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Bromobenzene Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, Germany, Japan, China, UK - Size and Forecast 2024-2028

Bromobenzene Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, Germany, Japan, China, UK - Size and Forecast 2024-2028

Published: Jul 2024 132 Pages SKU: IRTNTR72499

Market Overview at a Glance

$144.6 Mn
Market Opportunity
4.49%
CAGR
4.23
YoY growth 2023-2024(%)

Bromobenzene Market Size 2024-2028

The bromobenzene market size is forecast to increase by USD 144.6 million at a CAGR of 4.49% between 2023 and 2028.

  • The market is witnessing significant growth due to several key factors. One of the primary drivers is the expanding pharmaceutical industry, which utilizes bromobenzene as a crucial intermediate In the production of various drugs. Another trend influencing market growth is the increasing application of benzoic acid, a derivative of bromobenzene, in various industries such as food and beverages, pharmaceuticals, and agriculture. Furthermore, fluctuating prices of benzene in developing countries are creating opportunities for bromobenzene producers In these regions. However, challenges such as stringent regulations and environmental concerns related to the production and use of bromobenzene may hamper market growth. In summary, the market is poised for growth due to its increasing application in various industries, particularly In the pharmaceutical sector, and the opportunities presented by price fluctuations in developing countries.
  • However, regulatory challenges and environmental concerns pose significant challenges that need to be addressed to ensure sustainable market growth.

    • What will be the Size of the Bromobenzene Market During the Forecast Period?

    Bromobenzene Market Size

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  • The market encompasses the production, sale, and utilization of bromobenzene and its derivatives, primarily chlorine-substituted compounds such as co-polymers and bi-phenyls. These compounds find extensive applications as chemical intermediates in various industries. Notably, bromobenzene is used In the synthesis of phenylmagnesium bromide, a Grignard reagent, which plays a crucial role in organic synthesis. The market is driven by the end-user segments, including pharmaceuticals, agrochemicals, and polymers. Bromobenzene's versatility is evident in its applications In the production of benzoic acid, secondary amines, benzophenones, and solvents like diethyl ether and THF (tetrahydrofuran). In the chemical industry, bromobenzene is employed in Suzuki reactions, further expanding its scope.
  • As a cost-effective and efficient chemical intermediate, it continues to be in high demand across the globe. At the country level, market dynamics and trends vary, with factors such as production capacity, regulatory frameworks, and economic conditions influencing the market's growth.

    • How is this Bromobenzene Industry segmented and which is the largest segment?

    The bromobenzene industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

    • Product
      • phenylmagnesium bromide
      • phencyclidine
    • Geography
      • North America
        • US
      • Europe
        • Germany
        • UK
      • APAC
        • China
        • Japan
      • South America
        • Middle East and Africa

        By Product Insights

        • The phenylmagnesium bromide segment is estimated to witness significant growth during the forecast period.

        Phenylmagnesium bromide, a magnesium-containing organometallic compound, is commercially available as a solution in diethyl ether or Tetrahydrofuran (THF). This versatile reagent, known as a Grignard reagent, is essential for organic and organometallic synthesis. It is used to produce phenyl aryl sulfides, sulphoxides, and sulphones. Phenylmagnesium bromide plays a significant role In the preparation of various chemicals, including benzoic acid, secondary amines, benzophenones, and other compounds. Benzoic acid, a crucial byproduct, is extensively utilized in numerous industries, such as food and beverage, pharmaceutical, adhesive and sealant, coating, and chemical sectors, due to its excellent solubility and antifungal properties. As a solvent and chemical intermediate, bromobenzene contributes to the production of chlorine-substituted compounds, co-polymers, bi-phenyls, and other materials.

        Market growth is driven by increasing demand from the plastic industry, e-retail & e-commerce, and pharmaceutical sectors. Market consolidation and competition from key players, including BASF, DuPont, Lanxess, Bayer, ChemSampCo, Hawks Chemical, Heranba Industries, Shandong Henglian Chemical, and Shanghai Wescco Chemical, pose challenges. Companies like Alfa Aesar, Merck KGaA, Exxon Mobil Corporation, SONTARA ORGANO INDUSTRIES, and Ace Matrix leverage their strengths in research and development, production capacity, and geographical reach to capitalize on opportunities and mitigate threats.

