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. 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.
Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market. The pandemic has affected every segment of the market, along with bringing disruption in the supply chain, demands & trends, and financial difficulties. The report covers the initial and future assessment of the COVID-19 impact on the market.
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The report essentially evaluates the significant presence of the global Rheometers and Viscometers market across the world’s major regions. The global Rheometers and Viscometers market has been categorized into several key geographical regions. North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa are the leading Rheometers and Viscometers market regions. In this section of the report, the authors have examined the market share, market size, revenue contribution, sales network, distribution channels, and numerous other aspects of each geographical segment.
Reports and Data’s latest report sums up the significant changes in the global business sector that followed the COVID-19 outbreak. The pandemic has also had an enormous impact on the global Rheometers and Viscometers market, disrupting the market dynamics and trends. The global health crisis has gravely affected the Rheometers and Viscometers industry, disrupting the global supply chains and bringing about volatility in prices and product demand. However, industry experts believe that the global Rheometers and Viscometers market will regain traction in the post-COVID scenario. The report further offers a preliminary and a future assessment of the pandemic’s impact on this lucrative business space.
Key findings of 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 study, the global Rheometers and Viscometers market has been segmented on the basis of disease type, application, distribution channel, and region:
By Product Type (Revenue, USD Million; 2018-2028)
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
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