It is estimated that during the forecast period from 2021 to 2031, the global market for glass reactors will grow at a compound annual growth rate of 5.6%, and sales will reach 400,000 units. Despite the challenges posed by the COVID-19 outbreak, the market still achieved a year-on-year growth of 4.6% in 2021.
The expansion of the chemical and industrial sectors has driven the demand for glass reactors. Sales of glass reactors will soar, especially among pharmaceutical manufacturers, as they seek medical solutions that adapt to the future. This in turn will increase investment opportunities in the market.
Among various capacities, 30-60 liter glass reactors are gaining more and more attention as a cost-effective solution across industries. Similarly, the demand for single-jacketed glass reactors is also steadily increasing. This can be attributed to more and more applications in the chemical and pharmaceutical industries. According to FMI, by 20201, single-jacketed glass reactors will account for more than 70% of the market share.
In the next few years, as manufacturers are keen to adopt decarbonization technologies, the market will witness increased investment in R&D activities. Therefore, some leading companies have joined this trend and focused on introducing innovations to expand their product portfolios.
In addition, the demand for pilot plants is rising, which will provide a favorable environment for growth. FMI estimates that the pilot plant sector will account for more than 40% of global sales.
From a regional perspective, North America will become a lucrative market. Due to the existence of a strong healthcare sector and a high level of healthcare awareness, the outlook for demand in the United States remains optimistic. According to the research, by the end of 2031, the US glass reactor market is expected to reach 326.5 million U.S. dollars.
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“Increased investment in R&D activities and the expansion of the chemical and petrochemical industries are driving the glass reactor market. In addition, leading market players are investing in strategic acquisitions and partnerships. In turn, this will continue to provide market growth Profitable opportunity,” FMI analysts said.
The key points of the glass reactor market survey
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Glass reactor manufacturers are focusing on acquisitions, partnerships and business expansion strategies to gain a firm foothold in the market.
For example, in 2019, GMM Pfaudler announced the acquisition of Industrial Mixing Solutions for 2.9 billion rupees. This acquisition will help Pfaudler improve its vertical industrial hybrid business by introducing new products and technologies.
In 2019, Buchi Joint Stock Company. Laid the foundation for the expansion project in Kaliningrad, Russia. The new facility enables the company to expand its European footprint while increasing sales in Eastern Europe.
Some of the leading companies operating in the glass reactor market introduced by FMI are:
More valuable insights on the glass reactor market
In its new report, FMI conducted a fair analysis of the global glass reactor market, analyzing forecast statistics for 2021 and beyond. The glass reactor market survey also revealed detailed segmented growth forecasts:
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