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CHEMICALS AND ADVANCED MATERIALS

Calcium Bromide Market Segmentation by Product Type (7789-41-5 Anhydrous, 22208-73-7 Dihydrate, and 7774-34-7 Hexahydrate); by Application (Latex, Thermally Stimulated Recovery, Ribbed Smoked Sheet, and Others); and by End-User Industry (Automotive, Oil & Gas, Energy Production, and Others) – Global Demand Analysis & Opportunity Outlook 2031

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IN THE NEWS

  • April 8, 2022: Shandong Dongxin New Materials Technology Co., Ltd. to publish a report on the brominated SBS and its environment-friendly flame retardant properties which is expected to provide a green future for thermal insulation materials such as, EPS, XPS, and others. 

  • August 7, 2019: Jordan Bromine Company to collaborate with the Civil Defence Department to demonstrate the field of training, emergency planning, community planning, and communication and to discuss the utilization of the company’s product.

Global Calcium Bromide Market Highlights Over 2022 - 2031

The global calcium bromide market is estimated to garner a robust revenue by growing at a CAGR of ~6% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the growing demand in multiple industries, such as, gas & oil, energy production and others. For instance, more than 4 billion metric tons of oil are manufactured globally. Meanwhile, the daily demand for oil in 2022 is estimated to be around 91 million barrels. An up-surged demand for calcium bromide in the energy production industry is also anticipated to hike the growth of the market. As of 2020, global energy consumption was projected to be at almost 550 exajoules.  Calcium bromide is used in various compounds that are utilized for high-density clear drilling and packing fluids to maintain the pressure of the wellbore. It is further utilized to decrease the emission of mercury from the coal-fired power plant. Calcium bromide is also utilized in the form of powder in freezing mixtures, photography, neuroses, fire retardants, and others. In 2019, the fire retardants industry was valued at over USD 5 billion globally.  All these factors are anticipated to influence the growth of the market positively during the forecast period.

Calcium Bromide Market

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The market is segmented by end-user industry into automotive, oil & gas, energy production, and others. Out of these, the oil & gas segment is anticipated to hold the notable share in the global calcium bromide market during the forecast period on account of the higher utilization of calcium bromide in the industry. Calcium bromide is widely used as a fluid completion in oil drilling. Such factors are estimated to boost the segment growth in the future.

Major Macro-Economic Indicators Impacting the Market Growth

Chemicals (% of Value Added in Manufacturing) – 2016-2018

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in the future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, which accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. The easy availability of low-cost raw materials & labor, as well as government subsidies and relaxed environmental norms, have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for investment in businesses in Asia Pacific countries in the upcoming years.

Global Calcium Bromide Market Regional Synopsis

Regionally, the global calcium bromide market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the North America region is estimated to witness modest growth over the forecast period on the back of increasing shale gas production in the region. It is observed that shale gas and tight oil production in the United States was 24 trillion cubic feet in 2021. Furthermore, calcium bromide is extensively used in deep-sea exploration. According to the data released by Oceanic and Atmospheric Research (OAR), in 2022, USD 4.42 billion of investment has been provided by the government of the region for deep-sea research and operations. Hence, on the back of growing initiatives by the government for deep-sea exploration, the global calcium bromide market is anticipated to grow during the forecast period. Moreover, the increased instances of horizontal drilling owing to reservoir complexities are also predicted to fuel the market growth in the region during the forecast period. 

The Asia Pacific region is also projected to provide lucrative opportunities for the growth of the global calcium bromide market during the forecast period. The countries such as, India and China are also allotting a plethora of budgets for activities such as deep-sea exploration. On the back of the rising investment in sea exploration activities the global calcium bromide market is anticipated to exhibit remarkable growth.

Calcium Bromide Market Share

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The global calcium bromide market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook

  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook

  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global calcium bromide market includes the following segments:

By Product Type

  • 7789-41-5 Anhydrous
  • 22208-73-7 Dihydrate
  • 7774-34-7 Hexahydrate

By Application

  • Latex
  • Thermally Stimulated Recovery
  • Ribbed Smoked Sheet
  • Others

By End-User Industry

  • Automotive
  • Oil & Gas
  • Energy Production
  • Others

Growth Drivers

  • Rising Demand in Multiple Industries, such as, Gas & Oil and Energy Production
  • Significant Utilization in the Decrement of Mercury Emission from the Coal-Fired Power Plant

Challenges

  • Availability of Alternative Chemicals in the Market

Top Featured Companies Dominating the Market

  • Weifang Rixing Chemical Co., Ltd.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • TETRA Technologies, Inc. 
  • Shandong Dongxin New Materials Technology Co., Ltd.
  • Albemarle Corporation 
  • Shouguang Hon Hai Chemical Co., Ltd. 
  • Lanxess AG
  • Neogen Chemicals Limited
  • Jordan Bromine Company
  • IRO GROUP INC.
  • ICL Industrial Products Ltd.

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