Over 63.5% of Viscometer Sales to concentrate in the Industrial Sector; F&B Industry is expected to Account for Maximum Demand within the Segment
Continued expansion of process industries such as chemicals, oil & lubricants and consequently rising need for viscosity tests are enabling growth in the viscometer market.
A recent market study published by FMI on the Viscometer Market includes global industry a...
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. .
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.
During the forecast period, the global viscometer market is expected to be an optimistic market owing to increasing deployment of automation in various manufacturing procedures as well as increasing investments of manufacturers in research & development.
Manufacturers are highly investing in research & development for product advancement to meet the industry standards and regulatory framework sanctioned by government. This in turn, is driving the growth of viscometer market globally.
About Testing Equipment Division at Future Market Insights
The Testing Equipment division of FMI is a specialized department catering to unique requirements in the industry. Exclusive coverage of the testing equipment market includes valuable information on regular, compliance, destructive, and non-destructive testing services and associated equipment. The team also executes several complex projects pertaining to the area of manufacturing and process industries, research and academia, testing and certification institutions, government agencies dealing into scientific and environmental research, and defense organizations. Our research studies are trusted and widely referred by stakeholders for gaining insights and developing cutting edge strategies.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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