Market Challenges And Opportunities

Drivers:

Bromobenzene is widely used in the manufacturing of phenylmagnesium bromide, which is used as a Grignard reagent. The reagent is used as an intermediate in the manufacturing of various organic chemicals such as benzoic acid, triphenylmethanol, and others. Bromobenzene is also used in the synthesis of other organic chemicals such as para-bromo nitrobenzene and bifenthrin alcohol. Increasing demand for organic chemicals is expected to drive the demand for bromobenzene over the forecast period.

Increasing global population and surging urbanization are expected to fuel the growth of end-use industries such as agrochemicals, pharmaceuticals, food & beverages, and cosmetics. This, in turn, is fueling the bromobenzene market growth. For instance, according to the United Nations’ World Urbanization Prospects 2018, the growth of the world’s population could add another 2.5 billion people to urban areas by 2050, with close to 70% of this increase taking place in Asia.

Market Restraints

Overexposure to bromobenzene may cause eye and skin irritation, nose and throat irritation, headache, dizziness, light-headedness, and passing out. Bromobenzene may also damage the human liver and the kidneys. These drawbacks associated with the usage of bromobenzene are expected to hamper its demand to some extent. According to harmonized classification and labelling approved by the European Union, bromobenzene is toxic to aquatic life with long-lasting effects. It is a flammable liquid and vapour and causes skin irritation.

Bromobenzene Market Report Snapshots