Global Refractometers Market Size, Share, Opportunities, And Trends By Type (Handheld Refractometer, Abbe Refractometer, Digital Refractometer, Inline Process Refractometer), By Form (Portable, Benchtop), By Industry Vertical (Pharmaceutical, Agriculture, Food And Beverage, Oil And Gas), And By Geography - Forecasts From 2024 To 2029

The global refractometer market is poised for steady growth and will reach US$300.241 million in 2029 from US$230.491 million in 2024 at a 5.43% (CAGR).

Refractometers are laboratory tools that measure the concentration and purity of ingredients in gases, liquids, or translucid solids. They can analyze the composition of many samples, which makes them useful in various industrial applications, such as agriculture, oil and gas, chemicals, food and beverage, and pharmaceuticals.

The bolstering growth in such major end-users, followed by technological innovations for determining the purity of liquid or gaseous compositions, is anticipated to drive the demand for refractomers. Moreover, various strategic maneuvers undertaken by the market players, such as product developments, mergers, launches, and collaboration, have further led to an upward market trajectory.  

Global Refractometers Market Drivers:

• Growing applicability in the oil & gas sector is expected to bolster the overall market expansion.

Refractomer, owing to its ability to measure varied concentrations of liquids, finds high applicability in major sectors such as oil & gas. Here, the tool analyzes lubricants, de-icing agents, tensides, anti-freeze agents, fuels, gear oils, and wax, among others. The level of usage of such substances is determined based on their degree of purity. With the booming fuel demand from transportation, power & energy, and the manufacturing sector, the degree of purity would play an integral role, thereby driving the usage of refractometers in the oil & gas sector.

Moreover, the favorable investment in new oil refineries and undertaking new exploration projects both on-shore & off-shore is further expected to drive the demand and usage of refractometers in the sector. As per the April 2023 press release by Bp p.l.c, the oil company started oil production at its Argos off-shore platform, its fifth establishment in the US Gulf of Mexico. With a total production capacity of 1,40,000 barrels per day, the platform would enhance BP’s production capacity by 20% in the Gulf of Mexico.

• Bolstering growth in the pharmaceutical & chemical sector is anticipated to expand the market.

Due to their ability to measure water and the refractive index of liquid as per the moisture content, refractometers are finding their way into major sectors such as chemicals to validate the material purity, concentration, and mixture end points of specialty liquids. With the growing demand for specialty and basic chemicals from other end-users, the overall chemical production in major nations is witnessing significant growth. For instance, according to Invest India, till August 2023, production of organic chemicals witnessed a 4.52% increase over the previous period. As per the same source, chemical exports accounted for 10.8% of India’s total exports for 2022-2023 (Up to September 2022).

Besides the chemical sector, pharmaceuticals are major industry verticals where refractometers find high applicability. It is used to determine the purity and concentration of materials used in medication. The growing innovations in the field of medicine have led to new developments. With the global disease prevalence, the demand for advanced medication has increased, thereby enhancing the overall production output. For instance, according to the European Federation of Pharmaceutical Industries and Association, in 2022, Europe’s pharmaceutical production witnessed a 4.95% increase in comparison to 2021.

• Portable will account for a considerable market share.

The global refractometer market is divided into portable and benchtop models. The former is anticipated to hold a considerable market share due to its high field testing applicability. As easy-to-use tools, they offer cost and time utility in testing activities, owing to which they find usage in the food & beverage and oil & gas sectors.

Global Refractometers Market Geographical Outlook

• North America will hold a remarkable market share.

Geography-wise, the global refractometer market is analyzed into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. North America is anticipated to account for a considerable market share fuelled by the bolstering growth in major end-users such as pharmaceutical, chemical, and food & beverage in major regional economies, namely USA and Canada.

For instance, according to the European Federation of Pharmaceutical Industries Association, in 2022, North America accounted for 52.3% of global pharmaceutical sales. As per the same source, from 2017 to 2022, 64.4% of sales of new medicines occurred in the United States.

