Global Hydrobromic Acid Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028
“Global Hydrobromic Acid Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global hydrobromic acid market report has been segmented on the basis of type, application, and region
Global Hydrobromic Acid Market: Overview
Hydrobromic acid (HBr) is an aqueous solution that is used as an important chemical in the various manufacturing process. HBr is used in making of biocides it helps in controlling microorganisms and save energy in cooling towers, and decorative fountains. Peroxides, ketones, and other acids are produced with the help of hydrobromic acid.
Hydrobromic acid is a colorless liquid which is significantly denser than water and has a sharp, irritating odor. It is nonflammable but is highly corrosive to most metals. Hydrobromic acid is an effective cleaning agent and helps in removing tough mineral scale from interiors of boilers that are used in industrial plants and commercial heating systems.
Global Hydrobromic Acid Market: Dynamics
The wide applicability of Hydrobromic acid in industries for the production of inorganic bromides such as bromides of calcium, sodium, and zinc which is a major factor expected to drive growth of the global market. In addition, rapid industrialization in developed and developing countries and increasing product activities by oil & gas industries is resulting in rising demand for hydrobromic acid which further expected to boost growth of the market.
Increasing demand for hydrobromic acid from various end-use industries as a catalyst in various manufacturing processes is another factor expected to further support growth of the global market.
However, critical storage and transportation of hydrobromic acid and stringent government regulations related to the use of hydrobromic acid are major factors expected to hamper growth of the global market. In addition, various side-effects of hydrobromic acid on human health is limiting the adoption which is another factor expected to challenge growth of the target market.
Increasing investment for R&D activities is expected to create new opportunities in terms of revenue for players operating in the target market over the forecast period.
Global Hydrobromic Acid Market: Segment
Among the type segments, 48% HRr segment is expected to dominate in the target market over the forecast period.
Among the application segments, the inorganic bromides segment is expected to contribute significant revenue shares in the target market over the forecast period.
Global Hydrobromic Acid Market: Region
The market in the Asia Pacific is expected to dominate the global market and is expected to continue its dominance over the forecast period. this dominance can be attributed to increasing demand from various end-use industries and the presence of major manufacturers operating in the emerging economies in this region. In addition, increasing merger and acquisitions activities between regional and international players are expected to further support growth of the target market in this region.
The market in North America and Europe are expected to contribute significant revenue shares, owing to the presence of prominent players operating in countries in this region. In addition, growing partnerships and agreements are expected to further support growth of the target market in this region.
Global Hydrobromic acid Market Segmentation:
Segmentation by type
- 48% HBr
- 62% HBr
Segmentation by application
- Inorganic Bromides
- Organic Bromine
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Albemarle Corporation
- Chemtura Corporation
- Jordan Bromine Company Ltd.
- Tosoh Corporation
- Tata Chemicals Limited
- Shandong Haiwang Chemical Co. Ltd.
- Shouguang Weidong Chemical Co. Ltd.
- Shandong Tianyi Chemical Co., Ltd.
- Shandong Tianxin Chemical Industry Co. Ltd.
- Weifang Longwei Industrial Co. Ltd.
- Qingdao Haoyuan Group Co., Ltd.
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