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.
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.
Access
Research Report of Flow Chemistry Market@ www.grandviewresearch.com/industry-analysis/flow-chemistry-market
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.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
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.
Access
Press Release of Flow Chemistry Market@: www.grandviewresearch.com/press-release/global-flow-chemistry-market
About Grand View Research
Grand
View Research, Inc. is a U.S. based Neurorehabilitation Devices Automated
Dispensing Machine 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
Neurorehabilitation Devices Automated Dispensing Machine 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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More Information: www.grandviewresearch.com
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