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Hydrobromic Acid Market Size, Share, Growth _ Report 2023, 2031

The global hydrobromic acid market was valued at US$ 519.7 Mn in 2022. It is estimated to grow at a CAGR of 6.7% from 2023 to 2031 and reach US$ 934.0 Mn by the end of 2031.

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Hydrobromic Acid Market Size, Share, Growth _ Report 2023, 2031

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  1. 2/22/24, 5:28 PM Hydrobromic Acid Market Size, Share, Growth | Report 2023, 2031 Search report Keywords Home / Chemicals And Materials / Chemicals / Hydrobromic Acid Market Hydrobromic Acid Market Rep Id : TMRGL43052 Hydrobromic Acid Market (Purity: Up to 48%, >48% - 62%, and Above 62%) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2023-2031 July 2023 317 Pages Report Preview Request Brochure Table of Content PPT, Excel, PDF Get FREE Sample Global Hydrobromic Acid Market Outlook 2031 The global industry wasvalued at US$ 519.7 Mn in 2022 It is estimated to grow at a CAGR of 6.7% from 2023 to 2031 and reach US$ 934.0 Mn by the end of 2031 - Get Started - Get insights that lead to new growth opportunities Analysts’ Viewpoint on Market Scenario Buy Now Expansion in the pharmaceutical sector and rise in adoption of agrochemicals are expected to augment the global hydrobromic acid market size during the forecast period. Hydrobromic acid (HBr) is available in different purity levels, such as 48% and 62%, and is widely employed in various industries. Get answers to your queries on this report from our experts Ask an Expert Hydrobromic acid is used extensively for various applications in the chemical sector. Thus, growth in the chemical sector is likely to offer lucrative opportunities to vendors in the global hydrobromic acid industry. High concentration of hydrobromic acid can significantly impact its usability and reactivity in specific processes. Hydrobromic acid reacts readily with a wide variety of chemical compounds. This ability makes HBr a valuable chemical tool in drug manufacturing, both as an ingredient and a catalyst that helps control complex reactions. - Want to customize this report? - We offer 100% Free Customization at the time of purchase Get Free Customization An adaptive Approach to Modern Day Research needs Analyze Methodology - Trusted Partners - - Quick Contacts - Market Introduction Chat on Whatsapp Hydrobromic acid is a strong acid that is composed of hydrogen (H) and bromine (Br). It is a colorless, corrosive liquid. Hydrobromic acid is highly soluble in water and exhibits strong acidic properties, meaning it readily donates hydrogen ions in aqueous solutions. It is commonly used in various chemical processes, including the production of inorganic and organic bromine compounds. 866-552-3453 +1-518-618-1030 Contact by email Hydrobromic acid is highly corrosive. Therefore, manufacturers store and transport hydrobromic acid in durable protective containers designed to prevent contact with the chemical. HBr is an essential chemical tool in modern manufacturing. Several compounds manufactured using HBr https://www.transparencymarketresearch.com/hydrobromic-acid-market.html 1/6

