Ammonium bromide is the salt of hydro bromic acid. It is fabricated by the reaction of ammonia and hydro bromic acid. It is also made by the direct reaction of ammonia with bromine in water. The concentration solutions of ammonium bromide is formulate the crystalline product.
Global Ammonium Bromide Market: Segmentation
The global ammonium bromide market can be segmented based on grade, application, and region. In terms of grade, the market can be bifurcated into pharmaceutical and chemical. Pharmaceutical grade is anticipated to be the leading segment of the market during the forecast period. Rise in usage of ammonium bromide in the manufacture of pharmaceuticals is the key factor fueling the market. Additionally, the oxidizer blended ammonium bromide is an efficient biocide which is useful in numerous industrial water systems and wastewater to control bacteria, fungi, and algae. In terms of application, the global ammonium bromide market can be divided into medical, photosensitive emulsion, fire retardant, stone printing, and others. The growing demand for ammonium bromide in medical is anticipated to gain strong growth during the forecast period. Ammonium bromide is used extensively owing to its soothing and anticonvulsant properties, however, the higher blood concentration during the therapeutic effect can be resulted to toxic effects.
Global Ammonium Bromide Market: Trends & Developments
Increase in demand for ammonium bromide in pharmaceuticals and medical applications is projected to propel the demand for ammonium bromide during the forecast period. Significant growth of the health care industry and the medical sector, led by the increase in awareness regarding various diseases among the people, is anticipated to drive the ammonium bromide market. However, ammonium bromide has certain adverse effects on the human body due to its high toxicity. This is adversely affecting the market. Furthermore, increase in population and rise in prevalence of diseases due to unbalanced lifestyle are creating lucrative opportunities for the ammonium bromide market.
Global Ammonium Bromide Market: Regional Outlook
Based on region, the global ammonium bromide market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is a major region of the global ammonium bromide market. North America is anticipated to be a mature region of the ammonium bromide market in the near future. This can be ascribed to the presence of well-established economy and growth in pharmaceuticals and medical industries in the U.S. Additionally, presence of key manufacturers of pharmaceuticals is driving the demand for ammonium bromide. The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, followed by that in North America. Emerging economy of India and China and growth in the medical industry are major factors fueling the demand for ammonium bromide in Asia Pacific. The ammonium bromide market in Middle East & Africa and Latin America is projected to expand at a moderate pace in the near future, led by the presence of developing economies in these regions.
Global Ammonium Bromide Market: Key Players
Key players operating in the global ammonium bromide market are Albemarle, Chemtura, ICL, Jordan Bromine, Great Lakes, Perekop Bromine, Morre-TEC, Dhruv Chem, American Elements, S.A. Corporation, Visual Pharma Chem, Honjo Chemical, Dhara Fine Chem, Tenor Chemical, Yogi Intermediate, Sandvik Materials Technology, Tanaka Ai, and Longwei Industrial.
Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.