Hydrogen Bromide Market Size & Share, by Available Form (Gas Vapour, Liquid); Application (Biocides, Flame Retardants, Catalyst, Oil and Gas Drilling, Polysilicon Etching); End-Use Industry (Automotive, Water Treatment, Electronics, Agriculture) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5721
  • Published Date: Feb 22, 2024
  • Report Format: PDF, PPT

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

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.


Hydrogen Bromide Market
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Hydrogen Bromide Market: Growth Factors and Challenges

Growth Factors

  • Increasing Renewable Sources Like Wind Power, Solar Power and Others - The IEA report projects a record expansion for renewables to take place despite today’s high commodity and transport prices. However, should commodity prices stay high through the end of next year, the cost of wind investments would go back up to levels last noticed in 2015 and three years of cost limitations for solar PV would be eradicated. About 80 percent of the international population lives in countries that are net importers of fossil fuels -- that’s around 6 billion people who are reliant on fossil fuels from other countries, which makes them susceptible to geopolitical shocks and crises. Contrarily, sustainable energy sources are accessible in all countries, and their possibility is yet to be completely dominated. The International Renewable Energy Agency (IRENA) calculates that 90 percent of the globe’s electricity can and should come from sustainable energy by 2050.
  • Increasing Requirement of Flame in Electronics, Consumer Goods - Flame retardants have recently been utilized in an extensive range of industry sectors for saving lives and property by limiting fire risks. The increasing fire protection needs for components promote an increasing requirement for the utilization of fire retardants. In manufacturing, some carcinogenic brominated FRs have been prohibited by regulatory bodies, but unfortunately consequent less damaging displacements, in many cases, are still bromine-comprising additives because of their higher cost-efficiency. This outcome in the recent large utilization of halogenated FRs (comprising their synergists), and even might push more requirements for them.
  • The Increase in International Requirements for Efficient Therapeutics - Biotherapeutics need particular regulatory structures to command how they are created, manufactured, utilized in clinical practice, and accepted by National Regulatory Authorities (NRAs). The manufacturing technique must be securely controlled for persistent quality. Strict clinical studies to display protection and efficiency must be conducted in patients. The protection and efficiency of all biotherapeutics must go through post-consent controlling utilizing information comping from practical world clinical exercise.

Challenges

  • The Toxic Impacts of Brominated Compounds- Bromine chloride is a harmful reddish-yellow mobile liquid or gas and a powerful oxidizing agent. The substance demonstrates beginning caustic influences on the eyes, skin, and respiratory tract causing chronic inflammation and damaged functions. Inhalation may create asthma, pneumonitis, or lung edema. Bromine chloride is used as a brominating agent in the development of fire-retardant chemicals, pharmaceuticals, densely populated brominated liquids, agricultural chemicals, dyes, and bleaching agents. This chapter gives an all-inclusive and thorough overview of the bromine chloride contagiousness, maintenance, and assessment of risk problems comprised. Germicides inactivate pathogens in source water; but, they also respond with biological matter and bromide/iodide to create disinfection byproducts (DBPs). Although only very limited DBP classes have been consistently assessed for toxicity, iodinated and brominated DBPs inclined to be the most toxic.
  • Increase of Non-Halogenated Flame Retardants
  • Chances of Occupational Dangers

Hydrogen Bromide Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

∼4%

Base Year Market Size (2023)

~USD 4 Billion

Forecast Year Market Size (2036)

~USD 6 Billion

Regional Scope

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

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:

          Available Form

  • Gas Vapour
  • Liquid

          Application

  • Biocides
  • Flame Retardants
  • Catalysts
  • Oil and Gas Drilling
  • Polysilicon Etching

          End-Use Industry

  • Automotive
  • Water Treatment
  • Electronics
  • Agriculture

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Hydrogen Bromide Market - Regional Synopsis

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.

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Hydrogen Bromide Market Size
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Companies Dominating the Hydrogen Bromide Market

top-features-companies
    • Albemarle Corporation
      • Company Overview
      • Business Planning
      • Main Product Offerings
      • Financial Execution
      • Main Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Neogen Chemical Ltd
    • Chevron Phillips Chemical Company LLC
    • MATHESON TRI-GAS
    • Verni Gas Corporation
    • TOSOH CORPORATION
    • Tata Chemicals Ltd
    • Triveni Interchem Private Limited
    • Sontara Organo Industries
    • Air Liquide

In-the-news

In The News

  • Albemarle Corporation, an international leader in giving important components for mobility, energy, association, and health, declared it has begun its MARBL partnership with Mineral Resources Limited after accomplishing the needed regulatory license.
  • Chevron Phillips Chemical Company LP, as Operator for Golden Triangle Polymers, acquired its first class of 28 technique operators this week for the world-scale unified polymers facility under construction in Orange County, Texas. The recently hired operators come basically from the nine-county Golden Triangle region.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5721
  • Published Date: Feb 22, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The increasing demand for high-capacity batteries across the world will majorly drive the market growth of the hydrogen bromide market.

The market size of the hydrogen bromide market is expected to get a CAGR of approximately 4% over the forecast period, i.e., 2024-2036.

The major players in the market are Albemarle Corporation, Neogen Chemical Ltd, Chevron Phillips Chemical Company LLC, MATHESON TRI-GAS, Verni Gas Corporation, TOSOH CORPORATION, Tata Chemicals Ltd, Triveni Interchem Private Limited, Sontara Organo Industries, Air Liquide, Showa Denko K.K., ADEKA CORPORATION, Japan Finechem Company, Inc., Kishida Chemical Co., Ltd.

The biocides segment is anticipated to reap the largest market size with almost 32% by the end of 2036 and demonstrate substantial growth scopes.

The market in the APAC region is expected to have the largest market share by the end of 2036 and provide more business opportunities in the future.
Hydrogen Bromide Market Report Scope
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