        Bromobenzene Market Size

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        The phenylmagnesium bromide segment was valued at USD 312.90 million in 2018 and showed a gradual increase during the forecast period.

        Regional Analysis

        • North America is estimated to contribute 39% to the growth of the global market during the forecast period.

        Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

        Bromobenzene Market Share by Geography

        For more insights on the market share of various regions, Request Free Sample

        The North American market holds a significant position In the global bromobenzene industry, driven by the region's robust industrial growth and expanding pharmaceutical sector. The increasing population and urbanization have fueled the demand for bromobenzene as a versatile solvent and chemical intermediate. The automotive industry's growth, fueled by rising disposable income, further boosts demand. Favorable factors, such as low production costs, abundant raw materials, and skilled labor, enhance production efficiency. Exports to Asia Pacific and Europe contribute substantially to North America's market share. Key end-user segments include the pharmaceutical industry, plastic manufacturing, and the production of co-polymers, chlorine-substituted compounds, bi-phenyls, benzophenones, and secondary amines.

        Key producers include major chemical companies such as BASF, DuPont, Lanxess, Bayer, ChemSampCo, Hawks Chemical, Heranba Industries, Shandong Henglian Chemical, and Shanghai Wescco Chemical.

        Market Dynamics

        Our  researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

        What are the key market drivers leading to the rise In the adoption of Bromobenzene Industry?

        Growth in pharmaceutical industry is the key driver of the market.

      • Bromobenzene is a significant chemical intermediate In the production of chlorine-substituted compounds, including co-polymers, bi-phenyls, and various organic chemicals. In the chemical industry, bromobenzene is used as a starting material for the synthesis of phenylmagnesium bromide, a Grignard reagent, which is employed in various organic reactions, such as those involving benzoic acid, secondary amines, benzophenones, and diethyl ether or THF (Tetrahydrofuran). The Suzuki reaction, a popular palladium-catalyzed coupling reaction, utilizes bromobenzene as a key component In the synthesis of various pharmaceutical intermediates, including those used In the production of phencyclidine and other pharmaceutical compounds. The increasing demand for plastics and the expansion of the e-retail and e-commerce sectors are expected to boost the demand for bromobenzene In the coming years.
      • However, market consolidation among key players, including Hawks Chemical Company, Alfa Aesar, Merck KGaA, Exxon Mobil Corporation, SONTARA ORGANO INDUSTRIES, and others, may impact the market dynamics. Assumptions in our study include a steady growth In the pharmaceutical industry, increasing demand for plastics, and a stable market for organic chemicals. The executive summary of our analysis of the market provides an overview of the market size, growth trends, and key drivers and challenges. Our industry value-chain analysis examines the various stages involved In the production and distribution of bromobenzene, from raw material sourcing to end-user segments. Despite its widespread use, bromobenzene faces challenges such as its toxicity and potential environmental hazards.
      • Companies must address these concerns to maintaIn their market position and expand their footprint. Strengths of key players include their strong industry and regional footprint, while weaknesses may include high production costs and limited product diversification. Opportunities for growth include expanding into emerging markets and developing new applications for bromobenzene. Threats include increasing competition and regulatory restrictions on the use of bromobenzene due to its potential health and environmental risks. Ace Matrix, BASF, DuPont, Lanxess, Bayer, ChemSampCo, Hawks Chemical, Heranba Industries, Shandong Henglian Chemical, and Shanghai Wescco Chemical are among the key players In the market. Our analysis provides a comprehensive overview of each company's strengths, weaknesses, opportunities, and threats, enabling businesses to make informed decisions and strategies.

        • What are the market trends shaping the Bromobenzene Industry?

        Rising application of benzoic acid is the upcoming market trend.

