Changing Trends in Calcium Bromide Market Size Estimated to Touch USD 15.1 Billion by 2030 Will Grow at 7.9% CAGR | Global Chemicals & Materials Industry

Dallas, TX, April 20, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Calcium Bromide Market By Products (Technically Specified Rubber, Latex, And Ribbed Smoked Sheet), By End-Use (Oil & Gas, Power Generation, And Automotive), By Application (Clear Brine Fluid And Oxidizer), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Calcium Bromide Market size & share in terms of revenue was valued at USD 12.1 Billion in 2022 and it is expected to surpass around USD 15.1 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 7.9% during the forecast period 2023 to 2030.”

What is Calcium Bromide? How big is the Calcium Bromide Industry?

Calcium Bromide Industry Coverage & Overview:

Calcium bromide, which is a chemical compound, consists of calcium and bromine elements as its ingredients. Moreover, it is odorless and is made up of calcium salt. The compound is used in numerous applications such as freezing mixtures, oil & gas, drilling fluids, pharmaceuticals, and flame retardants. Furthermore, the compound is utilized as an oxidizer across the power sector for minimizing mercury emissions.

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Global Calcium Bromide Market: Growth Dynamics

Massive penetration of the product in the oil & gas sector will benefit the expansion of the calcium bromide market across the globe. Moreover, stability in crude oil costs due to large-scale exports of crude oil at reasonable costs to countries such as India and China have translated into humungous investments in the oil & gas sector, thereby steering the global calcium bromide market demand. In addition to this, calcium bromide can be utilized for protecting oil & gas reserves apart from controlling formation pressures. Furthermore, calcium bromide is utilized for oxidizing mercury into the flue gas, and this has enhanced the popularity of the product.

Nevertheless, enforcement of strict government laws promoting the use of halogenated flame retardants can put brakes on the global calcium bromide industry. Stringent emission norms can further impede the growth of the industry across the globe. However, large-scale demand for coal-fired units in the underdeveloped as well as developed countries of Africa and Asia will open new opportunities for growth for the global industry.

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Report Scope

Calcium Bromide Market: Segmentation Analysis

The global calcium bromide market is divided into products, end-use, application, and region.

The product segment of the calcium bromide market is sub-divided into latex, technically specified rubber, and ribbed smoked sheet segments. Furthermore, the latex segment, which dominated the segmental surge in 2022, is slated to retain its segmental dominance in the near future. The segmental expansion over 2023-2030 can be subject to a rise in the use of the product in glove manufacturing along with producing of sporting goods, rubber bands, mattresses, balloons, and tennis shoes.

On basis of end-use, the calcium bromide industry across the globe is sectored into oil & gas, power generation, and automotive segments. Moreover, the oil & gas segment, which accounted for the major share of the global market in 2022, is anticipated to dominate the segmental surge in the years ahead. The growth of the segment can be attributed to the large-scale use of calcium bromide in the oil & gas sector owing to its massive use in oil drilling activities.  

Based on the application, the global calcium bromide market is divided into clear brine fluid and oxidizer segments. The oxidizer segment, which lead the global industry share in 2022, is anticipated to record the fastest CAGR during the forecast timeline. The growth of the segment in the upcoming years can be subject to the large-scale application of oxidizers for treating waste gas and emissions containing hazardous pollutants through thermally decomposing them into stable compounds.

The global Calcium Bromide market is segmented as follows:

By Products

• Technically Specified Rubber
• Latex
• Ribbed Smoked Sheet

By End-Use

• Oil & Gas
• Power Generation
• Automotive

By Application

• Clear Brine Fluid
•  Oxidizer

Browse the full “Calcium Bromide Market By Products (Technically Specified Rubber, Latex, And Ribbed Smoked Sheet), By End-Use (Oil & Gas, Power Generation, And Automotive), By Application (Clear Brine Fluid And Oxidizer), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/calcium-bromide-market

Competitive Landscape

Some of the main competitors dominating 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
• JBC
• Innophos

Key Insights from Primary Research:

• As per the analysis shared by our research analyst, the global calcium bromide market is projected to expand annually at the annual growth rate of around 7.9% over the forecast timespan (2023-2030)
• In terms of revenue, the global calcium bromide market was evaluated at nearly $12.1 billion in 2022 and is expected to reach $15.1 billion by 2030.
• The global market is anticipated to record massive growth over the forecast period owing to large-scale use of the product in chemical & specialty chemicals, petrochemicals, heavy industry, metals & materials, and energy & mining sectors.
• Based on products, the latex segment is predicted to contribute majorly towards the market growth over the forecast timeline.
• In terms of application, the oxidizer segment is slated to record the fastest CAGR over 2023-2030.
• On basis of end-use, the oil & gas segment is predicted to make major contributions towards the global market share over 2023-2030
• Region-wise, the North American calcium bromide market is projected to register the highest CAGR during the assessment period.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Calcium Bromide industry?
• What are the main driving factors propelling the Calcium Bromide Market forward?
• What are the leading companies in the Calcium Bromide Industry?
• What segments does the Calcium Bromide Market cover?
• How can I receive a free copy of the Calcium Bromide Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Products, By End-Use, By Application, And By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

the calcium bromide market in North America is predicted to record the highest CAGR in the upcoming years during the forecast timeline. The expansion of the market in North America can be attributed to a massive demand for calcium bromide in crude oil production in the countries such as the U.S. and Canada. Furthermore, the increase in the utility of the product in the oil & gas sector has further prompted regional market growth.

Apart from this, the Asia-Pacific calcium bromide industry is projected to dominate the global market share over the forecasting timeframe owing to the large-scale use of calcium bromide in coal-fired units in emerging economies including India, Laos, Thailand, Nepal, China, Philippines, Indonesia, Thailand, and Burma. The surge in the utility of the chemical compound in coal bed methane gas is will contribute lucratively towards the calcium bromide market proceeds in the Asia-Pacific region.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In the first half of 2023, Laxness AG, a key Germany-based firm manufacturing specialty chemicals manufacturing, joined hands with TotalEnergies SE, a firm in France and in the energy & petroleum sector, have signed an agreement for providing bicircular styrene to the customers. The initiative will enhance the manufacture of calcium bromide in the ensuing years.  
• In the second half of 2022, Merck KGaA, a key division of the science & technology firm and technology firm, has increased investments in research & development activities. The strategic initiative will prop the scope of the growth of the calcium bromide market in European countries as well as across North America.
• In the first half of 2022, Neogen Chemicals Ltd., a firm manufacturing bromine compounds & inorganic lithium salts, entered into an alliance with MU Ionic Solutions Corporation, a joint venture firm of Mitsubishi Chemical firm & UBE corporation. As per the deal, Neogen will receive a license from MU Ionic Solutions Corporation for offering Neogen’s electrolyte services at its manufacturing plants that are based in India. The move will boost the calcium bromide market revenue in the Asia-Pacific region.

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FREQUENTLY ASKED QUESTIONS

• What is calcium bromide?
• Which key factors will influence global calcium bromide market growth over 2023-2030?
• What will be the value of the global calcium bromide market during 2023-2030?
• What will be the CAGR value of the global calcium bromide market during 2023-2030?
• Which region will record the highest growth in the calcium bromide industry globally?
• Which are the major players leveraging the global calcium bromide market growth?

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