Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Flow Chemistry Market (By Application: Pharmaceuticals, Chemicals, Academia & Research, Petrochemicals, Others; By Reactor Type: CSTR, Plug Flow Reactor, Microreactor, Microwave Systems, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026”.
LOS ANGELES, March 27, 2019 (GLOBE NEWSWIRE) -- The worldwide flow chemistry market’s worth is forecast to touch USD 3.3 billion by 2026 and the market is anticipated to witness a CAGR of 10.2% through the forecast years. Eco-friendliness coupled with lesser operating costs of the technology is anticipated to drive the market growth.
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Considerable lessening in waste generation along with removal of non-renewable production methods are significances from a global environment perspective. Main economies are consequently presenting regulations with a view to minimize the damage to the nature. Many governments are presenting procedures to achieve the targets set by the Paris Agreement under the United Nations Framework Convention on Climate Changes (UNFCCC), particularly to lessen the emission of greenhouse gases.
Plug Flow (PF) and Continuous Stirred Tank (CST) are the most usually accepted reactors in this market. Continuous Stirred Tank reactor systems necessitate limited human intervention to function thus experiencing low labour costs related with its adoption. Moreover, both reactor technologies have a high output rate, which is resulting in low manufacturing costs.
The use of flow chemistry in the pharmaceutical business is foreseen to observe the quickest development in continuous separations, conducting reactions, and continuous crystallization. In 2019, pharmaceuticals were esteemed at USD 300.2 million and are anticipated to contribute over USD 612.8 million in 2026.
Petrochemicals is foreseen to enlist a CAGR of 9.7% from 2018 to 2026, attributable to the expanding requirement for increasing high return with low energy and material utilization and staggering expense sparing. Petrochemical application is foreseen to observe critical development of 9.7%, as far as income, from 2018 to 2026.
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The global flow chemistry market has been classified into application, reactor type and region. Based on application, the global flow chemistry market is segregated into pharmaceuticals, chemicals, academia & research, petrochemicals, and others. Based in reactor type, the global flow chemistry market is segmented into CSTR, plug flow reactor, microreactor, microwave systems, and others. On the basis of region, the global flow chemistry market is bifurcated into North America, Latin America, Europe, Middle East & Africa, and Asia Pacific.
On the basis of application, the market has been grouped into pharmaceuticals, chemicals, academia and research, and petrochemicals. Chemicals and pharmaceuticals are the main application segment. As far as income, chemicals held the market share of 37.51% in 2019. As far as income, the market for chemical is probably going to reach USD 917.6 million by 2026. Rising demand for cost adequacy and wellbeing combined with stringent natural guidelines are anticipated to move the development amid the figure time frame.
Plug flow reactors are exceedingly appropriate for fast responses and large capacity processes which is relied upon to build its usage in pharmaceutical and chemical production. These reactors give colossal chances to scaling up the creation procedure in minimal effort which is foreseen to positively affect market development in the expected years.
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Micro reactors are anticipated to observe quickest development over the conjecture time frame by virtue of fast adoption in pharmaceutical and fine chemicals. These reactors require less space and low capital venture. Likewise, they permit safe handling conditions for profoundly responsive and lethal responses. These variables are anticipated to look good for market development over the forecast period.
North America held the leading market share of 35.5% in 2019. The presence of a substantial number of chemical manufacturers combined with technological innovation is required to increase the demand for new innovations incorporating flow chemistry in the region. Asia Pacific is anticipated to lead the worldwide market by 2026 attributable to the expanding provincial demand for nonexclusive medications. China, India, and Japan are foreseen to decidedly impact the worldwide demand during the prediction period. Europe is one of the quickest developing regions, representing a market share of 23.2% in 2018, attributable to extreme demand from a few noteworthy end-clients incorporate chemicals and petrochemicals.
The top players in the global flow chemistry market are Parr Instrument Company; Am Technology; PDC Machines Inc.; CEM Corporation; Cambridge Reactor Design Ltd.; Milestone Srl; Corning Incorporated; Biotage AB; Future Chemistry Holding BV; Syrris Ltd.; EhrfeldMikrotechnik BTS; Vapourtec Ltd.; Chemtrix BV; ThalesNano Inc.; and Hel Group;Uniqsis Ltd.
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