Global Calcium Bromide Market: Overview
Demand for calcium bromide is increasing rapidly from coal fired plants, which have the responsibility and obligation to reduce mercury emissions. As government regulations strengthen, demand for the product will only go further up. Additionally, increase in exploration and extraction activity in the oil and gas industry is set to drive growth in the market over the forecast period of 2019 to 2027, as per Transparency Market Research. New growth opportunities are set to arise, driving market onto a higher market valuation. Region-wise, North America will hold considerable sway over the global calcium bromide market over the forecast period.
Global Calcium Bromide Market: Competitors Landscape
The global calcium Bromide Market is charting growth and players are actively seeking a share of this. Varied measures have been opted for and these are leading to emergence of notable developments in the market. These are shaping projections for the market for the coming few years and defining how the vendor landscape will operate in future.
Players belonging to the topmost tier of the fragmented vendor landscape of global calcium bromide market are the following:
- Tetra Technologies Inc
- Albemarle Corporation
- Lanxess AG
- ICL- Industrial
- Jordan Bromine Company
- IRO GROUP INC.
- Weifang Taihexing Chemical Industry
- Neogen Chemicals Limited
- Shouguang HongHai Chemical Co. Ltd.
- Weifang Rixing Chemical Co., Ltd.
- Shandong Dongxin New Materials Technology Co., Ltd.
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Global Calcium Bromide Market:Â Key Trends and Drivers
The calcium bromide market is on an upward growth trajectory. Many factors of growth are behind the upward facing slope of the market. Increase in exploration and extraction of oil is one of the most significant ones. A glimpse into prominent trends and drivers is provided below:
- The oil and gas industry is witnessing increase in volumes of extraction and exploration activities. New regional hotbeds have been found. These include Western Africa, Latin America, and the Mediterranean region. An impressive value of Barrels of Oil Equivalent is being discovered in the region. This factor is leading to significant growth in the global calcium bromide market over the forecast period, driving it on an upward growth trajectory. It is pertinent to note here that the product is used in this industry to ensure that damage to reservoirs is minimum and formation pressure is in control.
- Demand for calcium bromide for coal-fired power plants where it is used to control emission of mercury, which is hard to restraint at combustion temperature. But once it is oxidized into flue gas, abetment equipment is able to achieve the goal of capturing emissions. This again is a notable growth factor in the global calcium bromide market.
Global Motorcycle Market:Â Regional Analysis
A sizeable share of the global calcium bromide market will be held by North America owing to its dominant share in crude oil production. It is significant to note here that as exploration and extraction activities gain prominence, new opportunities will arise in the recently discovered hotbeds of Mediterranean region, Latin America, and Africa. These regions will therefore contribute massively to growth in the global calcium bromide market. European countries which will contribute moderately to this growth are Italy, Russia, France, and Spain. The growth in these would be a result of demand arising from automotive industry. Asia Pacific (APAC) region is set to drive growth too. As it witnesses rapid industrialization, demand for calcium bromide will go up.
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