Press release
Flow Chemistry Market share to grow at 10% CAGR from 2016 to 2024
The technology research report “Flow Chemistry Market Size By Product (Microreactor Systems, Continuous Stirred Tank Reactor [CSTR], Plug Flow Reactor [PFR]), By End-user (Pharmaceutical, Chemical, Academic & Industrial Research, Petrochemical), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024”, by Global Market Insights, Inc. says Flow Chemistry Market size is set to exceed USD 2 billion by 2024; fuelled by rising flow chemistry demand owing to its low operating costs and sustainable characteristics.The overall flow chemistry market share is majorly propelled by numerous value added advantages offered by the process as compared to batch reactors. The process offers low capital and maintenance cost, minimum raw material requirement, which subsequently results in reduced operational cost. Furthermore, it also provides efficient & easy reactants mixing, superior heat & mass transfer along with enhanced reaction control. These process characteristics is analyzed to positively impact on the global industry growth over the estimated period.
Chemical manufacturing industries are highly regulated and directed by concerns towards fume emissions and worker safety, as these fumes are extremely toxic harmful for the environment and the workers. For example, most of the chemical manufacturing companies releases carbon gases, which are toxic and are the major pollution contributor. Adapting and accepting flow chemistry process and technology will help the chemical manufacturing companies to reduce these toxic gases and thereby will boost the global flow chemistry market size by 2024.
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Drifting focus towards environmental friendly processes in pharmaceutical and chemical manufacturing will substantially boost the overall flow chemistry market size over the projected timeframe. The process encompasses least heat exchange in comparison with traditional processes including batch, which consequently offers precise and efficient results and enhances the reaction productivity. Therefore, this process is extensively preferred in end-user industries such as pharmaceuticals. In addition, the conventional batch reactor method is not appropriate for various chemical reactions due to immense heat energy released in the process. Furthermore, the process offers harmless chemical reactions, which are beneficial for the environment and the worker.
The global flow chemistry market size provides numerous viable benefit as compared to batch processes. Concerns on account of technology and production scale up for commercializing the process is the major hindrance confronted by the industry share contributors, as the process/technology was primarily developed for laboratory applications. Emergence of process acceptance towards bio-diesel production due to its superior efficiency, reduced raw material requirement along with minimum carbon emissions is likely to create new growth avenues for the The global microreactor system flow chemistry market size is forecast to witness maximum growth over 15% by 2024. These systems provide high heat and mass transfer properties, which efficiently control the heat energy released throughout the chemical reaction.
These are widely used at the small-scale applications including industrial research and academics. However, with the technological developments, these systems will suitable for large scale commercial applications owing to boost industry growth.
The industry is mainly led by continuous stirred tank reactor (CSTR). These reactors are particularly used in series in order to upgrade the efficiency of the reaction. These are widely used in the chemical and petrochemical industries, where low energy and material consumption is essential in order to reduce the overall operational cost.
North America, led mainly by the U.S. flow chemistry market share is analyzed to observe gains over 9% CAGR by 2024. The regional growth is mainly propelled by robust pharmaceutical and petrochemical industries in the U.S.
In 2015, the global flow chemistry market share was led by Asia Pacific. Presence of major chemical producers in India and China is the major factor driving the regional growth.
Global flow chemistry market size remains moderately consolidated with key industry share contributors accounting over 40% of the overall share. Key companies in the global flow chemistry market share are Vapourtec, ThalesNano Inc., Uniqsis, ThalesNano, FutureChemistry Holding BV, Milestone Srl, Koninklijke DSM N.V. and AM Technology, Chemtrix BV.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Global Market Insights, Inc.
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