Market Size –
The hydrogen bromide market size has grown strongly in recent years. It will grow from <b>$3.89 billion in 2023 to $4.18 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. </b> The growth in the historic period can be attributed to pharmaceutical and agrochemical synthesis, use in consumer electronics, flame retardant applications, chemical industry development, oil and gas industry utilization.
The hydrogen bromide market size is expected to see strong growth in the next few years. It will grow to <b>$5.52 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. </b> The growth in the forecast period can be attributed to growing demand for pharmaceuticals, expansion of energy storage , increased application in semiconductor manufacturing, rising adoption in chemical synthesis, focus on environmental compliance, emergence of hydrogen economy initiatives. Major trends in the forecast period include strategic partnerships, product innovations, technological advancements, investments in expansion.
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Scope Of Hydrogen Bromide Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Hydrogen Bromide Market Overview
Market Drivers –
Increasing demand from the electronics and semiconductor industry is expected to propel the hydrogen bromide market going forward. Electro etching is a metal etching process that involves the use of a solution of an electrolyte, an anode, and a cathode, in the case of semiconductors, to create patterns based on their applications. Etching removes material from the semiconductor’s surface. Hydrogen bromide is used in the electronics and semiconductor industry for the etching process of poly-silicon wafers, which are required to manufacture chips and are also used in the production of circuit boards. For instance, in 2021, the SEMI Silicon Manufacturers Group (SMG), a US-based company, revealed in its quarterly review of the silicon wafer industry that worldwide silicon wafer shipments grew 3.3% to 3,649 million square inches in the third quarter of 2021, which was a new industry high. Therefore, increasing demand from the electronics and semiconductor industry is driving the growth of the hydrogen bromide market.
Market Trends –
Technological innovations have emerged as a key trend gaining popularity in the hydrogen bromide market. Major companies operating in the hydrogen bromide market are developing innovative technologies to strengthen their position in the market. For instance, in October 2021, Albemarle Corporation, a US-based global specialty chemicals company, launched ACTION+ catalyst technology. The unique features of ACTION+ catalyst technology include ZT-500, a new, innovative, Y-zeolite stabilization system. ZT-500 provides maximum LPG olefinic with unrivaled butylene/propylene selectivity by minimizing hydrogen transfer reactions and retaining those species that enhance gasoline octane.
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
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Regional Insights –
Asia-Pacific was the largest region in the hydrogen bromide market share in 2023. The regions covered in the hydrogen bromide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the hydrogen bromide market report 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, Merck & Co. Inc., Sigma-Aldrich Co. LLC, Thermo Fisher Scientific Inc., Verni Gas Corporation, Showa Denko K. K., Chemtura Corporation, Jiangsu Lanfeng Biochemical Co. Ltd., Astitva Chemicals, Arkema S.A., Honeywell International Inc., EssentialCo., Sontara Organo Industries, Johnson Matthey group, Tosoh Corporation, Tokyo Chemical Industry Co. Ltd., Jiangsu Furen Group, Avantor Inc., Denko Corporation
Table of Contents
1. Executive Summary
2. Hydrogen Bromide Market Report Structure
3. Hydrogen Bromide Market Trends And Strategies
4. Hydrogen Bromide Market – Macro Economic Scenario
5. Hydrogen Bromide Market Size And Growth
…..
27. Hydrogen Bromide Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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