  2. 2/22/24, 5:28 PM Hydrobromic Acid Market Size, Share, Growth | Report 2023, 2031 are employed in the production of semiconductors, fuels, plastics, and medicines. HBr is also utilized to manufacture fire retardants. Expansion in Pharmaceutical Sector Fueling Hydrobromic Acid Market Development Hydrobromic acid plays a significant role in the pharmaceutical sector, as it is used in the synthesis of various pharmaceuticals and drug intermediates. It is a valuable reagent in organic chemistry, particularly in drug synthesis. HBr is employed in the preparation of numerous pharmaceutical compounds. It can be utilized to convert amines into their corresponding hydrobromides, which are essential intermediates in several drug manufacturing processes. Thus, growth in the pharmaceutical sector is propelling the hydrobromic acid market value. Hydrobromic acid is used to form quaternary ammonium salts, which are crucial in the synthesis of certain drugs. These salts have a wide range of pharmaceutical applications, including catalysts, antimicrobial agents, and surfactants in various formulations. Hydrobromic acid can act as an acid catalyst in certain reactions involved in drug synthesis. It facilitates chemical transformations, making specific reactions more efficient and selective, which is vital in pharmaceutical manufacturing to achieve high yields and purities of desired products. Hydrobromic acid may be employed to produce Active Pharmaceutical Ingredients (APIs) directly. In some cases, the final API may be in the form of a hydrobromide salt. Hydrobromic acid is used to convert the API precursor into the hydrobromide form, which enhances drug stability or solubility. Hence, hydrobromic acid's versatility in organic synthesis makes it a valuable tool in the R&D of various drugs. This is projected to spur the hydrobromic acid market growth in the next few years. Rise in Adoption of Agrochemicals The chemical sector is a key user of hydrobromic acid for various applications such as flame retardants, dyes, and chemical intermediates. Rapid industrialization and urbanization is driving the demand for chemicals in construction, automotive, electronics, and other sectors. This, in turn, is augmenting the hydrobromic acid market statistics. Hydrobromic acid plays a vital role in the production of agrochemicals, including insecticides and herbicides. Surge in focus on boosting agricultural productivity due to rise in demand for food worldwide is estimated to drive the adoption of agrochemicals in the agriculture sector. This is anticipated to positively impact the hydrobromic acid market progress in the near future, as HBr is used in the synthesis of various agrochemical products. Implementation of stringent environmental regulations and growth in adoption of sustainable practices are propelling the demand for hydrobromic acid. The regulatory landscape for hydrobromic acid may vary depending upon the country or region. Major industries are increasingly employing cleaner and greener processes, which is prompting the usage of certain chemicals, including hydrobromic acid. >48% - 62% Pure Hydrobromic Acid Gaining Traction According to the latest hydrobromic acid market trends, the >48% - 62% purity segment is expected to dominate the industry during the forecast period. 48% HBr is commonly used in the pharmaceutical sector for drug synthesis and as a reagent in various chemical reactions during the production of pharmaceutical compounds and intermediates. It is also employed in the oil & gas sector for well drilling and as a catalyst in certain reactions. 62% HBr is commonly utilized in the production of agrochemicals, such as insecticides, herbicides, and fungicides, which are essential for modern agriculture to protect crops and increase yields. The higher purity level of hydrobromic acid (62%) allows for more precise control https://www.transparencymarketresearch.com/hydrobromic-acid-market.html 2/6

  3. 2/22/24, 5:28 PM Hydrobromic Acid Market Size, Share, Growth | Report 2023, 2031 in chemical reactions, making it valuable for manufacturing processes that require a specific concentration of HBr. Regional Outlook According to the latest hydrobromic acid market forecast, Asia Pacific is projected to constitute significant share from 2023 to 2031. Rapid industrialization and growth in pharmaceutical and agriculture sectors are fueling the market dynamics of the region. China and India are prominent markets for hydrobromic acid in Asia Pacific. Expansion in pharmaceutical and chemical industries is driving market expansion in North America, Europe, and Middle East & Africa. The U.S. and Canada are key growth engines of the business in North America, while Germany, France, and the U.K. are major markets for HBr in Europe. Middle East & Africa is a relatively smaller market for hydrobromic acid and is anticipated to grow at a steady pace during the forecast period. Analysis of Key Players The global sector is highly fragmented, with the presence of several hydrobromic acid manufacturers. Most of the companies are investing significantly in R&D of new products to expand their product portfolio and increase their hydrobromic acid market share. Albemarle Corporation, LANXESS, Tokyo Chemical Industry Co., Ltd., Honeywell International Inc., Jordan Bromine Company, Tosoh Corporation Tata Chemicals Ltd., Shandong Tianxin Pharmaceutical Technology Co., Ltd., Vizag Chemicals International, Apollo Scientific Ltd., ICL, and Toronto Research Chemicals are the leading hydrobromic acid companies. Each of these players has been profiled in the hydrobromic acid market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments. The report highlights various challenges and opportunities in the hydrobromic acid market along with drivers, restraints, Porter’s Five Forces analysis, value chain analysis, and key trend analysis. Hydrobromic Acid Market Snapshot Attribute Detail Market Value in 2022 US$ 519.7 Mn Market Forecast Value in 2031 US$ 934.0 Mn Growth Rate (CAGR) 6.7% Forecast Period 2023-2031 Historical Data Available for 2022 Quantitative Units US$ Mn for Value and Tons for Volume https://www.transparencymarketresearch.com/hydrobromic-acid-market.html 3/6

