The worldwide flow chemistry market is anticipated to reach USD 2.4 billion by 2025. It stood at USD 937 million in 2015. The market is expected to grow remarkably over the forecast period (2014 to 2025). Utilization of flow chemistry with 3D printing, microwave irradiation, and photochemistry is expected to propel its industrial applications. This may fuel market in the near future.
Flow chemistry can execute chemical reactions in continuous flowing streams. This technology is also known as continuous flow chemistry or plug flow. Flow chemistry has gained prominence in recent years due to its ability to produce large quantity of materials in a short time. It adheres to environmental regulations and provides high safety in laboratory experiments.
The market for flow chemistry is characterized by innovations and product expansion. Development of Active Pharmaceutical Ingredients (APIs) and fine chemicals has attracted pharmaceutical companies toward flow chemistry. Recently, ThalesNano, a Hungarian company specializing in chemical manufacturing devices, launched its IceCube system. These systems allow end-users to perform exothermic reactions at room temperature.
In-depth research report on global flow chemistry market - http://www.grandviewresearch.com/industry-analysis/flow-chemistry-market
The global flow chemistry market is segmented according to reactors, applications, and regions. On the basis of reactors, the segments are plug flow reactor (PFR), microwave system, continuous stirred tank reactor (CSTR), microreactor, and others. CSTR led the overall market with more than 40% share in 2015. CTSR are embedded with automated high-pressure systems that monitor and control various fluid parameters. With growing applications in industrial processes, this segment is expected to grow at around 8% CAGR till 2025.
Microreactors are expected to grow at a CAGR above 20% during the forecast period. Convenient size of reactors and their ability to handle hazardous materials during exothermic reactions may spur this growth.
As per applications, the segments are academia & research, pharmaceuticals, petrochemicals, chemicals, and others. With over 30% in terms of revenue share, chemicals led the overall market in 2015. Applications of flow chemistry in the production of fine & specialty chemicals may positively impact demand in the forthcoming years.
In terms of demand, pharmaceuticals are anticipated to grow at a CAGR above 10% from 2016 to 2025. On the basis of revenue, petrochemicals may grow at over 9% CAGR during the forecast period. Favorable production environment for polyethylene and ethylene manufacturers in North America can drive this growth.
Key geographical segments include Central & South America (CSA), North America, Middle East & Africa (MEA), Asia Pacific (APAC), and Europe. North America held over 30% revenue shares in 2015. Well-established chemical infrastructure and technological advancements are expected to spur regional market growth. APAC acquired second largest share in 2015. China’s emergence as the largest pharmaceutical manufacturer is anticipated to provide new growth avenues till 2025.
Notable players in the global market are ThalesNano, Chemtrix BV, Syrris Ltd., Vapourtec Ltd., and Future Chemistry Holding BV. Novel product developments and R&D are key business strategies incorporated by most of these market players. For instance, in 2016, Chemtrix BV expanded its global reach by collaborating with Central Scientific Commerce in Japan for effective distribution of its services. This would allow the company to cater to end-users in Japan with customer support and direct sales.