New York, March 29, 2021 (GLOBE NEWSWIRE) -- Increasing adoption of flow chemistry in pharmaceutical, chemicals, and petrochemicals industries is key factor driving market revenue growth
Market Size – USD 1.56 billion in 2020 Market Growth – 9.8% Market Trends – Demand for safe and more streamlined chemical processes
The global flow chemistry market size is expected to reach USD 3.27 billion in 2028 at a CAGR of 9.8% over the forecast period, according to a latest report by Reports and Data. Some key factors driving market revenue growth include increasing applications of flow chemistry in pharmaceuticals industry – from medicinal chemistry programme advancement to self-optimizing synthetic routes – and in chemical industries for a variety and increasing range of applications.
Over the last few decades, the field of flow chemistry has been gaining increasing attention. From drug discovery to processing, flow chemistry has been commonly used in the pharmaceutical industry, and a number of new enabling technologies are making it more rational to run reactions in flow over batch techniques from a synthetic standpoint. Furthermore, highly automated flow synthesis systems have been developed with a wide variety of applications in the pharmaceutical industry, ranging from medicinal chemistry programme advancement to self-optimizing synthetic routes.
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Flow chemistry has progressed considerably in recent years from being a basic laboratory techniques to a complex, multistep processes. Chemical industry has become one of the primary users of continuous flow technology. The molecular toolbox is being extended by new avenues of reaction chemistry. Machine intelligence and sustainable manufacturing are examples of next-generation engineering ideas that have become a reality, allowing for unprecedented interdisciplinary collaboration. Emerging trends that have the potential to start new fields of research and technological advancements have created growth opportunities for flow chemistry market in academics and research. Flow chemistry is said to be revolutionizing traditional chemistry laboratory and scientific discovery infrastructure.
However, requirement of very fast reaction conditions, potential risks on fouling, highly active stable catalysts, clogging, and leaks of chemicals are primary challenges to be considered. Flow chemistry market growth can be restrained by challenges such as catalyst deactivation, frequent reactor repacking/reactivation, and on-stream reliability in catalytic reactors. For instance, heterogenous mixtures can be slightly difficult to process if clogging occurs in reaction tubing.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/flow-chemistry-market
Some Key Highlights In The Report:
- Phlow Corp., which is headquartered in the United States, and the United States Pharmacopeia (USP) announced a strategic alliance in February 2021 aimed at increasing the supply of essential medicines for US patients. The collaboration will make it easier for Phlow to use flow chemistry and other continuous advanced manufacturing processes to produce the critical ingredients that allow end-to-end drug manufacturing in the United States.
- Plug flow reactors are well-suited to rapid reactions and large-scale processes, and their use in pharmaceutical and chemical manufacturing is expected to increase.
- Microreactors segment revenue is expected to register the fastest growth rate during the forecast period, owing to wide usage of microreactors in pharmaceuticals and fine chemicals.
- The pharmaceutical industry segment is expected to account for a substantial revenue share in the global market due to rising use of flow chemistry for conducting reactions, continuous separations, and continuous crystallisation.
- Petrochemicals segment revenue is expected to register a rapid CAGR during the forecast period, owing to increasing need for gaining high yield with low energy and material consumption and high-cost saving.
- Europe is one of the fastest growing regional markets, accounting for a market share of 22.6% in 2020, owing to high demand from various major end-use industries including chemicals and petrochemicals.
- In 2020, North America accounted for highest market share, supported by large number of chemical manufacturers, combined with robust technological innovation in various industries in countries in the region.
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Segments Covered in the Report:
For the purpose of this report, Reports and Data has segmented the global flow chemistry market report on the basis of reactor, application, and region:
Reactor Outlook (Revenue, USD Million, 2018–2028)
-
- CSTR
- Plug Flow Reactor
- Microreactor
- Microwave System
- Others
Application Outlook (Revenue, USD Million, 2018–2028)
-
- Pharmaceuticals
- Chemicals
- Academia & Research
- Petrochemicals
- Others
Regional Outlook (Revenue, USD Million, 2018–2028)
-
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Central & South America
- Brazil
- Argentina
- Middle East & Africa
- North America
-
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
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