Flow Chemistry Market Expected to Reach $1.5B in 2020
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The market for flow chemistry is primarily driven by factors such as increasing need to lower operating costs and adoption of sustainable technologies by chemical and pharmaceutical manufacturers. Flow chemistry offers various advantages over traditional batch processes. These include significant savings in energy usage, high scalability and continuous processing with high reactor throughput and superior heat and mass transfer. Flow chemistry also offers eco-friendly, low emission and a safe production process, thereby supporting green manufacturing.
Continuous stirred tank reactor (CSTR) dominated the flow chemistry market in 2013. However, microreactor systems is anticipated to be the fastest growing segment during the forecast period. Chemical was the largest end-user segment in the flow chemistry market in 2013. Pharmaceutical is estimated to be the most lucrative end-user for flow chemistry in the next few years. However, scaling-up issues coupled with the need to conform to governmental regulations in the pharmaceutical industry are likely to hamper market growth in the near future.
Continuous stirred tank reactor accounted for over 40% of the global flow chemistry market in 2013. Plug flow reactor followed continuous stirred tank reactor. However, microreactor systems is expected to be the fastest growing product segment in the flow chemistry market during the forecast period. Other flow chemistry equipment, including microwave systems, is projected to boost market growth in the next few years, due to rising demand for flow chemistry in chemical and petrochemical industries.
The chemical segment dominated the end-user segment, constituting around 35% of the global demand for flow chemistry in 2013. Flow chemistry can be used to carry out various reactions such as nitration and bromination. Pharmaceutical accounted for the second-largest market share in the global flow chemistry market in 2013. It is also anticipated to be the fastest growing end-user segment for flow chemistry during the forecast period. Flow chemistry is used in the manufacture of APIs in the pharmaceutical industry. Petrochemical and academic & industrial research are also considered major end-users in the global flow chemistry market. Other end-users such as polymers and nanostructured materials are expected to offer higher opportunities for flow chemistry during the forecast period.
North America has been dominating the demand for flow chemistry over the past few years. The region accounted for over 35% of the global demand for flow chemistry in 2013. Rising demand for flow chemistry in the pharmaceutical industry has been a key factor for the growth of the flow chemistry industry in North America. Asia Pacific followed North America, accounting for the second-largest share in the global flow chemistry market in 2013. Increasing demand for flow chemistry in chemical and pharmaceutical applications is driving the demand for flow chemistry in Asia Pacific. Europe is likely to experience stable growth for flow chemistry in the near future. Market share of Rest of the World is projected to increase in the flow chemistry market in the next few years, led by high demand for flow chemistry in Brazil and Saudi Arabia.
The full Flow Chemistry (Microreactor Systems, Continuous Stirred Tank Reactor, Plug Flow Reactor and Other Products) Market for Pharmaceutical, Chemical, Academic & Industrial Research, Petrochemical and Other End-user Industries - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020 report can be browsed below.
