Press release
Hydrogen Bromide Global Market Insights: Growth Drivers, Size & Forecasts to 2029
Hydrogen Bromide
What Is the Forecasted Market Growth Rate of the Hydrogen Bromide Industry?
In the past few years, the hydrogen bromide market has seen robust growth. It is expected to increase from a size of $4.15 billion in 2024 to $4.39 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.7%. The significant growth during the historical period can be associated with its use in pharmaceutical and agrochemical production, consumer electronics, as a flame retardant, in the development of the chemical industry and its utilization in the oil and gas sectors.
How Will the Hydrogen Bromide Market Size Evolve From 2025 to 2029?
The market size of hydrogen bromide is predicted to witness robust expansion in the following years, reaching $5.84 billion by 2029 with a CAGR of 7.4%. The surge throughout the forecasted period can be associated with factors like increasing requirement for pharmaceuticals, development of energy storage, heightened usage in the manufacturing of semiconductors, greater adoption in chemical synthesis alongside emphasis on environmental compliance, and the introduction of hydrogen economy initiatives. Key trends expected to shape the forecast period feature strategic partnerships, product transformations, advancements in technology, and investments geared towards expansion.
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What Are the Main Growth Drivers in the Hydrogen Bromide Market Today?
The hydrogen bromide market is predicted to surge due to the escalating demand from the textile industry. Hydrogen bromide (HBr) plays a crucial role in the creation of flame retardants, a necessary component in textile production to comply with fire safety regulations. This is particularly true for various sectors such as clothing, upholstery, and industrial textiles. For instance, Textile World, a U.S.-based publication focusing on the textile industry, reported in May 2023 that textile and apparel exports in the U.S. reached $34 billion in 2022, a rise from $28.4 billion in 2021. Consequently, the burgeoning demand from the textile industry is stimulating the growth of the hydrogen bromide market.
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Which Hydrogen Bromide Market Segment Is Expected to Lead Through 2029?
The hydrogen bromide market covered in this report is segmented -
1) By Type: Biocides, Flame Retardants, Catalyst, Oil And Gas Drilling, Polysilicon Etching, Other Types
2) By Form: Gas, Liquid
3) By End-Use Industry: Water Treatment, Electronics, Construction, Agriculture, Automotive, Other End-Use Industries
Subsegments:
1) By Biocides: Agricultural Biocides, Industrial Biocides
2) By Flame Retardants: Brominated Flame Retardants, Non-Brominated Flame Retardants
3) By Catalyst: Catalysts For Chemical Reactions, Catalysts For Oil Refining
4) By Oil And Gas Drilling: Drilling Fluids Additives, Well Completion Fluids
5) By Polysilicon Etching: Semiconductor Manufacturing, Photovoltaic Manufacturing
6) By Other Types: Pharmaceuticals, Water Treatment, Specialty Chemicals
Which Market Trends Are Expected to Dominate Hydrogen Bromide Industry Growth?
Leading businesses in the market are extending their hydrogen bromide operations as a strategic move to increase their market revenues. Investment in hydrogen bromide industry offers not only financial gains, but also strategic advantages such as potential for revenue growth, business diversification, and long-term sustainability, all while addressing ecological concerns and diminishing supply chain risks. To illustrate, Albemarle, a U.S. based chemical company specializing in bromine, committed up to $540 million in November 2022 to enlarge and update two bromine facilities in Magnolia, Arkansas, USA. This strategic move aims to cater to the surging demand for brominated products across various sectors, including those leveraging hydrogen bromide usage like fire safety, chemical synthesis, and green energy.
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Which Companies Hold the Largest Market Share in the Hydrogen Bromide Sector?
Major companies operating in the hydrogen bromide market are Air Liquide S.A., Bhavika Chemicals Corporation, Gulf Resources Inc., Linde PLC, Neogen Chemicals Ltd., Matheson Tri-Gas Inc., Praxair Inc., Tata Chemicals Limited, Triveni Interchem Pvt. Ltd., Albemarle Corporation, Chevron Phillips Chemical Company LLC, Lanxess AG, Verni Gas Corporation, Showa Denko K. K., Jiangsu Lanfeng Biochemical Co. Ltd., Astitva Chemicals, Arkema S.A., Honeywell International Inc., Tosoh Corporation, Tokyo Chemical Industry Co. Ltd., Jiangsu Furen Group, Denko Corporation
Where Is the Hydrogen Bromide Market Experiencing the Highest Growth?
Asia-Pacific was the largest region in the hydrogen bromide market share in 2024. The regions covered in the hydrogen bromide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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