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Flow Chemistry Global Market Report - By Size, Share, Key Factors, Demand, Forecast To 2033
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Experiencing rapid expansion, the flow chemistry market is set to grow from $2.09 billion in 2023 to $2.35 billion in 2024, showcasing a Compound Annual Growth Rate (CAGR) of 12.7%. Anticipated to maintain its momentum, the market is projected to reach $3.93 billion by 2028, with a CAGR of 13.7%.
Key Growth Drivers:
Pharmaceutical Industry's Surge Drives Flow Chemistry Market:
The burgeoning pharmaceutical industry is expected to fuel the growth of the flow chemistry market. Utilized for drug discovery, chemical process development, and manufacturing within the pharmaceutical sector, flow chemistry plays a pivotal role. With the Indian pharmaceutical industry reaching $41.7 billion in 2020 and anticipated to reach $130 billion by 2030, as reported by the Federation of Indian Chambers of Commerce & Industry (FICCI), the increasing demand for pharmaceuticals is set to propel the growth of the flow chemistry market.
Rising Tide of the Chemical Industry Boosts Flow Chemistry Market:
The growth of the chemical industry is anticipated to drive the expansion of the flow chemistry market. Facilitating the continuous synthesis of various chemicals, including specialty and fine chemicals, flow chemistry provides precise control over reaction conditions, leading to enhanced product quality and yield. With global chemical production (excluding medicines) expected to increase by 3.5% in 2022, according to BASF SE, the upsurge in the chemical industry is a key driver for the flow chemistry market.
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Major Players:
Prominent companies in the flow chemistry market include AM Technology Co Ltd., CEM Corporation, Milestone Srl, Biotage AB, and others.
Trends Shaping the Market:
Development of Advanced Facilities in the Pharmaceutical Sector:
The establishment of new facilities emerges as a significant trend in the flow chemistry market. Companies are focusing on developing new procedures to sustain their market position. For example, PharmaZell GmbH introduced the cGMP Pilot Facility in July 2023, designed to facilitate the manufacturing of complex Active Pharmaceutical Ingredients (APIs) using flow chemistry for enhanced process control, safety, and effectiveness.
Innovation with Lab Reactor System 2 for Enhanced Experimentation:
Major companies are innovating new products to enhance their market presence. Corning Inc. introduced Lab Reactor System 2 in June 2023, a modular laboratory reactor facilitating mixing, dispersing, and homogenizing processes for experimentation, process improvement, and the creation of new chemicals and technologies.
Regional Insights:
North America emerged as the largest region in the flow chemistry market in 2023, and it is expected to be the fastest-growing region in the forecast period. Comprehensive regional coverage includes Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Market Segmentation:
The flow chemistry market covered in this report is segmented -
1) By Reactor: Microreactor Systems, Continuous Stirred Tank Reactor (CSTR), Plug Flow Reactor, Meso Reactor
2) By Technology: Gas Based Flow Chemistry, Photochemistry Based Flow Chemistry, Microwave Irradiation Based Flow Chemistry
3) By End-User: Pharmaceutical, Chemical, Academic and Industrial Research, Petrochemical
Access the Complete Report for In-Depth Analysis:
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Flow Chemistry Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Flow Chemistry Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on flow chemistry market size, market drivers and trends, market major players, competitors' revenues, market positioning, and market growth across geographies. The flow chemistry market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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