Hydrogen Bromide Market Will Continue to Grow by 2022

Hydrogen Bromide (HBr), is a water soluble gas also available in the form of aqueous solution, which can be produced by the chemical reaction between bromine and hydrogen. It is used as a catalyst in reactions and as a reducing agent. Hydrogen Bromide when mixed with water forms hydrobromic acid, it is a strong acid which is mainly used for industrial uses. Hydrobromic acid is used to add desirable properties in any chemical compound, it is also used in the production of terephthalic acid, inorganic bromides, organobromines and bromides of Zinc, Sodium and Calcium. Global hydrogen bromide market is anticipated to witness a single digit CAGR growth rate in the forecast period because of its applications in the industries like automotive, construction, Electronics Etc.

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The Global hydrogen Bromide market is expected to boost in near future owing to the favourable regulations on the use of bromine, due to its harmless nature in the atmosphere. Hydrogen bromide finds its application in the activities of oil and gas drilling, so the growing oil and gas industry is expected to increase the global hydrogen bromide market. The major application of hydrogen bromide is in flame retardant segment and in biocide, both of these segments are anticipated to have a modest growth in the forecasted period leading to significant growth in global hydrogen bromide market.

Hydrobromic acid is a strong acid and needs to be handled carefully, also there are chances of occupational hazards which can hamper the global hydrogen bromide market. The transportation of hydrobromic acid is expensive owing to its strong acidic nature and caution needed to handle the acid, which hinders the global hydrogen bromide market. Heating of hydrogen bromide increases the pressure and leads to bursting, also on contact with metal there is a risk of explosion and fire due to the formation of hydrogen, all these factors can affect the global hydrogen bromide market.

The global hydrogen bromide market can be divided into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East and Africa. Asia pacific is having a maximum share in the global hydrogen bromide market and is growing at a significant rate. India and China are the countries in Asia Pacific region witnessing booming market of flame retardant, which leads to the increase of market share in global hydrogen bromide market of Asia Pacific region. North America is anticipated to be the next big player in global hydrogen bromide market owing to its recovering construction segment due to the turnaround in its economy. Europe is an emerging region in global hydrogen bromide market because of the established automotive sector in this region. Middle East and Africa, Latin America are at a nascent stage and are expected to have a good market size in near future.

Some of the key players in global hydrogen bromide market are Albermarle Corporation, Tosoh Corporation, Gulf Resources, Inc., Tata Chemicals Ltd., Triveni Interchem Pvt. Ltd, SONTARA ORGANO INDUSTRIES, Bhavika Chemicals Corporation.

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