The viscometer is an instrument used for measuring viscosity in fluids either when the fluid is stagnant, or the entity is stagnant. In-line process viscometers are widely used across various end-use industries such as petroleum, pharmaceuticals, foods and beverages and chemicals. Rapid increase in refining capacities on account growing energy need is expected to drive the global demand for ILPV. Use of in-line process viscometers helps in stabilizing the refining process; it is reliable and accurate during its performance. It takes approximately 4-12 hours to identify and rectify a problem arising due to the viscosity of a particular fuel. This can lead to damage costing around USD 1.5 million which can be reduced or minimized using ILPV. In addition, the cost of setting up an in-line process viscometer is only one-fourth to that of the cost incurred during breakdown maintenance.
Accurate control of fuel viscosity is considered to be a crucial component in the automotive industry, and in-line process viscometer controls fuel atomization, beneficial for efficient combustion and hence is gaining acceptance in automotive industry across the globe. It has real-time monitoring which helps the producers to keep a watch on product quality and meet the regulatory standards simultaneously. Product innovations and technological up gradation for various applications in refineries and in other niche applications have helped in consistently improve the quality of production, profitability, and productivity. However, lack of ability to measure multidirectional flow coupled with the repeated price wars is expected to remain key challenges for market participants. The growth of global food & beverages industry coupled with increasing healthcare expenditure particularly in emerging markets of Asia and Latin America is expected to fuel the demand for ILPV. Growing importance of taking parameters into consideration for controlling process and asphalt mixing is expected to provide novel opportunities to market participants.
Key technologies on the basis of which the global ILPV market is segmented include rotational, torsional oscillation vibration, moving the piston, Coriolis, dynamic fluid pressure, and acoustic wave. Vibration dominated the overall market and accounted for 22.3% of total market revenue in 2013. The acoustic wave is expected to be the fastest growing technology at an estimated CAGR of 7.3% from 2012 to 2020.
Petroleum emerged as the leading application segment for ILPV and accounted for 40% of total market revenue in 2013. Foods and beverage are expected to be the fastest growing segment at an estimated CAGR of 6.7% from 2012 to 2020. The growth of food and beverages industry particularly in BRICS nations is expected to fuel the demand for ILPV in this industry. The chemical market is estimated to grow at CAGR of 6.4% from 2012 to 2020.
Asia Pacific dominated the global ILPV market and accounted for 30.1% of total market revenue in 2013. Asia Pacific along with being the largest market is also expected to be the fastest growing regional market for ILPV at an estimated CAGR of 7% from 2014 to 2020. Growing energy demand coupled with the growth of chemical industry particularly in emerging markets of China and India is expected to fuel the demand for ILPV in this region. Asia Pacific was followed by North America and Europe which are expected to grow at a steady rate over the next several years.
The global ILPV market is highly fragmented as top four companies including Brookfield Engineering Laboratories Inc., Anton Paar, proRheo GmbH and Cambridge Viscosity accounted for less than 30% of global market in 2013. Other key players operating in the global market include Lamy Rheology, Brabender Gmbh & Co. Kg, Hydromotion, Marimex America Llc., Nametre (Galvanic Inc.), Vaf Instruments, Fuji Ultrasonic Engineering, Sofraser, Micro Motion (Emerson Process Management), Mat Mess- & Analysetechnik, Norcross, Endress+Hauser Consult AG, Lemis Baltic, Orb Instruments, Inc., Bartec, Atac, and Vectron International, Inc.
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