Likewise, the United States is a major chemical and petrochemical manufacturing nation. Owing to the booming demand, the overall productivity of this sector has witnessed positive growth, which is further expected to drive market demand for refractometers. According to the U.S Energy Information Administration, in Q1 of 2024, crude oil production stood at 12.96 million barrels/per day, which signified a 2.6% increase in production scale over Q1 of 2023.

Global Refractometers Market Key Developments

• In December 2023, AMETEK Inc’s subsidiary Reichert Technologies announced the launch of its universal digital refractometer product “Refractix™,” which is portable and can be used as a laboratory-quality benchtop. The newly launched product had set benchmarks in terms of refractive index measurement and custom measurement scale in various sectors such as food & beverage, pharmaceutical, and chemical.  It has also expanded AMETEK’s market presence, aiming to provide a much-extended product portfolio.
• In February 2023, Vaisala launched a next-generation online refractometer platform, “PolarisTM”. It is designed to optimize the overall manufacturing process, product quality, resource usage, and productivity in various industrial sectors such as food and beverage, chemicals, and semiconductors.
• In February 2023, NIDEC Co. Ltd launched its AL-Scan M Optical Biometer and MV-1 Myopia Viewer Software, which assist in myopia management by predicting and monitoring its progression. Its 3D auto tracking provides quick measurements similar to an auto refractometer's.
• In October 2022, Essilor Instruments announced the launch of its auto-kerato refractometer product “AKR800NV”. This product offers features such as white-to-white measurement, retro-illumination imaging, and automatic peripheral keratometry. The new launch expanded Essilor’s ophthalmic product line. 

The Global Refractometers market is segmented and analyzed as follows:

• By Type
  • Handheld Refractometer
  • Abbe Refractometer
  • Digital Refractometer
  • Inline Process Refractometer
• By Form
  • Portable
  • Benchtop
• By Industry Verticals
  • Pharmaceutical
  • Agriculture
  • Food and Beverage
  • Oil and Gas
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Taiwan
    • Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key Benefits for the Stakeholder

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Processes

3. EXECUTIVE SUMMARY

3.1. Key Findings

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Analyst View

5. GLOBAL REFRACTOMETERS MARKET BY TYPE

5.1. Introduction

5.2. Handheld Refractometer 

5.3. Abbe Refractometer

5.4. Digital Refractometer

5.5. Inline Process Refractometer 

6. GLOBAL REFRACTOMETERS MARKET BY FORM

6.1. Introduction

6.2. Portable

6.3. Benchtop

7. GLOBAL REFRACTOMETERS MARKET BY INDUSTRY VERTICAL

7.1. Introduction

7.2. Pharmaceutical 

7.3. Agriculture 

7.4. Food and Beverage

7.5. Oil and Gas

8. GLOBAL REFRACTOMETERS MARKET BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. United States

8.2.2. Canada

8.2.3. Mexico

8.3. South America

8.3.1. Brazil

8.3.2. Argentina

8.3.3. Others

8.4. Europe

8.4.1. Germany

8.4.2. France

8.4.3. United Kingdom

8.4.4. Italy

8.4.5. Spain

8.4.6. Others

8.5. Middle East and Africa

8.5.1. Saudi Arabia

8.5.2. Israel

8.5.3. UAE

8.5.4. Others

8.6. Asia Pacific

8.6.1. China

8.6.2. Japan

8.6.3. South Korea

8.6.4. India

8.6.5. Indonesia

8.6.6. Taiwan

8.6.7. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

10.1. Topcon Corporation

10.2. Nidek Co.Ltd.

10.3. Hill-Rom Services, Inc.

10.4. A. KRÜSS Optronic GmbH

10.5. Schmidt+Haensch GmbH & Co.

10.6. Xylem Analytics

10.7. Rudolph Research Analytical

10.8. Hanna Instruments, Inc.

10.9. AMTEK

Topcon Corporation

Nidek Co.Ltd.

Hill-Rom Services, Inc.

A. KRÜSS Optronic GmbH

Schmidt+Haensch GmbH & Co.

Xylem Analytics

Rudolph Research Analytical

Hanna Instruments, Inc.

AMTEK