Growth in Pharmaceuticals and Chemical Industries to Create Opportunities for Asia Pacific Process Instrumentation Market Growth During Forecast Period

According to our latest study on "Asia Pacific Process Instrumentation Market Size and Forecast (2021-2031), Global and Regional Share, Trends, and Growth Opportunity Analysis - by Technology, Flow Meter, Level Meter, and End-user Industry," the Asia Pacific process instrumentation market was valued at US$ 5.91 billion in 2023 and is expected to reach US$ 9.35 billion by 2031; it is estimated to record a CAGR of 5.9% from 2023 to 2031. The report includes growth prospects in light of current Asia Pacific process instrumentation market trends and driving factors influencing the market growth.

Pharmaceuticals and chemical industries have a high requirement for rigorous quality control and precise monitoring, which can be provided by process instrumentation. Singapore was the largest exporter of chemicals in 2022, ranked by the World Trade Statistical Review. With the increased export of chemicals, the use of various equipment has also increased. In the chemical industry, temperature, pressure, flow rate, level, composition, and pH are among the major process variables measured and controlled using a variety of equipment and sensors. The major goal of chemical process instrumentation is to ensure the safe, efficient, and dependable functioning of chemical processes. Moreover, the pharmaceutical industry in Thailand is Southeast Asia's second-largest pharmaceutical market after Indonesia. According to the International Trade Administration (ITA), the pharmaceutical market in Thailand was valued at approximately US$ 6.4 billion in 2021. Further, pharmaceutical production uses monitoring techniques such as differential pressure, level measurement, pressure monitoring, and point level detection to ensure efficient filtration, prevent clogging, maintain consistent flow rates, and avoid overfilling or underfilling storage tanks. These procedures are critical for ensuring the quality and safety of pharmaceutical products. Thus, the expansion of the pharmaceutical and chemical industries is anticipated to create lucrative opportunities for the Asia Pacific process instrumentation market growth during the forecast period.

The Asia Pacific process instrumentation market is segmented into Singapore, Thailand, the Philippines, Vietnam, and the Rest of Asia Pacific. The Rest of Asia Pacific holds the largest Asia Pacific process instrumentation market share in 2023. Companies are taking the initiative to expand their businesses by investing in new technologies and collaborating with different organizations. For instance, in June 2023, Texas Instruments Incorporated revealed its plan to enhance its internal manufacturing presence in Malaysia through the establishment of two new assembly and test facilities in Kuala Lumpur and Melaka. These forthcoming investments are part of TI's strategy to internalize 90% of its assembly and test operations by 2030, enabling the company to exert greater control over its supply chain. This development highlights TI's commitment to optimizing its manufacturing capabilities. It aligns with the evolving process instrumentation market in Malaysia, reflecting the growing demand for advanced manufacturing technologies and supply chain efficiency across the country.

In March 2024, B.Grimm Power (BGRIM) announced its plan to enhance its presence in the renewable energy industry by investing in Nakwol Wind and Hanbit Wind, two offshore wind power facilities in South Korea with a total installed capacity of 740 megawatts. This expansion supports B.Grimm Power's dedication to fostering cooperative development within the renewable energy sector in South Korea. Furthermore, it is in line with the group's extensive strategy to cultivate resilient and sustainable energy enterprises across Asia. Such initiatives are anticipated to bolster the process instrumentation market in the Rest of Asia Pacific in the coming years.

Based on technology, the Asia Pacific process instrumentation market is segmented into flow meter, pressure and temperature instrument, analytical instrument, and level meter. The level segment held the largest Asia Pacific process instrumentation market share in 2023. A level meter is an essential instrument utilized to gauge the level of a substance, whether it is a liquid or solid, within tanks, reactors, or vessels. This measurement is critical for ensuring the safety and profitability of industrial processes, providing valuable insights into the material's quantity and its impact on various applications within industries such as bulk material handling and chemical processing. Accurate measurement of material levels is vital for maintaining proper fluid levels in equipment, aiming to operate at normal liquid levels (NLL). Level sensors provide signals to pump control units and control valves, enabling necessary actions to maintain liquid levels at the desired levels. Additionally, level switches send signals when levels go above high liquid level (HLL) or below low liquid level (LLL), contributing to overall process control and safety.

Asia Pacific Process Instrumentation Market Report Segmentation and Scope:

The "Asia Pacific process instrumentation market analysis" has been carried out by considering the following segments: technology, flow meter, level meter, end-user industry, and geography. Based on technology, the market is segmented into flow meter, pressure and temperature instrument, analytical instrument, and level meter. Based on flow meter, the market is segmented into mass flow, EMF, vortex, ultrasonic, and others. Based on level meter, the market is divided into high frequency radar, TDR, and others. Based on end-user industry, the market is segmented into oil & gas, energy & power, water & wastewater, food & beverages, marine, petrochemical, chemical, and others. Based on geography, the Asia Pacific process instrumentation market is segmented into Singapore, Thailand, the Philippines, Vietnam, and the Rest of Asia Pacific.

ABB Ltd.; Emerson Electric Co.; Honeywell International Inc.; Brooks Instrument; Schneider Electric; Siemens; Yokogawa Electric Corporation; Endress+Hauser Group Services AG; Metso Corporation; and Fuji Electric Co, Ltd are among the prominent players profiled in the Asia Pacific process instrumentation market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem. The Asia Pacific process instrumentation market forecast can help stakeholders plan their growth strategies.

Asia Pacific Process Instrumentation Market Recent Developments:

Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the Asia Pacific process instrumentation market. As per the company press releases, below are a few recent key developments:

In 2024, Emerson launched the Rosemount 9195 Wedge Flow Meter, a fully integrated solution consisting of a wedge primary sensor element, supporting components, and a selectable Rosemount pressure transmitter. The new meter's unique flexible design is ideal for measuring process fluids with a wide range of demanding characteristics in various heavy industry applications, including metals & mining, oil & gas, renewable fuels, chemicals & petrochemicals, pulp & paper, and others.In 2023, Brooks Instrument opened a new manufacturing facility in Penang, Malaysia, significantly increasing its operational footprint in Asia Pacific for producing mass flow controllers (MFCs). The brand-new 57,000-square-foot plant follows the company's recent manufacturing expansion in Korea and is Brooks Instrument's fourth global production area. The other locations are in the US and Hungary.In 2022, Yokogawa Electric Corporation (TOKYO: 6841) announced the release on this date of the OpreX Vortex Flowmeter VY Series. These flowmeters comply with major explosion-proof standards (IECEx, ATEX, FM, FMc) and are SIL2 certified. The new product series, which is part of the OpreX Field Instruments family, will be released first in Southeast Asia, Oceania, India, the Middle East, and South America, excluding Brazil.

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