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The global hydrogen bromide industry is being driven by the growing demand for fire retardants from various end use industries. The brominated fire safety solutions are widely utilised in consumer electronics, automotive, and construction applications. These solutions prevent the ignition of flammable materials and keep people and property safe. The continuously evolving technologies and rising environmental concerns are resulting in the increased demand for products with low mercury emissions. This is supporting the growth of the hydrogen bromide industry. Some of the major companies in the industry include Albemarle Corporation (NYSE: ALB) and Showa Denko K.K. (OTCMKTS: SHWDY).
The growing industrialisation in the emerging nations is significantly contributing to the industry growth. The rising consumer disposable incomes are resulting in the growth of the automotive and electronics sectors, thus, influencing the major hydrogen bromide manufacturers to shift their production facilities to the regions. In January 2021, Showa Denko K.K. announced its decision to establish a second factory in Shanghai for its subsidiary Shanghai Showa Electronics Materials Co., Ltd. (SSE) in a bid to expand the production of high-purity gases for electronics. Further, the growing collaborations and R&D activities are providing a boost to the industry. In October 2020, Albemarle Corporation, in collaboration with ExxonMobil Catalysts and Licensing LLC developed a transformative hydroprocessing suite of catalyst and service solutions called the Galexia™ platform for the refining industry. Thus, such developments are expected to positively impact the global hydrogen bromide industry over the forecast period.
Market Breakup by Form, Application, End Use, and Regions:
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The major players in the global hydrogen bromide market are Showa Denko K.K., Albemarle Corporation, Air Liquide USA LLC, and Verni Group, 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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