Dublin, June 23, 2021 (GLOBE NEWSWIRE) -- The "Mass Flow Controller Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The global mass flow controller market is expected to grow at a compound annual growth rate of 4.73% over the forecast period to reach a market size of US$1,541.99 million in 2026 from US$1,115.395 million in 2019.
The major factors which are driving the growth of the mass flow controller market are the increasing demand for mass flow controllers in semiconductor industry, rising requirement for smart flow meters in chemical and water & wastewater industries, and the growing demand for mass flow controller in fuel cell for renewable energy applications.
The growing use of mass flow controller through end-user industry such as oil and gas, chemicals, water and wastewater treatment has led to an increase in the market's demand. Rising usage of mass flow controller in several industry, along with robust economic growth in developing economics are also creating numerous growth opportunities for the growth of the mass flow controllers in the global market.
Moreover, the rising opportunities in pharmaceutical and medical equipment and growing need for mass flow controller for space application are further propelling the growth of the market during the forecast period. However, the high initial cost, physical limitation of mass flow controller, and variation in differential pressure creates offset in flow management are expected to restrain the growth of the market.
Key Developments.
March 2021 - AkzoNobel launches TRINAR TC: The latest innovation in PVDF coil coating technology. Tailored to the coil coating market, TRINAR TC is formulated from AkzoNobel's latest proprietary resin and pigment formulation technology to strengthen product performance and hardness, providing increased resistance to abrasions and scratches during and after transport, fabrication and installation.
February 2021 - AkzoNobel launches CERAM-A-STAR 1050 Select Standard Color Program. AkzoNobel has launched CERAM-A-STAR 1050 Select, the leading coil coating technology with a standard color palette program to optimize your business and make color complexity a thing of the past.
August 2020 - JSW Steel looks to raise share in domestic coil-coating segment, launches JSW Radiance
Growth Factors: Increasing use in pharmaceutical industry
With the rapid spread of the coronavirus, the healthcare and pharmaceutical industries are posed to fight one of the fastest-spreading health crises of the world. There is a rise in the production of all critical medical devices required to cure COVID-19 patients. Mass flow controllers play an essential role in the quality control of different types of medical devices, and several key industry players have grabbed the opportunity to fight against the deadly coronavirus pandemic.
For instance, RedySmart mass flow controllers of Sierra Instruments provide critical gas flow control systems for bioreactors to scale vaccines from lab to pilot to full-scale production. Furthermore, the enhanced focus on the Industrial Internet Of Things (IIoT), smart factory, and industrial automation in the post-COVID-19 period will drive the demand for controller technologies and sophisticated process technologies, such as flow metering and control.
Impact of COVID-19
The COVID - 19 pandemic is expected to have a negative effect on the growth of the mass flow controller market as production across industries has been limited due to the pandemic which is further expected to cause shortage of raw material, decline in exports, and disruptions in the supply chain which may act as major factors contributing to the decline in the production.
Most of the revenue generated in the mass flow controller market is from the pharmaceuticals, medical devices, and food & beverage industries. As the mass flow controllers are directly proportional to manufacturing activities, the mass flow controller market is expected to get negatively affected by COVID-19.
Competitive Insights
Prominent/major key market players in the global mass flow controller market Brooks Instruments, Burkert, Horiba, Ltd and Parker Hannifin Corporation among others.
The players in the global mass flow controller market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years.
The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the global mass flow controller market.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global Mass Flow Controller Market Analysis, By Material
5.1. Introduction
5.2. Stainless Steel
5.3. Alloy
5.4. Others
6. Global Mass Flow Controller Market Analysis, By Flow Rate
6.1. Introduction
6.2. Low Flow Rate
6.3. Medium Flow Rate
6.4. High Flow Rate
7. Global Mass Flow Controller Market Analysis, By Industry Vertical
7.1. Introduction
7.2. Oil & Gas
7.3. Chemical
7.4. Semiconductor
7.5. Metallurgy
7.6. Healthcare
7.7. Food & Beverages
7.8. Others
8. Global Mass Flow Controller Market Analysis, By Geography
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. Brooks Instruments
10.2. Burkert
10.3. Horiba, Ltd
10.4. Parker Hannifin Corporation
10.5. Alicat Scientific, Inc.
10.6. Omega by Spectris
10.7. Teledyne Hastings Instruments
10.8. Sierra Instruments
10.9. MKS Instruments, Inc.
10.10. Azbil Corporation
For more information about this report visit https://www.researchandmarkets.com/r/ajhmpg