Micro reactors are the small scale continuous flow reactors used for the chemical synthesis, material synthesis and process analysis. Micro reactors are used in order to provide higher surface to volume ratio for the chemical reactions. The higher surface to volume ratio delivers higher stability, efficient heat transfer, and low risk for the explosive and hazardous reactions.
The need for Micro Reactor Technology (MRT) is gradually rising owing to factors such as, increasing demand of 3-d printed micro reactor owing to its relative affordability and high designing capability, growing nano pharmaceutics market driving MRT application in pharmaceuticals industry, increasing regulations and rising safety concerns in chemical industry affecting the micro reactor technology market in a constructive manner among others. According to MRFR analysis, the Global Micro Reactor Technology Market was valued at USD 32,456 million in 2015 and is expected to reach USD 1, 08,927.1 million by 2022 expanding with a CAGR of 19.05%.
Market Highlights:
Micro reactors are the small scale continuous flow reactors used for the chemical synthesis, material synthesis and process analysis. Micro reactors are used in order to provide higher surface to volume ratio for the chemical reactions. The higher surface to volume ratio delivers higher stability, efficient heat transfer, and low risk for the explosive and hazardous reactions. As per the analysis, global demand for micro reactor technology is gradually rising due to major driving factor such as increasing demand of 3-d printed micro reactor owing to its relative affordability and high designing capability, increasing regulations and rising safety concerns in chemical industry and others.
Market Segmentation Analysis:
The Global Micro Reactor Technology Market has been segmented into types, applications and end users. Among types the market is segmented into disposable and reusable, whereas the applications have been segmented into chemical synthesis, polymer synthesis, process analysis, material analysis and others. End Users of the micro reactor technology are specialty chemicals, pharmaceuticals, commodity chemicals and others. Among the types, disposable has accounted the largest market share in 2015, whereas chemical synthesis has become the leading application segment. On the basis of end user, specialty chemicals accounted the largest market share in 2015.
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Regional Analysis:
Geographically, the Global Micro Reactor Technology Market has been divided into five major region such as North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Among these regions, North America has emerged as one of the leading market followed by Europe and Asia-Pacific. North American market is one of the most attractive market for micro reactor technology which has directly created a positive impact on the MRT manufacturers and persuade them to increase the installation capacity to meet the future demand. The North America market for Micro Reactor Technology is expected to reach USD 40,574 million by 2022 with a growing CAGR of 18.66%.
In North America, United States accounted the largest market share of more than 80% in 2015 owing to the driving factor such as increasing demand of 3-d printed micro reactor owing to its relative affordability and high designing capability, growing application segment and increasing demand from end use industries. Moreover, the technological advancements and growing nano pharmaceutils market is driving MRT application in pharmaceuticals industry. As the pharmaceutical markets is becoming mature in the matured economies across the globe, more opportunities are visible in the Nano-pharmaceutics market. The micro reactor technology market growth in the pharmaceutical industry is mainly driven by growing Nano pharmaceutics market. As per MRFR analysis, the Global Nano Medicine Market is estimated to reach USD 100 Bn in 2016 and corresponds to very niche share in the overall pharmaceutical industry. Moreover, Drug Delivery System (DDS) is the prominent application of MRT in Nano pharmaceutics. Canada is the second leading market in North America Micro Reactor Technology Market.
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