N-bromosuccinimide Market Forecast 2023 - 2030
Report ID : CBI_1030 |
| Published Date:
| Format :
| Base Year: | 2022 |
|---|---|
| CAGR: | 1.1% |
| Forecast Year: | 2023 - 2030 |
| Revenue 2022: | $19.53 Mn |
| Revenue 2030: | $21.11 Mn |
N-bromosuccinimide Market Forecast 2023 - 2030
Market Overview :
Consegic Business Intelligence analyzes that the N-bromosuccinimide market is growing with a healthy CAGR of 1.1% during the forecast period (2023-2030), and the market is projected to be valued at USD 21.11 Million by 2030 from USD 19.53 Million in 2022.
Market Definition :
N-Bromosuccinimide (NBS) is a chemical reagent commonly used in organic chemistry for various bromination reactions including electrophilic addition, radical substitution, and electrophilic substitution. It is generally used as a combination with radical initiator, such as peroxide or azo compound. The crucial properties of N-Bromosuccinimide include density at 2.098 g/cm3 (solid), melting point in the range of 175 to 178 °C, boiling point at 339 °C, solubility in water at 14.7 g/L (25 °C), and others. These properties ensure a low-level concentration of bromine. Furthermore, N-Bromosuccinimide is an ideal solution for organic synthesis, and pharmaceutical intermediates, among others.
Market Dynamics :
Drivers :
-
Growth of the pharmaceutical industry is driving the market growth
N-Bromosuccinimide is often utilized as a brominating agent in the pharmaceutical industry for applications involving the determination of sumatriptan succinate during the delivery of bulk drugs and tablets. N-Bromosuccinimide ensures efficient production of the pharmaceutical industry. It is used as a brominating agent in the synthesis of some active pharmaceutical ingredients. For illustration, according to the European Federation of Pharmaceutical Industries and Associations, the overall production of the Europe pharmaceutical sector was valued at USD 339.7 billion in 2021, depicting an increase of 4.6% in comparison to USD 324.7 billion in 2020. The growth of the pharmaceutical industry is accelerating the adoption of N-Bromosuccinimide to ensure efficient pharmaceutical production. Thus, the growth of the pharmaceutical industry is boosting the revenue growth of the market.
-
Rising adoption of N-Bromosuccinimide in chemicals industry
N-Bromosuccinimide is mainly utilized in the chemical industry for applications including bromination reactions during the process of chemical synthesis. N-Bromosuccinimide can be used for allylic or benzyl compounds, alkenes, carbonyl-containing compounds along with aromatic chemical compounds. For instance, according to the 2022 Outlook for Industrial Chemicals published by the Chemistry Industry Association of Canada (CICA), the chemical industry in Canada is expected to grow by 31% in 2022 as compared to 2020. Therefore, the favorable outlook of the chemicals industry is increasing the adoption N-Bromosuccinimide to ensure the organic synthesis of chemicals, which, in turn, is driving the market growth.
Restraint :
-
Health hazards associated with N-Bromosuccinimide
N-Bromosuccinimide is considered hazardous under OSHA regulation (Occupational Safety and Health Administration). For instance, according to OSHA regulations, N-Bromosuccinimide can be harmful if inhaled. Furthermore, the N-Bromosuccinimide is highly destructive to the tissue of the upper respiratory tract and mucous membranes. In addition, N-Bromosuccinimide can be harmful if absorbed through the skin, thereby causing skin burns. Thus, the above-mentioned health hazards associated with the use of N-Bromosuccinimide is hampering the demand of the market.
Opportunities :
-
Increasing crop production within the same arable land
N-Bromosuccinimide is an organo-bromide compound used in a variety of bromination reactions for agrochemical synthesis. N-Bromosuccinimide increases crop protection efficiency. The majority of agriculture growth has been accelerated by a higher yield per unit area rather than a larger cultivated area. Furthermore, looking ahead to 2030, it is projected that annual crop production and yield will increase within the same amount of arable land is expected to go up.
For illustration, according to Food and Agriculture Organization (FAO) and Organisation for Economic Co-operation and Development (OECD), wheat and coarse grains production at the global level is projected to enhance by approximately 9% by 2030. This agriculture outlook growth will be on the same area of arable land. Therefore, the demand for N-Bromosuccinimide will increase to ensure an efficient synthesis of agrochemicals. This factor will spur the global N-Bromosuccinimide market growth in the forecast year.
N-bromosuccinimide Market Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 | USD 21.11 Million |
| CAGR (2023-2030) | 1.1% |
| By Purity | Above 99%, 99%, and Less than 99% |
| By Application | Organic Synthesis, Pharmaceutical Intermediates, Insecticidal Agent, and Others |
| By End-User | Chemical Industry, Pharmaceutical Industry, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
| Key Players | Merck KGaA, Harikrishna Enterprise, Halides Chemicals Pvt. Ltd., Hairui Chemical, Haihang Industry Co Ltd, Purecha Group, Mody Chemi-Pharma Ltd, PACIFIC ORGANICS PVT. LTD., Hangzhou Longshine Bio-Tech CO., Ltd, and Spectrum Chemical |
Get More Information
Download Sample ReportMarket Segmentation :
By Purity :
The purity segment is categorized into above 99%, 99%, and less than 99%. In 2022, the pharmaceutical intermediate 99% segment accounted for the highest market share of 45.05% in the overall N-bromosuccinimide market. The 99% purity of N-Bromosuccinimide is majorly utilized in the production of pharmaceuticals, chemicals, and other products. Furthermore, 99% ensures superior properties such as neutral and organic which are beneficial for the production of pharmaceutical drugs. For instance, according to the 14th Five Year Plan in China (2021-2025), emphasis is given to the pharmaceutical industry supply security, encouraging the international organization to set up their pharmaceutical manufacturing facilities in China, and others. Hence, the pharmaceutical production growth in China is accelerating the adoption of 99% N-Bromosuccinimide to ensure effective organic synthetics. This factor is leading to market growth.
