RHEOMETERSAND VISCOMETERS MARKET WORTH $878.6 MILLION BY 2023.
MarketsandMarkets' report, "Rheometer &Viscometer Market by Product (Dynamic & Torque Rotation, Oscillatory, Capillary Rheometer, Rotation, Process, Capillary Viscometer), Sample (Resin, Coating, Suspension),End User (Petroleum, Pharma Co, Chemical, Academia)--Forecasts to 2023," projects the market to reach $878.6 million by 2023 from $721.5 million in 2018, at a CAGR of 4%.
The demand for rheometers and viscometers across key markets is 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.
The high cost of viscometers and rheometers is expected to restrain the growth of this market during the forecast period.
On the basis of product, the rheometers and viscometers market is segmented into rheometers (further segmented into dynamic rotational rheometers, torque rotational rheometers, capillary rheometers, oscillatory rheometers, high-throughput rheometers and other rheometers) and viscometers (further segmented into rotational viscometers, process viscometers, capillary viscometers and other viscometers).
The viscometers segment is expected to account for the largest share of the market in 2018. This can be attributed to the increasing adoption of viscometers among lab technicians and researchers in pharmaceutical and petrochemical industries.
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|Title Annotation:||market watch|
|Date:||Nov 1, 2018|
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