Calcium Bromide Market Trends

Growth Drivers

• Growing Activities in Coal Mining– For instance, in 2020 approximately 490 metric tons of coal were produced while in the United States, this amount was projected to hit around 480 metric tons. In the OECD region, 1400 metric tons of coal were estimated to be mined while in China alone, more than 3500 metric tons of coal were produced in 2020. Other countries such as India produced around 800 Metric, Indonesia 500 Mt, Russia 300 Mt, EU 300 Mt, and others in a similar year.
  Calcium bromide is sprayed in coal mines to limit the emission of mercury. Coal combustion is observed to be the largest source to emit mercury into the air across the globe. Thus, mercury keeps accumulating in the water and food chain that be indigested by people and leave a harmful effect on the body. Thus, growing activities in coal mining is estimated to drive the growth of the market over the forecast period.

• Rising Consumption and Production of Natural Gas – for instance, in 2020, about 6 quadrillion cubic feet of natural gas reserves were found across the globe, out of which, more than 35 trillion cubic meters were estimated to be located in Russia which makes it the country with largest proved natural gas reserves in the world. Furthermore, in 2020, the United States produced approximately 900 billion cubic tons of natural gas while China accounted for the total production of 200 billion cubic tons.

• Increasing Production and Consumption of Oil Worldwide – it was estimated that nearly 3,00,000 million barrels of oil are consumed every year while approximately 970 million barrels of oil are consumed per day worldwide. Additionally, in Russia, around 500 million metric tons of crude oil were produced in 2020 and more than 700 million metric tons of crude oil were produced in the United States.

• Growing Demand for Calcium Bromide in Energy Production - as of 2021, about 35% of the electricity was produced using coal. In India alone, 1,000 billion units of electricity were generated in 2021. Furthermore, global electricity production was anticipated to be around more than 26 terawatts per hour in 2021.

Challenges

• Possibility of Side Effects of Calcium Bromide - It is recommended safety goggles with side shields must be used when working with calcium bromide since it is observed to have a negative impact on the eyes. Furthermore, chemical protective gloves and boots should be used to protect arms and feet otherwise there can be a severe infection. Hence, this factor is projected to hamper the market growth over the forecast period.

• Availability of Alternative Chemicals in the Market

• Stringent Government Regulation regarding the Use of Calcium Bromide