The Global Flow Chemistry Market was valued at USD 1.55 Bn in 2020 and is expected to reach USD 2.85 Bn by 2027, with a growing CAGR of 10.7% during the forecast period.
The process of conducting chemical reactions in a tube or pipe is known as "flow chemistry." This process is also known as ‘continuous flow chemistry.’ Additionally, the components in the reaction are pumped together where they are a mixed at a joint and then flown down to a temperature-controlled pipe or tube. This has several benefits, that include faster reactions, cleaner products, safer reactions, and easy scale-up.
Growing demand for research in chemicals is expected to bolster the flow chemistry market growth during the forecast period. For instance, in India the upcoming Coromandel’s 400 Cr sulphuric acid plants is expected to support the flow chemistry industry demand in the near future. Additionally, flow chemistry facilitates faster reactions, cleaner products a, safer reactions. Multi-step procedures such as a rapid low-temperature deprotonation followed instantaneously by the addition of an electrophile high temperature which makes the process easy. Moreover, versatile application in the traditional organometallic chemistry laboratory by providing high ﬁdelity, transient information for process chemistry is expected to drive the market growth in the near future. For example, American Elements manufactures Trimethylboron (an organometallic compound) which is used to treat cell and tissues injuries. However, high capital costs may hinder the market growth during the forecast period.
The unique insights provided by this report also include the following:
Based on reactor type, CSTR segment is expected to bolster the market demand during the forecast period due to homogeneous liquid phase operations
Based on reactor type, the market is segmented into microwave systems, microreactor, Continuous Stirred Tank Reactor (CSTR), plug flow reactor, and others. The CSTR segment held the largest market share in 2020 and is projected to remain dominant during the forecast period. CSTRs are commonly used in industrial processing, especially in homogenous liquid-phase flow operations that require continual agitation. They are, nevertheless, utilised in the pharmaceutical sector as well as in biological processes such as cell cultures and fermenters. For instance, Solaris’s benchtop fermenters and bioreactors provide efficient platforms for R&D and product development applications. The use of CSTR in pharmaceutical sector is expected to drive the flow chemistry industry growth during the forecast period.
Based on end-use, the chemicals segment in the flow chemistry market is expected to hold the largest market share during the forecast period owing to its optimization of laboratory synthesis
Based on end-use, the market has been segmented into petrochemicals, chemicals, academic & research, and others. Chemical segment held the largest market share during the forecast period. Organic chemistry is a vast field of modern chemistry that includes fundamental studies of reaction mechanisms, identification of natural compounds, and optimization of laboratory syntheses, as well as their technological scale up. Using flow conditions to carry out chemical syntheses is a key component of flow chemistry's market growth in the near future. For instance, BASF manufactures petrochemicals that covers broad portfolio of high-quality basic chemicals. This segment generated a revenue of Euro 5426 million in 2020.
Based on region, North America held the largest market share during the forecast period
Based on region, the global flow chemistry market is widely spread into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to hold the largest market share during the forecast period. The presence of various chemical manufacturing sectors such as Dow, ExxonMobil Chemicals, and others. Their major applications include hydrogenation reactions, oxidations, halogenations, nitration’s, diazotizations, Grignard reaction mechanisms, reactions that use toxic gases. For instance, Dow’s product line includes “NORMAX” catalyst which is a hydroformylation product used for to manufacture alcohols from olefins. Additionally, licensed plants designed for the ‘LP OxoSM SELECTOR SM30’ technology utilizes NORMAX catalyst to help achieve higher ratios of linear to branched aldehydes from short chain olefins.
The report also provides an in-depth analysis of flow chemistry market dynamics such as drivers, restraints, opportunities, and challenges
COVID-19 has destabilized value chains, caused governments to respond. Businesses and governments rightly concentrated on safeguarding people and developing methods to recover from a deep health, economic, and social shock in the early months of the crisis. Moreover, the chemical (and other industrial) industries paid close attention to the pandemic's influence on stocks (e.g., controlling volumes or production location to match fluctuating demand) and flows (e.g., changing supply routes to guarantee supply of consumer goods or intermediates).
Consumers are placing higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has intensified the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines. The adoption of digital technology by chemical organizations has risen as a result of enhanced efficiency and reliability. Many organizations in these sectors experienced exceptional benefits from advanced market sensing, improved operational optimization, and expanded usage of "in silico" simulations. Companies' existing digital technologies provided an advantage with the abrupt entrance of COVID-19 and the accompanying shutdown of facilities and work sites, but they were often insufficient for the level of remote working and cybersecurity that was suddenly required.
The report also provides an in-depth analysis of key trends in the flow chemistry market
The report also provides an in-depth analysis of recent news developments and investments
The key players operating in the flow chemistry market are:
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.