Calcium Bromide Market Size, Share, Trends, Growth 2030

Calcium Bromide Industry Perspective:

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.

The calcium bromide market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global marketplace. The report covers the geographical market along with a comprehensive competitive landscape analysis. Additionally, the calcium bromide industry report explores the investor and stakeholder space to help companies make data-driven decisions.

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Calcium Bromide Market: Overview

Calcium bromide is a chemical compound made from calcium as well as bromine. Moreover, it is a white powder that is odorless and is made from a calcium salt of volatile acid referred to as hydrotropic acid. It finds applications as drilling fluids, freezing mixtures, neuroses medication food preservatives, photography, and fire retardants. Furthermore, calcium bromide has a density of nearly 14.3 lbs. per gallon. Reportedly, in oil & gas drilling operations, the chemical compound is mixed with calcium chloride for rendering brine-free drill cuttings.

Key Insights

• 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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Calcium Bromide Market: Growth Factors

Surging penetration of product in the power & energy sector to add to the global market revenue over 2023-2030

Massive use of calcium bromide as an oxidizer in the power & energy sector for minimizing mercury emanations will push the global calcium bromide market growth across the globe. Surge in the application of the product in flame retardants, neurosis medication, photography, and hydraulic fluids will prompt the scaling up of the market across the globe. In addition to this, an increase in the use of products in the oil & gas sector will spur the market space globally. Increase in the demand for chemical bromide in coal-driven power units for reducing mercury emissions will elevate the global market growth. Rise in the use of products as a wood preservative has enhanced its popularity.  

Furthermore, calcium bromide undergoes complexation when in contact with triphenylphosphine oxide, thereby helping in removing triphenylphosphine oxide from the mixture reaction without making use of chromatography. This, in turn, will drive the global calcium bromide market trends. Large-scale use of the product in chemical & specialty chemicals, petrochemicals, heavy industry, metals & materials, and energy & mining sectors will steer the growth of the market across the globe.

Calcium Bromide Market: Hindrances

Harmful effects of the chemical on human body can put brakes on the global industry surge

Strict government legislation promoting the use of halogenated flame retardants and regulating the use of calcium bromide can put brakes on the growth of the global calcium bromide industry. The chemical substance can be irritating to the skin, eyes, and respiratory tract, thereby further decimating the use of the substance in the coming years. As per the international labor organization, prolonged contact of an individual with calcium bromide can cause dermatitis in the affected person. Moreover, its ingestion can also negatively impact the central nervous system, thereby causing depression, headache, endocrine disorders, and drowsiness in the subjects.

Calcium Bromide Market: Opportunities

Rise in use of the calcium bromide in photography & medicine to open new growth avenues for the global market

Humungous use of the product as a component of clear drilling, packing fluids for controlling wellbore pressures, completion, and drilling will open new growth avenues for the global calcium bromide market. Furthermore, the chemical substance finds lucrative applications in medicine, photography, and various other compounds that can open new facets of growth for the global market.

Calcium Bromide Market: Challenges

Adverse effects of massive use of product can be a challenging task for the industry growth globally

Chemical bromide causes sedation, agitation, memory loss, fatigue, nausea, diarrhea, acne, hallucinations, delirium, and irritability in an individual who comes in contact with it. This has adversely impacted the use of the chemical substance, thereby posing a huge challenge to the growth of the global calcium bromide industry.

Calcium Bromide Market: Segmentation

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

In terms of products, the global calcium bromide market is divided into latex, technically specified rubber, and ribbed smoked sheet segments. Furthermore, the latex segment, which accounted for more than 35% of the global market share in 2022, is slated to contribute majorly towards the global market share over 2023-2030. The segmental surge in the next eight years can be subject to a rise in the use of latex in producing gloves, mattresses, balloons, rubber bands, sporting goods, and tennis shoes.

On basis of the application, the global calcium bromide industry is sectored into clear brine fluid and oxidizer segments. The oxidizer segment, which contributed the largest share of the global industry in 2022, is set to record the fastest CAGR over the forecast timespan. The growth of the segment in the coming years can be a result of the large-scale use of oxidizers in fertilizers, cleaners, disinfectants, fuel, rocket propellants, and explosives. Moreover, these products are also used for destroying organic as well as liquid wastes.

Based on the end-use, the global calcium bromide market is segregated into oil & gas, power generation, and automotive segments. Moreover, the oil & gas segment, which accounted for 85% of the global market share in 2022, is predicted to lead the segmental growth in the years ahead. The growth of the segment can be attributed to the large-scale need for calcium bromide in oil & gas exploration and drilling activities.

Recent Breakthroughs

• In January 2023, Laxness AG, a major specialty chemicals manufacturing firm based in Germany., joined hands with TotalEnergies SE, a France-based firm in the energy & petroleum business, have signed a partnership agreement for supplying bio-circular styrene. The move will provide impetus to the production of calcium bromide in the coming years.   
• In November 2022, Merck KGaA, a division of The Merck Group -a Germany-based Science and technology firm, is aiming of increasing fund allocation to research & development activities. The move will benefit the calcium bromide market in Europe, Canada, and the U.S.
• In the first quarter of 2022, Neogen Chemicals Ltd., a firm manufacturing bromine-based compounds, inorganic lithium salts, and MU Ionic Solutions Corporation, a joint venture firm of Mitsubishi Chemical firm & UBE corporation, joined hands. As per the partnership deal, the former will acquire a license from the latter for proprietary manufacturing technology for Neogen’s electrolyte services at its production units in India. The initiative will boost the firm’s sale of calcium bromide in the Asia-Pacific region.

Calcium Bromide Market: Report Scope

Calcium Bromide Market: Regional Insights 

Asia-Pacific calcium bromide market to expand by leaps & bounds in the forecasting years

The Asia-Pacific region, which accounted for half of the global calcium bromide market revenue share in 2022, is anticipated to lead the regional market growth over the forecast timeframe. The regional market surge over 2023-2030 can be subject to liberal laws over the use of the chemical compound in the countries such as India, Thailand, Bangladesh, Sri Lanka, Laos, Nepal, China, Philippines, Indonesia, Thailand, and Burma. The rise in the manufacture of coal bed methane gas is likely to increase in India and China, thereby contributing majorly towards the calcium bromide market revenue in the Asia-Pacific zone.

On the other hand, the calcium bromide industry in North America is predicted to register the fastest CAGR in the forthcoming years. The regional market expansion over the forecast timeline can be due to an increase in the oil & gas drilling activities as well as the exploration of deep-sea reserves. Moreover, a rise in the export of fuel by countries such as the U.S. to emerging economies of Asia for helping them with energy security will proliferate the regional market size.

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Calcium Bromide Market: Competitive Space

The global calcium bromide market profiles key players such:

• 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.

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

By Region

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