The global viscometer market is poised to grow significantly, with a projected compound annual growth rate (CAGR) of 6.9%, reaching a valuation of USD 587.3 million by 2031. This growth is driven by increasing applications of viscometers across diverse industries including pharmaceuticals, petroleum, and cosmetics. As these sectors demand precise viscosity measurements to ensure product quality and efficiency, the market for viscometers is expected to expand robustly over the forecast period.
Controlling and monitoring the process parameters of products prior to and post-production have become an integral process across petrochemicals, polymers & rubber, pharmaceutical, and chemicals industries. Increasing concerns regarding uniformity in the consistency of finished products such as paints and other liquids are compelling aforementioned industries to adopt new measuring equipment such as viscometer, which is in turn, driving the market.
Viscometers are increasingly gaining popularity due to their favorable characteristics, such as convenience, adaptability, and ease of use, for various end-to-end applications. In addition to this, rising demand from testing, research, and certification agencies is expected to propel the demand for viscometers. Driven by this, the sales of viscometer is projected to spur at a CAGR of 6.4% in 2021.
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As per FMI, rotational viscometers is estimated to emerge as the dominant segment, accounting for around 30% of the revenue share in the global market. The growth of the segment is attributed to the increasing adoption of these viscometers at production areas, workshop areas, and delivery areas as it helps to optimize the control time and flexibility.
“Key manufacturers are emphasizing on developing novel products with innovative features such as memorization, data tracing, and programming to make them more user-friendly. A slew of such advancements is expected to augment the sales in the coming years,” says the FMI analyst.
Key Takeaways from the 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.
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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.
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 ~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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