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) .
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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.
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.
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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.[RSJ3]
As per reactor, the market can be
categorized into continuous
stirred-tank reactor (CSTR)[RSJ4] , 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[RSJ5] .
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.
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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, 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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