Furthermore, above 99% is expected to be the fastest-growing segment in the market over the forecast period. This is due to the increasing demand for superior purity materials for the production of chemical products.
Get More Information
Download Sample ReportBy Application :
The application segment is categorized into organic synthesis, pharmaceutical intermediates, insecticidal agent, and others. In 2022, the pharmaceutical intermediates segment accounted for the highest market share in the N-Bromosuccinimide market. N-Bromosuccinimide is equipped with various beneficial characteristics, including superior purity, and higher melting point. These vital characteristics ensure superior synthesis in pharmaceutical intermediates. For instance, according to India Brand Equity Foundation (IBEF), in the year 2020, the pharmaceuticals market in India was valued at USD 42.0 billion, and by the year 2024, it is projected at USD 65.0 billion, an increase of 54.8%. Hence, the increasing deployment of N-Bromosuccinimide in pharmaceutical intermediates is augmenting market growth.
However, organic synthesis is expected to be the fastest-growing segment during the forecast period because the development of new chemicals is increasing. This, in turn, is fostering organic synthesis, and as a result, the demand for N-Bromosuccinimide is increasing.
By End-use Industry :
The end-use industry segment is categorized into chemical industry, pharmaceutical industry, and others. In 2022, the pharmaceutical industry segment accounted for the highest market share in the N-Bromosuccinimide market. N-Bromosuccinimide is an easier-to-handle and safer brominating agent as compared with bromine. As a result, N-Bromosuccinimide is primarily deployed in the manufacturing of tablets and other forms of pharmaceutical drugs. The rising pharmaceutical production activities are due to increasing government initiatives, and new facility developments, among others. For instance, according to IQVIA, a leading pharmaceutical manufacturer in the U.S., the pharmaceutical industry in the U.S. registered a growth of 5.6% from 2016 to 2021. Thus, the surge in production activities associated with pharmaceuticals is expected to drive market growth
However, the chemical segment is expected to be the fastest-growing segment in the N-Bromosuccinimide market during the forecast period. This is due to the increasing focus on the development of new advanced chemical manufacturing plants, and government initiatives, among others.
By Region :
The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
Regional Growth Insights
Download Sample ReportIn 2022, Asia Pacific accounted for the highest market share at 39.05% and was valued at USD 7.63 million, and is expected to reach USD 8.31 million in 2030. In Asia Pacific, China accounted for the highest market share of 40.75% during the base year of 2022. The booming pharmaceutical production in the Asia Pacific region is expected to foster the adoption of N-Bromosuccinimide, which will accelerate the market growth in the region. For instance, according to the General Statistics Office of Vietnam, the total medicines output in Vietnam in 2019 was USD 3255.6 million, and in 2020 it was USD 3484.5 million, a rise of 7.03%. Henceforth, the rising pharmaceutical production in the Asia Pacific region is anticipated to accelerate the N-Bromosuccinimide market growth.
Furthermore, North America is expected to witness significant growth over the forecast period. This is attributed to the growing demand for superior synthesis chemicals. Therefore, the adoption of N-Bromosuccinimide is increasing in North American industries such as pharmaceuticals, and fine chemicals, among others. This factor is proliferating the N-Bromosuccinimide market growth in North America.
Details Countries Growth Insights
Download Sample ReportN-bromosuccinimide Market Competitive Landscape:
The N-bromosuccinimide market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include-
- Merck KGaA
- Harikrishna Enterprise
- Halides Chemicals Pvt. Ltd.
- Hairui Chemical
- Haihang Industry Co Ltd
- Purecha Group
- Mody Chemi-Pharma Ltd
- PACIFIC ORGANICS PVT. LTD.
- Hangzhou Longshine Bio-Tech CO., Ltd
- Spectrum Chemical
Frequently Asked Question
What was the market size of the N-bromosuccinimide industry in 2022?+
In 2022, the market size of N-bromosuccinimide was USD 19.53 million.
What will be the potential market valuation for the N-bromosuccinimide industry by 2030?+
In 2030, the market size of N-bromosuccinimide will be expected to reach USD 21.11 million.
What are the key factors driving the growth of the N-bromosuccinimide market?+
The growth of the pharmaceutical industry is driving the market growth.
What is the dominating segment in the N-bromosuccinimide market by purity?+
In 2022, the drug discovery segment accounted for the highest market share of 45.05% in the overall N-bromosuccinimide market.
Based on current market trends and future predictions, which geographical region will have the fastest impact on the N-bromosuccinimide market's growth in the coming years?+
North America is expected to be the fastest-growing region in the market during the forecast period.
Select Licence :
| Single User | : $4200 |
|---|---|
| Multi User | : $6200 |
| Corporate User | : $7400 |
- Online PDF access to 1 user
- Unlimited analyst support
- 20% or 48 hours of free customization
- No expiry to the report
- Online PDF access upto 10 Users
- Unlimited lead analyst support
- 35% or 72 hours of free customization
- No expiry to the report
- Access to downloadable excel data sheet
- All multi user license features plus
- Unlimited user access(within the organization)
- 40% or 96 hours of free customization
- Unlimited download, print & forwards allowed
- 25% discount on your next purchase
