Bromobenzene Market
Bromobenzene, also known as monobromobenzene and phenyl bromide, is a colorless, heavy liquid with a pungent odor. It is used to make synthetic intermediate phenylmagnesium bromide, as well as motor oil additive and crystallizing solvent. Unreacted bromobenzene, biphenyl, and the majority of other non-acidic organic compounds make up the organic layer. Bromobenzene can harm the liver and the kidneys. Occupational bromobenzene exposure limits have yet to be established.
Market Dynamics
The growth of the pharmaceutical sector is expected to drive demand for organic chemicals such as bromobenzene during the forecast period. For instance, according to the International Trade Administration, in Russia, in 2019, per capita spending on medicine was US$ 160 per person. According to same source, the pharmaceutical sales in Russia was valued at US$ 19.3 billion in 2018, which increased to US$ 19.9 billion in 2019.
The increase in transportation and transit of consumer goods, people, and raw materials have boosted the growth of the automobile industry. For instance, according to the China Association of Automobile Manufacturers (CAAM), in September 2019, the production and sales of commercial vehicles in China reached 345,000 and 340,000 units, respectively, which showed an increase of 15.8% and 11.6% from that of August 2019, and up by 4% and 1.9% year on year. Furthermore, according to the European Automobile Manufacturers Association (ACEA), in December 2019, commercial vehicle registrations increased by 5.7% from November 2019 across the European Union (EU).
Exposure of bromobenzene creates hazard to aquatic life such as amphibians and fish. This factor is expected to hamper the bromobenzene market growth. According to U.S. Code of Federal Regulations and the Hazardous Materials Regulations, bromobenzene is categorized as a marine pollutant. Bromobenzene is listed under TSCA (The Toxic Substances Control Act of 1976), a federal regulation that allows the U.S. Environmental Protection Agency (EPA) to comprehensively manage chemicals in U.S. commerce. Compliance with TSCA can require companies to restrict and remove substances from products to maintain U.S. market access.
Key features of the study
Market Segmentation
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