      • Bromobenzene, a chlorine-substituted compound, plays a significant role as a solvent and chemical intermediate in various industries. The production of co-polymers, such as those based on bi-phenyls, is a major application area for bromobenzene. In the chemical industry, bromobenzene is used to synthesize phenylmagnesium bromide, a Grignard reagent, which is employed In the production of benzoic acid and secondary amines. Benzoic acid and its derivatives, including benzophenones, are essential intermediates In the synthesis of various industrial chemicals. The rising demand for these compounds is driven by their extensive use in various end-user segments, including the plastic industry, E-retail & e-commerce, and others.
      • The increasing consumption of packaged food, which utilizes benzoic acid as a preservative, is a significant factor fueling the demand for bromobenzene. The chemical industry value chain for bromobenzene involves various stages, including raw material sourcing, production, distribution, and end-use applications. Key players In the market include Alfa Aesar, Merck KGaA, Exxon Mobil Corporation, SONTARA ORGANO INDUSTRIES, and others. Market consolidation, cost, and regional footprint are some of the critical factors shaping the competitive landscape. Despite the market growth drivers, the market faces challenges such as stringent regulations and environmental concerns. Companies must address these challenges to maintaIn their market position and capitalize on opportunities, such as the increasing demand for sustainable chemicals and the development of new applications.
      • Companies can also leverage their strengths, such as strong research and development capabilities, to expand their industry footprint and mitigate threats, such as price volatility and supply chain disruptions. In conclusion, the market is expected to grow due to the increasing demand for its derivatives, particularly In the plastic industry and food preservatives. Companies must navigate the challenges and capitalize on opportunities to maintaIn their market position and drive growth. Ace Matrix, BASF, DuPont, Lanxess, Bayer, ChemSampCo, Hawks Chemical, Heranba Industries, Shandong Henglian Chemical, and Shanghai Wescco Chemical are some of the key players In the market. The market dynamics, including growth drivers, challenges, company strengths, weaknesses, opportunities, and threats, are crucial factors shaping the future of the market.

        • What challenges does the Bromobenzene Industry face during its growth?

        Fluctuating prices of benzene in developing countries is a key challenge affecting the industry growth.

      • Bromobenzene is a vital chlorine-substituted compound derived from the reaction of bromine with benzene, catalyzed by Lewis acids like aluminum chloride or ferric bromide. The market for bromobenzene is significantly influenced by the price fluctuations of its primary raw material, benzene. In 2021, China, being a significant consumer and manufacturer of benzene, experienced price volatility, with the highest price recorded in July at USD1328/ton and the lowest in January at USD697/ton. This price instability poses a considerable challenge for The market, as benzene is a crucial ingredient in its production. Bromobenzene is employed as a solvent and chemical intermediate in various industries, including the production of co-polymers, bi-phenyls, phenylmagnesium bromide, and Grignard reagents.
      • It also finds applications In the synthesis of secondary amines, benzoic acid, benzophenones, and Suzuki reactions. In the plastic industry, bromobenzene is used as a monomer for producing polymers. Additionally, it is utilized In the manufacturing of certain pharmaceuticals like phencyclidine. Despite the challenges, the market is expected to grow due to its wide range of applications. Key players In the industry include Hawks Chemical Company, Alfa Aesar, Merck KGaA, Exxon Mobil Corporation, SONTARA ORGANO INDUSTRIES, and others. The market's growth is driven by increasing demand from end-user segments like the plastic industry, e-retail & e-commerce, and pharmaceuticals. Market consolidation and strategic collaborations among key players are also contributing to the market's expansion.
      • Despite these growth opportunities, the market faces challenges such as stringent regulations and the availability of alternative raw materials. Companies must focus on improving their operational efficiency, expanding their product offerings, and exploring new applications to maintaIn their competitive edge. Additionally, they must adapt to the evolving market trends and customer preferences to remain successful. In conclusion, the market is a dynamic and evolving industry, influenced by various factors such as raw material prices, end-user demand, and regulatory environment. Companies must navigate these challenges and capitalize on growth opportunities to succeed in this market. Ace Matrix, BASF, DuPont, Lanxess, Bayer, ChemSampCo, Heranba Industries, Shandong Henglian Chemical, and Shanghai Wescco Chemical are some of the key players in this market.
      • Understanding the market dynamics and staying updated on industry trends is crucial for companies to thrive in this competitive landscape.

        • Exclusive Customer Landscape

        The bromobenzene market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the bromobenzene market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

        Bromobenzene Market Share by Geography

         Customer Landscape

        Key Companies & Market Insights

        Companies are implementing various strategies, such as strategic alliances, bromobenzene market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.

        AB Enterprises - The market encompasses the production and distribution of compounds such as 3-Aminobromobenzene and 4-Aminobromobenzene. These chemicals are integral components in various industries, including pharmaceuticals and agrochemicals, due to their unique properties. The demand for these compounds is driven by their applications In the synthesis of pharmaceutical intermediates and agrochemicals. Market growth is influenced by factors such as increasing demand for pharmaceuticals and agrochemicals, regulatory approvals, and technological advancements in production methods. Despite challenges, including stringent regulations and environmental concerns, the market is expected to exhibit steady growth In the foreseeable future.

