$ 587.3 Mn, reaching a shipment of 51,000 units through 2031, estimates FMI.
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Key Takeaways of Viscometer Market Study
- Within the industrial segment, the food & beverages industry is expected to be the primary end-user, accounting for over 18% of volume sold through 2031.
- In terms of sales channel, online sales channel will be the most preferred type, contributing nearly 56.7% of global revenue.
- Based on equipment type, capillary viscometer is expected to hold potential share of the global viscometer market whereas vibrational viscometer and falling ball viscometer is projected to expand with the higher growth throughout the forecast period.
- The U.S. and Germany are expected to hold dominance over the North America and Europe market, holding potential share of 69.2% and 30.4%, respectively.
- India, Mexico, and GCC countries are anticipated to expand with substantial growth rate over the forecast period.
“Increasing application of viscometer as a primary tool for quality control and to address new product formulation across industries will continue to improve sales. With increasing adoption of viscometer in testing and certification agencies, demand in the market will continue to rise through the forecast period,” says a Future Market Insights analyst.
The global viscometer market is considered to be moderately consolidated, with leading players accounting for nearly 3/5th of the market share. Penetration of small regional players will result in intense competition.
AMETEK Inc., Anton Paar GmbH, A&D Company, TA Instruments, Goettfert GmbH, Fann Instrument, Freeman Technology, Brabender GmbH, Cannon Instrument Company, Lamy Rheology Instruments, and Shanghai Nirun Intelligent Technology Co., Ltd among others are some of the leading players.
These players are adopting inorganic growth strategies such as partnerships, research & development activities, collaborations, acquisitions, technological advancements and innovations in order to capture a larger share in the market and strengthen their market presence.
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By Equipment Type:
- Orifice Viscometer
- Capillary Viscometer
- Falling Piston Viscometer
- Rotational Viscometer
- Falling Ball Viscometer
- Vibrational Viscometer
By Sales Channel:
By End User:
- Industrial Oils and Lubricants
- Paints & Coating
- Food & Beverages
- Polymers & Rubber
- Others (Research & Academician and Building & Construction Materials)
- Testing & certification Agencies
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
Viscometer Market Outlook in 2016-2020 Compared to 2021-2031 Forecast
Controlling the process parameters of materials, prior to production and post-production, has become necessary in various industries. Soaring concern regarding the maintenance of precise process parameters of desired materials has compelled industries to adopt novel measuring equipment such as modern viscometer.
Due to the global shutdown, manufacturing and production activities reached a sudden stand-still, resulting in slight drop in the market growth. Due to this, both high-cost and low cost producers of viscometers are anticipated to witness challenging mid-term growth market outlook.
Key Questions Answered in the Report
. What is the t growth outlook for the viscometer market?
. Which Industry is Identified as the Leading End User of Viscometer?
. Which is the Top-selling Equipment Type in the Viscometer Market?
. Which are Some of the Leading Companies Operating in Viscometer Market?
. At what rate did viscometer market value grow during the last 5 years?
. What is the growth outlook for North America Viscometer Market?
. At What Rate will the Europe’s Viscometer Market Grow during 2021 and 2031?
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