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Bromobenzene Market is Estimated to Witness High Growth Owing to Increasing Demand from Flame Retardant Applications

05-23-2024 02:15 PM CET | Chemicals & Materials

Press release from: Coherent Market Insights

Bromobenzene Market

Bromobenzene Market

Market Overview:

Bromobenzene, also known as monobromobenzene, is an organobromine compound that is widely used in flame retardants, lubricating and cutting oils, intermediates in drugs and pesticides. It has a slightly sweet odor and is a colorless liquid.

Market Dynamics:

Bromobenzene is majorly used in flame retardants, which are added to plastics, textiles, and electronics to inhibit or resist the spread of fire. The demand for flame retardants from these end-use industries has witnessed steady growth over the years owing to stringent fire safety regulations globally. Additionally, bromobenzene also finds application as an intermediate in agricultural chemicals and pharmaceuticals. The growing population and demand for food has increased the demand for agrochemicals like pesticides and herbicides, which in turn is fueling the consumption of bromobenzene.

Major driver: Increasing demand for bromobenzene from intermediates manufacturing industries

One of the major drivers of the bromobenzene market is the growing demand from various intermediates manufacturing industries. Bromobenzene is widely used as an intermediate in the production of many important chemical compounds such as dyes, pharmaceuticals, pesticides and other agrochemicals. As the population increases globally, the demand for products from various industries like textiles, pharmaceuticals, agrochemicals is also rising significantly. This rise in demand is directly fueling the growth of intermediates manufacturing industries which in turn is boosting the consumption of bromobenzene. Many established as well as emerging countries are rapidly industrializing which is further augmenting the production of intermediate chemicals across the world. This expanding intermediates industry acts as a key growth propeller for the bromobenzene market.

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Key Players Covered In This Report:

CM Fine Chemicals GmbH, Hawks Chemical Company, Hebei Yingong New Material Technology Co., Ltd., Heranba Industries Ltd., Jiangsu Dacheng Pharmaceutical and Chemical Co., Ltd., Luyunjia Chemistry Xiamen Limited, Merck KGaA, Mody Chemi-Pharma Limited, RX MARINE INTERNATIONAL, and Yancheng Longsheng Chemical Co., Ltd.

Market Segmantation:

By Product Type:

Phenyl Magnesium Bromide
Phencyclidine
Others

By Application:

Grignard Reagent
Solvents
Organic Chemical Synthesis
Additives
Pharmaceutical Intermediate
Others

Key Region/Countries are Classified as Follows:

The following section of the report offers valuable insights into different regions and the key players operating within each of them. To assess the growth of a specific region or country, economic, social, environmental, technological, and political factors have been carefully considered.

The section also provides readers with revenue and sales data for each region and country, gathered through comprehensive research. This information is intended to assist readers in determining the potential value of an investment in a particular region.

◘ North America (United States, Canada, and Mexico)
◘ Europe (Germany, France, UK, Russia, and Italy)
◘ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
◘ Latin America (Brazil, Argentina, Colombia,.)
◘ The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

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Emerging driver: Rising use of bromobenzene in electronic industry applications

Another emerging driver for the bromobenzene market is the increasing utilization of bromobenzene in electronic industry applications. Bromobenzene finds usage as a solvent for cleaning electronic components and equipment. It possesses excellent solvent properties and ability to dissolve organic contaminants. With the proliferating electronics sector globally, the demand for cleaning and degreasing solvents from this industry is surging rapidly. The miniaturization of electronic devices has made cleanrooms and ultra-clean manufacturing environments imperative. This growing requirement of clean production settings in the electronics industry is driving the adoption of bromobenzene. Its non-flammable nature make it a safe choice for cleaning delicate electronic components and circuits. Thus, the rising consumption of bromobenzene as a cleaning agent in various electronics manufacturing applications is anticipated to open new avenues of growth for its market.

Major restrain: Stringent environmental regulations

One of the major restraints for the bromobenzene market is the stringent environmental regulations imposed by various government and regulatory bodies around the usage and disposal of bromobenzene. Bromobenzene is categorized as an environmental hazard and possible human carcinogen. Prolonged or repeated exposure to it can cause harmful health effects in humans as well as contamination of soil and water bodies. Strict laws by organizations like EPA have limited the application of bromobenzene in certain end-use industries. The regulations mandate guidelines regarding its production, storage, transportation and waste management. Significant costs are incurred to abide by these norms. Also, availability of alternatives with lower toxicity is prompting end-users to switch to substitutes. Thus, the enactment of more stringent norms to curb pollution and ensure worker safetypose a challenge to the growth of the bromobenzene market.

Emerging opportunity: Development of bio-based bromobenzene

A potential opportunity for the bromobenzene market players lies in innovating bio-based manufacturing routes. Continuous research is being conducted to develop commercially viable technologies for producing bromobenzene and its derivatives from renewable biomass sources like lignocellulose instead of traditional non-renewable petroleum feedstocks. This will make the production process greener and more sustainable. Some research institutions have already successfully synthesized bromobenzene in the lab from biowaste lignocellulosic materials like corn stover through microbial fermentation processes. If commercialized on a large scale, these bio-based production methods can help overcome challenges associated with the scarce petrochemical resources and stricter environmental mandates for bromobenzene. They may also garner wide acceptance due to their lower carbon footprint. Manufacturers focusing their R&D efforts towards establishing renewable routes can gain a competitive edge in the market over the long term.

Emerging trend:growing preference for bio-based and green bromobenzene

A major emerging trend in the bromobenzene market is the increasing preference among end-users as well as regulators for bio-based and environment-friendly bromobenzene products. With rising environmental awareness and sustainability becoming a priority, industrial buyers are seeking greener alternatives to conventionally produced bromobenzene. As discussed earlier, ongoing researches aim at developing renewable and bio-based manufacturing processes. Along with this, companies are investing in innovation to make existing production techniques more eco-friendly by reducing waste and controlling emissions. They are coming up with methods for reuse, recycling and proper treatment of

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The report answers a number of crucial questions, including:

➥ Which companies dominate the global Bromobenzene market ?
➥ What current trends will influence the market over the next few years?
➥ What are the market's opportunities, obstacles, and driving forces?
➥ What predictions for the future can help with strategic decision-making?
➥ What advantages does market research offer businesses?
➥ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
➥ What is the anticipated growth rate for the market economy globally?

Contact Us:

Mr. Shah
Coherent Market Insights Pvt Ltd,
533 Airport Boulevard, Suite 400, Burlingame, CA 94010, United States
✉ Email: sales@coherentmarketinsights.com
📞United States of America: +1-206-701-6702
📞United Kingdom: +44-020-8133-4027
📞Japan: +050-5539-1737
📞India: +91-848-285-0837

About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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