The glass reactor market study by Future Market Insights (FMI) uncovers hidden prospects across key segments including capacity and application. It underscores expansions and acquisitions as primary strategies adopted by market players to expand their global footprint.
DUBAI, U.A.E, Aug. 25, 2021 /PRNewswire/ — The global market for glass reactor is anticipated to grow at a CAGR of 5.6% over the forecast period 2021-2031, registering sales of 400 thousand units. Despite the challenges posed by COVID-19 outbreak, the market registered 4.6% year-on-year growth in 2021.
Expansion of chemical and industrial sectors is propelling demand for glass reactors. Sales of glass reactors will soar particularly among pharmaceutical manufacturers as they seek to accommodate futuristic medical solutions. This in turn will also boost investment opportunities in the market.
Among various capacities, 30-60 liters glass reactors are gaining traction as cost effective solutions across industries. Similarly, the demand for single-jacketed glass reactors is increasing steadily. This can be attributed to increasing applications in the chemical and pharmaceutical industries. As per FMI, single jacketed glass reactors will account for over 70% of the market share in 20201.
In the forthcoming years, the market will witness increasing investment in research and development activities as manufacturers are keen to adopt decarbonization technologies. Some of the leading players are therefore joining the bandwagon and focusing on introducing innovations to expand their product portfolio.
Besides these, the demand for pilot plants is on a rise, which will offer a conducive environment for growth. FMI has estimated that pilot plants segment will account for over 40% of global sales.
Regionally, North America will emerge as a highly lucrative market. Demand outlook for the U.S. remains positive due to the presence of a robust healthcare sector and high degree of medical care awareness. According to the study, the U.S. market for glass reactors is expected to total US$ 326.5 Mn by the end of 2031.
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“Increasing investment in research and development activities coupled with expansion of chemical and petrochemical industries is driving the glass reactors market. Apart from this, leading market players are investing in strategic acquisitions and partnerships. This in turn will continue offering lucrative opportunities for growth of the market,” said a FMI analyst.
Key Takeaways from Glass Reactor Market Survey
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The U.S. is the leading market for glass reactors in North America and is expected to surpass a valuation of US$ 326.5 Mn by the end of 2031.
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Demand outlook for China remains optimistic. China market is forecast to expand at a CAGR of 6.4% over the forecast period.
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Germany is estimated to account for over 20% of glass reactor sales within Europe.
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India market is expected to grow at a steady pace, accounting for over 30% sales in the South Asia and Pacific region in 2021.
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Based on design, single jacketed glass reactors are expected to account for over 70% of the market share in 2021.
Key Drivers
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Application in chemical and pharmaceutical industries will remain chief growth driver.
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Increasing investment in healthcare research in the U.K., U.S., and other developed countries will create opportunities for growth.
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Competitive Landscape
Glass reactors manufacturers are focusing on acquisitions, partnerships and business expansion strategies to gain a strong foothold in the market.
For instance, in 2019, GMM Pfaudler announced the acquisition of Industrial Mixing Solutions for 29 crores. This acquisition will help help Pfaudler to improve its industrial mixing business vertical by ushering new product, technologies among others.
In 2019, Büchi AG. laid the premise for the expansion project in Kaliningrad, Russia. The new facility allowed the company to expand its footprint in Europe along with inflated sales into Eastern Europe.
Some of the leading players operating in the glass reactor market profiled by FMI are:
More Valuable Insights on Glass Reactors Market
FMI in its new report offers an unbiased analysis of the global glass reactor market, analyzing forecast statistics through 2021 and beyond. Glass reactors market survey also reveals growth projections with detailed segmentation:
By Capacity:
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Up to 5 Lts.
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5 to 15 Lts
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15 to 30 Lts.
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30 to 60 Lts.
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60 to 100 Lts.
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100 to 300 Lts.
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Above 300 Lts.
By Design:
By Application:
By End Use:
By Region:
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Key Questions Covered in the Glass Reactor Market Report
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The market survey also highlights projected sales growth for glass reactor market between 2021 and 2031
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The report offers insight into glass reactor demand outlook for forecast period 2021-2031.
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Glass reactor market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
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Glass reactor market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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SOURCE Future Market Insights
