In 2024, the North American market for flow chemistry, a technology used in a variety of industries including pharmaceuticals and petrochemicals, experienced notable changes. Major drivers of this market included increasing research and development budgets in the pharmaceutical industry, heightened demand for cost-efficient and sustainable industrial processes, and stringent environmental regulations requiring cleaner production methods. For instance, the US Environmental Protection Agency's regulations enforced in the chemical manufacturing sector prompted many businesses to adopt flow chemistry. Simultaneously, trends that shaped the North American flow chemistry market encompassed a shift towards continuous processing in the chemical sector, the rising popularity of flow chemistry courses in academic institutions, and a marked increase in joint ventures and strategic alliances amongst key players.
In particular, partnerships between technology providers and pharmaceutical companies were evident, such as the collaboration between Velocys, a key flow chemistry equipment provider, and British Petroleum in the US. The healthcare sector, primarily pharmaceuticals, and the manufacturing sector, notably petrochemicals and agrochemicals, emerged as significant customers. Additionally, governmental bodies participated in the market indirectly through policy enforcement and funding support, thereby influencing market dynamics in 2024.