Flow Chemistry Market is expected to surpass USD 2.5 billion by 2026. Rising demand of petrochemicals will upsurge industry growth.
Some major findings of the flow chemistry market report include:
- Growing chemical production in North America to uplift industry growth
- Rising bulk chemicals production to upswing continuous flow technology.
- CSTR to emerge as the major reactor used in the industry
- Technological innovations by companies to play a key role in the sector.
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Increasing demand of continuous flow technology to produce bulk chemicals is anticipated to drive the industry expansion. The bulk chemical industry has low price and high-volume product demand that is easily achieved through flow chemistry. The continuous flow technology employ automation in control processes and in-line technologies for process monitoring that helps in detecting any deviation or defects in the production and make the process more reliable.
The technology is widely used in production of various petrochemicals including ethane, benzene, methane, ethylene and many others. There are various advantages offered by continuous flow technology over batch process, however, if there is any fault in the any step of the process, whole process gets disturbed. In continuous flow, it becomes very important to avoid any blockage in the process.
CSTR dominates the global flow chemistry market owing to its usage in multiple applications. These reactors are majorly utilized in industrial applications for homogenous flow reactions. The cost of CSTR is quite low as compared to batch processes supported by a low setup cost. This is anticipated to be the key factor supporting the industry growth over the study timeframe.
Growing use of flow chemistry in pharmaceutical industry will induce significant growth potential in the industry. Pharmaceutical sector is investing heavily in advancement and development of continuous flow technology in manufacturing drugs and other pharmaceutical products. Several firms are shifting towards flow technology to make the production process more productive, reliable and economical.
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North America dominates the flow chemistry market owing to proliferating chemical and petrochemical sector. The U.S. chemical industry will foresee an upward trend in the long-term perspective. This is attributed to rising adoption of shale gas technology that is escalating the capacity expansion and investment in the region. Further, the chemical production is anticipated to expand with major growth arising from gulf coast followed by Ohio valley and Midwest regions.
Flow chemistry is an evolving technology and the chemical industry participants are adopting the technology for the production process. Major flow chemistry market players include Chemtrix, FutureChemistry Holding, DSM, AM Technology, Lonza Group, ThalesNano, Syrris, and Uniqsis. Industry players are undergoing mergers and acquisition to expand their service network and diversify their product portfolio. For instance, DSM collaborated with Chemtrix to extend its product reach in pharmaceutical sector by utilizing advanced continuous flow technology.
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