Hydrogen bromide is a non flammable, pungent highly water soluble gas used as chemical intermediate for a wide range of hydrocarbons. Hydrogen bromide is commercially available as an aqueous solution.
The market for hydrogen bromide is driven by favorable regulations that encourage the use of bromine attributed to its harmlessness when released in the atmosphere. The increasing demand from the growing oil & gas drilling activities is expected to further aid the hydrogen bromide market growth. However, high acidity and handling risks leading to occupational hazards increase the costs of transporting hydrogen bromide, which might hinder the market growth.
The hydrogen bromide market can be divided, based on its applications, into four key segments as flame retardants, biocides, oil & gas drilling and others. The others application segment includes HBr flow-battery, medicinal, plasma etching, fumigants and pharmaceutical formulations. Flame retardant is estimated to be the largest application segment while biocide is anticipated to be the fastest growing application segment over the forecast period. The oil & gas drilling application is also growing rapidly aiding the growth of hydrogen bromide market.
Hydrogen bromide market can be further classified, based on the end-user market, into six key segments as oil & gas, water treatment, automotive, electronics, construction and others (agricultural, furnishing, textile, ship building, etc.).
Asia Pacific is the largest as well as fastest growing market for hydrogen bromide market. High growth in construction activities especially in India, China and South East Asian countries is the major driver for the growth of the flame retardant market, which in turn aids the demand for hydrogen bromide in the region. Furthermore, growing automotive market in the region is expected to fuel market growth. In North America and Europe the construction market is recovering owing to economic turnaround in the regions, which, further converts into hydrogen bromide demand.
Some of the key players in the hydrogen bromide market include Israel Chemicals Ltd., Albemarle Corporation, Tosoh Corporation, Jordan Bromine Company, Gulf Resources, Tata Chemicals, Hindustan Salts Limited, Chemtura Corporation, Tetra Technologies Inc., and Perekop Bromine.
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