Chemical Reactors: Market Overview
Globally, the industrial sector in any geographical region plays a vital role in the growth of the economy through manufacture, export or other means. The global economy is supported by increased industrial production globally. The chemical sector is an important entity that influences growth of a region in many aspects. It has been experiencing promising growth over the last couple of years and is expected to thrive with the same potential over the next few years. Manufacturing of chemicals involves several operations and the primary equipment required for production are chemical reactors. Chemicals reactors are vital equipment of any chemical process industry. A chemical reactor is a vessel that contains reaction mass for manufacturing of various chemicals, in which mass transfer, heat transfer, friction, diffusion and other processes take place. A chemical reactor ensures safety and uninterrupted flow of process.
The economics of overall chemical process are determined and primarily depend upon chemical reactor. The prime element of any chemical reactor is the material balance of the reaction and heat and mass transfer of the same. Several factors, such as raw materials used and their chemical and physical characteristics, thermodynamic behavior of every component taking part in the reaction, reaction rate, heat of the reaction, corrosion and erosion characteristics, are considered before designing any chemical reactor.
Chemical reactors have several components, such as a jacket that can increase or reduce the temperature as per the reaction mass demand, internal coils that provide heat to reaction mass when needed, an external heat exchanger that is used for circulation purpose, the cooling effect that may help while transferring reaction mass from one reactor to other, an agitator that mixes the reaction mass homogenously and instrumentation controls that control the temperature and pressure throughout the reaction time.
The chemical reactors market is experiencing substantial growth and is expected to expand with a double-digit CAGR in during the forecast period, owing to the significant application of reactors in the chemical industry.
Chemical Reactors Market: Regional Outlook
Supply of various chemicals is dominated by Asia Pacific region across the globe, with significant chemicals production volumes, China is expected to lead the chemical reactors market followed by North America and European region.
Increasing degree of fragmentation in supply of bulk and agrochemicals across the globe is expected to be a key driver in the global chemical reactors market. Replacement and refurbishment activities in established economies are further expected to drive growth in global chemical reactors market.
Chemical Reactors Market: Key Players
Key players identified in the global chemical reactors market are Bepex International LLC, SV Equipments, McGean-Rohco Inc, Oxkem Limited, Kalina Engineering Pvt. Ltd, Pratik Engineering, Hexamide Agrotech Inc, Dharma Engineering and Sigma Scientific Glass Pvt. Ltd.
Chemical Reactors Market: Key Opportunities
Increasing opportunities in end use industries are expected to propel the growth of the chemical reactors market. On the basis of competitive landscape, the market is classified into organized and unorganized sectors. Prominent players are focusing on adopting alternative distribution channels, such as online sales, to further strengthen their market presence in the regional as well as global market. Majority of key players are focusing on acquiring small players, whereas small-scale companies need to make significant investments in R&D to introduce new products and enhance their presence across the globe. Low cost production could substantially help these players to raise their market revenue share. Emphasis on product innovation along with focus on sales through direct distribution are the two major differentiating factors that enable organized players to hold significant market shares in the global and regional markets.
Research Methodology: Chemical Reactors Market
The research methodology for the chemical reactors market is based on the several macroeconomic factors, supply and demand based driving factors, which can influence the market trends. In addition to this, we identify and allocate a weighted score to forecast factors that influence the demand for target products. These factors are the representative of an entire value chain, as well as the macro-economic indicators such as per capita consumption pattern in respective geographies. We then map the historical growth rate and future growth projections of these factors with estimated year data (base year) and arrive onto growth forecast for targeted types in each country.
Brief Approach to Research
FMI will follow a modelling-based approach and triangulation methodology to estimate chemical reactors market data covered in this report. A detailed chemical reactors market understanding and assessment of the nature, product type and end uses of the product segments covered in the study is followed by a demand-side analysis to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level and consolidated and synthesized at a global level to estimate the overall market sizes.
Chemical Reactors: Product Definition and Segmentation
The chemicals reactors market can be segmented on the basis of the following criteria:
On the basis of mode of operation, chemical reactors market can be segmented as:
- Batch Type
- Semi Batch
- Plug Flow Reactor
- Tubular Flow Reactor
On the basis of material of construction, chemical reactors market can be segmented as:
- Mild Steel
On the basis of size, chemical reactors market can be segmented as:
- Below 10 KL
- 10 KL– 15 KL
- Above 15 KL
On the bass of classification of end use, chemical reactors market can be segmented as:
- Polymerization Reactors
- Electrochemical Reactors
On the basis of end use industry, chemical reactors market can be segmented as:
- Food & Beverages
- Pulp & Paper
- Other Industrial
Key Data Points Covered in the Report
Some of the key data points covered in our report include:
- An overview of the chemical reactors market, including background and evolution
- Macroeconomic factors affecting the chemical reactors market and its potential
- Market dynamics, such as drivers, challenges and trends
- Technology roadmap involved from inception period to present date
- Detailed value chain analysis of the chemical reactors market
- Cost structure of the products and segments covered in the global chemical reactors market
- In-depth pricing analysis, by key product segments, regions and by major chemical reactors market participants
- Analysis of supply and demand, such as top producing and consuming geographies, imports/exports and overall trade scenario in the global chemical reactors market
- Analysis of the global chemical reactors market structure, including a tier-wise categorization of key chemical reactors market participants
- Competitive landscape of the market, including detailed profiles of top players in the chemical reactors market
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.