N-Propyl Bromide Solvent Market: East Asia Region is Poised to Expand at a CAGR Value of 2.5% During Forecast Period 2021-2031
The impact of the COVID-19 outbreak has compelled several manufacturers and industries to rethink their operations to gradually recover from the losses incurred for years to come. The organic chemicals industry suffered a huge setback due to halted production and a limited supply of raw materials.
The report offers actionable and valuable market insights of N-Propyl Bromide Solvent. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of N-Propyl Bromide Solvent Market across various industries and regions.
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The global N-Propyl Bromide Solvent 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 Solvent and also due to its less toxic nature, it has emerged as an ideal replacement for conventional solvent chemicals.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of N-Propyl Bromide Solvent market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of N-Propyl Bromide Solvent
This newly published and insightful report sheds light on Market Insights of N-Propyl Bromide Solvent, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of N-Propyl Bromide Solvent Market.
A detailed assessment of market supply chain analysis, business execution, and value chain analysis across regional markets has been provided in the report. A list of prominent companies operating in the N-Propyl Bromide Solvent market enhances the reliability of this comprehensive research study.
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N-Propyl Bromide Solvent Market: Segmentation
Fact.MR has segmented the N-Propyl Bromide Solvent market on the basis of function, application, and region.
- Metal Cleaning & Degreasing
- North America
- East Asia
- South Asia & Oceania
- Rest of the World
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Key Takeaways from N-Propyl Bromide Solvent Market Study
- For replacing trichloroethylene and perchloroethylene, N-Propyl Bromide Solvent has become an ideal cleaning solvent in metal cleaning and vapor degreasing applications.
- On the basis of function, N-Propyl Bromide Solvent is primarily used as a solvent in metal cleaning and vapor degreasing applications, which currently accounts for near half of global consumption.
- Growing demand for precision cleaning from the semiconductor industry and increasing consumption of N-Propyl Bromide Solvent in the electronics industry are set to result in their market valuation of over US$ 7 Mn by 2030.
- The pharmaceutical and agrochemical industry has become the largest consumer of N-Propyl Bromide Solvent, accounting for near half of global consumption.
- East Asia has driven the demand for N-Propyl Bromide Solvent during the historical period, creating a market value worth over US$ 45 Mn in 2019.
- After identification of the toxic nature of N-Propyl Bromide Solvent by the EPA and European Union, developed regions are poised to reduce its consumption during the forecast period.
- The United Kingdom has banned the usage of n-propyl, and other European countries such as Germany, France, Spain, and others are on the verge of banning this chemical, which will significantly impact its demand over the coming years.
- Manufacturing and trade restrictions due to the COVID-19 outbreak will result in sluggish growth of the global N-Propyl Bromide Solvent market.
“Despite being a hazardous air pollutant, N-Propyl Bromide Solvent is still a cost effective cleaning solvent over its alternatives offered by 3M, Chemours, and Honeywell, which will fuel its demand to some extent during the forecast period,” says a Fact.MR analyst.
N-Propyl Bromide Solvent Market: Manufacturers
The global N-Propyl Bromide Solvent 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 Solvent 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 Solvent 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 Solvent 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 Solvent market space.
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More Valuable Insights on N-Propyl Bromide Solvent Market
Fact.MR, in its new report, offers an unbiased Market Analysis of N-Propyl Bromide Solvent, Sales and Demand of N-Propyl Bromide Solvent, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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