Growth Influencing Factors:
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.
Expected Revenue Growth:
The global rheometer and viscometer market is projected to reach USD 878.6 million by 2023 from USD 697.7 million in 2017, at a CAGR of 4.0%.
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Objectives of the Study:
# To define, describe, and forecast the global viscometer market by product, sample type, end user, and region.
# To provide detailed information about the major factors influencing market growth (key drivers, restraints, opportunities, and industry-specific challenges).
# To strategically analyze micromarkets with respect to individual growth trends, prospects, and their contributions to the global viscometer market.
# To analyze market opportunities for stakeholders and provide details of the competitive landscape for key global players.
# To forecast the size of the market segments with respect to four main regions, namely, North America (US and Canada), Europe [Germany, France, the UK, and Rest of Europe (RoE)], Asia Pacific [China, India, Japan, and Rest of Asia Pacific (RoAPAC)], and the Rest of the World (RoW).
# To profile the key players active in the global rheometers and viscometers industry and comprehensively analyze their global revenue shares and core competencies.
# To track and analyze competitive market-specific developments such as product developments & commercialization, strategic mergers, market expansions, as well as agreements in the global rheometers and viscometers industry.
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.
The mandatory rheological evaluations for product quality assessment as regulatory guidelines across respective countries and the rising production output & capabilities of major product manufacturers are the key factors supporting the growth of the rheometers and viscometers market for petroleum product manufacturers & petrochemical refineries.
# Rheometer and viscometer manufacturing companies
# Pharmaceutical, biotechnology, and cosmeceutical companies
# Petroleum manufacturers and petrochemical refineries
# Food processing companies and beverage manufacturers
# Chemical and material manufacturers
# Environmental testing, food testing, and forensic analysis laboratories
# Product sales and distribution companies
# Research and development companies
# Research laboratories and academic institutes
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Geographical Growth Scenario:
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.
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.
Different Growth Strategies Adopted by Them:
Analysis of the market developments between 2014 and 2018 reveals that several growth strategies, such as product launches, expansions, mergers, and agreements were adopted by the market players to strengthen their product portfolios and maintain a competitive position in the rheometers and viscometers market. Among these business strategies, product launches and market expansions were the most widely adopted growth strategies by players in the market.
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