Global Density Meter Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Density Meter Market Analysis

The Global Density Meter Market is expected to register a CAGR of 4.25% during the forecast period 2022 to 2027. The growth of the density meter market can be attributed to smart factories' development and the increased demand to accurately measure the density of the fluids used in or during various production processes. Also, the stringent government regulations in the United States and European countries to regulate emissions drive market growth.

• A comprehensive quality assurance covering the entire production process is essential in any industrial operation. Density measurements are commonly used for this purpose, especially in the chemical, pharmaceutical, petrochemical, and food & beverage industries. They allow the manufacturer to analyze raw materials, semi-finished and finished products, and the manufacturing steps regarding several factors.
• For instance, In Chemical plants, density is used for a large variety of reasons for the common bulk chemicals and the specialty and proprietary products. Acids, caustics, solvents, resins, slurries, polymers, elastomers, and more are measured using a density meter. Pure chemicals and solutions are also measured.
• Also, rapid industrialization, in line with the technological advancement in water treatment technology, plays an essential role in the demand for liquid density meters. High growth and innovation in the water and wastewater industry create the need for a simple laboratory device to maintain and operate. Because of this, the demand for ultrasonic liquid density meters increased significantly. Further, growing applications of density meters in the plastics and rubber industry create growth opportunities.
• The COVID-19 pandemic and associated lockdown restrictions worldwide affected the industrial activities that witnessed a disruption in manufacturing operations and supply chains around the world. Under these circumstances, multiple industries worldwide saw a massive decline in revenue and profits, leading to many employees and workers being laid off, resulting in an overall loss to industrial production activities. However, with the onset of COVID-19 multiple end-user industries in the market studied have been affected by reduced operations, temporary factory closures, etc.

Density Meter Industry Segments

The Global Density Meter market is segmented by Type (Benchtop, Module, Portable), by Application (Coriolis, Nuclear, Ultrasonic, Microwave, Gravitic), by End-user Industry (Water & Wastewater, Chemicals, Mining & Metal Processing, Food & Beverage, Healthcare & Pharmaceutical, Electronics, Oil & Gas), and by Geography. Density meters are analytical measuring instruments used to determine the density of liquids or gases. It is also known as a densimeter. Density measurements are defined as mass per volume. They are an essential quality control parameter as the calculations indicate purity, consistency, and concentration of substances used in industry and research. The applicability of the density meter has a broad scope wherein quality assurance and testing are critical roles performed by the device.

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Density Meter Market Trends

This section covers the major market trends shaping the Density Meter Market according to our research experts:

Oil and Gas Industry to Hold Significant Market Share

• Oil and gas is a wide-ranging industry encompassing many processes and applications. Some of these might be roughly grouped into basic categories: exploration, extraction, production, processing, distribution, and transportation. Most applications include monitoring the density of oil and gases being transported for various purposes.
• The oil and gas sector is one of the largest end-users of density meters. In the Oil and Gas industry, density meters are utilized in downstream processes, wherein purification and assessment of the purified sample are measured before manufacturing. Also, the dense meter is used in various application sectors such as tanker truck and railcars loading stations, product identification on multi-product pipelines, product quality control in the production process, and mass measurement in aircraft refueling applications, among others.
• The oil and gas industry is expanding with the growth of industrialization and a rise in the demand for energy resources. For instance, according to the International Energy Agency, the Asia-Pacific region was the highest importer and consumer of natural gas. China alone accounted for two-thirds of the demand for natural gas globally.
• Moreover, the process industries depend majorly on technical equipment to maintain uniformity and quality throughout the crude material, wherein the density meter plays an important role. The transition would force the oil and gas production sector to accelerate the production rate, leading to an increased demand for machinery and testing equipment, including density meters, thereby driving the market's growth.
• The oil and gas sector is one of the key end users of density meters. The primary market demand comes from the downstream sector of oil and gas. The purity of the sample is measured before manufacturing to ensure operational safety and efficiency in downstream facilities, such as plants and refineries.
• The market is witnessing multiple product innovations. In May 2022, Flexim launched FLUXUS H831. This explosion-proof and non-intrusive meter can determine operational density, density at base conditions, and many other variables in the oil and gas industry.

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