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 single jacketed glass reactors segment will grow 4.3% in 2021 to reach 286 thousand units, while the double jacketed glass reactors segment demand will be up 4.4%, reaching 112 thousand units. Extensive applications in chemical and pharmaceutical processing will contribute to the growth of the market through 2031.
According to Future Market Insights, the expansion of pilot plants to test and validate production technologies before commercialization has led to stronger demand for glass reactors. The glass reactors market observed a moderate decline in its sales volume in FY2020 due to the Covid-19 pandemic.
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Demand from end-use industries including petrochemicals, research institutes, and others have waned. However, parts of the chemical and pharmaceutical sectors were unaffected due to demand generated from Covid-19 precautionary measures.
Demand for single jacketed glass reactors has been steadily increasing. This can be attributed to enhanced applications in the chemical and pharmaceutical industries, owing to which single jacketed glass reactors have secured a prominent share in the global glass reactors market.
The growing requirement for pilot plants due to the increasing adoption of new and advanced technologies coupled with Industry 4.0 norms, support the yield of glass reactors through the forecast period.
An increasing number of players are focusing on research and development related to glass reactors and are anticipated to contribute towards market growth in the years to come.
“The glass reactors market is growing at a strong pace, driven largely by investments in research and development (R&D) activities for the expansion of chemical and petrochemical projects. This will create extensive opportunities for manufacturers through 2031. Industry participants are investing in expansions, strategic alliances, and cost-effective solutions to gain a competitive advantage,” says a Future Market Insights analyst.
Key Takeaways from Glass Reactors Market Study
• Glass reactors with a capacity of 30 to 60 Lts. are projected to hold over 35% value share of the global market in 2021, owing to a wider scope of application.
• Single jacketed glass reactors are set to hold 71.8% of the market share by the end of the forecast period, aided largely by cost considerations.
• The U.S. will remain a primary market, backed by rising demand from the pharmaceutical and chemical process sector. It is expected to account for 77.1% of the demand registered in North America in 2021.
• The markets in India and China are set to surge at a CAGR of approximately 6.4% and 6.1% over the coming decade, aided by investments in the pharma sector.
• The U.K. is emerging as a key market in Europe, with a valuation of over US$ 34.6 Mn in 2021, growing at a 5.8% CAGR with rising investments in the research sector.
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Competitive Landscape
Companies operating in the glass reactors market are aiming at strategic collaborations and partnerships with other manufacturers to expand their product portfolio and capacity, addressing the demand of an expanding consumer pool.
• For instance, in April 2019, Pfaudler Group acquired the Industrial Mixing Solutions Division (IMSD, www.sudarshan-imsd.com) of Sudarshan Chemical Industries Ltd., Pune.
Manufacturers are also focusing on the expansion of manufacturing facilities globally to maintain their global presence.
• In December 2019, Büchi AG. laid the foundation stone for the expansion project in Kaliningrad, Russia. The new facility enabled the company to increase its footprint in Europe, expand sales into Eastern Europe, and better address its customers’ needs by producing more products and services.
Some of the prominent players operating in the Global Glass Reactors Market profiled by FMI are:
• DE DIETRICH PROCESS SYSTEMS
• Parr Instrument Company
• Büchi AG
• Corning Incorporated
• Ace Glass Incorporated
• GMM Pfaudler Ltd.
• Syrris Ltd.
• Radleys
• Quark Glass
• Senco. CC
Find More Valuable Insights
The research report analyzes the demand for glass reactors. The global glass reactors market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends, and market background. As per Future Market Insights, the market has been analyzed based on
By Capacity:
• Up to 5 Lts.
• 5 to 15 Lts
• 15 to 30 Lts.
• 30 to 60 Lts.
• 60 to 100 Lts.
• 100 to 300 Lts.
• Above 300 Lts.
By Design:
• Single jacketed Glass Reactors
• Double Jacketed Glass Reactors
By Application:
• Pilot Plants
• Mid-Large Scale Production Plants
• Portable Multi-purpose Unit
By End Use:
• Chemical Process Industries
• Petrochemical Refineries
• Pharmaceutical
• Research Institutes
By Region:
• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East and Africa (MEA)
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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