Objectives of This Study:
# Covid Impact on Rheometer & Viscometer Market, growth/decline in product type/use cases of Rheometer & Viscometer Market due to cascaded impact of Covid on Extended Ecosystem..
# How top 50 companies in Rheometer & Viscometer Market are making rapid shifts in their strategies as we speak here.
# Outside-in view of top 50 companies client and client’s clients shifting short-term priorities
The report studies the global rheometers and viscometers market over the forecast period from 2018 to 2023. The 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.
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Based on end user, the petroleum product manufacturers & petrochemical refineriessegment 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.
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.
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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# 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
# Clinical research organizations (CROs)
# Government and non-governmental regulatory authorities
# Independent national and international associations
# Diagnostic and forensic testing laboratories
# Market research and consulting firms