Rheometers & Viscometers Market Worth $878.6 Million by 2023 - Exclusive Report by MarketsandMarkets

CHICAGO, October 12, 2018 /PRNewswire/ --

According to the new market research 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", published by MarketsandMarkets, the report studies the global Rheometer & 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%. 

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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.

Based on product, viscometers are estimated to account for the largest share of the Rheometer & Viscometers Market in 2018. 

On the basis of product, the Rheometer & 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 global Rheometer & Viscometers Market in 2018. The large share of this segment can be attributed to the increasing adoption of viscometers among lab technicians and researchers in pharmaceutical and petrochemical industries due to the procedural benefits offered by these instruments, such as the capability to analyze samples in varied environments, high accuracy, versatility for analyzing different samples, ease of handling, fast processing time, device portability, need of small sample volume, capability to analyze time-dependent fluids, and capability to perform shear-dependent analysis at various speeds.