According to a report published by Grand View Research, Inc.; the global flow chemistry market is anticipated to reach a valuation of around USD 2.39 billion by 2024. High adoption in chemicals and pharmaceutical industries, growing focus on safety and cost effectiveness, and strict environmental regulations can propel the market over the forecast period (2014 to 2025). Several regulatory bodies like the European Commission and the U.S. Food and Drug Administration (FDA) are supporting the practice of flow chemistry for manufacturing chemicals and active pharmaceutical ingredients (APIs).
Increasing adoption of flow cytometry in pharmaceuticals is considered as the major driving factor for global market during the forecast period. The technology is environment-friendly and possesses superior properties compared to batch production processes. Flow chemistry is used in laboratory scale applications due to its high safety level during gas-based reactions. Its advantageous properties such as reduced reaction steps, low maintenance, and controlled environment can boost the adoption. Apart from that, high usage of gas-based flow chemistry technology is expected to create positive outlook for the market over the forecast period.
Browse In-depth Insights: www.grandviewresearch.com/industry-analysis/flow-chemistry-market
Flow chemistry is used along with photochemistry, microwave irradiation, electrochemistry, inductive heating, and 3D printing technologies to accomplish fully automated process with sustainability and high efficiency. Currently, 3D printing technology is used to produce reaction ware instruments for flow chemistry. It is helping to reduce manufacturing cost and improve the equipment strength. However, requirement of high investment to conduct research and development (R&D) activities may restrain the market growth over the forecast period.
The worldwide flow chemistry market can be segmented on the basis of application, reactor, and regions. Based on application, the market can be divided into academia and research, pharmaceuticals, chemicals, petrochemicals, and others. Petrochemicals may witness a CAGR of over 9% during the forecast period. This growth can be attributed to the highly favorable conditions for polyethylene and ethylene production in North America.
As per reactor, the market can be categorized into continuous stirred-tank reactor (CSTR), microwave system, microreactor, plug flow reactor, and others. The CSTR segment is likely to progress at a CAGR of over 8% from 2015 to 2025. High adoption of these reactors is attributed to their compatibility with liquid, gas, and solid-liquid reaction phases.
Geographically, the market for flow chemistry can be divided into North America, Europe, Asia Pacific, Central and South America, and Middle East and Africa. In 2015, North America accounted for the largest market share of around 36.8% in terms of revenue. This growth can be accredited to rapid technological advancements and the presence of a strong chemical manufacturing infrastructure. Additionally, high investments in petrochemical manufacturing is also anticipated to boost the regiona market during the forecast period.
In 2016, Europe held over 22.1% of total market share in terms of revenue. It is one of the fastest growing regions and has been witnessing augmented demand for flow reactors from chemical industry. The regional growth can be attributed to the rise in pharmaceutical manufacturing research and development activities in the UK, France, Switzerland, and Germany.
Asia Pacific, on the other hand, is likely to witness a CAGR of over 11% from 2016 to 2025. This growth can be attributed to the growing investment in chemical and pharmaceutical manufacturing in the region. Increasing preference for green and energy-efficient technology is expected to propel the utilization of flow reactors in the region. The pharmaceutical market is likely to showcase substantial growth in countries such as China, India, Vietnam, Sri Lanka, Bangladesh, and Myanmar. All these factors may further impel the regional market for flow chemistry.
In 2015, Middle East and Africa (MEA) held the lowest market share in terms of revenue. The petrochemical industry is anticipated to exhibit rapid growth over the forecast period due to the existence of key manufacturers. The region is one of the major exporter of petrochemicals to Europe and. This may create business opportunities in the forthcoming years.
Major players operating in the flow chemistry market include ThalesNano Inc.; PDC Machines Inc.; Saida FDS Inc.; Little thing factory GmbH; and Vapourtec Ltd. Most companies are making high investment in R&D to discover instruments that can help to optimize production process and improve the efficiency. Increasing demand for specialty chemicals across the world has also helped manufacturers to form associations with end-users. Market participants are also tying up with educational institutions to take advantage from their inhouse R&D facilities to develop advanced technologies.
Browse Press Release of this Report: www.grandviewresearch.com/industry-analysis/flow-chemistry-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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