Microreactor Technology Market Research Study including Growth Factors, Top Players, and Competitive Analysis by regions from 2018 to 2028
A recent research study by Fact.MR found that sales of microreactors reached 294,000 units in 2018 and are expected to grow nearly 9% year over year in 2019. The increasing competition between manufacturing companies for finer products remains an essential aspect of the demand for microreactor technology. The ability of microreactor technology to enable effective and efficient drug synthesis is one of the key factors driving its increasing acceptance in the pharmaceutical industry.
The report notes that the increasing demand for process intensification has inspired various chemical industries to adopt microreactor technology. The ability of microreactor technology to enable continuous reactions in small channels instead of large-scale components, resulting in effective mixing of reagents and seamless heat transfer, improves its visibility compared to traditional technologies. In addition, an inherently safer, high-efficacy design has been identified to encourage the use of microreactor technology in challenging chemical industry application areas.
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Microreactor technology is gaining ground as a key element for single-stage reactions with minimal waste
The use of microreactors has seen a remarkable increase in several industrial ecosystems such as chemistry and pharmacy due to their ability to provide high throughput using a minimal amount of materials. In addition, the one-step reactions made possible by microreactor technology help eliminate the risk associated with waste products, resulting in high quality end products, promoting adoption in various end-use industries to achieve unprecedented productivity.
“Microreactor technology is also widely recognized by various end-use industries for its ability to catalyze faster reactions, which also ensures higher yields of up to cent percent without compromising quality. Microreactors have emerged as the standard tool for end users to improve quality through precise control of key operating parameters ranging from pressure to space velocities, ”Senior Analyst, Fact.MR
With 157,000 units sold in 2018, the demand for falling film microreactors is thriving due to the larger specific surface area compared to conventional reactors, according to Fact.MR. The Asia microreactor is still the most well-known mixing type and is likely to see remarkable growth in the years to come due to its effectiveness in terms of persistence and transparency.
The report goes on to say that sales of each type of material continue to be heavily influenced by the specific advantages and disadvantages inherent in price and compatibility with the reagents or thermal conductivity. The glass microreactor remains the best-selling variant due to its superior compatibility with aggressive media and reagents. Additionally, the benefits of glass microreactors in terms of transparency and convenience have been widely recognized, which has further sparked their acceptance in various end-use industries.
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Significant advantages over batch processing to promote popularity
Microreactor technology is becoming more and more attractive for production departments in the pharmaceutical industry, followed by specialty chemicals. The advantages of processes with continuous flow compared to batch chemistry also contribute to the increased use of microreactor technology in both pharmaceutical and specialty chemistry. This leads to the rapid synthesis of organic compounds under hazardous conditions with minimized waste. In addition, the introduction of microreactor technology offers additional benefits in terms of capital investment and operating costs, while significantly reducing the time-to-market aspect, which strengthens adoption in various end-user industries.
According to the report, the Microreactor Technology market remains consolidated at the lower end with the Tier 3 or emerging players holding a significant share of sales. Specific product segments and increasing sales remain two of the main focuses of these emerging players.
Fact.MR’s report provides actionable intelligence with a comprehensive opportunity assessment of the Microreactor Technology market. The report notes that the Microreactor Technology market is expected to grow at a CAGR volume of around 8% through 2028.
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