Market Synopsis of Global Micro Reactor Technology Market
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%.
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Key Market Players
The key players in Global Micro Reactor Technology Market Report included are AM Technology, Little Things Factory, Microinnova Engineering GmbH, Thaletec GmbH, Vapourtec Ltd, Ehrfeld Mikrotechnik BTS, Uniqsis Ltd, Chemtrix Ltd and others.
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.
- Global Micro Reactor Technology Market is projected to reach USD 108,927.1 million by 2022 with 19.05% CAGR during review period of 2016-2022.
- North America accounted for largest share due to growing application industries in this region.
- Among types, disposable has acquired the market share of 71% in 2015 with the market value of USD 23,043.8 million growing at a CAGR of 18.96% till forecast period.
- Among applications, chemical synthesis emerged as the leading segment in Global Micro Reactor Technology Market.
- Among end users, specialty chemicals remains on top in term of consumptions.
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