Report Ocean recently released a research report on the Hydrogen Bromide Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The global hydrogen bromide market revenue was around US$ 4.5 billion in 2021 and is estimated to reach US$ 6.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 4.9% during the forecast period from 2022 to 2031.
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Hydrogen bromide (HBr) is a water-soluble gas that can also be created as an aqueous solution by the chemical reaction between hydrogen and bromine. It functions as both a reducing agent and a catalyst in reactions. When hydrogen bromide and water are combined, it creates a hydrobromic acid. This is a strong acid that is predominantly utilized in industry.
Factors Influencing Market Growth
An increase in high-capacity battery consumption to fulfill rising energy demands is expected to drive the market.
Hydrogen bromide is used in the semiconductor industry in the etching process of poly-silicon wafers, which are utilized to make chips. In addition, it is employed across the board in the manufacturing of numerous circuit boards. This aspect is anticipated to fuel market growth.
Hydrogen bromide is used in the pharmaceutical sector particularly the chemical content of medicines. The rising global demand for efficient medicines is anticipated to drive the demand of the market.
Hydrogen bromide can affect the eyes and make breathing difficult. The human body could suffer after being exposed to this gas for an extended period of time. It is heavier than air and extremely corrosive. Thus, these hamper the market growth.
Study of the COVID-19 Pandemic
The COVID-19 pandemic had a negative impact on the hydrogen bromide market. There was a scarcity of labor and raw materials due to the lockdown and other limitations imposed by governments to stop the spread of illnesses, which further impact the market’s supply chain. However, following the pandemic, the restrictions were removed and the supply chains returned to normal, industry participants in this market looked for ways to lessen the impact of the pandemic on their businesses.
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Regional Insights
Asia Pacific contributed the largest market share during the forecast period. The rising demand for hydrogen bromide use in Japan, China, South Korea, and India is the main factor driving the global market. Middle-class disposable income and rising infrastructure development in Japan and South Korea increased the demand for flame retardants. They are widely used in insulation and the production of electronic components and plastic.
Furthermore, the growth of the pharmaceutical industries in South Korea and Japan is anticipated to drive the regional market.
Leading Competitors
The leading competitors in the global hydrogen bromide market are:
Air Liquide
Albemarle Corporation
Bhavika Chemicals Corporation
Chevron Phillips Chemical Company
Gulf Resources Inc
Lanxess
Linde plc
Matheson Gas
Neogen Chemical Ltd
Showa Denko K.K
Sontara Organo Industries
Tata Chemicals Ltd
Tosoh Corporation
Triveni Interchem Private Limited
Verni Gas Corporation
Others
Segmentation Analysis
The global hydrogen bromide market segmentation focuses on Type, End-Use Industry and Region.
Segmentation based on Type
Biocides
Flame Retardants
Catalyst
Oil and Gas Drilling
Polysilicon Etching
Others
Segmentation based on End-Use Industry
Water Treatment
Electronics
Construction
Agriculture
Automotive
Others
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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Table of Content
Chapter 1: Global Hydrogen Bromide Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Hydrogen Bromide market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Hydrogen Bromide Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Hydrogen Bromide market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Hydrogen Bromide market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Hydrogen Bromide market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Hydrogen Bromide market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Hydrogen Bromide business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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