Ammonium Bromide Market Forecast and CAGR
According to a recent research study by Fact.MR, the ammonium bromide market is anticipated to witness significant growth during 2021-2031. Demand will observe a steady boost in the medium run forecast, with an optimistic outlook over the long run. It is anticipated that the market is expected to be valued at US$ 1.8 Bn by 2031 end.
What is Driving Demand for Ammonium Bromide?
Ammonium bromide is an ammonium salt of hydrobromide acid. It has a saline taste and crystallizes in a colorless prism. It is effortlessly soluble in water and sublimes on heating. Because of oxidation when it is exposed to air it gets yellow because of the presence of bromide. It has applications in industries such as pharmaceutical, photography and others.
Ammonium bromides have several uses, it is used for photography is films, paper and plates. The use of the chemical is expected to surge in the photography industry. It is also used heavily in the furniture industry as it helps in fireproofing of wood. The furniture industry is rapidly increasing and hence the demand for ammonium bromide will also see a surge in upcoming years.
This chemical also has application for lithography, for printing from a metal plate or a stone. It is used in various industry as corrosion inhibitors as it is added in liquid and gas to reduce a corrosion rate of an alloy or a metal. Ammonium bromide is also expected to increase in demand as corrosion inhibitors.
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What Factors and Influencing Sales of Ammonium Bromide?
Pandemics such as COVID-19 are unforeseen and have impacted all economies across the globe. COVID-19 has also affected the demand for ammonium bromide. The imposition of lockdowns and production has disturbed the supply chain. However, the ease in lockdown restrictions and resuming of most of the industries will impact sales of this chemical.
Ammonium bromide is used for the preparation of pharmaceuticals. The health care and medical industry have grown significantly over the last decade and new advancement in the industry will help in growing the industry even more in forthcoming years and the use of this chemical in the pharmaceutical industry is expected to increase.
This chemical has some side effects due to its toxicity, but with proper precautions, these effects can be avoided. Increasing health issues and disease around the world and rapidly increasing population will influence the sales of this chemical in the assessment period.
Oxidized blended ammonium bromide is a proficient biocide which is used in various wastewater and industrial water system for prevention fungi, bacteria and algae. Owing to these factors the sales of ammonium bromide will be escalating in upcoming years.
The United States of America Ammonium Bromide Market Outlook
North America holds a large share of the ammonium bromide market. The USA is the biggest contributor in the region. In the last decade, the country has witnessed a significant advancement in the infrastructure and furniture industry which lead to sales of this chemical in the country.
This chemical has heavily used photography for films, paper & plates the country has the world’s biggest film industry and the largest media which have been significantly influential in sales of this chemical. The film industry is expected to grow even more in the assessment period which will further help in intensifying the demand for ammonium bromide in the country.
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Asian Countries Ammonium Bromide Market Outlook
Over the assessment period, Asia will be the fastest-growing region for the sales of ammonium bromide owing to its increased use in the pharmaceutical industry.
China is the largest producer of pharmaceuticals in the world, due to the huge pharmaceutical industry. The country has seen a huge growth in the production of pharmaceuticals in the country and it is expected that the industry will witness a desirable growth in forthcoming years as well and this will affect the sales of this chemical.
In countries like India, Japan and others the demand for ammonium bromide is expected to witness growth due to its use in the furniture industry.
Who are the Key Manufacturers and Suppliers of Ammonium Bromide?
Some of the leading manufacturers and suppliers of the Ammonium Bromide include Jordan Bromine, Honjo Chemical, Yogi Intermediate, Dhruv Chemicals, Albemarle, Perekop Bromine, S.A. Corporation, Longwei Industrial, Tanaka Ai, Sandvik Materials Technology, American Elements, Chemtura, ICL and other prominent players.
The market for ammonium bromide is fairly fragmented. Manufacturers are investing in the development of new products with the help of this chemical. They are investing to intensify the use of this chemical in the pharmaceutical industry.
An Adaptive Approach to Modern-day Research Needs
Ammonium Bromide Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
By Grade Type
- Chemical Grade
- Pharmaceutical Grade
- Photosynthesis Emulsion
- Stone Printing
- Fire Retardant
By Distribution Channel
- Online Channel
- E-commerce website
- Company Owned Website
- Offline Channel
- Department Store
- Specialty Store
- Retail Store
- Online Channel
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- East Asia
- South Korea
- South Asia & Oceania
- New Zealand
- Rest of South Asia & Oceania
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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