As per a research report by Global Market Insights, Inc., global flow chemistry market is estimated to surpass $2.5 billion through 2026 and will grow at 11% over 2019-2026
Global flow chemistry market has emerged as one of the most lucrative verticals in recent years. The market is anticipated to witness heavy gains in the forthcoming timeframe. Growing need of petrochemicals is the key factor driving the market outlook through 2026.
The flow chemistry technology has a wide range of applications since it is used in the manufacturing of several petrochemicals including benzene, ethane, ethylene, methane and many others.
Apart from petrochemical applications, rising demand for continuous flow technology to manufacture bulk chemicals should push the market share. The high-volume and low-price product demand in the bulk chemical sector is easily obtained by the use of flow chemistry.
The continuous flow technology uses automation in control processes and in-line technologies to carry out process monitoring. This helps in finding any defects or deviation in manufacturing. This move makes the process more reliable.
North America flow chemistry market is predicted to observe considerable growth in the forthcoming years. This growth can be attributed to a flourishing chemical and petrochemical sectors in the region. The U.S. would lead the market share of North America, particularly due to its strong chemical industry.
Additionally, growing adoption of shale gas technology and mounting investments in the same would be another key factor pushing the market expansion. Apart from this, growing proliferation of chemical production throughout the gulf coast along with Ohio Valley and Midwest regions are likely to foster the flow chemistry market outlook in the region.
With respect to product segment, continuous stirred tank reactor (CSTR) is projected to dominate the market due to its application in several industrial sectors. The reactors are majorly used across industries for homogeneous flow reactions. CSTR is cost-effective in comparison with other batch processes. The reactors also need a low setup cost. Higher productivity and comparatively lesser cost is anticipated to propel the segment share in the flow chemistry market.
Meanwhile, increasing adoption of continuous flow technology in the pharmaceutical sector is projected to push the industry segment share over the forecast timespan. The pharmaceutical industry is witnessing hefty investments for developing and advancing the continuous flow technology to produce drugs as well as other pharmaceutical products. Many pharmaceutical companies are turning towards flow chemistry technology to make their production outlook more reliable, productive and economical.
All in all, the aforementioned determinants are set to offer a diverse array of growth opportunities for global flow chemistry market players. The competitive landscape of flow chemistry market is inclusive of players such as Uniqsis, Syrris, ThalesNano, Lonza Group, AM Technology, DSM, FutureChemistry Holding, and Chemtrix among others.
Source: https://www.gminsights.com/pressrelease/flow-chemistry-market
