The Global In-Line Process Viscometer market was evaluated around USD 0.11 billion in the 2012 and is expected to reach approximately USD 0.21 billion by the end of 2022 while registering itself at a compound annual growth rate (CAGR) of 6.42% over the forecast period. A viscometer is a tool used for measuring fluid’s viscosity either when the unit is inactive, or the fluid is inactive. In-line process viscometers are extensively used over several end-user industries like pharmaceuticals, foods and beverages, chemicals and petroleum. The rapid rise in purification capacities owing to rising energy need is anticipated to fuel the global ILPV market demand. Use of in-line process viscometers aids in stabilizing the purification process; it is accurate and reliable over its performance. It takes around 4-12 hours to recognize and repair a problem developing owing to the viscosity of a specific fuel. This can direct to damage estimating approximately USD 1.5 million that can be minimized or reduced using ILPV. Additionally, the price of installing an in-line process viscometer is just 1/4th to that of the cost obtained during repairing breakdown or maintenance of the instrument. Correct control of fuel viscosity is believed to be a vital component in the automobile market, and ILPV manages fuel fragmentation, favorable for proficient combustion and thus is acquiring approval in automobile industry around the world. It has real-time supervising which assists the manufacturers to keep an eye on the quality of product and fulfill the regulatory measures concurrently. Technological advancements and Product developments for a variety of applications in refining plants and in other applications have assisted in constantly amending the production quality, productivity, and profitability. Though, incapability to measure multidirectional stream along with the frequent price wars is anticipated to be the major challenges for industry players. The global food & beverages industry growth along with rising healthcare spending especially in developing markets of Latin America and Asia is projected to boost the ILPV demand.
The Global ILPV market is segmented on the basis of the key technologies which are torsional oscillation, rotational, vibration, Coriolis, moving the piston, acoustic wave, and dynamic fluid pressure. In 2013, vibration ruled the total market and reported for 22.3% of global market revenue. The acoustic wave is anticipated to be the highest growing technology segment at a projected compound annual growth rate of 7.3% from during the forecast period.
Application Outlook and Trend Analysis
In 2013, petroleum came out as the major application section for in-line process viscometer (ILPV) and reported for 40% of overall market revenue. Beverage and foods are anticipated to be the highest growing section at an expected compound annual growth rate of 6.7% over the forecast period. The expansion of food and beverages section predominantly in BRICS countries is projected to boost the demand for ILPV in the market. The chemical industry is projected to grow at a compound annual growth rate of 6.4% over the forecast years.
Regional Outlook and Trend Analysis
Asia Pacific regional market ruled the Global in-line process viscometer (ILPV) market and in 2013, reported for 30.1% of overall market revenue. Asia Pacific region together with being the leading market is also anticipated to be the highest growing regional industry for ILPV with a projected compound annual growth rate of 7% over the forecast period. Rising energy demand along with the expansion of chemical industry especially in budding markets of India and China is anticipated to boost the demand for in-line process viscometer (ILPV) in the region. Europe and North America has followed the Asia Pacific and are estimated to grow at a stable rate during the next few years.
Competitive Outlook and Trend Analysis
The global in-line process viscometer (ILPV) market is highly segmented in leading four market participants including Cambridge Viscosity, proRheo GmbH, Anton Paar, and Brookfield Engineering Laboratories Inc. In 2013, these players reported for below 30% of global market. Other major players in the global market are Brabender Gmbh & Co. Kg, Lamy Rheology, Hydromotion, Nametre (Galvanic Inc.), Vectron International, Inc., Vaf Instruments, Sofraser, Fuji Ultrasonic Engineering, Mat Mess- & Analysentechnik, Micro Motion (Emerson Process Management), Endress+Hauser Consult AG, Norcross, Orb Instruments, Inc., Lemis Baltic, Atac, Bartec, and Marimex America LLC.