Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 12.1 Billion | USD 15.1 Billion | 7.9% | 2022 |
FrequentlyAsked Questions
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.
The global calcium bromide market is projected to expand over 2023-2030 due to the massive use of calcium bromide as an oxidizer in the power & energy sector for minimizing mercury emanations.
According to study, the global calcium bromide market size was $12.1 billion in 2022 and is projected to reach $15.1 billion by the end of 2030.
The global calcium bromide market is anticipated to record a CAGR of nearly 7.9% from 2023 to 2030.
The North American calcium bromide industry is set to register the fastest CAGR over the forecasting period subject to increase in the oil & gas drilling activities as well as 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.
The global calcium bromide market is led by industry players such as 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, and Innophos.
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