BROMOBENZENE MARKET ANALYSIS

Bromobenzene MarketSize and Trends

Market Trends

Diethyl ether or THF (Tetrahydrofuran) is another commercially available form of phenylmagnesium bromide. It is also used in coupling reactions such as Suzuki reactions to introduce phenyl groups. These reactions are widely used in the pharmaceutical and fine chemical industries to synthesize intermediates. As a result, phenylmagnesium bromide is expected to be the leading product type segment during the forecast period.

Among product type, the Phenylmagnesium bromide sub-segment held a dominant position and generated a revenue of US$ 27.6 Mn in 2020. It is expected to generate a revenue of US$ 39.4 Mn by 2028 and exhibit a CAGR of 5.2% over the forecast period. Phenyl magnesium mostly used for alkylation of aldehydes and ketones. It is also used in the industrial production of tamoxifen (used as a selective estrogen receptor modulator to prevent breast cancer). The growth of the chemical industry is expected to drive the demand for phenyl magnesium bromide during the forecast period. For instance, according to CEFIC (European Chemical Industry Council), the global chemical industry was valued at US$ 2,899.8 billion in 2010, which increased to US$ 4,263.2 billion in 2020.

The Global Bromobenzene Market was valued at US$ 57.6 Mn in 2020. It is expected to reach US$ 96.2 Mn by 2028 and exhibit a CAGR of 5.4% during the forecast period (2021-2028).

Market Trends

Diethyl ether or THF (Tetrahydrofuran) is another commercially available form of phenylmagnesium bromide. It is also used in coupling reactions such as Suzuki reactions to introduce phenyl groups. These reactions are widely used in the pharmaceutical and fine chemical industries to synthesize intermediates. As a result, phenylmagnesium bromide is expected to be the leading product type segment during the forecast period.

Among product type, the Phenylmagnesium bromide sub-segment held a dominant position and generated a revenue of US$ 27.6 Mn in 2020. It is expected to generate a revenue of US$ 39.4 Mn by 2028 and exhibit a CAGR of 5.2% over the forecast period. Phenyl magnesium mostly used for alkylation of aldehydes and ketones. It is also used in the industrial production of tamoxifen (used as a selective estrogen receptor modulator to prevent breast cancer). The growth of the chemical industry is expected to drive the demand for phenyl magnesium bromide during the forecast period. For instance, according to CEFIC (European Chemical Industry Council), the global chemical industry was valued at US$ 2,899.8 billion in 2010, which increased to US$ 4,263.2 billion in 2020.