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Rheometers & Viscometers Market worth $878.6 million by 2023

 



(Medical-NewsWire.com, October 14, 2019 ) The Rheometers & Viscometers Market is projected to reach USD 878.6 million by 2023 from USD 721.5 million in 2018, at a CAGR of 4.0%.



The demand for rheometers and viscometers across key markets is majorly driven by factors such as technology advancements; expansion of petrochemical and material manufacturing industries; growing stringency of the regulatory framework for product safety compliance in cosmeceutical, biotechnology, and pharmaceutical industries; rising public-private investments to support product innovation; and increasing burden of target diseases, globally. However, the high cost of viscometers and rheometers is expected to restrain the growth of this market during the forecast period.



Based on product, viscometers are estimated to account for the largest share of the rheometers and viscometers market in 2018.



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On the basis of product, the rheometers and viscometers market is segmented into rheometers (further segmented into dynamic rotational rheometers, torque rotational rheometers, capillary rheometers, oscillatory rheometers, high-throughput rheometers, and other rheometers) and viscometers (further segmented into rotational viscometers, process viscometers, capillary viscometers, and other viscometers). The viscometers segment is expected to account for the largest share of the global rheometers and viscometers market in 2018.



Based on end user, the petroleum product manufacturers & petrochemical refineries segment is expected to account for the largest share of this market in 2018.



On the basis of end user, the rheometers and viscometers market is categorized into petroleum product manufacturers & petrochemical refineries; pharmaceutical, cosmeceutical, and biotechnology companies; chemical and material manufacturers; food and beverage manufacturers; research laboratories and academic institutes, and other end users. Petroleum product manufacturers & petrochemical refineries are expected to account for the largest share of the rheometers and viscometers market in 2018.



North America is expected to dominate the rheometers and viscometers market in 2018.



Geographically, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The large share of North America can be attributed to ongoing technological advancements in the field of rheometers & viscometers, the wide availability of rheometers and viscometers in the region (owing to the strong distribution networks of major product manufacturers in North America), and the strong presence of major device manufacturers.



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Major players operating in the market include Anton Paar (Austria), Spectris (UK), Waters Corporation (US), Brookfield Engineering Laboratories (US), Cannon Instruments Company (US), Thermo Fisher Scientific (US), Emerson (US), BARTEC (Germany), GBC Scientific Equipment (Australia), Dynisco Polymer Test (US), Lamy Rheology Instruments (France), GOTTFERT (Germany), Hydramotion (US), and PAC LP (US), among others.



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