Flow Chemistry Market Growth & Trends
The global flow chemistry market size is expected to reach USD 3.75 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 11.2% from 2022 to 2030. Advantages over batch reactors and growing investments in the pharmaceutical and chemical industries are projected to boost the market growth.
The COVID-19 pandemic has accelerated the need to move away from chemical commodities to specialty chemicals as per the requirement of customers. Moreover, the adoption of continuous manufacturing has increased due to the supply chain disruptions caused by the pandemic, which is expected to augment the demand for flow chemistry over the forecast period.
Significant reductions in trash output and the eradication of non-renewable industrial methods are global environmental concerns. As a result, major economies are enacting policies to mitigate environmental damage. Several governments are implementing policies to meet the targets for reducing greenhouse gas emissions.
Continuous Stirred Tank (CST) reactor systems require little human involvement to operate, resulting in reduced labor costs associated with their deployment. Furthermore, both reactor systems have a high output rate, which leads to reduced production costs. The aforementioned factors are likely to boost the demand for CST reactor systems over the forecast period.
The growing pharmaceutical industry has positively impacted the market for several years on account of the increase in the number of potent and orphan drugs. Moreover, the need for process safety, reduction of investment cost, and quality standards are likely to augment the demand for flow chemistry over the forecast period.
The growing use of microreactors in the specialized chemical, fine chemical, and other petrochemical industries has helped to significantly reduce environmental impact while also lowering manufacturing costs. Microreactors are used in the bulk chemicals industry to produce several chemicals such as styrene and Ethylene Oxide (EO), which is expected to boost the market growth.
Flow Chemistry Market Report Highlights
- The pharmaceuticals application segment is anticipated to expand at a lucrative CAGR of 12.0% from 2023 to 2030, in terms of revenue, due to the growing demand for technology that uses renewable energy sources and reduced manufacturing cost
- By reactor type, microreactor is expected to witness significant growth over the forecast owing to the increasing demand for environmentally-friendly equipment and the ability to increase selectivity
- Asia Pacific is estimated to expand at a significant CAGR of 12.4% over the forecast period on account of the rapidly growing petrochemical industries and a rise in academia and research in South Korea and Australia
- In Europe, Germany accounted for the largest revenue share of over 30.0% in 2021 owing to the advanced infrastructure, growing pharmaceutical and chemical industries, and skilled workforce
- Companies such as Am Technology, CEM Corp., Biotage AB, Syrris Ltd., and Vapourtec Ltd. are strategizing to strengthen their geographic presence by mergers and acquisitions or capacity expansions in Asia Pacific
