Hydrogen Bromide Market Forecasts to 2030 – Global Analysis By Type (Biocides, Flame Retardants, Catalyst, Oil and Gas Drilling, Polysilicon Etching and Other Types), Form (Gas, Liquid and Other Forms), End User (Water Treatment, Electronics, Construction

Hydrogen Bromide Market Forecasts to 2030 – Global Analysis By Type (Biocides, Flame Retardants, Catalyst, Oil and Gas Drilling, Polysilicon Etching and Other Types), Form (Gas, Liquid and Other Forms), End User (Water Treatment, Electronics, Construction, Agriculture, Automotive, Energy, Automotive, Pharmaceutical, Textile, Ship Building and Other End Users) and By Geography

According to Stratistics MRC, the Global Hydrogen Bromide Market is accounted for $4.57 billion in 2023 and is expected to reach $7.29 billion by 2030 growing at a CAGR of 6.9% during the forecast period. The chemical reaction between bromine and hydrogen results in hydrogen bromide (HBr), a water-soluble gas that can also be created as an aqueous solution. It functions as both a catalyst and a reducing agent in reactions. Moreover, hydrobromic acid, a potent acid that is mainly used in industry, is created when hydrogen bromide is combined with water. Any chemical compound can have desirable properties added to it using hydrobromic acid. Inorganic bromides, organ bromines, terephthalic acid, zinc, sodium, and calcium bromides are also produced using it.

According to ILO, however, bromine produces a more marked toxic action. AIHA reported that for humans, 40 to 60 ppm bromine is dangerous for short exposure Henderson and Haggard 1943.

Market Dynamics

Driver

Demand for chemical industry

Hydrogen bromide is primarily consumed by the chemical industry. Many different chemical compounds, including pharmaceuticals, flame retardants, and specialty chemicals, are synthesized using HBr. Additionally, the development of new chemical processes that use HBr as a raw material, as well as economic growth and consumer demand for chemical products, all have an impact on this sector's demand.

Restraint

Environment-related issues

Environmental effects from HBr production and bromine extraction can be significant. These include the production of waste byproducts and the emissions of brominated compounds, which may contribute to the destruction of the ozone layer. Furthermore, investments in cleaner, more sustainable production techniques are required as a result of increased environmental awareness and stricter regulations, which could raise production costs.

Opportunity

Modern applications for semiconductors

Cutting-edge materials and procedures are necessary for the ongoing advancements in semiconductor technology. The use of HBr in semiconductor fabrication goes beyond just conventional etching. Moreover, it provides chances for cooperation with semiconductor firms to create new substances and procedures that improve the functionality and effectiveness of microchips and electronic gadgets, promoting advancements in computing, communications, and electronics.

Threat

Risks to the raw material supply

Due to the market's reliance on bromine, which is primarily obtained from natural brine deposits, supply disruptions due to elements like geopolitical unrest and environmental regulations in bromine-producing regions are a risk. Additionally, the availability and cost of bromine are put at risk when there is sudden supply chain interruptions brought on by political conflicts or disputes in these regions. The extraction of bromine may also be restricted in these areas due to changing environmental regulations, which would concentrate the supply chain and increase supply risks for HBr producers.

Covid-19 Impact

The hydrogen bromide (HBr) market is significantly impacted by the COVID-19 pandemic. Production and distribution were initially hampered by supply chain disruptions, labor shortages, and lockdown procedures, which led to short-term supply problems and potential price changes. Furthermore, the demand for goods based on HBr fluctuated due to decreased economic activity and uncertainty in a number of industries. However, certain market segments experienced increased demand as the pandemic highlighted the need for energy storage options and semiconductor technologies that rely on HBr.

The Oil and Gas Drilling segment is expected to be the largest during the forecast period

The market for hydrogen bromide (HBr) is anticipated to hold the largest share in the oil and gas drilling segment. In this industry, HBr is used as a crucial component in drilling fluids to increase drilling efficiency and prevent corrosion on equipment. HBr is essential in the oil and gas industry, especially in difficult drilling operations, due to its capacity to reduce formation damage and control wellbore stability. Moreover, this industry continues to use HBr extensively due to the high global demand for oil and gas, making it the chemical's most common use.

