Hydrobromic Acid Market Size & Share, by Type (Organic Bromides, Inorganic Bromides); Product (Hbr 48%, Hbr 62%); Application (Food & Beverage, Pharmaceutical, Agricultural, Chemical); End-Use Industry (Food Industry, Pharmaceutical Industry, Chemical Industry, Textile Industry) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5737
  • Published Date: Feb 27, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Hydrobromic Acid Market size is expected to reach USD  930 Million by the end of 2036, growing at a CAGR of 7% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of the hydrobromic acid crossed around USD 520 Million. The primary reason behind the exceptional growth of the market is the increasing consumption of electricity across the world and hydrobromide acid is an important element electrical industry. In 2022, the complete global electricity generation was around 29,000 TWh. Total primary energy is shifted into multiple types, comprising, but not restricted to, electricity, heat, and motion. Some basic energy is lost at the time of the shift to electricity, as noticed in the United States, where a little over 60% was lost in 2022.

Another reason that will also drive the market of hydrobromic acid is the increasing expansion of the pharmaceutical industry across the world. The pharmaceutical industry is in charge of the research, development, generation, and distribution of drugs. The market has noticed substantial expansion during the past two decades, and pharma profits across the world summed at 1.48 trillion U.S. dollars in 2022. Sales of the pharmaceutical markets in BRICS and MIST countries two-folded in 5 years, touching a market share of around 20%. The transformation toward these new markets has contributed to the immense populations, increasing prosperity, and rising life likelihood in BRICS and MIST countries. Additionally, organizations are noticing flattened expansion of advanced markets, closure of patents leading to the up-selling of less costly usual medications, and tight rules imposed in mature markets. Specific attention must thus be provided to these growing markets. The planning adopted by pharmaceutical organizations that expect to grow in these markets must be accommodated to the pace of growth of every country.


Hydrobromic Acid Market overview
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Hydrobromic Acid Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Adoption in The Chemical Industry- Bromine is implemented in multiple inorganic and organic materials. Since it is a component, it cannot be alternated with other components without the properties of the material being transformed, frequently substantially. However, some bromine agents, mainly organic compounds, are sensitive to alteration by-products with totally varied chemistries. Essential characteristics for its utilization in inorganic agents comprise its oxidation capacity and its comparatively high molecular weight (related to chlorine). Attribution results show that the treatment with HBr solution leads to the rise of acidic groups and the reduction of fundamental groups on the carbon surface. The therapy with HBr solution generates a lot of lactonic groups on the carbon. BET decision shows that a few micropores and mesopores are produced by the treatment with HBr solution. The rise of acidic groups and amplification of surface area is due to the modification of the skill to adsorb Cr(VI) ions. Lactonic groups and micropores play a main role in adsorbing Cr(VI) from water.
  • Rising Use of Hydrobromic Acid as Pesticides -Pesticides are necessary in agricultural generation. They have been utilized by farmers to tackle weeds and insects, and their exceptional rises in agricultural components have been reported. The rise in the world’s population in the 20th century could not have been feasible without a parallel rise in food generation. About one-third of agricultural materials are generated relying on the application of pesticides. Without the implementation of pesticides, there would be a 78% loss of fruit gen, a 54% loss of vegetable generation, and a 32% loss of cereal generation. Thus, pesticides play a crucial role in limiting diseases and raising crop cultivation across the world.
  • Increase in Adoption of Agrochemicals -In answer to the reduced profits and margins in the earlier, agrochemicals industry players concentrated on strengthening their market share through enhanced mergers & acquirements (M&A), expanding their geographical expansion, raising investment in research and development (R&D) of the latest active components, and increasing material offerings with digital as a major agent. However, challenges go on to stay, basic among them comprise longer product development cycles and escalating costs, increasing strictness of regulatory needs, farm subsidy reduction, and quickened pace of change inside and in adjacent markets. The agricultural enzymes are massively adopted.

Challenges

  • Hydrobromic Acid Can Be Harmful Because Of Its Toxicity -In a relative toxicity study, hydrogen bromide caused more massive burns to the skin than hydrogen chloride or hydrogen iodide. In another study relating the severe toxic impacts of hydrogen fluoride, hydrogen bromide, and hydrogen chloride, rats were exposed to 1200 ppm hydrogen bromide for 40 min. Rats were isolated into two groups. The first group comprised ordinary mouth-breathing rats and the second group comprised rats fitted with an apparatus to imitate nose breathing. Over twice as many rats in the pseudo-mouth-breathing group deceased as in the nose-only group and none deceased in the control group. Eye irritation was not reported in humans at any of the tested considerations. One singular noted nasal or throat irritation at the 3ppm level. The odor was perceptible at all concentrations tested. Higher levels of inhalation disclosure can generate pulmonary edema.
  • Attainability of Alternative Product
  • Rigorous Government Rules and Safety Issues

Hydrobromic Acid Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

∼7%

Base Year Market Size (2023)

~USD 520 Million

Forecast Year Market Size (2036)

~USD 930 Million

Regional Scope

  • North America (North America, Canada, Mexico)
  • Europe (Germany, Spain, UK, France, Italy, Russia, Others)
  • Asia Pacific (Japan, China, India, Australia, Others)
  • Middle East and Africa (South Africa, UAE, Others)
  • Latin America (Brazil, Argentina, Others)
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Hydrobromic Acid Segmentation

