Global Density Meter Market
Global Density Meter Market Size, Share, Growth, Trends, Opportunities and Forecast to 2026
According to Verified Market Research, the Global Density Meter Market was valued at USD 848.8 Million in 2018 and is projected to reach USD 1.17 Billion by 2026, growing at a CAGR of 4.21% from 2019 to 2026.
Density meters also known as a densimeter are defined as the analytical measuring instruments that are used to determine the density of liquids or gases. These devices have applications in different industry verticals such as oil & gas, chemicals, healthcare, food & beverages, pulp and paper, metals and mining, cosmetics, textiles, water and wastewater, and semiconductor industries. Density measurements are defined as mass per volume and are an important quality control parameter as the calculations are indicative of purity, consistency, and/or concentration of substances used in both industry and research.
The applicability of density meter has a wide scope wherein quality assurance and testing are key roles performed by the device. In the Oil and Gas industry, density meters are utilized in down streaming processes, wherein purification and assessment of the purified sample are measured before manufacturing. The increasing usage of Oil and gas as a fuel due to industrialization is thus bound to generate a higher demand for density meters in the market.
With the expansion in industrialization and an increase in the demand for energy resources, the Oil and Gas industry is expanding simultaneously. However, for maintaining uniformity and quality throughout the crude material, the process industries rely majorly on technical equipment, wherein density meter plays a significant role. The transition will enforce the Oil and Gas production sectors to accelerate the production rate causing the requirement of machinery and testing equipment to increase, resulting in a higher demand for density meters. This, in turn, boosts the growth of the market.
Another factor fueling the growth of density meter is stringent regulations with regard to food quality & safety. The regulations and product safety testing are critical factors to be cleared by Food and Beverage manufacturers. The scenario creates a high demand for density meter as a testing and quality check equipment for the food and beverage industry.
However, a tradeoff between the accuracy and cost of the density meter equipment becomes a potential restraint that blocks access for small/medium-sized industries and startups.
The market for water and wastewater treatment is expected to grow at the highest CAGR followed by Chemicals over the forecast period. The key applications of density meter in this sector are to determine the turbidity, determine the concentration of neutralizers like lime milk and repeated check of the concentration of water during the process. The demand for density meter is increasing in this industry due to the limited availability of drinking water, increasing industrial wastewater, and smart water management. The removal of sludge from the water with the help of density meter has grown considerably.
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