Flow Chemistry Market to reach around US$ 3341.3 million by 2030- Coherent Market Insights
Flow chemistry includes performing reactions in a continuous stream rather than in batches. Pumps are utilized to start the flow of fluid into a tube in this operation. Flow chemistry enables safer, greener, more efficient, and less expensive chemical processes. Flow chemistry improves reaction speed and safety while also enabling multi-step synthesis.
The global flow chemistry market is estimated to account for US$ 3341.3 Mn in terms of value by the end of 2023.
Drivers
- The chemical industry's expansion is accelerated.
Rapid industrialization and urbanization around the globe are projected to foster the market growth of flow chemistry. Increasing number of various manufacturing industries are driving demand for flow chemistry. According to the World Economic Forum, by 2030, the Asia Pacific region is expected to contribute roughly 60% of global growth.. For instance, in May 2020, Biotage AB an manufacture acquired PhyNexus, Inc., an American company that produces sophisticated microscale purification systems. The acquisition was made to enhance Biotage's product line for drug discovery and life sciences research.
Market Opportunities
Growth in the food and beverage industry, which is heavily reliant on flow chemistry for bulk chemical manufacture, is likely to open up new market prospects. Furthermore, strong expansion in the construction industry is driving demand for soaps, detergents, and paints and coatings, which is expected to drive flow chemistry market growth. Furthermore, rapid growth in the Indian pharmaceutical industry is again expected to fuel the market growth of flow chemistry.
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https://www.coherentmarketinsights.com/market-insight/flow-chemistry-market-4063
Market Restraints
Flow chemistry market expansion is expected to be hampered by challenges involved with scaling up technology for commercialization and adhering to rigorous regulations in the pharmaceutical industry. Flow chemistry is widely used in laboratories, however, challenges associated with scaling up the technology from the laboratory to commercial level is projected to hinder the market growth of flow chemistry.
Global flow chemistry market was valued at 1736 Mn market in 2022 and is forecast to reach a value of US$ 3341.3 Mn by 2030 at a CAGR of 8.5% between 2022 and 2030.
Continuous stirred tank reactor (CSTR) segment dominated the global flow chemistry market in 2022, accounting for 8.5% share in terms of value, followed by micro reactor systems and others segment, respectively.
Market Trends
Increasing focus of manufacturers to enhance the capability of flow chemistry is a major trend in the market. For instance, in April 2020, Seqens CDMO an manufacture announced plans to enhance flow chemistry capabilities at its Seqens' Lab R&D center for efficient and safe synthesis of active pharmaceutical ingredients (APIs) and intermediates. Seqens' Lab will add a GMP pilot plant to its continuous bench reactors and analytical tools to increase the capacity to handle difficult reactions, intermediates, and APIs.
Product innovation by major players for business expansion is one of the key trends in the flow chemistry market. In February 2020, TKS Event Organizer and Chemtrix BV announced their collaboration for the 2nd Flow Chemistry Pavilion at Achema 2021. The Flow Chemistry Pavilion is a dedicated area for Flow Chemistry Companies to showcase their very latest continuous manufacturing solutions, covering all aspects of process technology from up and down-stream applications to fluid handling.
Global Flow Chemistry Market - Impact of Coronavirus (Covid-19) Pandemic
The coronavirus pandemic has affected one of the most important sectors of the global economy –the Chemicals Industry which contributes around 7.0 % to the global GDP and employs around 120 million people (including directly and indirectly). The production of bulk chemicals has declined across the globe, due to lower demand from the end-use industries such as coatings, agriculture, consumer durables, electronics, healthcare, food processing, construction, and automobile.
Competitive Section:
- AM Technology
- Chemtrix BV
- Future Chemistry Holding BV
- Koninklijke DSM N.V.
- Lonza Group Ltd.
- Milestone Srl
- Syrris Ltd.
- Thales Nano Inc.
- Uniqsis Ltd.
- Vapourtec Ltd.
