Hydrobromic Acid Pricing Report

Hydrobromic Acid Prices December 2023

The price of hydrobromic acid in the China for Q4 2023 reached 2470USD/MT (Hydrobromic Acid 48%) in December. There was a 1.9% drop in pricing for hydrobromic acid overall in the country as compared to the previous quarter. The accumulation of product inventories in the domestic market was a major factor impacting the market, creating an adverse scenario. Furthermore, the pricing pattern in the country showed a relationship between supply and market conditions, with prices falling in tandem with a modest supply and an unfavorable market.

Hydrobromic Acid Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Hydrobromic Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of hydrobromic acid pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of price trends across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing hydrobromic acid price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Hydrobromic Acid Market Analysis

The global hydrobromic acid market size reached 1,365.8 Thousand Tons in 2023. By 2032, IMARC Group expects the market to reach 2,448.2 Thousand Tons, at a projected CAGR of 6.70% during 2023-2032.

• The rising utilization of hydrobromic acid in the synthesis of various pharmaceuticals is impelling the growth of the market. It is added to the numerous bromine compounds used in medicines, including sedatives, antihistamines, and anesthetics. It is also employed in the manufacturing of bulk drugs and active pharmaceutical ingredients (APIs). APIs are crucial for high-quality drug treatments related to the central nervous system (CNS), oncology, cardiology, neurology, orthopedics, pulmonology, gastroenterology, nephrology, ophthalmology, and endocrinology. According to the research published by the Lancet in 2024, the number of individuals living with or dying from nervous system illnesses has increased drastically over the past three decades, with 3.4 billion people, or 43% of the world's population, impacted in 2021.
• The growing geriatric population that is susceptible to several age-related ailments is driving the demand for hydrobromic acid in pharmaceuticals. As per a report presented by World Health Organization (WHO) in 2022, 1 in 6 individuals worldwide will be 60 or older by 2030. The number of individuals in the world who are 60 years of age or older is predicted to double (2.1 billion) by 2050. It is projected that between 2020 and 2050, the number of people 80 years of age or older will triple, reaching 426 million.
• In the chemical industry, hydrobromic acid is widely used as a reagent to produce inorganic bromides, such as zinc, sodium, and calcium bromides. These substances have a wide range of applications, including flame retardants, photographic chemicals, and intermediates in the synthesis of other organic compounds. Additionally, it makes it easier to produce alkyl bromides by radical reactions, which can be employed as anesthetics, intermediates, or solvents. Based on the data provided by the IMARC group, the size of the global market for flame retardants was $9.8 billion in US dollars in 2023. The market will increase at 5.8% CAGR from 2024 to 2032, reaching US$ 16.6 billion.

Hydrobromic Acid News

The report covers the latest developments, updates, and trends impacting the global hydrobromic acid market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in hydrobromic acid production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.

Product Description

Hydrobromic acid is a diatomic molecule made up of hydrogen and bromine that is commonly found in industrial settings as a gas or in aqueous solution, with a strong, characteristic odor. It is mostly generated by reacting hydrogen (H₂) directly with bromine (Br₂) or by dissolving bromide salts in water and adding a strong acid, such as sulfuric acid.

It makes the synthesis of brominated organic molecules simple and effective, which lowers the complexity and expenses associated with producing pharmaceuticals and industrial goods. It is employed to create clear-brine drilling fluids for the purpose of extracting oil and natural gas, which is essential for cooling the drill bit and maintaining pressure stability during drilling operations. It is also used to make fire-retardant compounds and catalyzes the polymerization of certain polymers. Additionally, in metallurgy, hydrobromic acid helps to remove oxides and other impurities from metal surfaces to clean and purify the metals for further processing.

Regional Coverage

The report provides a detailed analysis of the hydrobromic acid market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the price trends.

Global Hydrobromic Acid Price

The report offers a holistic view of the global hydrobromic acid pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.

Europe Hydrobromic Acid Price

In the fourth quarter of 2023, the European hydrobromic acid market experienced price fluctuations due to factors, such as low demand, high inventories, and changing production costs, compounded by unstable support from the upstream bromine market. Economic uncertainty continued to affect the chemical industry despite the low to moderate demand from downstream sectors. Manufacturing companies faced diminishing profit margins and heightened competition from worldwide marketplaces.

This analysis can be extended to include detailed hydrobromic acid price information for a comprehensive list of countries.

North America Hydrobromic Acid Price

In the fourth quarter of 2023, the hydrobromic acid market in the North American region had a bearish pricing trend. There was a decline in the demand from downstream industries like solvents and chemical manufacturing due to excess supply and the destocking of inventories by end-users. Overall, low demand, negative market sentiment, and unclear business environment hampered the hydrobromic acid industry in the region. These circumstances were mirrored in the pricing, which had notably dropped from the prior year.

Specific data on hydrobromic acid prices within the United States and Canada can also be provided.

Middle East and Africa Hydrobromic Acid Price

The report explores the hydrobromic acid pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on hydrobromic acid prices for countries can also be provided.

Asia Pacific Hydrobromic Acid Price

Asia Pacific witnessed several variables impacting hydrobromic acid pricing in the fourth quarter of 2023. Material availability was guaranteed by a modest supply, while domestic production businesses were functioning at maximum efficiency. There was a bearish scenario in the market, which led to price swings over the quarter. Prices dropped dramatically from the same quarter last year but only slightly from the preceding quarter, demonstrating relative stability.

This analysis can be further extended to include detailed hydrobromic acid prices for a comprehensive list of countries within the region.

Latin America Hydrobromic Acid Price

The analysis of hydrobromic acid prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of hydrobromic acid pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting hydrobromic acid price volatility, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the hydrobromic acid industry.