The Water Treatment segment is expected to have the highest CAGR during the forecast period

The market for hydrogen bromide (HBr) shows the highest CAGR in the water treatment segment. HBr is a crucial ingredient in many processes used in the water treatment industry, including pH regulation, disinfection, and corrosion inhibition. The demand for HBr in water treatment applications has increased as a result of rising concerns about water quality, escalating regulations, and a growing emphasis on sustainable water management. Additionally, the demand for efficient water treatment solutions is widespread across industries, including desalination, industrial wastewater treatment, and municipal water treatment, which is fueling this market's steady expansion.

Region with largest share

The European region holds the largest market share for hydrogen bromide (HBr). Due to its diverse industrial base, Europe, which includes nations like Germany, the United Kingdom, France, and others, is a significant consumer of HBr. HBr is used in a variety of applications in the chemical, electronic, pharmaceutical, and construction industries. Furthermore, the strict environmental regulations in Europe fuel the demand for HBr in green products like eco-friendly flame retardants and water treatment. The region's emphasis on sustainability and technological innovation also helps to explain why it is a significant player alongside North America in the HBr market.

Region with highest CAGR

The Asia-Pacific (APAC) region is anticipated to have the highest CAGR in the hydrogen bromide (HBr) market. APAC is experiencing rapid industrialization, urbanization, and economic growth and includes nations like China, India, Japan, and South Korea. As a result, HBr is increasingly in demand in a variety of industries, including construction, agriculture, electronics, and auto manufacturing. Moreover, the demand for HBr in this region has also been boosted by the developing semiconductor industry in nations like South Korea and Taiwan, as well as the increasing focus on clean water and sustainable agriculture. APAC is a high-growth region in the HBr market due to the expansion of manufacturing and technological capabilities as well as rising environmental awareness.

Key players in the market

Some of the key players in Hydrogen Bromide Market include Linde Plc, Bhavika Chemicals Corporation, Praxair Technology, Air Liquide, Tata Chemicals Ltd, Matheson Tri-Gas, Inc, Chevron Phillips Chemical Company Llc, Gulf Resources, Inc, Chemtura Corporation, Lanxess, Sontara Organo Industries, Showa Denko K.K, Albemarle Corporation, Neogen Chemical Ltd, Tosoh Corporation, Triveni Interchem Private Limited and Verni Gas Corporation.

Key Developments

In June 2023, Air Liquide has signed a long-term Power Purchase Agreement (PPA) with the China Three Gorges Renewables and China Three Gorges Corporation Jiangsu Branch, subsidiaries of China Three Gorges, one of China’s largest producers and retailers of renewable electricity, to purchase a total of 200 MW of renewable power per year in China.

In April 2023, Linde announced that it has signed a long-term agreement with ExxonMobil for the off-take of carbon dioxide associated with Linde's new clean hydrogen production in Beaumont, Texas. Linde previously announced that it will build, own and operate an on-site complex to supply clean hydrogen and nitrogen to OCI Global's (Euronext OCI) new world-scale blue ammonia plant.

In January 2023, Tata Chemicals Europe signs offtake agreement with Vertex Hydrogen. Under the new offtake agreement, Vertex will supply TCE with hydrogen as the manufacturer continues to decarbonise its operations in the UK with a target of achieving “net zero"" manufacturing by 2030.

Types Covered
• Biocides
• Flame Retardants
• Catalyst
• Oil and Gas Drilling
• Polysilicon Etching
• Other Types

Forms Covered
• Gas
• Liquid
• Other Forms

End Users Covered
• Water Treatment
• Electronics
• Construction
• Agriculture
• Automotive
• Energy
• Automotive
• Pharmaceutical
• Textile
• Ship Building
• Other End Users

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements