In-line Process Viscometer Market Size, Share & Trends Analysis Report By Technology (Vibration, Torsional Oscillation, Acoustic Wave), By Industry (Petroleum, Chemicals, Pharmaceuticals), By Region, And Segment Forecasts, 2023 - 2030

In-line Process Viscometer Market Size, Share & Trends Analysis Report By Technology (Vibration, Torsional Oscillation, Acoustic Wave), By Industry (Petroleum, Chemicals, Pharmaceuticals), By Region, And Segment Forecasts, 2023 - 2030

In-line Process Viscometer Market Growth & Trends

The global in-line process viscometer market is expected to reach USD 327.2 million by 2030, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 6.4% from 2023 to 2030. 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 22.22% of total market revenue in 2022. 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 7.2% from 2023 to 2030. Acoustic wave technology is widely used for oil conditioning based monitoring needs which have helped in developing its market particularly in oil & gas industry.

In-Line Process Viscometer Market Report Highlights

• Petroleum dominated the global application market for ILPV and accounted for 38.70% of total market revenue in 2022. Increasing refining capacity, particularly in the Middle East and Asia Pacific is expected to drive the ILPV demand in petroleum applications.
• Asia Pacific continued its dominance in the global market and accounted for 37.50% of total market revenue in 2022. It is also expected to be the fastest growing regional market, at an estimated CAGR of 7% from 2023 to 2030. 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.

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