Future Market Insights (FMI) has recently published a report titled “Refractometers Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2027.” Refractometers are simple instruments used to determine the degree at which light changes its direction, which is known as the angle of refraction. Refractometers are used for measuring the concentration of aqueous solutions. They can also be used to measure the concentration of solid substances in different fluids or water.
When a light gets refracted through a fluid sample, refractometers can determine the speed of the refracted light and can analyse or report it using various scales. With the help of these values, refractometers can determine the concentration of solutions. In the refractometers market, most of the well-established and growing vendors are offering refractometers of several types, which include advanced features.
The global refractometers market is expected to grow at a CAGR of 8.9% during the forecast period. The refractometers market was valued at US$ 360.6 Mn in 2017, and is projected to grow significantly to reach US$ 836.7 Mn by 2027 due to the increasing adoption of laboratory equipment and the rising importance of maintaining the quality of food and water.
In this report, FMI has segmented the global refractometers market by product type, by the substance used, by end user and by region. By product type, the refractometers market is sub-segmented into handheld refractometers, digital refractometers and abbe refractometers. The abbe refractometers sub-segment of the global refractometers market is projected to register an 87.9% market share at the end of 2018. In addition, in terms of volume, the liquid substance sub-segment is also expected to register a CAGR of more than 9.7% during the forecast period.
Furthermore, due to the rising importance of food quality, the food processing sub-segment is estimated to register a high growth rate during the forecast period. Based on the substance used for measurement, the refractometers market is sub-segmented into solid, liquid and gas. Due to the increasing demand from research centers, the abbe refractometers sub-segment is expected to register a moderate CAGR of 8.9% during the forecast period. In the recent years, refractometers have gathered more interest as the demand for laboratory systems is increasing significantly in most of the developing and developed economies. It has been observed that an increasing number of laboratories and research institutions are becoming dependent upon the installation of refractometers for better laboratory management. Due to these factors, the abbe refractometers sub-segment is projected to create potential growth opportunities for the manufacturers of refractometers.
By end user, the global refractometers market is segmented into food processing, gemology, research centers, oil industry, paint, pharmaceuticals and educational research. In terms of value and volume, the food processing sub-segment is projected to create a CAGR of more than 9.5% during the forecast period. In addition, growth in the number of healthcare initiatives in BRICS countries, coupled with rising population, is expected to remain among the key factors expected to boost the market throughout the forecast period. Owing to these factors, the research centers sub-segment of the global refractometers market is projected to register a 19.3% market share at the end of 2018.
In addition, the report covers the trends driving all the segments and offers insights & analysis about the growth potential of the market in various regions, which include Latin America (Brazil, Mexico & the rest of Latin America), North America (U.S. & Canada), Europe (Germany, Italy, France, Spain, U.K. & the rest of Europe), Japan, APEJ (China, India, Malaysia, Australia, Singapore & the rest of APEJ) and MEA (GCC Countries, Israel, South Africa & the rest of MEA). The revenue contribution of APEJ is estimated to increase at a CAGR of 10.2% over the forecast period owing to constant innovations and increasing research activities in laboratories, which is fuelling the adoption of refractometers in this region.
As per FMI analysis, strategies such as product innovations, improvements in durability, quality testing with precision are expected to help increase revenue, which is likely to enable the vendors of refractometers to reach new growth markets. Mettler-Toledo International Inc. is one of the prominent vendors in the refractometers market. The company offers refractometers for different application areas such as industrial and experimental purposes. As per FMI analysis, Mettler-Toledo International Inc. is upgrading its existing products to enhance its customer base by providing an improved user experience. Some of the market participants featured in the global refractometers market report Thermo Fisher Scientific AMETEK; Shimadzu Corporation; Anton Paar GmbH; Cole-Parmer Instrument Company, LLC; KRüSS Optronic GmbH; Hanna Equipments India Pvt. Ltd.; ATAGO; Rudolph Research Analytical; MISCO Refractometer and Xylem Analytics.
A sample of this report is available upon request @ https://www.futuremarketinsights.com/reports/sample/rep-gb-1739