San Francisco, California, Oct. 24, 2014 (GLOBE NEWSWIRE) -- The global market for in-line process viscometer is expected to reach USD 185.4 million by 2020, according to a new study by Grand View Research, Inc. Rapid increase in global refining capacity on account of growing energy demand is expected to remain a key driving factor for the global market. ILPV provides real-time monitoring that helps manufacturers monitor product quality and meet regulatory standards. Additionally, growth in food and beverage industry coupled with increasing healthcare expenditure in the emerging markets of India, China and Brazil is also expected to have a positive influence on market growth. Lack of ability to measure multidirectional flow along with ongoing price wars is expected to remain key challenges for market participants.
Vibration emerged as the leading technology segment for ILPV and accounted for 22.3% of total market revenue in 2013. Vibration technology is best suited for continuous direct viscosity measurement in tanks and/or pipes and is widely used across various end-use industries. Acoustic wave is expected to be the fastest growing technology segment, at an estimated CAGR of 7.3% from 2014 to 2020. Acoustic wave technology is widely used for oil conditioning based monitoring needs which have helped in developing its market particularly in oil & gas industry.
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Further key findings from the study suggest:
- Petroleum dominated the global application market for ILPV and accounted for 40% of total market revenue in 2013. Increasing refining capacity, particularly in the Middle East and Asia Pacific is expected to drive the ILPV demand in petroleum applications. Pharmaceutical is expected to be the fastest growing application market, at an estimated CAGR of 6.7% from 2014 to 2020. Increasing regulatory intervention for improving the healthcare industry, particularly in BRICS nations is expected to fuel the demand for ILPV in the pharmaceutical industry.
- Asia Pacific continued its dominance in the global market and accounted for 30.1% of total market revenue in 2013. It is also expected to be the fastest growing regional market, at an estimated CAGR of 7% from 2014 to 2020. Rapid refining capacity additions on account of growing fuel consumption, particularly in China and India, is expected to spur growth of ILPV in the region.
- The global market for is highly fragmented with top four companies including Brookfield Engineering Laboratories Inc., Anton Paar, proRheo GmbH and Cambridge Viscosity accounting for less than 30% of the total demand. Other key companies operating in the global market include Brabender Gmbh & Co. Kg, Lamy Rheology, Hydromotion, Nametre (Galvanic Inc.), Vaf Instruments, Fuji Ultrasonic Engineering, Marimex America Llc., Sofraser, Mat Mess- & Analysetechnik, Micro Motion (Emerson Process Management), Norcross, Lemis Baltic, Orb Instruments, Inc., Endress+Hauser Consult AG, Bartec and Vectron International, Inc.
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For the purpose of this study, Grand View Research has segmented the in-line process viscometer market on the basis of technology, application and region:
Global In-Line Process Viscometer Technology Outlook (Revenue, USD Million, 2012 - 2020)
• Torsional Oscillation
• Moving Piston
• Dynamic Fluid Pressure
• Acoustic Wave (Solid State)
Global In-Line Process Viscometer Application Outlook (Revenue, USD Million, 2012 - 2020)
• Food and Beverages
Global In-Line Process Viscometer Regional Outlook (Revenue, USD Million, 2012 - 2020)
• North America
• Asia Pacific
• Middle East & Africa
Browse Press Release of In-Line Process Viscometer (ILPV) Market: http://www.grandviewresearch.com/press-release/global-in-line-process-viscometer-ilpv-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For more information, visit http://www.grandviewresearch.com/
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Source:Grand View Research