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Global Hydrogen Bromide Market to Witness a Healthy Growth During 2021-2026, Aided by the Growing Bromine Market

According to a new report by EMR titled, ‘Global Hydrogen Bromide Market Report and Forecast 2021-2026’, the global hydrogen bromide industry is being aided by the global bromine market, which reached USD 3.89 billion in 2020. The bromine market is forecast to grow at a CAGR of 8% between 2021 and 2026 to reach USD 6.17 billion by 2026.

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:

  • By form, the market can be bifurcated into gas and liquid segments. 
  • On the basis of application, the industry has been categorised into biocides, flame retardants, catalyst, oil and gas drilling, and polysilicon etching, among others. 
  • Based on end use, the market is segmented into energy, automotive, electronics, pharmaceutical, construction, agriculture, and water treatment, among others. 
  • Region-wise, the global hydrogen bromide industry can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for hydrogen bromide is being driven by the thriving electronics industry, where the product is primarily utilised as a component of flame retardants and in the plasma etching process.
  • The growing disposable incomes and an increase in sales of consumer electronics are significantly contributing to the industry growth. 
  • The advancement of the oil and gas industry and the growing demand for chemicals are further aiding the industry growth. 
  • The market is receiving further impetus with the development of flow-type batteries and the growing urbanisation in the emerging nations.

Key Offerings of the Report:

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

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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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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