In Line Process Viscometer (ILPV) Market Analysis

In Line Process Viscometer Market Analysis

Vibrational viscosity measurement technology dominated the demand and estimated to generate revenue more than USD 48 million by 2023. Increase in industrial demand for high quality, accurate and reliable fluid procedure has driven demand in this segment. These devices are used in applications such aslubricants, refineries, adhesives, chemicals, plastics, inks, paper, paints, oils, coatings, shampoos, and foods.
 

Torsional oscillatory viscometer (TOV) market size is projected to gain over 6.8% CAGR up to 2023. Petrochemical, polymer, asphalt, adhesives, and oil refining industries are some of the major applications. Recently, healthcare is noted to adopt this technology to measure human blood viscosity which may stimulate market growth in this segment.
 

Acoustic wave viscometer demand is predicted to gain highest growth rate at over 7.3% up to 2023. Growth in refinery output along with rising demand for petroleum and automotive applications may instigate demand.
 

Petroleum application dominated the industry demand and ought to exceed revenue USD 85 million by 2023. Product quality, procedure yield and efficiency have become the major factors to generate sales due to intense crude oil market competition, which has driven the market growth in petroleum industry.
 

Chemical applications may observe revenue of more than USD 54 million by 2023 owing to increase in trend for automation manufacturing procedure. Chemical industries such as paints & coatings, adhesives, inks and other fluid-based sectors are noted to adopt automation in their manufacturing practices in order to reduce operational cost which is predicted to trigger ILPV demand in this segment.
 

Pharmaceuticals application is calculated to grow at a highest rate at over 6.8% by 2023. Increased use in ophthalmic products owing to expansion in healthcare sector may positively drive in line process viscometer demand.
 

APAC, with major demand from India and China in line process viscometer market size, dominated the regional industry and is anticipated to generate revenue over USD 66 million by 2023. Presence of large scale refineries & chemical industries and consumption due to large population size has influenced inline process viscometer market growth.
 

North America, with U.S. leading the demand, is set to grow at over 6.1% CAGR by 2023. Food & beverages and pharmaceutical applications are predicted to grow at a faster rate in this region.
 

MEA may gain at a rate of more than 6.9% owing to presence of key chemical industries. Acoustic wave and dynamic pressure are noted to be among majorly used technologies.