What Does The Hydrogen Bromide Market Report Reflect On The Expected Market Size And Growth Rate?
The hydrogen bromide market size has been on an upward trajectory in recent years. From $4.15 billion in 2024, it is projected to reach $4.45 billion in 2025, indicating a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period is influenced by factors such as the pharmaceutical and agrochemical manufacture, utilization in consumer electronics, flame-retardant applications, and development of the chemical and oil and gas sectors.
Forecasted market size indicates continued growth as the market is projected to reach $6.01 billion in 2029 with an impressive CAGR of 7.8%. The growth drivers include increasing demand for pharmaceuticals, expansion of energy storage, widened application scope in semiconductor manufacturing, a rising trend in chemical synthesis, focus on environmental compliance, and emergence of hydrogen economy initiatives. Major trends include strategic partnerships, product innovations, technological advancements, and expansion investments.
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What Are The Key Growth Drivers In The Hydrogen Bromide Market?
The hydrogen bromide market is driven by increasing demand from the textile industry. The textile industry utilizes Hydrogen bromide (HBr) in the production of flame retardants, which are mandatory in ensuring fabrics comply with fire safety standards. Industries that need these standards specifically include clothing, upholstery, and industrial textiles. For example, US textile and apparel exports reached $34 billion in 2022 compared to $28.4 billion in 2021, according to Textile World. This rise signaled an increased demand for textiles, consequently driving the hydrogen bromide market.
What Are The Major Market Segments Within The Global Hydrogen Bromide Market?
1) By Type: Biocides, Flame Retardants, Catalyst, Oil And Gas Drilling, Polysilicon Etching, Other Types
2) By Form: Gas, Liquid
3) By End-Use Industry: Water Treatment, Electronics, Construction, Agriculture, Automotive, Other End-Use Industries
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Which Major Players Are Operating In The Hydrogen Bromide Market?
Major corporations operating in the hydrogen bromide market include Air Liquide S.A., Bhavika Chemicals Corporation, Gulf Resources Inc., Linde PLC, Neogen Chemicals Ltd., Matheson Tri-Gas Inc., Praxair Inc., Tata Chemicals Limited, Triveni Interchem Pvt. Ltd., Albemarle Corporation, Chevron Phillips Chemical Company LLC, Lanxess AG, Verni Gas Corporation, Showa Denko K. K., Jiangsu Lanfeng Biochemical Co. Ltd., Astitva Chemicals, Arkema S.A., Honeywell International Inc., Tosoh Corporation, Tokyo Chemical Industry Co. Ltd., Jiangsu Furen Group, and Denko Corporation.
What Are The Key Trends In The Hydrogen Bromide Market?
A key trend in the hydrogen bromide market is the expansion of hydrogen bromide facilities by the major market players. The financial and strategic benefits include revenue generation opportunities, diversification, long-term growth, and addressal of environmental concerns and supply chain vulnerabilities. For instance, Albemarle Corporation, a US-based chemical company, invested up to $540 million in November 2022 to expand and modernize its two bromine facilities in Magnolia, Arkansas, USA, aiming to meet the growing demand for brominated products used in various industries, including those that utilize hydrogen bromide such as fire safety, chemical synthesis, and green energy.
Which Region Is Expected To Drive The Growth In The Hydrogen Bromide Market?
Asia-Pacific dominated the market share in the hydrogen bromide market in 2024, followed by Western Europe, Eastern Europe, North America, South America, Middle East, and Africa as additional regions covered in the report.
What Does The Hydrogen Bromide Market Report 2025 Offer?
Hydrogen bromide, an irritant gas that transforms into hydrobromic acid when dissolved in water, is colorless and emits a pungent odor in damp air. Its catalytic properties are utilized to produce inorganic and organic bromine compounds, as well as zinc, sodium, and calcium bromides. The Hydrogen Bromide Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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