        The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

        • AB Enterprises
        • Joshi Agrochem Pharma Pvt. Ltd.
        • Bhavika Chemicals Corp.
        • Bromorganics Corp.
        • ChemSampCo LLC
        • Heranba Industries Ltd.
        • Krishna Solvechem Ltd
        • LGC Group
        • Merck KGaA
        • Mody Chemi Pharma Ltd.
        • Neogen Chemicals Ltd.
        • Otto Chemie Pvt. Ltd.
        • RXChemicals
        • SAM Laboratories Pvt. Ltd.
        • Simson Pharma Ltd.
        • Sisco Research Laboratories Pvt. Ltd.
        • Sontara Organo Industries
        • Thermo Fisher Scientific Inc.
        • Tokyo Chemical Industry Co. Ltd.
        • Yancheng Longshen Chemical Co. Ltd.

        Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

        Research Analyst Overview

        Bromobenzene, a vital chlorine-substituted compound, occupies a significant role In the realm of specialty chemicals. This organic compound, characterized by the presence of a bromine atom attached to a benzene ring, finds extensive applications in various industries due to its unique chemical properties. Co-polymers and bi-phenyls are two primary end-user segments that significantly contribute to the demand for bromobenzene. In the production of co-polymers, bromobenzene acts as a monomer, resulting in polymers with enhanced thermal stability and improved resistance to degradation. Bi-phenyls, on the other hand, are essential intermediates In the synthesis of various pharmaceuticals and agrochemicals. The chemical industry's value chain for bromobenzene is intricate, with several processes involved in its production.

        Phenylmagnesium bromide, derived from bromobenzene through the Grignard reaction, is a crucial intermediate in organic synthesis. Benzoic acid and secondary amines are other chemicals that undergo reactions with bromobenzene, leading to the formation of benzophenones and other derivatives. Bromobenzene is a versatile solvent, employed in various applications, including Suzuki reactions, a popular method for forming carbon-carbon bonds in organic synthesis. It is also used In the production of phencyclidine, a dissociative anesthetic. The plastic industry is another significant end-user segment for bromobenzene. It is used as a monomer In the production of polymers, contributing to the growth of this industry.

        The e-retail and e-commerce sectors have also witnessed an increase in demand for bromobenzene due to the surge in online sales and the convenience they offer. Market consolidation is a notable trend In the market, with major players expanding their presence through acquisitions and strategic partnerships. Hawks Chemical Company, Alfasigma, Merck KGaA, ExxonMobil Corporation, Sontara Organo Industries, and other prominent players are continuously striving to strengthen their market position. The production cost of bromobenzene is a critical factor influencing its market dynamics. Market growth drivers include the increasing demand from various end-user industries and the ongoing research and development activities In the chemical industry.

        Market challenges include stringent regulations and the availability of substitutes. Company strengths, weaknesses, opportunities, and threats (SWOT analysis) are essential factors that influence the competitive landscape of the market. Companies with a strong research and development capability and a broad product portfolio are well-positioned to capitalize on market opportunities. Companies with a weak market position may face challenges in terms of competition and profitability. Company regional footprint and industry footprint are other critical factors that influence the competitive landscape. BASF, DuPont, Lanxess, Bayer, Chemsampco, Hawks Chemical, Heranba Industries, Shandong Henglian Chemical, and Shanghai Wescco Chemical are some of the major players with a significant presence In the market.

        In conclusion, the market is a dynamic and complex ecosystem, driven by various factors, including end-user demand, production costs, and market trends. Companies operating in this market must continuously adapt to these factors to maintaIn their competitive edge. The ACE Matrix analysis can provide valuable insights into the competitive landscape, helping companies make informed strategic decisions.

        Market Scope

        Report Coverage

        Details

        Page number

        132

        Base year

        2023

        Historic period

        		 2018-2022

        Forecast period

        2024-2028

        Growth momentum & CAGR

        Accelerate at a CAGR of 4.49%

        Market growth 2024-2028

        USD 144.6 million

        Market structure

        Fragmented

        YoY growth 2023-2024(%)

        4.23

        Key countries

        US, Germany, Japan, China, and UK

        Competitive landscape

        Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

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        What are the Key Data Covered in this Bromobenzene Market Research and Growth Report?