Product (Hbr 48%, Hbr 62%)

The Hbr 48% segment is expected to hold 65% share of the global hydrobromic acid market by 2036. The reason behind this segment’s dominance is the rising investment in the pharmaceutical industry and Hbr 48% is immensely used in making medications. The industry's upcoming course is hopeful, with the pharmaceutical components market expected to touch around USD 130 billion by the end of 2030. Simultaneously, the international pharmaceutical components market is projected to exceed the USD 1 trillion mark by the end of 2024. The pharma industry is incorporated into some major multinational organizations. Depending on prescription drug sales, U.S. organization Pfizer has been among the global foremost pharmaceutical organizations for many years. The organization, which has its international headquarters in New York City, produced a total profit of over 100 billion U.S. dollars in 2022. A lot of the foremost pharma organizations come from the United States, and, thus, it is no astonishment that the country has the biggest national health and pharmaceutical market globally.

Application (Food & Beverage, Pharmaceutical, Agricultural, Chemical)

The chemical segment in the hydrobromic acid market is projected to account for 40% of the revenue share by 2036. This supremacy of the segment will be noticed due to the wide expansion of the chemical industry across the world. In 2023, a calculated USD 2.8 trillion was spent internationally on energy, with over 60% invested in clean energy technology, like sustainable resources, EVs, and battery storage. Part of this has been in answer to the regulation of the United States that is assisting to encourage private-sector investment. For instance, in the year after the CHIPS Act was approved into law, the private sector declared USD 166 billion in spending on semiconductor plants, and in the year since the IRA was approved into law, the private sector declared roughly USD 88 billion in clean energy manufacturing.

Our In-Depth Analysis of The Global Market Includes the Following Segments:

          Type

  • Organic Bromides
  • Inorganic Bromides

          Product

  • Hbr 48%
  • Hbr 62%

          Application

  • Food & Beverage
  • Pharmaceutical
  • Agricultural
  • Chemical

          End-Use Industry

  • Food Industry
  • Pharmaceutical Industry
  • Chemical Industry
  • Textile Industry

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Hydrobromic Acid Industry - Regional Synopsis

North American Market Statistics

The hydrobromic acid market in the North America region will have the highest growth during the forecast period and will hold almost 42% revenue share. This supremacy will be noticed due to the region’s pharmaceutical companies’ increasing investment in making more potent drugs. It is noticed that around 244 thousand publications straight associated with drugs, of which 16% recognized NIH funding completing USD 36 billion. Contrarily, it is seen that 2 million publications associated with the biological aims of these drugs, of which 21% recognized NIH funding totaling USD 195 billion. Two-thirds of the research funding was for investigator-influenced Research Projects or Research Program Projects and Centers that give research infrastructure, and less than one-third was associated with government-influenced and maintained Cooperative Agreements of Intramural Research.

European Market Analysis

The hydrobromic acid market in the Europe region will have significant growth in the forecast period. This growth will be noticed because of the increasing prevalence of chronic disease in this region. Chronic diseases, like heart disease, stroke, cancer, chronic respiratory diseases, and sugar, are by a long shot the foremost cause of mortality in Europe, showing 77% of the entire disease pressure and 86% of all deaths. These diseases are connected by usual risk factors, fundamental factors, and scopes for intervention.

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Hydrobromic Acid Market size
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Companies Dominating the Hydrobromic Acid Market

top-features-companies
    • Manac Inc.
      • Company Overview
      • Business Planning
      • Main Product Offerings
      • Financial Execution
      • Main Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • Chemieorganic Chemicals
    • Merck KGaA
    • BASF
    • ERCO Worldwide
    • Haiwang chemical
    • BLUESTAR ENTERPRISES
    • Alpha Chemika
    • Jordan Bromine
    • Kemira

In-the-news

In The News

29 January 2024: Merck KGaA, a foremost science and technology organization, declared the opening of the Merck Digital Hub in Singapore, the first external of the US and Europe for the digital business of Merck. Assisted by the Singapore Economic Development Board (EDB), the Digital Hub focuses on driving developments inside the healthcare and semiconductor industries.

26 January 2024: Merck KGaA, a foremost science and technology organization, has agreed on a 10-year green power purchase agreement (PPA) with China Resources Power Holdings Co., Ltd. This is Merck's first consistent sustainable energy acquisition in China, with a projected intake of 300 gigawatt hours (GWh) in ten years.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5737
  • Published Date: Feb 27, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The increasing consumption of electricity across the world will majorly drive the market growth of the hydrobromic acid market.

The market size of the hydrobromic acid market is expected to get a CAGR of approximately 7% over the forecast period, i.e., 2024-2036.

The major players in the market are Manac Inc., Chemieorganic Chemicals, Merck KGaA, BASF, ERCO Worldwide, Haiwang Chemical, BLUESTAR ENTERPRISES, Alpha Chemika, Jordan Bromine, Kemira, Kaname Chemicals Co., Ltd., JFE Chemical Corporation, Shoko Co., Ltd., Toagosei Co., Ltd.

The Hbr 48% segment is anticipated to reap the largest market size with almost 65% by the end of 2036 and demonstrate substantial growth scopes.

The market in the North American region is expected to have the largest market share by the end of 2036 and provide more business opportunities in the future.
Hydrobromic Acid Market Report Scope
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