Calcium Bromide Market

Calcium Bromide Market Overview

Global Calcium Bromide demand is anticipated to be valued at US$ 5.3 Billion in 2022, forecast to grow at a CAGR of 5.2% to be valued at US$ 8.8 Billion from 2022 to 2032.

Calcium bromide is a white powder with no odor that is made from the calcium salt of hydrotropic acid, a volatile acid used to make other industrial compounds. Clear brine fluid is calcium bromide (molecular formula: CaBr2), which has a density of 14.2 lbs/gal. In oil and gas completion and drilling operations, calcium bromide is combined with calcium chloride to render drill cuttings brine-free.

Calcium bromide is also used as an oxidizer in the power industry to reduce mercury emissions. In addition, calcium bromide is used in neurosis medication, hydraulic fluids in automotive suspension, brominates flame retardants, photography for making dry plates and light-sensitive papers, and mercury emission controls.

Which are Some Prominent Drivers Spearheading Calcium Bromide Market Growth?

The application of calcium bromide in the oil and gas industry has a significant impact on market demand. Crude oil price stability has resulted in an influx of investments in the oil and gas industry, driving drilling and production activities as well as work-over operations. Clear brine fluids, such as calcium bromide, are used to protect oil and gas reservoirs and control formation pressure. This has resulted in significant demand for the calcium bromide market.

Furthermore, calcium bromide is used to reduce mercury emissions from coal-fired power plants. At combustion temperatures, it is difficult to capture the elemental mercury that is released when coal is burned. As a result, bromine-based compounds like calcium bromide are used to oxidize elemental mercury into flue gas, which can be captured by current abetment equipment.

What are the Challenges Faced by the Calcium Bromide Industry?

Calcium bromide consumption is expected to decrease as a result of the development of stringent government regulations encouraging the use of halogenated flame retardants in various countries. This could be a major impediment to the calcium bromide market's growth rate during the forecast period.

Why is North America emerging as an Opportunistic Calcium Bromide Market?

Calcium bromide is gaining popularity in the oil and gas drilling industry as a superior alternative to traditional drilling fluids. Increasing deep sea reserve exploration and production, increasing instances of horizontal drilling due to reservoir complexities, and consistent efforts from various developing nations to achieve energy security are some of the factors contributing to the growth of the oil and gas industry, which in turn is driving calcium bromide demand. Booming shale gas production in the United States is expected to significantly increase oil and gas drilling activity in the coming years.

Nikhil Kaitwade

Principal Consultant

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How is Asia Contributing to Growth of the Calcium Bromide Market?

According to Future Market Insights, Due to lenient regulations, Asian markets such as India and China continue to see high usage of brominates flame retardants, which is expected to drive calcium bromide demand in these countries. Production of coal bed methane gas is expected to increase significantly in China, India, and Australia in the coming years. As a result, calcium bromide market vendors are expected to generate significant revenue by targeting oil and gas producers involved in the development of these unconventional reservoirs.

Market Competition

Some of the major participants operating in the global calcium bromide market include the following players: Tetra Technologies Inc, Albemarle Corporation, Lanxess AG, ICL- Industrial, Jordan Bromine Company, IRO GROUP INC., Weifang Taihexing Chemical Industry, Neogen Chemicals Limited, and Shouguang HongHai Chemical Co. Ltd., Weifang Rixing Chemical Co., Ltd. and Shandong Dongxin New Materials Technology Co., Ltd.

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Report Scope

Key Segments Profiled in the Calcium Bromide Industry Survey

Type:

• 7774-34-7 hexahydrate
• 7789-41-5 anhydrous
• 22208-73-7 dihydrate

Products:

• Technically specified rubber (TSR)
• Ribbed smoked sheet (RSS)
• Latex
• Others

End Use:

• Oil & Gas
• Automotive
• Power Generation
• Others

Application:

• Clear brine fluid
• Oxidizer

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Middle East & Africa
• APEJ
• Japan