Fact.MR Report: What are the Emerging Industry Trends in the Global N-Propyl Bromide Market?

Increasing demand for precision cleaning from applications such as medical implant equipment, artificial joints, aerospace components, and electronics has driven the demand for n-propyl bromide during the recent years. Owing to its high solvency and strong cleaning capabilities, metal cleaning and vapor degreasing applications have become primary consumers of n-propyl bromide. As a result, the metal cleaning and vapor degreasing application segment accounted for over one-third of global consumption in 2019.

Efficacy to act as an intermediate, n-propyl bromide has become a key ingredient in the production of insecticides, quaternary ammonium compounds, and flavors and fragrances. The pharmaceuticals sector is identified as one of the largest consumers in the global n-propyl bromide market, and generated a decent market value. Apart from these aforementioned applications, agrochemicals and electronics are set to result in additional demand for n-propyl bromide during the forecast period. N-propyl bromide is low priced as compared to its alternate cleaning solvents such as Novec and Vertrel, which will remain one of the key driving factors of this market.

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Recovery from COVID-19 Looks to be Slow

The coronavirus outbreak has forced people to stay under lockdowns in their homes, which has affected production and demand across the globe. Fear of the COVID-19 outbreak has forced countries to halt any kind of import-export across borders. Sudden industrial and transportation shutdowns have hampered the global economy in the last few months. As per WHO and UN stats, loss caused due to the coronavirus outbreak may take years to recover. The coronavirus pandemic has affected every industry and market, including the n-propyl bromide market.

China is the largest semiconductor manufacturer across the globe, due to which, it has driven the consumption of n-propyl bromide for precision cleaning applications during the historical period. This scenario was further assisted by its increased usage as an intermediate in drug production and in the production of agrochemicals.

China to Dominate Regional Market in Coming Years

On the back of China, East Asia is projected to lead the global n-propyl bromide market share, accounting for over one-third of global consumption by 2030. Owing to increasing demand for n-propyl bromide from metal cleaning & vapor degreasing applications, the East Asia market is poised to expand at a promising CAGR during the forecast period.

On the other hand, the European Chemicals Agency (ECHA) has classified n-propyl bromide as toxic for reproduction, pointing out its adverse effects on sexual functioning with fertility, which will hinder its consumption in European regions.

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The global n-propyl bromide market is highly consolidated in nature, where the top three players currently account for near half of global production. Albemarle, Shouguang fukang pharmaceutical co. Ltd., and Solaris Chemtech are key stakeholders in the n-propyl bromide market. Players have remained conservative in the market owing to numerous legalizations implemented by various regulatory bodies, such as EPA and ECHA.

In order to leverage the increasing demand from a plethora of applications, n-propyl bromide manufacturers have been offering a range of products. For instance, Albemarle offers ABZOL EG, ABZOL JEG, ABZOL JG, and ABZOL VG for applications such as metal cleaning, vapor degreasing, electronics, and others. Lanxess offers n-propyl bromide for agrochemical, pharmaceutical, metal cleaning, and vapor degreasing applications. Diversified product offerings across a range of applications are set to create lucrative opportunities for suppliers in the n-propyl bromide market space.

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This release was published on openPR.