Research Nester’s recent market research analysis on “Calcium Bromide Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview of the global calcium bromide market in terms of market segmentation by product type, application, end-user industry, and by region.

Growing Coal Mining Activities to Drive Growth of Global Calcium Bromide Market

The global calcium bromide market is estimated to grow majorly on account of the increasing utilization of calcium bromide in the production of all types of gases such as natural, shale, and others. It is mainly used to maintain the mixing of mercury in the environment which can be escalated by the production of gas. The statistics to represent the production of gas can vary from country to country. For instance, 6 quadrillion cubic feet of natural gas reserves were noticed to be located across the globe in 2020. The production of natural gas in the United States was anticipated to be approximately 900 billion cubic tons and in China, the production of natural was evaluated to be around 200 billion cubic tons in a similar year.

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Furthermore, escalation in the production and consumption of oil in various industries is also estimated to spur the demand for calcium bromide which in turn boosts the market growth. The consumption of oil is comparatively higher estimated to be around 3,00,000 million barrels a year and approximately 970 million barrels a day worldwide. Additionally, oil production has also escalated along with consumption which is anticipated to be around 500 million metric tons of crude oil in Russia and 700 million metric tons of crude oil in the United States in 2020. Furthermore, the constant increase in the demand for calcium bromide in energy production and coal mining to control mercury emission is further projected to expand the market size over the forecast period. For instance, in 2021, nearly 26 terawatts per hour of electricity were generated across the globe.

Some of the major growth factors and challenges that are associated with the growth of the global calcium bromide market are:

Growth Drivers:

Surge in Production of Shale Gas and Crude Oil
Escalating Demand in a Wide Number of Industry
Challenges:

The availability of the alternative product in the market and the presence of strict government regulation that is associated with the utilization of calcium bromide are some of the major factors anticipated to hamper the growth of the global calcium bromide market. Furthermore, calcium bromide is also observed to leave a negative impact on the which can mainly affect eyes and skin. People working with calcium bromide are suggested to wear safety glasses and gloves and boots to prevent direct contact with the calcium bromide. Hence, all the factors are anticipated to limit the growth of the market over the forecast period.

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By end-user industry, the global calcium bromide market is segmented into automotive, oil & gas, energy production, and others. The oil & gas segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. This growth of the segment can be ascribed to the surge in mining activities to produce oil and gas and the growing need to spray calcium bromide in mines to limit the emission of mercury. Mercury can be mixed in the air and water and if it is consumed by living organisms, it can harm their health. Additionally, the demand for oil and gas is set to rise exponentially in automotive engines, household facilities, and others. For instance, it was noticed that an engine in a typical automobile needs around 8 quarts of oil. Therefore, all these significant factors are estimated to escalate the segment growth over the forecast period.

By region, the North American calcium bromide market is to generate the highest revenue by the end of 2035. This growth is anticipated by increasing production of shale gas owing to its higher demand where calcium bromide is used as a fluid completion. As of 2021, the production of shale gas along with tight gas was estimated to reach approximately 24 trillion cubic feet in the United States. On the other hand, the surge in the deep-sea exploration in the region is also projected to hike the demand for calcium bromide over the forecast period. Furthermore, the market in Asia Pacific region is also anticipated to hold the second largest share over the forecast period on the back of increasing investment and government funding to accelerate sea exploration activities in the region. For instance, in 2019, around 150,000 kilometers of sea area was allotted to the China for deep-sea mining activities.

This report also provides the existing competitive scenario of some of the key players of the global calcium bromide market which includes company profiling of

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