Flow Chemistry Market slated to witness exponential growth by 2024
Date: 2018-09-03   Author: Ronak Bora  Category: #industry

According to a new research report by the market research and strategy consulting firm, Global Market Insights, Inc, Flow Chemistry Market is expected to exceed USD 23.2 billion by 204. The global flow chemistry market is projected to be driven by the rising popularity of process over batch reactors. It involves lower installation costs, lessened capital & maintenance costs, lower energy usage & operating costs, efficient mixing of reactants, and high scalability, improved reaction control as well as high mass and heat transfer. All these aforementioned process characters result in purified products of superior quality and yields with diminished energy consumption.

Growing flow chemistry equipment applications and technologies in laboratories for chemical organic synthesis will positively impact the market in the near future. The globally inclining focus towards sustainable manufacturing process in chemical and pharmaceutical industry will fuel market growth. Flow chemistry features chemical reactions, in view of both ecological and worker safety concerns.

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The biggest challenge confronted by the pharmaceutical and chemical industries involves concerns regarding technology scale up for commercialization. Scaling up for commercialization is likely to necessitate extensive new investments especially for labs and adaptable equipment. Also, the microreactor systems do not hold compatibility to support massive manufacturing units involving multipart structure. This might be a restraint to the market growth by 2024.

However, several emerging industry applications in bio-diesel manufacturing process will positively impact the business growth by 2024. The contributing factors being minimum raw material consumption, lower carbon emissions and high effectiveness involved in flow chemistry.

Microreactor system flow chemistry will witness highest gains over 15% CAGR by 2024. The growth is attributed to their compatibility for small scale usage like academic and industrial research. These systems hold characteristics such as efficient heat transfer and superior mass, leading to effective control of the heat evolved during the chemical reaction. However, the industry has been undergoing consistent technological advancements, which makes these systems highly looked-for across large scale applications as they need less energy. This is likely to boost the market growth by 2024.

Continuous stirred tank reactor (CSTR) segment is estimated to witness substantial growth in the forecast period. The significant savings offered by the product results in cost and area savings along with high production compared to batch reactors. CSTR will have high demand from the chemical and petrochemical industries in coming years, for their low energy & material consumption requirements.

The pharmaceutical is predicted to be the fastest growing application segment by 2024. The growth is attributed to the high yield with lower operational cost and high safety measures involved in the product

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North America flow chemistry market is projected to have gains more than 9% CAGR by 2024. Robust regional pharmaceutical industry and extensive natural gas and petrochemical feedstock will boost regional growth.

Asia Pacific region bears brighter growth aspects in the forecast period, owing to the strong prevalence of chemical manufacturers in India and China. The drifting focus among the global manufacturers, for setting up manufacturing facilities in Asia Pacific, due to small initial investments in the region and favourable government regulations, will further drive regional industry by 2024.

Key industry players include Vapourtec Ltd., ThalesNano Inc., Uniqsis Ltd., ThalesNano Inc., Milestone Srl, FutureChemistry Holding BV, AM Technology, Chemtrix BV and Koninklijke DSM N.V. Syrris Ltd. Flow chemistry market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2013 to 2024.

 



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Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

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