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Global Benzyl Bromide Market to Grow at a CAGR of 6.8% During 2021-2026, Aided by the Increase in the Use of Foaming Agents

According to a new report by EMR titled, ‘Global Benzyl Bromide Market Report and Forecast 2021-2026’, the global market for benzyl bromide is expected to grow at a CAGR of 6.8% in the forecast period of 2021-2026.

The increase in the use of foaming agents in various industries is expected to support the growth of the benzyl bromide industry. This is due to the use of benzyl bromide as a foaming agent in the manufacturing of numerous products. Foaming agents are finding increased adoption in the cosmetics and personal care industry and are already a staple in the formulation and production of pharmaceutical products. Hence, the growth of these industries is also expected to drive the demand for benzyl bromide globally.

In 2017, Vandana Chemicals, a global leader in the production of benzyl bromide, announced its plan to expand its existing plant in Ankleshwar, Gujarat. This would include increased capacity for the production of benzyl bromide as well as higher consumption as a raw material in the production of other chemicals. This is seen as an indicator of the rise in demand for benzyl bromide in the Asia Pacific region.

The steady growth of e-commerce giants such as Amazon.com (NAZDAQ: AMZN) and Alibaba Group (HKG: 9988) has led to a dramatic increase in the sales and distribution of cosmetics and products using dyes, synthetic resins, and others. This is expected to further drive the growth of the global market for benzyl bromide during the forecast period in the downstream sectors.

Market Analysis by Form, Grade, Application, and Region:

  • The market on the basis of form can be divided into powder and liquid.
  • Based on grade, the industry can be divided into reagent grade and technical grade, among others.
  • The applications of the market include perfumes, dyes, pharmaceuticals, synthetic resins, photographic chemicals, plasticisers and esters and others.
  • The regional markets for benzyl bromide include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growing chemical industry is driving the growth of the global market for benzyl bromide.
  • The increasing demand for foaming agents in industries like cosmetics and pharmaceuticals, has increased the production capacity in the benzyl bromide industry.
  • The higher demand for synthetic resins in the face of strict regulation and duties is expected to promote the growth of the benzyl bromide industry.
  • The surge in the pharmaceuticals sector is a key factor in determining the extent of expansion of the benzyl bromide industry during the forecast period.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for benzyl bromide for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) market information for the forms, grades, applications, and major regions of benzyl bromide.
  • It assesses the regional price trends for the 2016-2020) and (2021-2026) periods.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global benzyl bromide market are Luyuan Technology Development Co., Limited, Spectrum Chemical Manufacturing Corp., ShiJiaZhuang Dongcheng Chemical Co., Ltd, and Vandana Chemicals, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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