The global flow chemicals market was estimated to account for US$ 3341.3 Mn in terms of value by the end of 2030.
Drivers
Low emissions and safety-profiled production process of flow chemistry is primarily fueling the market growth. The growing need for more sustainable and eco-friendly production processes is also contributing to the market growth of flow chemistry. Moreover, flow chemistry reduces the waste generated in chemicals reaction during the manufacturing process, thus addressing both environmental and safety issues. For instance, in June 2021, Syrris Ltd, the Asia Flow Chemistry System, a new flow chemistry system, was introduced by a unit of the Black trace Holdings Group. The wide variety of chemical reactions in this system, including gas-liquid, liquid-liquid, and solid-liquid reactions, make it ideal for chemical synthesis. For ease of use and increased productivity, the system also has automation and remote control features.
Expansion of the chemical industry due to the increasing production and consumption of chemicals around the globe is projected to augment the market growth of flow chemistry.
Flow Chemistry Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2022 | Market Size in 2022: | US$ 1736 Mn |
Historical Data for: | 2020 to 2023 | Forecast Period: | 2023 to 2030 |
Forecast Period 2023 to 2030 CAGR: | 8.5% | 2030 Value Projection: | US$ 3341.3 Mn |
Geographies covered: |
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Segments covered: |
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Companies covered: |
AM Technology, Chemtrix BV, FutureChemistry Holdings BV, Koninklijke DSM N.V., Lonza Group Ltd., Milestone S.r.l, Syrris Ltd., ThalesNano inc., Uniqsis Ltd., and Vapourtec Ltd. |
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Growth Drivers: |
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Restraints & Challenges: |
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Market Restraints
The high cost of the R&D spending requirement and the high cost of Micro Reactor systems (MRT) is expected to restrict the adoption of such system. This factor is expected to hamper the market growth of flow chemistry. Limited adoption of this technology across developing regions is projected to hamper market growth. These systems are used in less number of companies.
Market Opportunities
Increasing demand for flow chemistry in the production of biodiesel
Market Trends/Key Takeaways
The growing popularity of micro reactors on account of rapid adoption across fine chemicals and pharmaceutical applications is expected to foster market growth. These reactors are compact and require less space and low capital investment. Moreover, they offer safe processing conditions for highly toxic reactions. This factor is stimulating the market growth of the flow chemistry over the foreseeable period.
Increasing use of flow chemistry for academic and educational purposes is a major trend in the market. Moreover, increasing utilization of the flow of chemistry technology in the polymer industry is another major trend in the market. All these factors are expected to support the market growth of flow chemistry in the near future.
Market segment
Figure 1. Global Flow Chemistry Market Analysis by region in 2022
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North America region dominated the global Flow Chemistry Market Analysis in 2022, accounting for 36.4% share in terms of value, followed by Asia Pacific and Europe, respectively.
Figure .2 Global Flow Chemistry Market Analysis by Product Type in 2022
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On the basis of product type in 2022, the continuous stirred tank reactor (CSTRE) has accounted the largest market share of 42.6% in terms of value, followed by plug flow reactor, microreacter system and others respectively.
Global Flow Chemistry Market Analysis- Impact of Coronavirus (Covid-19) Pandemic
Coronavirus is likely to have a large influence on the chemical industry. Because of the pandemic, the chemical industry is projected to see lower output and demand. Chemicals used in the pharmaceutical business, on the other hand, are predicted to climb due to increased demand for specialized chemicals such as salicylic acid, amino acid, and dicalcium phosphate, among others.
Key development
*Definition- Flow chemistry is a technology that involves chemical reactions run in a single flowing stream, not in batches. Flow chemistry is widely adopted across various end-user industries such as pharmaceuticals, chemicals, and petrochemicals. Flow chemistry is beneficial for the reaction that cannot be performed in a batch reactor.
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About Author
Vidyesh Swar
Vidyesh Swar is a seasoned Consultant with a diverse background in market research and business consulting. With over 6 years of experience, Vidyesh has established a strong reputation for his proficiency in market estimations, supplier landscape analysis, and market share assessments for tailored research solution. Using his deep industry knowledge and analytical skills, he provides valuable insights and strategic recommendations, enabling clients to make informed decisions and navigate complex business landscapes.
Flow Chemistry Market Report Snapshots
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