December 12, 2019
According to the research report titled ‘Flow Chemistry Market Size By Product (Microreactor Systems, Continuous Stirred Tank Reactor [CSTR], Plug Flow Reactor [PFR]), By Industry (Pharmaceutical, Chemical, Academic & Industrial Research, Petrochemical), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’, available at MarketStudyReport.com, the global flow chemistry market is estimated to cross USD 2.5 billion by the year 2026.
For the record, continuous flow technology is extensively used in production of petrochemical products such as ethane, methane, benzene, and ethylene. The process employs in-line technologies and control automations for reliable and flawless production.
Surging demand of low-cost and high-volume petrochemicals across the globe is a major factor driving the growth of flow chemistry market. Growing awareness regarding the benefits of continuous flow process over batch process, coupled with technological advancements by key industry players are augmenting the demand for flow chemistry products across the globe.
In terms of product type, flow chemistry market is categorized into microreactor systems, CSTR (Continuous Stirred Tank Reactor), and PFR (Plug Flow Reactor). The report cites that CSTR segment dominates the flow chemistry industry presently, since they are extensively used for homogenous flow reactions across industrial applications. The set-up and operational cost for CSTR is low making it a preferred choice among consumers.
Based on industry spectrum, flow chemistry market from pharmaceutical industry segment is estimated to grow substantially over the forecast period, owing to rising advancements and developments in continuous flow technology. This technology in pharmaceutical industry is used to produce drugs and other medical products. Additionally, this technology makes the production processes more reliable, economical, and productive.
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Considering the geographical landscape, North America held the largest regional share in the global flow chemistry market in 2018, on account of booming chemical and petrochemical industries. Rising adoption of shale gas technology is paving the way for increasing investments and escalating capacities across the region.
The prominent companies operating in flow chemistry market are FutureChemistry Holding, Chemtrix, AM Technology, DSM, ThalesNano, Lonza Group, Uniqsis and Syrris among others.
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