Global Bromobenzene Market to Reach US$ 96.2 Mn by 2028, Says Coherent Market Insights

SEATTLE, March 29, 2022 /PRNewswire/ -- According to Coherent Market Insights, The global bromobenzene market was valued at US$ 57.6 Mn in 2020 and is expected to exhibit a CAGR of 5.4% during the forecast period (2021-2028).

Key Trends and Analysis of the Global Bromobenzene Market:

Players operating in the bromobenzene market are focused on various growth strategies such as capacity expansion in order to strengthen their market position and meet the increasing demand for bromobenzene. For instance, in September 2020, Cambridge Isotope Laboratories, Inc. (a U.S.-based manufacturer of stable isotopes and stable isotope-labeled compounds) announced the capacity expansion for its deuterated benzene plant located in Xenia, Ohio. The capacity expansion includes the addition of two new reactors. The capacity expansion will help Cambridge Isotope Laboratories to meet the increasing demand for bromobenzene solvents from the electronic and pharmaceutical markets.

Increasing demand for Bromobenzene-d5 is expected to drive the bromobenzene market growth during forecast period. Bromobenzene-d5 is used in the manufacturing of electronic components and OLED displays. Additionally, pharmaceutical companies and CMOs (contract manufacturing organizations) utilize bromobenzene-d5 to manufacture deuterated active pharmaceutical ingredients (APIs).

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Key Market Takeaways

The global bromobenzene market is expected to exhibit a CAGR of 5.4% over the forecast period (2021-2028). Bromobenzene is used as an additive in motor oil. Growth of the automotive industry across the globe is expected to drive the demand for motor oil, which in turn, is expected to drive demand for bromobenzene during the forecast period. For instance, according to European Automobile Manufacturers Association, in June 2021, passenger car registrations in the European Union (EU) increased by 10.4% compared to the same month previous year. Germany posted the biggest gain with a 24.5% increase, followed by Spain (+17.1%) and Italy (+12.6%). Over the first half of 2021, EU demand for new cars grew by 25.2% to reach almost 5.4 million units registered in total.

Major players operating in the global bromobenzene market include CM Fine Chemicals GmbH, Hawks Chemical Company, Hebei Yingong New Material Technology Co., Ltd., Heranba Industries Ltd., Jiangsu Dacheng Pharmaceutical and Chemical Co., Ltd., Luyunjia Chemistry Xiamen Limited, Merck KGaA, Mody Chemi-Pharma Limited, RX MARINE INTERNATIONAL, and Yancheng Longsheng Chemical Co., Ltd.

Major players are opting strategies such as mergers, acquisitions, and capacity expansion, owing to rising demand for global bromobenzene market. For instance, In April 2021, In April, Heranba Industries Ltd. opened its office in Titanning District, Changzhous, Jiangsu, China. The new office helped Heranba Industries Ltd. To establish its presence in China.

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Detailed Segmentation:

Global Bromobenzene Market, By Product Type:

• Phenyl Magnesium Bromide
• Phencyclidine
• Others

Global Bromobenzene Market, By Application:

• Grignard Reagent
• Solvents
• Organic Chemical Synthesis
• Additives
• Pharmaceutical Intermediate
• Others

Global Bromobenzene Market, By Region:

• North America
• By Country:
• U.S.
• Canada
• Europe
• By Country:
• U.K.
• Germany
• Italy
• France
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• By Country:
• China
• India
• Japan
• ASEAN
• Australia
• South Korea
• Rest of Asia Pacific
• Latin America
• By Country:
• Brazil
• Mexico
• Argentina
• Rest of Latin America
• Middle East & Africa
• By Country:
• GCC Countries
• Israel
• South Africa
• Rest of Middle East & Africa

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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SOURCE Coherent Market Insights