Micro Reactor Technology Market – Overview
Micro Reactors’ applications in chemical, material and process analysis has largely improved the growth scope of the market. Market Research Future who issues market reports related to the chemicals & materials sector among other sectors recently published a report on the market scenario of this sector. The growth of this market in terms of revenue is anticipated to reach USD 108928 million by 2022 while expanding with a CAGR of 19.05%.
The pace of development in various sectors has increased the need for appropriate innovations to keep up the process of development. Micro reactor are one such device that is undergoing such a phase of development. Unparalleled growth trends in the micro process engineering domain have provided a stimulus based on which the expansion of the sector is occurring. Rising use of 3D technology in the sector has been an important application contributing rapidly to the growth of the sector.
The industry for Micro Reactor Technology includes categories such as applications, types, and end users globally. The types segment is divided into reusable and disposable. Among the types, disposable has registered the biggest market share, whereas chemical synthesis has become the top application segment. The applications segment for micro reactor technology is divided into chemical synthesis, material analysis, polymer synthesis, process analysis and others. The end users category of the segment are specialty chemicals, commodity chemicals, pharmaceuticals and others. In the end user category, specialty chemicals have captured the main market share in 2015.
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Detailed Regional Analysis
The Micro Reactor Technology Market has been segregated into five major region such as Europe, North America, Asia-Pacific, Middle East & Africa and Latin America. North America has appeared as one of the foremost markets among these regions. The regions following North America are Europe and Asia-Pacific. The market in North America is one of the most lucrative markets for Micro Reactor Technology which has directly created an affirmative impact on the MRT manufacturers and persuaded them to grow the installation capacity to meet the future demand. The market for Micro Reactor Technology in North America is expected to reach USD 40,574 million by 2022 with a growing CAGR of 18.66%.
Global Competitive Analysis
The industry players in the segment are effectively utilizing their primary resources to initiate long lasting growth changes as the sector transforms. This transformation has also set off a trend of mass growth that has been perceived by industry professionals in the market lately. To better adapt to the new scenario, the sector is undergoing significant change which has increased the growth pace of the sector. Companies in the market are targeting to gain a considerable share of the market segment by experimenting with advantage points. The most successful opportunities for this sector’s long term development can be tapped by ongoing process enhancements and preserving financial flexibility to invest in optimal strategies.
The Global Micro Reactor Technology includes industry players such as AM Technology, Microinnova Engineering GmbH, Little Things Factory, Thaletec GmbH, Uniqsis Ltd, Vapourtec Ltd, Ehrfeld Mikrotechnik BTS, Chemtrix Ltd among other industry players.
The researchers at the School of Chemistry at Cardiff University have found a novel method of improving reactions for usage in organic chemistry. The team created an electrochemical microreactor by using additive manufacturing technology. The 3D printed microreactors can be quickly made within a matter of hours in to a number of designs based on the conditions of the reaction, and at a much lesser cost than other microreactors. The new microreactor was tested on synthesis of isoindolinones, which occur in many natural products such as pharmaceuticals and biologically active molecules, so as to determine the optimum conditions for reactions taking place with the 3D printed microreactor.
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