Flow chemistry is a process of performing chemical reactions inside a pipe or tube. In this process, various reactive components are pumped together at a common mixing point and flown down a tube with controlled temperatures. This process is also known by several other names including microchemistry, plug flow, and continuous flow chemistry. Fast reaction time, clean results, and easy scale up of various separate services are creating demand within the global flow chemistry market. The global industry is driven by increasing applications and demand for sustainable products across different parts of the world. As a result, the industry has succeeded in maintain significant rate over the years.
Market Drivers for Flow Chemistry Industry
There is a great rise in demand for energy saving devices and sustainable equipments, which can deliver safe and fast reactions, easy scale-ups, and system integrations of typically time consuming reactions. Rising demand for flow devices is creating better business opportunities in the global flow chemistry market. In order to cater the rising demand, existing manufacturers in the industry are concentrating on technological advancements and applications of environment friendly and sustainable devices. Segmentation in this industry is also based on the types of devices, reactors, materials, applications, and demand within different geographic regions.
Basic types of devices in the flow chemistry market include continuous stirring tank reactors (CSTR), micro reactor systems (MRT), Microwave systems, plug flow reactors (PFR), and others. Different types of reactors in the market include capillary based, chip/plate based, and millistructure/microstructure based reactors. Types of materials used in the industry include stainless steel, glass, ceramics, silicon, polymers, and various other materials. Geographically, the market is categorized into four basic regions, which include North America, Asia Pacific, Europe and rest of the world. Performance of key industry players in all these regions is vital in the process of determining the overall market conditions.
Changing dynamics of economics, rising demand for sustainable devices, and rising prices of energy are some of the major drivers for the global flow chemistry market. From 2013 to 2018, the market is estimated to progress at an estimated CAGR of over 9.4%. At the projected growth rate, the industry is set to pick up from $709.85 million in 2012 and is anticipated to reach past $1,216.1 million by the end of 2018. According to the reports, micro reactor systems market is poised to witness strongest growth. Great energy saving potential and safe reactions and operations are driving this segment of the global market. In terms of geographic regions, North America is dominating the global market.
Within North America, United States of America is the largest consumer with strongest demand and applications for these products. Asia Pacific and rest of the world segments on the other hand are showing impressive progress with rising demand from regions like India, China, and Middle East.