Hydrogen Bromide Market: Introduction
- Hydrogen bromide is a colorless compound. It is a hydrogen halide due to existing diatomic hydrogen compound boding with bromine. Hydrogen bromide is produced by combining hydrogen and bromine at 2000 C temperature. Hydrogen bromide is a water soluble gas, which exits in the aqueous solution form. The anhydrous and aqueous solution of hydrogen bromide is used in the production of several gases, including bromide compounds.
- Hydrogen bromide is widely used as a catalyst as well as a reducing agent in a number of organic and inorganic chemical reactions. It is widely used in the preparation of different industrial gases. Hydrogen bromide is an essential regent for the synthesis of inorganic and organic bromide compound. It is highly used with the combination of hydrogen chloride for the plasma etching application of poly-silicon and in other etching processes.
- There has been a high demand for hydrogen bromide due to significant growth of the electronics industry. Hydrogen bromide finds vital application in semiconductor, printed circuit board, and microchips. It is also used in the other industries such as construction, automotive, water treatment, oil & gas, and pharmaceutical.
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Key Drivers of Hydrogen Bromide Market
- Rise in demand for plasma etching process, especially in the electronics industry for use in semiconductor applications is anticipated to fuel the demand for hydrogen bromide in the near future. Hydrogen Bromide has key application of plasma etching, which is essential for enhancing the properties of semiconductors.
- Hydrogen bromide is also used in the flow battery application, owing to its reliable source for large-scale energy storage properties. It is used for energy storage due to its fast kinetics and capability to perform highly reversible reactions. This factor is projected to boost the demand for hydrogen bromide during the forecast period.
- Increase in demand for high power batteries to fulfill energy requirements is a key factor projected to drive the hydrogen bromide market during the forecast period. Power & energy applications such wind power, solar power, and other renewable resources are likely to fuel the growth of the hydrogen bromide market in the near future.
Electronics End-use Industry Segment to Offer Attractive Opportunities
- Hydrogen bromide is used in etching process of poly-silicon wafers, which is used to manufacture chips in the semiconductor industry. In addition, it also finds application in the production of several circuit boards across the industry. This factor is likely to drive the hydrogen bromide market.
- The pharmaceutical industry uses hydrogen bromide in specific chemical content of medicines. Rise in demand for effective therapeutics across the globe is projected to propel the demand for hydrogen bromide during the forecast period.
Poisonous Nature of Hydrogen Bromide to Hamper Market
- Hydrogen bromide has pungent odor. The U.S. Code of Federal Regulations under the purview of 49 CFR 173.115 has declared hydrogen bromide as a poisonous gas. Regulations also suggested following safety measures by companies supplying and dealing with the compound. This may hamper expansion of the hydrogen bromide market during the forecast period.
- Hydrogen bromide can cause eye irritation and breathing problems. This may cause adverse effects on the human body after prolonged exposure of the hydrogen bromide gas. It is highly corrosive in nature and heavier than air. These are key restraining factors for the hydrogen bromide market.
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Asia Pacific to Lead Global Hydrogen Bromide Market
- In terms of region, the hydrogen bromide market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is expected to be the leading consumer of hydrogen bromide, followed by North America and Europe. Rise in demand for electronic chips in China, Japan, and South Korea is expected to create high demand for hydrogen bromide during the forecast period.
- Demand for advanced semiconductors in the electronics industry of developing economies of the Asia Pacific region, such as China, India, and Indonesia, is expected to create lucrative opportunities for the producers of hydrogen bromide operating in the region
- Expansion of pharmaceutical industry in developing economies of Asia Pacific is anticipated to fuel the growth of the hydrogen bromide market in the region during the forecast period. Moreover, rise in demand for reducing agent for use in industrial applications, such as organic and inorganic reactions is estimated to drive the hydrogen bromide market in North America and Europe.
- Import of hydrogen bromide in Latin America and Middle East & Africa is likely to boost its demand in both the regions during the forecast period
Key Players Operating in Global Market
The global hydrogen bromide market has presence of several major and domestic hydrogen bromide producing companies with operations worldwide. Some of the key players operating in the hydrogen bromide market include:
- Praxair, Inc.
- LANXESS Group
- Showa Denko
- Albemarle Corporation
- Neogen Chemical Limited
- Chevron Phillips Chemical Company
- Sontara Organo Industries.
Global Hydrogen Bromide Market: Research Scope
Global Hydrogen Bromide Market, by End-use Industry
- Oil & Gas
- Others (Water treatment)
Global Hydrogen Bromide Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.