According to Future Market Insights, expansion of pilot plants to test and validate production technologies before commercialization has led to a stronger demand for glass reactors. The Global Glass Reactors Market observed moderate decline in its sales volume in FY2020 due to the Covid-19 pandemic.
Global sales of glass reactors are set to be valued at over US$ 820.6 Mn in 2021, with a stable long-term projection, according to the latest insights by Future Market Insights (FMI). A new report estimates the market to expand at over 5.6% CAGR from 2021 to 2031.
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 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 is anticipated to contribute towards market growth in the years to come.
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Key Takeaways from Global 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 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 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.
“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.
Who is winning in Global Glass Reactors Market?
The Glass Reactors market is moderately consolidated, with key players accounting for around 50% of the market share. These players are likely to invest in new technology developments in addition to expanding their distribution networks to maintain their market presence.
Some of the key players in this industry include but are not limited to GMM Pfaudler Ltd., Büchi AG., Corning Incorporated, DE DIETRICH PROCESS SYSTEMS, Radleys, Ace Glass Incorporated, Syrris Ltd and Parr Instrument Company
Global Glass Reactors Market Scope of Report
|Historical Data Available for||2016-2020|
|Market Analysis||USD Million for Value|
|Key Regions Covered||North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa|
|Key Countries Covered||US, Canada, Germany, U.K., France, Italy, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, Australia, New Zealand, GCC Countries, Turkey, and South Africa|
|Key Segments Covered||By Capacity, By Design, By Application, End Use and Region|
|Key Companies Profiled||DE DIETRICH PROCESS SYSTEMSParr Instrument CompanyBüchi AGCorning IncorporatedAce Glass IncoporatedGMM Pfaudler Ltd.Syrris Ltd.RadleysQuark GlassSenco.CC|
|Report Coverage||Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives|
|Customization & Pricing||Available upon Request|
Global Glass Reactors Market by Category
- 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.
- Single jacketed Glass Reactors
- Double Jacketed Glass Reactors
- Pilot Plants
- Mid-Large Scale Production Plants
- Portable Multi-purpose Unit
By End Use:
- Chemical Process Industries
- Petrochemical Refineries
- Research Institutes
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
Find More Valuable in Global Glass Reactors Market Insights
The research report analyzes 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 on the basis of capacity, design, application, end use and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand factors.