Calcium bromide is a chemical compound with the formula CaBr2. It is a white crystalline powder that is highly soluble in water, and it is commonly used in the oil and gas industry as a completion and workover fluid.
According to Zion Market Research, the size of the worldwide calcium bromide market was roughly $12.1 billion in 2022. It is expected that this number would spike to approximately $15.1 billion by 2030, along with registering the greatest growth rate of approximately 7.9% from 2023 to 2030.
Calcium Bromide Market Overview:
The chemical compound calcium bromide has the elements of calcium and bromine as its building blocks. In addition, the calcium salt component makes it odorless. The chemical has several different uses, including in antifreeze, drilling fluids, medicines, flame retardants, and other freezing mixes. In addition, the compound is used as an oxidizer in the power industry to cut down on mercury emissions.
The growth of the global calcium bromide market will be aided by the industry’s extensive use of the product in the oil and gas sector. Large-scale exports of crude oil at affordable prices to nations like India and China have translated into massive investments in the oil & gas sector, which in turn has steered the worldwide calcium bromide market. Calcium bromide is not only useful for regulating formation pressures, but also for safeguarding oil and gas reserves. Calcium bromide’s use in oxidizing mercury into the flue gas has also contributed to the compound’s rising profile.
However, the global calcium bromide sector can be slowed down by the enforcement of stringent government legislation encouraging the use of halogenated flame retardants. The global expansion of industry may be stymied by strict emission regulations. However, the worldwide sector will have new growth prospects because to the high demand for coal-fired units in both developing and industrialized countries in Africa and Asia.
There are product, end-use, application, and regional submarkets in the worldwide calcium bromide market.
Latex, technically defined rubber, and ribbed smoked sheet are the three main subsegments of the calcium bromide market’s product segment. In addition, the latex market, which led the climb in 2022, is expected to continue to lead the market in the near future. Glove production, together with that of sporting items, rubber bands, mattresses, balloons, and tennis shoes, may contribute to segment growth from 2023 to 2030.
Calcium bromide is used in a variety of industries, including oil and gas extraction, electric power generation, and the automobile industry. The oil and gas industry, which has made up the largest proportion of the global market in 2022, is also expected to lead the segmental growth in the coming years. Due to its widespread application in oil drilling, calcium bromide is largely responsible for the market’s expansion.
The global market for calcium bromide may be broken down into two distinct submarkets: clear brine fluid and oxidizer. The oxidizer market, which held the largest proportion of the global market in 2022, is expected to grow at the quickest rate overall. Large-scale use of oxidizers for treating waste gas and emissions containing hazardous pollutants by thermally degrading them into stable chemicals may contribute to the expansion of the market in the coming years.
In addition, the North American calcium bromide market is anticipated to grow at the fastest rate over the forecast period. Market growth in North America may be traced to the high demand for calcium bromide used in the extraction of crude oil in nations like the United States and Canada. The product’s growing importance in the oil and gas industry is also driving demand in the region.
In addition, the large-scale use of calcium bromide in coal-fired units in emerging economies like India, Laos, Thailand, Nepal, China, the Philippines, Indonesia, Thailand, and Burma is expected to cause the Asia-Pacific calcium bromide industry to dominate the global market share over the forecasting timeframe. Rising demand for calcium bromide from the coal bed methane gas industry is expected to provide substantial revenue for the market in Asia and the Pacific.
Key players in the global calcium bromide market include:
- 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
- Weifang Taihexing Chemical Industry Co. Ltd.
- Haihang Industry
- PARTH INDUSTRIES
- Universal Drilling Fluids
- SHANDONG DONGXIN NEW Materials Technology
The global calcium bromide market is segmented as follows:
- Technically Specified Rubber
- Ribbed Smoked Sheet
- Oil & Gas
- Power Generation
- Clear Brine Fluid
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa