SAN FRANCISCO, Feb. 28, 2022 /PRNewswire/ -- The global flow chemistry market size is projected to be valued at USD 2.9 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 10.2% during the forecast period. Lower operating costs of the technology coupled with eco-friendliness is projected to boost the growth.
Key Insights & Findings from the report:
- Academia and research application held a market share of 12.45% in 2018 owing to growing use of renewable technologies for manufacturing along with affordable cost of flow chemistry.
- Asia Pacific is expected to witness the highest CAGR of 11.4% owing to growing adoption of affordable, energy saving, renewable technologies along with substantial investment from petrochemical industry.
- Microreactor is expected to register an astounding CAGR of 18.9% over the forecast period, due to the demand from pharmaceutical manufacturers owing to better selectivity, affordable production costs, and low waste generation by the product.
- Notable players operating in the flow chemistry market include Am Technology, CEM Corp., Biotage AB, Syrris Ltd, and Vapourtec Ltd. among others. Companies are strategizing to enhance their geographic presence by making in-roads in Asia Pacific, which is expected to have substantial potential.
Read 119-page market research report, "Flow Chemistry Market Size, Share & Trends Analysis Report By Reactor (CSTR, PFR, Microreactor), By Application (Pharmaceuticals, Chemicals, Petrochemicals), And Segment Forecasts, 2021 - 2028", published by Grand View Research.
Flow Chemistry Market Growth & Trends
Substantial reduction in waste generation along with elimination of non-renewable production methods are priorities from a global environment standpoint. Major economies are therefore introducing regulations with a view to minimize the damage to the environment. Numerous governments are introducing measures to achieve the targets set by the Paris Agreement under the United Nations Framework Convention on Climate Changes (UNFCCC), specifically to mitigate the emission of greenhouse gases.
Continuous Stirred Tank (CST) and Plug Flow (PF) are the most commonly adopted reactors in the flow chemistry market. CST reactor systems require limited human intervention to function thereby incurring low labor costs associated with its adoption. Additionally, both reactor technologies have a high output rate, resulting in low production costs.
Increasing adoption of microreactors in specialty chemical, fine chemical, and pharmaceutical manufacturing sectors has contributed substantially to controlling environment damage along with saving manufacturing costs. In the bulk chemicals manufacturing industry, microreactors are used to manufacture styrene, formaldehyde, Ethylene Oxide (EO), and Vinyl Acetate Monomer (VAM) among others.
Pharmaceutical industry is expected to witness maximum growth over the forecast period owing to the ease of continuous separation and crystallization technique offered by flow chemistry technology. Growing need for production cost control coupled with increasing competition in the Active Pharmaceutical Ingredients (API) manufacturing industry is projected to contribute significantly to the demand over the forecast period.
Flow Chemistry Market Segmentation
Grand View Research has segmented the global flow chemistry market on the basis of application, reactor type, and region:
Flow Chemistry Application Outlook (Revenue, USD Billion, 2017 - 2028)
- Pharmaceuticals
- Chemicals
- Academia & Research
- Petrochemicals
- Others
Flow Chemistry Reactor Type Outlook (Revenue, USD Billion, 2017 - 2028)
- CSTR
- Plug Flow Reactor
- Microreactor
- Microwave Systems
- Others
Flow Chemistry Regional Outlook (Revenue, USD Billion, 2017 - 2028)
- North America
- U.S.
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- Japan
- India
- Central & South America
- Brazil
- Middle East & Africa
List of Key Players of Flow Chemistry Market
- Am Technology
- CEM Corporation
- Milestone Srl
- Biotage AB
- Syrris Ltd.
- Vapourtec Ltd.
- ThalesNano Inc.
- Hel Group
- Uniqsis Ltd.
- Chemtrix BV
- Ehrfeld Mikrotechnik BTS
- Future Chemistry Holding BV
- Corning Incorporated
- Cambridge Reactor Design Ltd.
- PDC Machines Inc.
- Parr Instrument Company
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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