The global calcium bromide market size was evaluated at $12.1 Billion in 2022 and is slated to hit $15.1 Billion by the end of 2030 with a CAGR of nearly 7.9% between 2023 and 2030.
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➤ Growth in the global market revenue over 2023-2030 is anticipated as a result of the increasing penetration of the product in the power and energy sector.
The global calcium bromide market will experience growth worldwide due to the extensive utilization of calcium bromide as an oxidizer in the power and energy sector to reduce mercury emissions. The global market will be scaled up as a result of the product’s increased use in hydraulic lubricants, photography, neurosis medication, and flame retardants. Furthermore, the global market will be stimulated by an increase in the utilization of products in the oil and gas sector. The global market growth will be bolstered by the increase in demand for chemical bromide in coal-driven power units to reduce mercury emissions. There has been an increase in the prominence of products that are used as wood preservatives.
➤ The global industry’s expansion may be retarded by the chemical’s detrimental effects on the human body.
The global calcium bromide industry may be prevented from expanding due to stringent government regulations that encourage the use of halogenated flame retardants and regulate the use of calcium bromide. The use of the chemical substance in the future is further diminished by its potential to cause irritation to the skin, eyes, and respiratory tract. Dermatitis may result from protracted exposure to calcium bromide, according to the International Labor Organization. Additionally, its consumption can have a detrimental effect on the central nervous system, resulting in drowsiness, melancholy, headaches, and endocrine disorders in the participants.
➤ An increase in the utilization of calcium bromide in medicine and photography to create new growth opportunities for the global market
The global calcium bromide market will be able to explore new growth opportunities as a result of the extensive use of the product as a component of clear drilling, packaging fluids for controlling wellbore pressures, completion, and drilling. Additionally, the chemical compound has lucrative applications in medicine, photography, and other compounds, which could present new opportunities for development in the global market.
➤ The global industry’s development can be impeded by the adverse effects of the product’s widespread use.
Sedation, agitation, memory loss, lethargy, nausea, diarrhea, acne, hallucinations, delirium, and irritability are all symptoms of chemical bromide exposure. The global calcium bromide industry has been significantly challenged by the adverse impact of this on the chemical substance’s use.
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The Global Calcium Bromide Market is segmented based on product, application and region
Global Calcium Bromide Market: Product Segment Analysis
● Technically Specified Rubber
● Latex
● Ribbed Smoked Sheet
Global Calcium Bromide Market: Application Segment Analysis
● Oil & Gas
● Power Generation
● Automotive
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The global Calcium Bromide market profiles key players such as:
● TETRA Technologies Inc.
● LANXESS AG
● Albemarle Corporation
● SAMUH LAXMI CHEMICALS (BOM) P. LTD.
● ICL Industrial Products
● IRO GROUP INC.
● Spirochem Lifesciences Pvt Ltd.
● J.R. Simplot Company
● Chemcon Speciality Chemicals Ltd.
● Yogi Intermediates PVT LTD
● HARIKRISHNA ENTERPRISE
● Neogen Chemical Limited
● Merck KGaA
???? Recent Developments
• In January 2023, Laxness AG, a significant specialty chemicals manufacturing firm based in Germany, entered into a partnership agreement with TotalEnergies SE, a France-based firm in the energy and petroleum business, to supply bio-circular styrene. The production of calcium bromide will be stimulated by the transition in the years ahead.
• Merck KGaA, a division of The Merck Group, a German-based science and technology firm, intends to increase its allocation of funds to research and development activities in November 2022. The calcium bromide market in the United States, Canada, and Europe will be benefited by the move.
➤ The Asia-Pacific calcium bromide market is expected to experience significant growth in the years ahead.
It is anticipated that the Asia-Pacific region will dominate the regional market growth during the forecast period, as it accounted for half of the global calcium bromide market revenue share in 2022. The liberal laws regarding the use of the chemical compound in countries such as India, Thailand, Bangladesh, Sri Lanka, Laos, Nepal, China, the Philippines, Indonesia, Thailand, and Burma may affect the regional market surge from 2023 to 2030. The calcium bromide market revenue in the Asia-Pacific region is expected to be significantly impacted by the anticipated increase in the production of coal bed methane gas in India and China.
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