Bromine Derivative Market Surges Towards a Projected Valuation of US$ 6.71 billion by 2033
In 2023, the bromine derivative industry is expected to be valued at US$ 4.57 billion. The market was estimated to be worth US$ 4.40 billion in 2022. From 2023 to 2033, the market is expected to expand at a compound annual growth rate (CAGR) of 3.9%. By 2033, the market for bromine derivatives is projected to be valued at US$ 6.71 billion.
The significance of bromine derivates in the global manufacturing scenario has been experiencing a considerable surge in recent years due to its fire safety properties in factory units. With the rapid rise in the pharmaceutical industry since the pandemic, the market for bromine derivatives, too, is expanding across the globe. Pharmaceutical companies utilize bromine-based catalysts to synthesize antiviral drugs, sedatives, anesthetics, and cardiovascular medications.
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