Micro Reactor Technology (MRT) is predominantly used in the processes such as chemical synthesis, material synthesis, and process analysis in order to provide a higher surface to volume ratio that can deliver higher stability, efficient heat transfer, and low risk for the explosive and hazardous reactions in a chemical process.
Microreactors offer a number of advantages over conventional scale reactors, including vast improvements in energy efficiency, reaction speed, and yield, safety, reliability, scalability, on-site/on-demand production. These advantages are primarily driving the growth of the Micro Reactor Technology Market on the global platform.
Acknowledging the kind of traction gained by this market, Market Research Future (MRFR) recently published a study report. According to MRFR, continuing with the same trends, the global Micro Reactor Technology market is projected to demonstrate significant growth, valuing at USD 108,927.1 million by 2022 registering 19.05% CAGR during the review period of 2016-2022.
Factors such as increasing demand for 3D printed micro reactor owing to its cost-competitiveness and high designing capability is augmenting the demand for Micro Reactor Technology and eventually is driving its market growth. Burgeoning Nano pharmaceutics market is fostering the market growth, driving MRT application in the pharmaceuticals industry.
On the other hand, factors such as increasing regulations and rising safety concerns in the chemical industry are restricting the market growth to an extent. Also, the factors such as; clogging, scaling up of vessels and corrosion are inhibiting the growth of this market.
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Global Micro Reactor Technology Market – Segments
The global MRT Market can be segmented into four key dynamics for the convenience of the report and enhanced understanding;
By Types: Comprises Disposable and Reusable.
By Applications: Chemical Synthesis, Polymer Synthesis, Process Analysis, and Material Analysis among others.
By End-Users: Specialty Chemicals, Pharmaceuticals, and Commodity Chemicals among others.
By Regions: North America, Europe, APAC and Rest-of-the-World (RoW).
The Disposable type segment accounted for the largest market share in 2015.
Whereas the Chemical Synthesis segment emerged as the leading application segment.
The Specialty Chemicals segment, on the basis of End-Users, accounted for the largest market share in 2015.
While, the Specialty Chemical segment continues to remain at the top position in term of consumptions.
Micro Reactor Technology Market – Regional Landscape
The North America region accounted for the dominating market for Micro Reactor Technology with the largest as in 38% of the market share and is further expected to grow at a significant CAGR throughout the forecast period.
Owing to the growing pharmaceutical sector in the country, the US market witnesses the largest consumer base for the Micro Reactor Technology. Post to the recovering from the recession; companies are focusing more on profits by reducing material composites of high prices, which in turn, has boosted the Micro Reactor Technology market growth in the US.
Globally, Europe accounted for the second-largest market, owning 30% of the global market share. Factors such as the growing applications of the technology in the Chemicals manufacturing, predominantly drive the regional market growth. Owing to the major growth contributor countries such as Germany, UK, and Russia, Europe region is expected to register a phenomenal CAGR over the forecast period.
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The Asia Pacific Micro Reactor Technology market has emerged as one of the lucrative markets, growing rapidly. In 2015, the market captured almost 21% of the total market share. The burgeoning pharmaceutical sector is substantiating the market growth in the various regions of APAC.
Besides the factors such as the presence of a number of vendors providing the technology coupled with the availability of cost-comprehensive labor-force substantiate the regional market growth. Owing to the surging demand for Micro Reactor Technology backed by the ever-increasing investments in the pharmaceutical sector, some of the APAC countries such as India, China, and Japan are accounting for the major growth contributors to the market in the region.
Some of the leaders driving the Global Micro Reactor Technology Market include Little Things Factory, AM Technology, Microinnova Engineering GmbH, Vapourtec Ltd, Thaletec GmbH, Ehrfeld Mikrotechnik BTS, Chemtrix Ltd and Uniqsis Ltd. Profiling them in its analysis MRFR finds out their strategies placing them at the forefront of completion.
June 07, 2018 – Westinghouse Electric Company (US) announced the receiving of the funding of USD 5 million from the U.S. Department of Energy’s (DOE’s) Advanced Research Projects Agency-Energy (ARPA-E) for the development of a self-regulating solid core block (SCB) that employs solid materials instead of bulk liquid flow or moving parts, inherently self-regulating the reaction rate in a nuclear reactor. The development of the SCB is a key component of company’s eVinci TM microreactor concept, a next-generation, the micro modular reactor for decentralized generation markets.
January 15, 2018 – Anton Paar GmbH (Austria) a company involved in development, production, and sales of analytical instruments for laboratories and process analytical technology announced the development (Printing) of a micro-flow-reactor that could simplify the chemical synthesis dramatically. The device, made of steel via direct laser metal sintering is developed within an international research project called “CC Flo” which is the starting point for tailor-made microreactors from the company.
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