15-July-2019: The global flow chemistry
market size is projected to be valued at USD 2.39 billion
by 2025, according to a new report by Grand View Research, Inc. It is projected
to register a CAGR of 10.0% during the forecast period. Lower operating costs
of the technology coupled with eco-friendliness is projected to boost the
growth.
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.
In
depth research report on Flow Chemistry Market
Further key findings from the report suggest:
·
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 11.3%
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
21.0% 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.
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,
2015 - 2025)
·
Pharmaceuticals
·
Chemicals
·
Academia & Research
·
Petrochemicals
·
Others
Flow Chemistry ReactorTypeOutlook (Revenue, USD Billion, 2015
- 2025)
·
CSTR
·
Plug Flow Reactor
·
Microreactor
·
Microwave Systems
·
Others
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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, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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