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CSTR will hold a major share in the industry over the study timeframe and is anticipated to generate a revenue of more than USD 1 billion by 2027 growing at a CAGR of 11.6%. The Continuous Stirred Reactor (CSTR), also known as a Continuous Stirred Tank Reactor (CFSTR), is used for the continuous supply & discharge of reactants. This reactor is mainly used for homogeneous liquid flow reactions that require constant stirring.
CSTR operates in a steady-state and the concentration & temperature in a CSTR are independent of location or time. These types of reactors are also used for wastewater treatment as they can resist fatty acid residues at high and low pH. Such trends will propel the flow chemistry market growth.
In terms of technology, microreactor systems will generate a revenue of over USD 260 million by 2027 and are likely to showcase a CAGR of around 15.7%. These are characterized by small device volumes and channel dimensions. These are ideal for lab-scale operations of flow processes, thermodynamics, or kinetic characterizations owing to their low material input and waste output. Microreactors have excellent intrinsic properties of heat and mass transfer due to their small size. Microreactor systems can be used for complex reactions as they enhance productivity and require less energy.
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Based on end-user, the pharmaceutical sector is estimated to generate a revenue of over USD 646 million in 2027 and is projected to grow at a CAGR 12.7% during the forecast period. The pharmaceutical industry has actively applied flow chemistry to optimize processes in the past few years. It will continue to remain an important end-user in flow chemistry market growth over the coming years.
Flow chemistry was introduced in the pharmaceutical sector in the early 2000s when researchers began developing systems for Active Pharmaceutical Ingredients (APIs) and intermediate synthesis. For almost a decade, flow chemistry has grown from an innovative synthesis concept to a versatile & powerful platform for the continuous manufacturing of APIs with a small manufacturing footprint, high productivity, and reduced waste & cost.
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Asia Pacific will witness a CAGR of around 13% from 2021 to 2027 owing to its demand in various end-use industries. The global shift of manufacturing industries toward Asia Pacific, particularly in economies including China, Japan, Malaysia, and India, will characterize the regional flow chemistry market during the forecast timespan. The highly competitive environment among industries is driving them to increase their productivity.
An increasing number of research projects and alliances between institutions and major manufacturers will have a positive impact on the global flow chemistry market in the coming years. Petrochemical industries in China, India, Japan, South Korea, and Taiwan will also support the flow chemistry reactors market to upgrade the continuous flow processes in oil rigs.
Latin America will generate around USD 170 million by 2027. The Latin America flow chemistry market is evolving in with several potential research & development areas in the chemical, pharmaceutical, cosmetics, and agrochemical industries. Vast natural resources in Mexico and Brazil, which include medicinal plants, oil, minerals, timber, marine, and agricultural products, and other raw materials, for the prevailing petrochemical, rubber & plastic, pharmaceutical, soap, detergent, and cosmetic industries will create ample growth opportunities over the coming years.