Flow Chemistry Market size to exceed $2.5bn by 2026
Published Date: November 11, 2019 Authors: Kiran Pulidindi, Hemant Pandey
Flow Chemistry Market size is set to exceed USD 2.5 billion by 2026; according to a new research report by Global Market Insights, Inc.
Flow chemistry industry demand will gain momentum with significant gains in global pharmaceutical industry. The technology is being used in the production of active pharmaceutical ingredients with its ability to provide high selectivity, enhanced scalability and safety. Batch processes are used to manufacture APIs to meet high quality and safety requirements of drugs. It is recognized that consistency, purity and quality can easily be controlled in continuous flow production. The technology avoids delay in transferring reactants from one batch to another that reduce the degradation in product quality due to overreaction between reactants. The above-mentioned factors will drive the flow chemistry market outlook.
Petrochemical sector to induce significant growth potential in coming years
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Petrochemical sector is one of the key contributors for flow chemistry attributed to additional benefits offered by the technology in the sector such as increased safety, low material and energy consumption leading to significant cost cutting as well as increased yields. Shale gas revolution has triggered the wave for production of chemical feedstocks at low costs majorly ethane or natural gas liquids. Supportive government policies in China and Middle East will support the market expansion over the study timeframe. For instance, Saudi government has been focusing more towards establishing its presence in the downstream sector primarily in petrochemicals with the aim to diversify its economy and reduce country’s reliance on crude oil.
Browse key industry insights spread across 110 pages with 91 market data tables & 25 figures & charts from the report, “Flow Chemistry Market Share 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” in detail along with the table of contents:
Strategic collaborations to gain prominence for product development
The industry players are collaborating with research institutes to develop products. For instance, Linde cooperated with Shanghai university in order to develop encapsulation material and electronic display packaging. The research is executed by university and funded by Linde. Evolving research and development sector in chemical industry is one of the key drivers for increasing demand for flow chemistry in the sector.
Asia Pacific to bank upon proliferating apparel industry
Asia Pacific region is majorly dependent on apparel industry with increasing production of manmade fibers for manufacturing various garments. Soaps, detergents and cosmetics are driving the flow chemistry industry growth in the region. Europe chemical industry size is achieving significant growth with rising demand for fertilizers and basic chemicals over the past five years. The growth in chemical industry is anticipated to trigger the demand for flow chemistry in the region.
Technological innovations and new product launched to lead industry growth
Industry players are expanding product portfolio to serve larger consumer base and strengthen their foothold. For instance, FutureChemistry, engaged in supplying instruments for laboratories launched a product named as FlowStart Evo. The product integrates all functions of flow chemistry into single instrument to make it easier for use. Key flow chemistry market participants include Chemtrix, AM Technology, Lonza Group, Syrris Ltd, Thalesnano Inc and FutureChemistry Holding among others.