Scienza e Tecnologia
Global Bromobenzene Market to Reach US$ 96.2 Mn by 2028, Says Coherent Market Insights
Players operating in the bromobenzene market are focused on various growth strategies such as capacity expansion in order to strengthen their market position and meet the increasing demand for bromobenzene. For instance, in September 2020 , Cambridge Isotope Laboratories, Inc. (a U.S.-based manufacturer of stable isotopes and stable isotope-labeled compounds) announced the capacity expansion for its deuterated benzene plant located in Xenia, Ohio . The capacity expansion includes the addition of two new reactors. The capacity expansion will help Cambridge Isotope Laboratories to meet the increasing demand for bromobenzene solvents from the electronic and pharmaceutical markets.
Increasing demand for Bromobenzene-d5 is expected to drive the growth during forecast period. Bromobenzene-d5 is used in the manufacturing of electronic components and OLED displays. Additionally, pharmaceutical companies and CMOs (contract manufacturing organizations) utilize bromobenzene-d5 to manufacture deuterated active pharmaceutical ingredients (APIs).
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The global bromobenzene market is expected to exhibit a CAGR of 5.4% over the forecast period (2021-2028). Bromobenzene is used as an additive in motor oil. Growth of the automotive industry across the globe is expected to drive the demand for motor oil, which in turn, is expected to drive demand for bromobenzene during the forecast period. For instance, according to European Automobile Manufacturers Association, in June 2021 , passenger car registrations in the European Union (EU) increased by 10.4% compared to the same month previous year. Germany posted the biggest gain with a 24.5% increase, followed by Spain (+17.1%) and Italy (+12.6%). Over the first half of 2021, EU demand for new cars grew by 25.2% to reach almost 5.4 million units registered in total.
Major players operating in the global bromobenzene market include CM Fine Chemicals GmbH, Hawks Chemical Company, Hebei Yingong New Material Technology Co., Ltd., Heranba Industries Ltd., Jiangsu Dacheng Pharmaceutical and Chemical Co., Ltd., Luyunjia Chemistry Xiamen Limited, Merck KGaA, Mody Chemi-Pharma Limited, RX MARINE INTERNATIONAL, and Yancheng Longsheng Chemical Co., Ltd.
Major players are opting strategies such as .
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