According to a new market research report published by Transparency Market Research titled ‘Industrial Density and Viscosity Measurement Products Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027,’ the global industrial density and viscosity measurement products market is projected to expand at a CAGR of 6.1% during the forecast period. According to the report, the global market would continue to be influenced by a range of macroeconomic and market-specific factors, such as increasing technological advancements in density and viscosity measuring products, changing adverse and critical atmospheric conditions in liquid-manufacturing plants, and rising need for automated devices in process industries.
Advantages offered by industrial density and viscosity measurement products and increasing production and usage of lightweight laser designators are expected to boost the global industrial density and viscosity measurement products market in the next few years.
Europe market to witness prominent growth, followed by North America
In terms of revenue, Europe accounted for a significant share of the global industrial density and viscosity measurement products market in 2018. Europe witnesses presence of a large number of chemical industries. For over 100 years, Europe has been the world’s leading manufacturer and exporter of chemicals. However, recently, this position is challenged by Asia. According to the latest chemicals trends report published by European Chemical Industry Council (Cefic), production in most chemicals sub-sectors has risen, with paints & coatings and consumer chemicals sub-sectors registering 6% of the growth rate. Demand for specialty chemicals has increased by 2.7% year-on-year.
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Advantages associated with industrial density and viscosity measurement products include that they can estimate density as well as viscosity of fluids at real time. This helps in maintaining the end-use fluid quality in industries and considerably reducing related inefficiencies of fluids and liquids through automation of analysis and control. Increasing usage of density meters and viscosity meters in petroleum, chemical, pharmaceutical, and food & beverages industries is also driving the global industrial density and viscosity measurement products market. Players operating in the food & beverages industry are also using these products to deliver high-quality food products to their customers through correct measurement of viscosity and density of consumables.