Propionyl Bromide Market : Development Insight and Manufacturers Challenge Competitors
Propionyl bromide is also known as propanoyl bromide. The molecular formula of propionyl bromide is C3H5BrO and its boiling point is 104°C. It is blue-gray in color. Propionyl bromide is a highly flammable liquid and vapor. It reacts violently with water and is insoluble in organic solvents. Contact with excess amount of propionyl bromide can cause severe skin burns and eye damage. Its Council for the Advancement of Standards (CAS) number is 598-22-1. Propionyl bromide is stable at room temperature and pressure.
Propionyl Bromide Market: Segmentation Outlook
The global propionyl bromide market can be segmented based on form, type, application, and region. In terms of form, the market can be classified into liquid and powder. The powder segment is projected to expand at a fast pace during the forecast period. Increasing demand for generic medicines across the globe is estimated to create high requirement for powder propionyl bromide during the forecast period.
Based on type, the propionyl bromide market can be bifurcated into propionyl bromide-95% and propionyl bromide-99%. The propionyl bromide-99% segment is projected to expand at a considerable pace during the forecast period. High concentrated propionyl bromide-99% is non-corrosive in nature, has high purity, and low diffusivity. It is majorly employed in pharmaceutical applications. Increase in research & development activities in the pharmaceutical industry to treat diseases is a key factor propelling the market.
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In terms of application, the propionyl bromide market can be categorized into pharmaceuticals, medical, chemical synthesis, & others. The pharmaceuticals segment is projected to expand at a substantial pace during the forecast period. Rise in focus on cost-effective generic medicines to treat diseases is a key factor boosting the market during the forecast period. Additionally, propionyl bromide is used to produce organic compounds such as propanil, propionyl chloride, and carbonyl compounds. These organic compounds are mainly used in paint & coatings and agrochemical & textile applications. This, in turn, is expected to drive the market during the forecast period.
Propionyl Bromide Market: Regional Outlook
Based on region, the global propionyl bromide market can be divided into Asia Pacific, Europe, Latin America, North America, and Middle East & Africa. North America is expected to continue to dominate the market during the forecast period. Increases in demand for generic medicines in countries such as Canada and the U.S. is key factor to fueling the market in the region during the forecast period.
Asia Pacific is a major consumer of propionyl bromide. Increasing chemical industries, there will be high exposer of chemicals & toxic materials, due to this there may be increasing diseases & pollution in the surrounding environment. This is expected to increase the requirement for medicines. This, in turn, is projected to increase the demand for propionyl bromide during the forecast period. The propionyl bromide market in South Africa is expected to expand at a sluggish pace during the forecast period. Presence of undeveloped economy & lack of technological advancement, may restrain the market growth of propionyl bromide during the forecast period.
Propionyl Bromide Market: Key Players
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Small number of companies operate at the global and regional level, as the market is consolidated. Major companies operating in the global propionyl bromide market include Albemarle, Chemtura, ICL ltd, Jordan Bromine, Great Lakes, Chemada Fine Chemicals and Yancheng Longsheng Chemical, BASF, Eastman, Rao A, Mitsubishi Gas Chemical, Chevron Chemical, Chongqing Ziguang Chemical, and Suqian Xinya Technology.
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