Hydrogen Bromide Global Market Report 2024

The global hydrogen bromide market has grown strongly in recent years. It will grow from $3.89 billion in 2023 to $4.18 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. During the historical period, the growth can be attributed to pharmaceutical and agrochemical synthesis, utilization in consumer electronics, application as flame retardants, the development of the chemical industry, and its utilization within the oil and gas industry.

The global hydrogen bromide market is expected to see strong growth in the next few years. It will grow to $5.52 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. In the forecast period, the anticipated growth stems from increased pharmaceutical demand, expanded energy storage, heightened usage in semiconductor manufacturing, greater adoption in chemical synthesis, emphasis on environmental compliance, and the emergence of initiatives within the hydrogen economy. Major trends projected for this period include strategic partnerships, innovations in products, technological advancements, and substantial investments in expansion.

Anticipated growth in the hydrogen bromide market is fueled by heightened demand within the electronics and semiconductor industry. In semiconductor manufacturing, hydrogen bromide plays a crucial role in the electro etching process, particularly in poly-silicon wafer etching essential for chip production and circuit board creation. For instance, in the third quarter of 2021, worldwide silicon wafer shipments soared to a new industry high of 3,649 million square inches, as reported by the SEMI Silicon Manufacturers Group (SMG), signifying a 3.3% growth.

The automotive industry's increasing demand is also a significant driver of growth in the hydrogen bromide market. Within this sector, hydrogen bromide finds usage in diverse applications such as renewable energy storage, high-capacity flow batteries, and the manufacturing of electric cars. For instance, in 2022, global motor vehicle production surged by 5.7%, reaching 85.4 million units, as noted by the European Automobile Manufacturers Association. Additionally, the automobile sector's sales in 2022 experienced a substantial 10% increase, reaching approximately 78 million units according to Brand Finance plc.

Technological innovations are becoming a prominent trend shaping the hydrogen bromide market. Key market players are actively developing innovative technologies to consolidate their market presence. For instance, Albemarle Corporation launched the ACTION+ catalyst technology in October 2021, which features the ZT-500, a novel Y-zeolite stabilization system designed to optimize gasoline octane.

Major companies in the hydrogen bromide market are focusing on pioneering products to drive revenue growth. For example, De Nora Tech S.p.A. introduced the MIOX bromine oxidant solution system (BOSS) in September 2022. This system, intended for high-pH water treatment in cooling towers, transforms chlorine-based solutions into stable bromine to effectively manage biofilm and harmful bacteria, offering more efficient inactivation than chlorine in alkaline waters.

In June 2021, Elestor B.V., a Dutch company specializing in energy storage solutions, entered a partnership with Royal Vopak N.V. This collaboration aims to expand the utilization of flow battery technology utilizing hydrogen bromide (HBr) for electricity storage. The focus of this partnership revolves around sustainable energy initiatives and the development of advanced energy storage systems. Royal Vopak N.V., another Dutch-based company, specializes in hydrogen bromide technologies.

Major companies operating in the hydrogen bromide market report are Air Liquide S.A., Bhavika Chemicals Corporation, Gulf Resources Inc., Linde PLC, Neogen Chemicals Ltd., Matheson Tri-Gas Inc., Praxair Inc., Tata Chemicals Limited, Triveni Interchem Pvt. Ltd., Albemarle Corporation, Chevron Phillips Chemical Company LLC, Lanxess AG, Merck & Co. Inc., Sigma-Aldrich Co. LLC, Thermo Fisher Scientific Inc., Verni Gas Corporation, Showa Denko K. K., Chemtura Corporation, Jiangsu Lanfeng Biochemical Co. Ltd., Astitva Chemicals, Arkema S.A., Honeywell International Inc., EssentialCo., Sontara Organo Industries, Johnson Matthey group, Tosoh Corporation, Tokyo Chemical Industry Co. Ltd., Jiangsu Furen Group, Avantor Inc., Denko Corporation

Asia-Pacific was the largest region in the hydrogen bromide market share in 2023. The regions covered in the hydrogen bromide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hydrogen bromide market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Hydrogen bromide finds application in various sectors such as biocides, flame retardants, catalysts, oil and gas drilling, and polysilicon etching. Biocides, substances used for controlling harmful organisms, exist in gaseous and liquid forms. They serve diverse industries including water treatment, electronics, construction, agriculture, automotive, among others.

This report provides hydrogen bromide market statistics, including hydrogen bromide industry global market size, regional shares, competitors with a hydrogen bromide market share, detailed hydrogen bromide market segments, market trends and opportunities, and any further data you may need to thrive in the hydrogen bromide industry. This hydrogen bromide market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The hydrogen bromide market consists of hydrobromic acid, anhydrous hydrobromic acid, and bromine. Values in this market are ‘factory gate’ values, that is the value of the goods sold by the manufacturers or creator of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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