Flow chemistry is a chemical process that is known by various other names like plug flow and microchemistry. This process is a chemical reaction performed in a tube or pipe. Various components are pumped together in a tube at controlled temperature. Various advantages of this method like fast reaction time, easy scale up and clean results are driving the applications of flow chemistry reactions. Rising demand on global scale is also creating strong growth prospects for the global flow chemistry market. The industry is aiming at impressive growth in terms of revenue and business opportunities as far as the next four to five years are concerned.
Drivers and Restraints for Flow Chemistry Industry
The global market for microchemistry or flow chemistry is driven by several crucial drivers, which include low operational costs for the batch reactors and fast and clean results provided by this process. Apart from that, low emission, high energy saving, sustainable production also make this process environment friendly. Growth in applications across different industrial verticals is also a crucial driver for the market. Above all, emergence of China as the strong market for the MRT systems is also a significant factor driving growth in the global flow chemistry market.
Major restraints for the market include high costs spent on research and development activities, limited use of MRT systems by the existing companies and high costs of the large MRT systems. Apart from that, the fact that these systems cannot perform at par with the large manufacturing complexes, is also a major hindrance for the global flow chemistry market. However, researchers expect the industry to witness plenty of business opportunities with manufacturing of bulk chemicals, demand from Middle East and growth in demand from industries like food and beverage, biofuel and other markets.
Researchers categorize the global flow chemistry market on the basis of the types of reactors, devices, applications and geographic regions. Analysis of all these segments provides overview of the growth trends and business opportunities in the industry, during the next few years to come. According to the experts, changing dynamics of the economy, changing demand patterns and various burning issues in the market are expected to determine the growth rate and demand for the industry in the years to come. Stringent regulations of CGMP are a major issue for the industry requiring immediate attention.
Experts estimate the flow chemistry market to maintain a steady growth rate of over 22% by 2018. At the estimated growth rate, the industry is expected to become worth more than $55.8 million by the end of the year 2018. European region is expected to become the largest market for various types of reactors, expect the microwave systems. Emerging markets like Middle East are also poised to witness rise in demand and production in the industry, which is a positive sign for the existing players.