Hydrogen Bromide Market size is expected to reach USD 6 Billion by the end of 2036, growing at a CAGR of 4% during the forecast period, i.e., 2024-2036. In the year 2023, the industry sizr of hydrogen bromide was USD 4 Billion. The primary driver behind the growth of the hydrogen bromide market is the increasing demand for high-capacity batteries across the world. International requirement for Li-ion batteries is projected to rise over the next decade, with the abundance of GWh needed rising from about 700 GWh in 2022 to almost 4.7 TWh by 2030. Batteries for mobility applications, like electric vehicles (EVs), will contribute to the wide bulk of requirements in 2030-about 4,300 GWh. Active components and cell production may have the biggest profit pools. Mining is not the only choice for sourcing battery components, since recycling is also a choice.
Another reason that will help in driving the growth of hydrogen bromide market by the end of 2036 is the increasing consumption of energy across the world. Moreover, international requirements will touch about 660 quadrillion Btu in 2050, an increase of about 15% versus 2021, showing an increasing population and increasing prosperity. Over 70% of the rise in international electricity requirement over the next three years is projected to come from China, India, and Southeast Asia, although sustainable unpredictability stays over trends in China as its economy appears from rigid Covid limitations. China’s share of international electricity utilization is recently anticipated to increase to a latest record of one-third by 2025, increased from one-quarter in 2015. Simultaneously, progressed economies are asking to grow electricity utilization to demonstrate fossil fuels in sectors like transport, heating, and industry. While natural gas-fired power production in the European Union is projected to fall in the coming years, depending on recent trends, substantial expansion in the Middle East is set to moderately offset this limitation.
Growth Factors
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
∼4% |
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Base Year Market Size (2023) |
~USD 4 Billion |
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Forecast Year Market Size (2036) |
~USD 6 Billion |
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Regional Scope |
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Application (Biocides, Flame Retardants, Catalyst, Oil and Gas Drilling, Polysilicon Etching)
The biocides segment in the hydrogen bromide market is expected to hold 32% of the revenue share by 2036, due to it is utilized treatment of wastewater and the generation of potable water. Moreover, The BKC 50% & 80% are extensively utilized as a biocide in water treatment chemicals. Additionally, BAC 50% & 80% are also utilized as disinfectants. Researchers utilize supreme processing procedures to produce BAC 50% & 80%. Microbiological activity control is an essential activity in many commercial, manufacturing, and industrial technique applications. Chemical biocides are crucial for managing water situations at all times to make sure systems are protected, well-managed, and function at peak productivity. This is feasible with the utilization of attentively selected biocides along with dispersants. They are perfect for an extensive range of ecological hygiene and industrial and technique water treatment activities that demand efficient microbiological activity control in water.
End-Use Industry (Automotive, Water Treatment, Electronics, Agriculture)
The agriculture segment is predicted to account for 35% share of the global hydrogen bromide market by 2036, because it is massively implemented as a soil disinfectant in agriculture, mainly fruit-expanding, and as a disinfectant to hinder pests from invading. Moreover, the combination of a 1:1 ratio of 3% H2O2 and water is generally used to disinfect farms. Moreover, Hydrogen peroxide, famously acknowledged as a component in disinfectant materials, is also licensed for handling microbial pests on crops increasing indoors and outdoors, and on specific crops after cultivation. This active component hinders and inhibits bacteria and fungi that cause severe plant diseases. Hydrogen peroxide falls apart quickly in the ecology to oxygen and water and is not projected to make bad impacts on humans or the ecology when users follow label instructions. Hydrogen peroxide is an apparent colorless liquid that is eternally soluble in water. Agricultural pesticide materials generally comprise no over 35% hydrogen peroxide, which is then generally diluted to 1% or less when utilized as a spray or a liquid.
Our in-depth analysis of the global hydrogen bromide market includes the following segments:
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Available Form |
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Application |
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End-Use Industry |
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APAC Market Forecast
The hydrogen bromide market in the APAC is expected to hold 52% of the revenue share by 2036. This dominance will be noticed due to the increase in the economies of the countries in this region. For instance, the International Monetary Fund (IMF) has updated its GDP expansion projections for China in 2023 and 2024. It projected China's economy to increase by 5.4% in 2023, increased from its earlier projection of 5%. China’s conversion into a forceful private sector-led economy and its unification into the international economy have been among the most drastic economic growths of current decades. Indeed, China’s expansion execution over the last two decades has been impressive, with GDP expansion averaging almost 8 percent.
North American Market
The hydrogen bromide market in the North American region will also encounter huge expansion during the forecast period owing to the increasing oil and gas production in this region. North American generation is set to surpass 41 million boe/d in 2023. By comparison, Middle East oil and gas production in 2023 is just more than 38 million boe/d. Increasing energy prices in 2022 attached fuel to the U.S. debate over the upcoming of oil and natural gas, energy freedom, and the fight against climate change. Recently, the United States has recovered its place as the world’s biggest producer of oil and gas.
Author Credits: Rajrani Baghel
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