  4. 2/22/24, 5:28 PM Hydrobromic Acid Market Size, Share, Growth | Report 2023, 2031 Attribute Detail It includes cross-segment analysis at the global as well as regional level. Furthermore, the qualitative analysis includes drivers, restraints, opportunities, Porter’s Five Forces analysis, value chain analysis, and key trend analysis. Market Analysis Market share analysis by company (2022) Company profiles section includes overview, product portfolio, sales footprint, key subsidiaries or distributors, strategy and recent developments, and key financials Competition Landscape Format Electronic (PDF) + Excel Purity Up to 48% >48% - 62% Above 62% Application Organic Intermediates Medicines Photosensitive Materials Dyes Catalysts Industrial Cleaning Ore Extraction Biocides Completion Fluids Electrolytes Others End-use Pharmaceutical Chemical Optics Inks & Pigments Mining Water Treatment Food & Beverage Oil & Gas Energy Storage Others Market Segmentation North America Latin America Europe Asia Pacific Middle East & Africa Regions Covered https://www.transparencymarketresearch.com/hydrobromic-acid-market.html 4/6

  5. 2/22/24, 5:28 PM Hydrobromic Acid Market Size, Share, Growth | Report 2023, 2031 Attribute Detail U.S. Canada Germany U.K. France Spain Italy Russia and CIS Japan China India ASEAN Brazil Mexico Rest of Latin America GCC South Africa Rest of Middle East & Africa Countries Covered Albemarle Corporation LANXESS Tokyo Chemical Industry Co., Ltd. Honeywell International Inc. Jordan Bromine Company Tosoh Corporation Tata Chemicals Ltd. Shandong Tianxin Pharmaceutical Technology Co., Ltd. Vizag Chemicals International Apollo Scientific Ltd. ICL Toronto Research Chemicals Companies Profiled Customization Scope Available upon request Pricing Available upon request Frequently Asked Questions How big was the global hydrobromic acid market in 2022? It was valued at US$ 519.7 Mn in 2022 How is the global hydrobromic acid industry expected to grow during the forecast period? It is projected to grow at a CAGR of 6.7% from 2023 to 2031 What are the key factors driving demand for hydrobromic acid? Expansion in the pharmaceutical sector and rise in adoption of agrochemicals https://www.transparencymarketresearch.com/hydrobromic-acid-market.html 5/6

  6. 2/22/24, 5:28 PM Hydrobromic Acid Market Size, Share, Growth | Report 2023, 2031 Which was the largest hydrobromic acid segment in 2022? >48% - 62% was the largest purity segment in 2022 Which region recorded the highest demand for hydrobromic acid in 2022? Asia Pacific recorded the highest demand in 2022 Who are the prominent hydrobromic acid manufacturers? Albemarle Corporation, LANXESS, Tokyo Chemical Industry Co., Ltd., Honeywell International Inc., Jordan Bromine Company, Tosoh Corporation Tata Chemicals Ltd., Shandong Tianxin Pharmaceutical Technology Co., Ltd., Vizag Chemicals International, Apollo Scientific Ltd., ICL, and Toronto Research Chemicals - Help - - Follow Us - Terms Of Use Customer FAQ How To Order Privacy Policy Sitemap U.S Sales Office Corporate Headquarter Reach Us +1-518-618-1030 State Tower, 90 State Street, Suite 700, Albany NY - 12207, United States Downtown, 1000 N. West Street, Suite 1200, Wilmington, Delaware 19801 USA 866-552-3453 (US-Canada Toll Free) sales@transparencymarketresearch.com Trust Online Copyright © Transparency Market Research, Inc. All Rights reserved https://www.transparencymarketresearch.com/hydrobromic-acid-market.html 6/6

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