In Line Process Viscometer Market heats up: Global Market Insights, Inc.
In line process viscometer (ILPV) Market size was USD 133.9 million for 2015, with 6.8% CAGR growth from 2016 to 2023, as per the latest research report by Global Market Insights, Inc. Strong energy needs and the evolution of chemical processing technology, particularly in China and India, will drive in line process viscometer market growth.
APAC, with India and China industrial sector growth, was the dominant regional industry and accounted for over 30.2% of the revenue share in 2015. Indian and Chinese governments have framed favorable FDI policies intended to enhance petroleum and petrochemical production in the country. The policies may facilitate new investments in the refining sector thereby driving stimulating ILPV market size.
Europe, dominated by Germany, UK and France, may witness below average industry growth rates at 6.2% CAGR up to 2023. Environmental norms by REACH along with focus on parameter control in refining may promote the use of ILPV in Europe.
Vibration in line process viscometer technology was dominant and valued at over USD 29 million in 2015. Its ability to measure high viscous fluids with viscosity in excess of 1,000 Pa.s makes vibration technology preferable in numerous industries. In addition, vibration ILPV provides the highest quality, accuracy and reliability over huge time spans in various industrial processes.
Pharmaceutical applications are predicted to grow significantly, at 7% CAGR for the forecast timeframe. Growing pharmaceutical industry in China and India and increasing high viscosity fluid usage for ophthalmic solutions will drive ILPV demand growth.
MNCs are steadily setting up new bases in APAC while expanding existing manufacturing locations worldwide. These instruments exhibit high operational supremacy over conventional viscometers, which makes them a lucrative segment for investors and manufacturers.
By maintaining high quality of end-products with reliable and accurate measurements resulting in process stabilization, providing complete automation and cost reduction, the in line process viscometers market may become one of the most revenue intensive segments of all measurement and instrumentation markets globally.
Inability to measure multi directional flow coupled with intensive competition may challenge industry growth and affect in line process viscometer market price. This is particularly ineffective in the case of multi-channel and reversible flow systems which are present in adhesive mixing equipment and some refineries.
To access sample pages or view this report titled, “In Line Process Viscometer (ILPV) Market Size By Application (Chemicals, Petroleum, Food & Beverages, Pharmaceuticals), By Technology (Torsional Oscillation, Rotational, Moving Piston, Vibration, Dynamic Fluid Pressure, Acoustic Wave [Solid State], Coriolis), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023” in detail along with the table of contents, please click on the link below:
Key insights from the report include:
- Global in line process viscometer market size is forecast to register USD 225.7 million by 2023.
- Acoustic wave ILPV technology is forecast to observe highest gains of more than` 7.3% CAGR from 2016 to 2023.
- APAC food & beverages application growth prediction projects 7.5% CAGR and with USD 9 million in revenue for 2023.
- North America, dominated by U.S. in line process viscometer market share, may observe torsional oscillation technology witnessing USD 10 million in revenue for 2023 with at above 6.4% CAGR.
- MEA, led by petrochemical industry growth in Saudi Arabia, UAE and Qatar, will gain revenue at over 7% CAGR. Latin America rotational in line process viscometer market size will register close to USD 3 million with over 6.6% CAGR.
- Global in line process viscometer market share denotes partial consolidation. Key players, Brookfield Engineering, Anton Paar, ProRheo and Cambridge Viscosity catered to majority of the demand for 2015. Companies focus product development for diverse applications as part of the growth strategy.