Increasing adoption of flow chemistry in pharmaceutical, chemical and petrochemical industries to drive market 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 by 2028 and register a CAGR of 9.8% over the forecast period, according to a latest report by Reports and Data. Market revenue growth driving factors include increasing applications of flow chemistry in the pharmaceutical industry and in chemical industries for a variety and increasing range of applications.
Over the last few decades, the field of flow chemistry has gotten a lot of attention. From drug discovery to processing, flow chemistry has been commonly used in the pharmaceutical industry. 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.
Flow chemistry has evolved significantly in recent years, from a simple laboratory technique to a multistep, complex method. One of the most popular applications of continuous flow technology is in the chemical industry. 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 and technological advances have produced growth opportunities for the flow chemistry market in academia and research.
Key market players include Am Technology, CEM Corporation, Milestone Srl, Biotage AB, Syrris Ltd., Vapourtec Ltd., ThalesNano Inc., Hel Group, Uniqsis Ltd., Chemtrix BV, Ehrfeld Mikrotechnik BTS, Future Chemistry Holding BV, Corning Incorporated, Cambridge Reactor Design Ltd., PDC Machines Inc., and Parr Instrument Company.
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Some Key Highlights From The Report:
- Phlow Corp., 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 grow.
- Microreactors are expected to rise at the fastest rate during the forecast period, owing to their widespread use in pharmaceuticals and fine chemicals.
- The pharmaceutical industry is expected to see the fastest growth in the use of flow chemistry for conducting reactions, continuous separations, and continuous crystallisation.
- During the forecast period, petrochemicals segment is projected to register a substantial revenue CAGR, owing to rising demand for high yield with low energy and material usage and high-cost savings.
- Due to high demand from many major end-use industries such as chemicals and petrochemicals, Europe is one of the fastest growing markets among other regional markets, and accounted for a revenue share of 22.6% in 2020.
- North America accounted for largest market share in 2020, attributed to large number of chemical manufacturers in countries in the region, and rapid technological advancements.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/flow-chemistry-market
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)
- Plug Flow Reactor
- Microwave System
Application Outlook (Revenue, USD Million, 2018 – 2028)
- Academia & Research
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Regional Outlook (Revenue, USD Million, 2018–2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
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