Hydrogen Bromide Market Report 2022: Favorable Regulations on the Use of Bromine Helping Boost Growth - ResearchAndMarkets.com
The "Hydrogen Bromide Market By Type, By End-use Industry: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering
DUBLIN--(BUSINESS WIRE)--Nov 11, 2022--
The "Hydrogen Bromide Market By Type, By End-use Industry: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The hydrogen bromide market attained $4.0 billion in 2021, and is projected to reach $6.3 billion by 2031, growing at a CAGR of 4.9% from 2022 to 2031.
As a solvent, hydrogen bromide is used to produce a variety of compounds and medications. It is primarily utilized to create inorganic bromides, particularly sodium, calcium, and zinc bromides, which are employed in chemically synthesizing fire retardants, industrial drying, textile finishing, engraving, and lithography, as well as photography, medicines, and industrial drying.
Hydrogen bromide is widely used because of its electronic applications for both, small and large consumer electronics devices, such as massagers, vacuum cleaners, refrigerators, washing machines, vacuums, computers, phones, smoke detectors, electric tools, and lamps. This is due to the growing demand from the electronic sector and its use due to digitization. In addition, it is used in the production of brominated fluorocarbons for aerosols, refrigeration, and fire extinguisher.
Diluted HBr is utilized in holography, cleaning supplies and household care, and pharmaceutical industry, for use in the specific chemical composition of drugs. The global hydrogen bromide market is expected to increase in the near future due to favorable regulations on the use of bromine, due to its harmless nature in the atmosphere. Hydrogen bromide finds its application in oil and gas drilling operations, and the growing oil and gas industry is expected to further drive the global hydrogen bromide market growth.
The market for hydrogen bromide is diminishing as a result of its increasing restrictions, as it can cause a variety of harmful health impacts from inhalation, whether the exposure is short-term or long-term. Dermatitis may develop after prolonged exposure to high doses. Laryngeal spasm and pulmonary edema are frequent side effects of severe exposures. Ingestion results in stomach and mouth burning. If an individual inhales phosphorus tribromide and hydrogen bromide accidently, it results in the formation of lung infiltrates compatible with chemical pneumonitis. Several people developed acute pneumonitis and reactive airways dysfunction syndrome after taking a hot tub bath.
The main factors restraining the market's growth are huge danger of substitution and the environmental issues associated with the use of hydrogen bromide. Due to the recent global chip shortage, there is a wide spectrum of opportunities for expansion of the hydrogen bromide market. Hydrogen bromide is used in the etching process of polysilicon wafers, which are used to make chips in the semiconductor industry. Besides, it is also used in the production of some industrial printed circuit boards. With the development of electronics and construction industries, the demand for bromine-based flame retardant application is expected to increase. China is one of the main markets for zinc-bromine batteries, due to the growth of the electric vehicle market in the region. This factor is likely to provide lucrative opportunities to the hydrogen bromide market. Rise in demand for effective treatments globally is also expected to drive the demand for hydrogen bromide during the forecast period.
High demand for hydrogen bromide is anticipated during the forecast period due to increase in demand for electronic chips in Japan and South Korea. The need for advanced semiconductors in the electronics sector of rising countries in the Asia-Pacific area, including China, India, Indonesia, Japan, and South Korea, is expected to present profitable prospects for the region's hydrogen bromide producers.
The hydrogen bromide market is segmented into application, end-use industry, and region. Depending on application, it is categorized into biocides, flame retardants, catalyst, oil and gas drilling, polysilicon etching, and others. On the basis of end-use industry, it is categorized into automotive, water treatment, electronics, construction, agriculture, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Key Market Segments
By Type
By End-use Industry
By Region
Key Market Players
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: HYDROGEN BROMIDE MARKET, BY TYPE
CHAPTER 5: HYDROGEN BROMIDE MARKET, BY END-USE INDUSTRY
CHAPTER 6: HYDROGEN BROMIDE MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
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SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/11/2022 09:00 AM/DISC: 11/11/2022 09:02 AM
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