        • CAGR of the Bromobenzene industry during the forecast period
        • Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
        • Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
        • Accurate predictions about upcoming growth and trends and changes in consumer behaviour
        • Growth of the market across North America, Europe, APAC, South America, and Middle East and Africa
        • Thorough analysis of the market’s competitive landscape and detailed information about companies
        • Comprehensive analysis of factors that will challenge the bromobenzene market growth of industry companies

        We can help! Our analysts can customize this bromobenzene market research report to meet your requirements.

        Get in touch

         

        Table of Contents not available.

        Research Methodology

        Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

        INFORMATION SOURCES

        Primary sources

        • Manufacturers and suppliers
        • Channel partners
        • Industry experts
        • Strategic decision makers

        Secondary sources

        • Industry journals and periodicals
        • Government data
        • Financial reports of key industry players
        • Historical data
        • Press releases

        DATA ANALYSIS

        Data Synthesis

        • Collation of data
        • Estimation of key figures
        • Analysis of derived insights

        Data Validation

        • Triangulation with data models
        • Reference against proprietary databases
        • Corroboration with industry experts

        REPORT WRITING

        Qualitative

        • Market drivers
        • Market challenges
        • Market trends
        • Five forces analysis

        Quantitative

        • Market size and forecast
        • Market segmentation
        • Geographical insights
        • Competitive landscape

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        Frequently Asked Questions

        Bromobenzene market growth will increase by $ 144.6 mn during 2024-2028.

        The Bromobenzene market is expected to grow at a CAGR of 4.49% during 2024-2028.

        Bromobenzene market is segmented by Product( phenylmagnesium bromide, phencyclidine)

        AB Enterprises, Joshi Agrochem Pharma Pvt. Ltd., Bhavika Chemicals Corp., Bromorganics Corp., ChemSampCo LLC, Heranba Industries Ltd., Krishna Solvechem Ltd, LGC Group, Merck KGaA, Mody Chemi Pharma Ltd., Neogen Chemicals Ltd., Otto Chemie Pvt. Ltd., RXChemicals, SAM Laboratories Pvt. Ltd., Simson Pharma Ltd., Sisco Research Laboratories Pvt. Ltd., Sontara Organo Industries, Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co. Ltd., Yancheng Longshen Chemical Co. Ltd. are a few of the key vendors in the Bromobenzene market.

        North America will register the highest growth rate of 39% among the other regions. Therefore, the Bromobenzene market in North America is expected to garner significant business opportunities for the vendors during the forecast period.

        US, Germany, Japan, China, UK

        • Growth in pharmaceutical industryBromobenzene has application in the pharmaceutical industry. Bromobenzene introduces a phenyl group via palladium-catalyzed coupling reactions is the driving factor this market.
        • also called the Suzuki reaction. The Suzuki coupling reaction is scalable and cost-effective for use in the synthesis intermediates for pharmaceuticals. For instance is the driving factor this market.
        • Abbott Laboratories uses a Suzuki reaction for potent COX-2 inhibitor. Therefore is the driving factor this market.
        • the growing pharmaceutical market will drive the demand for bromobenzene during the forecast market.  The global life expectancy recorded a substantial increment during the past couple of years. With the increase in average life expectancy is the driving factor this market.
        • global pharmaceutical sale is expected to rise during the forecast period. The growing aging population is expected to increase the sales of prescription drugs. In addition is the driving factor this market.
        • the increasing health awareness and the growing medicinal knowledge of people with the help of the Internet are increasing the sales of over-the-counter (OTC) drugs. OTC drug manufacturers are introducing specific medicines for treating minor ailments by understating consumer requirements. This is the driving factor this market.
        • in turn is the driving factor this market.
        • increases their overall sales. Moreover is the driving factor this market.
        • the growth of the market has further been augmented by the ongoing COVID-19 pandemic is the driving factor this market.
        • which has increased the demand for pharmaceuticals across the world. The growth in the sales of pharmaceutical products is expected to increase the demand for bromobenzene during the forecast period. is the driving factor this market.

        The Bromobenzene market vendors should focus on grabbing business opportunities from the phenylmagnesium bromide segment as it accounted for the largest market share in the base year.