The global flow chemistry market was worth USD 1.37 billion in 2020, and it is expected to increase at a CAGR of 10.2 percent from 2020 to 2028. Smaller equipment, less waste, lower costs, and a faster time to market for new pharmaceuticals are expected to propel the industry forward. The expansion is predicted to be fueled by increased investment in the application industry by reactor manufacturers and end-users. Flow chemical reactors are expected to increase at a faster rate than batch reactors due to their numerous advantages.
Flow chemistry produces a large increase in production while minimising energy and solvent waste by more than 90%. As a result, the technology is becoming more widely accepted for a variety of applications. The use of flow chemistry for manufacturing Active Pharmaceutical Ingredients (APIs) and chemicals is supported by regulatory organisations such as the US Food and Drug Administration (FDA) and the European Commission. This technology is likely to increase its use in various industries as a result of the FDA's quality by design efforts.
In North America, the United States is the largest market for flow chemistry. In the approaching years, increased chemical and pharmaceutical manufacturing, as well as increased investment by petrochemical producers, are expected to drive regional demand. Government measures aimed at reducing pollution are projected to boost the use of efficient and green technologies in the economy.
The market is divided into continuous stirred tank reactors, Microreactors, plug flow reactors, and microwave systems based on reactor type. In 2020, continuous stirred tank reactors had the most market share. The high acceptance of these reactors is due to their compatibility during many reaction phases, including liquid, gas-liquid, and solid-liquid. Furthermore, the reactors' ease of building is likely to boost demand over the projection period.
Plug flow reactors are well suited to quick reactions and large-scale processes, and their use in pharmaceutical and chemical manufacture is projected to grow. These reactors offer enormous potential for scaling up the manufacturing process at a cheap cost, which is expected to boost market growth in the future years.
Microreactors are predicted to increase at the quickest rate over the forecast period, owing to their widespread use in pharmaceutical and fine chemical manufacturing. These reactors take up less room and cost less money to build. Furthermore, they enable for the safe processing of highly reactive and hazardous processes. Over the forecast period, these factors are expected to favour market expansion.
The market has been divided into four categories based on applications: medicines, chemicals, academia and research, and petrochemicals. The most common application segments are chemicals and medicines. In terms of sales, chemicals had the highest market share in 2020, at 37.7%. By 2028, chemicals will be the market leader in terms of revenue. The chemical industry's demand for flow reactors is likely to be fueled by rising demand for specialised and fine chemicals, as well as a growing focus on scaling up production processes. Flow chemistry aids in the reduction of the number of steps and reaction rate, which is expected to boost market growth.
Because of the rising requirement for high yield with low energy and material consumption and great cost savings, petrochemicals is one of the fastest expanding applications of flow chemistry. Traditional batch methods are still used in about 90% of petrochemical processes. Over the projected period, however, technological developments and a growing awareness of cleaner technologies are expected to promote the utilisation of flow reactors. From 2020 to 2028, the petrochemical application is expected to rise by 10% in terms of revenue.
In conducting reactions, continuous separations, and continuous crystallisation, the pharmaceutical industry is expected to see the fastest development in the use of flow chemistry. The medicines segment was worth USD 342.1 million in 2020, and it is expected to expand at a CAGR of 11.4 percent between 2020 and 2028.
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