Asia Pacific flow chemistry market dominated the global revenue share in 2015 and will exhibit flourishing growth prospects over the coming seven years. Supportive governmental norms and low initial investment required to establish a manufacturing base across APAC countries have attracted more market players, which, in turn, will generate significant revenue for flow chemistry industry over the years ahead. India and China will contribute significantly toward regional flow chemistry industry growth, owing to the presence of myriad chemical manufacturers in the region.
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Pharmaceutical sector is further adding to a huge share of the flow chemistry market. The report estimates that this sector will be the fastest-growing segment in the end-use landscape. Rising preference of flow chemistry products over batch reactors driven by safety parameters, usage in drug manufacturing, and ability to increase the production rate at a lower cost are the factors driving the flow chemistry industry size in pharmaceutical applications.
North America flow chemistry market on this ground is experiencing a rapid growth with the expanding petrochemical and pharmaceutical industry base. It is set to register a CAGR of 9% over the period of 2016-2024. U.S. is the prominent country leading the regional growth with considerable natural gas and petrochemical feedstocks.
Drifting focus towards environmental friendly processes in pharmaceutical and chemical manufacturing will substantially boost the overall flow chemistry market size over the projected timeframe. The process encompasses least heat exchange in comparison with traditional processes including batch, which consequently offers precise and efficient results and enhances the reaction productivity. Therefore, this process is extensively preferred in end-user industries such as pharmaceuticals. In addition, the conventional batch reactor method is not appropriate for various chemical reactions due to immense heat energy released in the process. Furthermore, the process offers harmless chemical reactions, which are beneficial for the environment and the worker.
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The Flow Chemistry Market was USD 900 million in 2015 and anticipated to grow at 10% CAGR, to exceed USD 2 billion by 2024. Flow chemistry industry is poised to witness a lucrative roadmap ahead with the products’ ability to enable sustainable manufacturing processes, owing to the minimal energy consumption, maximum production, and cost effectiveness with deployment of these products. Driven by the paradox shift observed in preference of ecofriendly processes both in chemical and pharmaceutical sectors, the market looks extremely promising from growth perspectives in the coming timeframe. As per a report by Global Market Insights Inc., “Flow chemistry market is estimated to surpass USD 2 billion by 2024, registering a remarkable annual growth rate of 10% over the period of 2016-2024.”
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Many industry giants are struggling to achieve the top business position owing to the continuous fluctuation in product costs as well as the introduction of new advanced products in the market. Industry participants have been collaborating with various multi-national companies operating in pharmaceutical, petrochemical, and chemical sectors to achieve lucrative profit margins. The key players in flow chemistry market are ThalesNano Nanotechology Inc., Vapourtec Ltd., Uniqsis Ltd, AM Technology, Koninklijke DSM N.V., FutureChemistry Holding BV, Chemtrix BV.