Selbyville, Delaware, Aug. 25, 2021 (GLOBE NEWSWIRE) -- As per the latest report by Global Market Insights Inc., the Flow Chemistry Market is estimated to garner a valuation of over USD 2.77 billion by 2027. The research report offers a comprehensive assessment of market size & estimations, major investment pockets, competitive scenario, drivers & opportunities, wavering market trends, and top winning strategies.
Flow chemistry provides several benefits like higher selectivity, safer & faster reactions, cleaner products, higher yields, and ease of expansion. These advantages are augmenting product uptake in several industries, such as chemical, pharmaceutical, and petrochemical, among others. Moreover, extensive end-user applications like polymer manufacturing are set to drive the flow chemistry market growth in the upcoming years.
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The meso reactor segment is projected to be valued at over USD 133 million by 2027, progressing at a substantial pace through the forecast period driven by the prominent utilization of these reactors in industrial and chemical applications. Meso reactors have a channel width of up to a few millimeters that aids in high throughput and low-pressure drop. These reactors are used in nano-chemistry, particularly in nanoparticles processing and synthesis. They also enable optimization in processes as they can operate in high-temperature and low-pressure conditions.
Key reasons for flow chemistry market growth
- Prevalent adoption across the pharmaceutical sector.
- Rising product demand in the petrochemical industry.
- Growing need to reduce the waste generation in production processes.
2027 forecasts show the ‘chemical’ segment retaining its dominance
From the end-user perspective, the chemical segment is estimated to grow at a CAGR of around 11.7% through 2027. The chemical sector has gained prominence as a key end-user in recent years. Soaring product application in fine & specialty chemicals propelled by escalating awareness pertaining to safety & environmental regulations is likely to propel segmental growth over 2021-2027. Additionally, growing emphasis on scaling up manufacturing yield is projected to positively influence the flow chemistry market share over the forthcoming years.
North America to continue its top status in terms of revenue
Based on region, the North America flow chemistry market is anticipated to expand at more than 11.7% CAGR through the analysis period. The technology segment has witnessed robust growth in the region due to the booming domestic chemical sector. The expanding construction sector, coupled with rising consumer spending, has bolstered the production of soaps, paints, and coatings in the region. Furthermore, recent medical advancements and high pharmaceutical spending among U.S. citizens are creating a need to produce larger amounts of precision pharmaceutical chemicals in a short lead time, which is set to foster regional market growth through the assessment timeframe.
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Impact of COVID-19 pandemic on flow chemistry market
Following the COVID-19 outbreak, there was a burgeoning demand for pharmaceuticals to meet the needs of the proliferating patient base across the globe. To address this demand, industry players resorted to flow chemistry to ensure the consistent production of drugs. The flow approach helped make smaller amounts of material at a time over an extended period. The system is more readily controlled and typically helps manufacture cleaner product mixtures, which are also easier to purify. As a result, the increased importance of flow chemistry for sustainable manufacturing across the pharmaceutical industry has been favorable for market penetration during the pandemic.
Leading market players
AM Technology, FutureChemistry Holding B.V, Milestone Srl., Chemtrix BV, ThalesNano Inc., Lonza Group Ltd., and Cambrex Corporation, among others, are some major industry players operating in the flow chemistry industry.
About Global Market Insights Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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