As per newly released data by Future Market Insights (FMI), the glass reactor market is expected to register year-on-year (YoY) growth of 4.6% in 2021, registering sales of 400 thousand units.
The demand for single-jacketed glass reactors will rise 4.3% to 286 thousand units in 2021, while demand for double-jacketed glass reactors will rise 4.4% to 112 thousand units. Extensive applications in chemical and pharmaceutical processing will drive market growth through 2031.
The glass reactors market will grow at a 5.6% CAGR between 2021 and 2031, compared to a 3.8% CAGR between 2016 and 2020, owing to a focus on research and development and increased investments in the industrial sector.
Pharmaceutical producers’ demand will rise as they try to meet the growing demand for advanced medical solutions. This will also increase market investment opportunities. Leading biopharmaceutical companies are concentrating their efforts on expanding their product portfolio across multiple countries. Some businesses are collaborating directly with academic institutions to improve their industrial research activities.
Consumer concern about sustainability has prompted energy and chemical companies to investigate decarbonization technologies and reassess their assets, encouraging the chemical industries to invest in research and development (R&D) activities. These factors are expected to drive glass reactor sales in the coming years. The United States is a major consumer of glass reactors.
In the coming years, the demand for glass reactors will rise amid the expansion of the chemical and industrial sectors. North America is predicted to remain one of the most attractive markets during the forecast period, according to Future Market Insights. According to the study, the U.S. is expected to be the largest market in North America reaching US$ 326.5 Mn by 2031.
Over the forecast period, demand in China is expected to rise at a nearly 6.4% CAGR. China’s industrial sector is supported by the government and is supported by well-developed infrastructure. It is not surprising that China has the highest level of expenditure in the world.
Germany is one of the world’s leading pharmaceutical manufacturers. It is expected to account for more than 20% of glass reactor sales in Europe by 2031. In 2021, India will account for more than 30% of sales in South Asia and the Pacific. Government initiatives to strengthen the industrial and petrochemical sectors are expected to supplement India’s industrial development.
Key Players:
- DE DIETRICH PROCESS SYSTEMS
- Parr Instrument Company
- Büchi AG
- Corning Incorporated
- Ace Glass Incorporated
- GMM Pfaudler Ltd.
- Syrris Ltd.
- Radleys
- Quark Glass
- Senco. CC
