Global N-Propyl Bromide Market Is Poised To Embark On A Positive Growth Trajectory, Registering A CAGR Of 2% By 2030
The global n-propyl bromide market is poised to embark on a positive growth trajectory, registering a CAGR of 2% across the forecast period (2020-2030). Growth is attributed to its increased demand as a replacement for trichloroethylene and perchloroethylene. Stringent regulations levied on trichloroethylene and perchloroethylene have forced consumers to move towards more sustainable alternatives. Exceptional cleaning offered by n-propyl bromide and also due to its less toxic nature, it has emerged as an ideal replacement for conventional solvent chemicals.
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N-Propyl Bromide Market: Segmentation
Fact.MR has segmented the n-propyl bromide market on the basis of function, application, and region.
- By Function :
- By Application :
- Metal Cleaning & Degreasing
- By Region :
- North America
- East Asia
- South Asia & Oceania
- Rest of the World
N-Propyl Bromide Market: Manufacturers
The global n-propyl bromide market is highly consolidated in nature, where the top three players currently account for near half of global production. Albemarle, Shouguang fukang pharmaceutical co. Ltd., and Solaris Chemtech are key stakeholders in the n-propyl bromide market. Players have remained conservative in the market owing to numerous legalizations implemented by various regulatory bodies, such as EPA and ECHA.
In order to leverage the increasing demand from a plethora of applications, n-propyl bromide manufacturers have been offering a range of products. For instance, Albemarle offers ABZOL EG, ABZOL JEG, ABZOL JG, and ABZOL VG for applications such as metal cleaning, vapor degreasing, electronics, and others. Lanxess offers n-propyl bromide for agrochemical, pharmaceutical, metal cleaning, and vapor degreasing applications. Diversified product offerings across a range of applications are set to create lucrative opportunities for suppliers in the n-propyl bromide market space.