New York, May 22, 2023 (GLOBE NEWSWIRE) -- The global N-Bromosuccinimide Market is expected to witness significant growth at a CAGR of 1.1% during the forecast period of 2023-2030. This growth is attributed to the increasing demand for N-Bromosuccinimide in pharmaceutical and chemical manufacturing. In addition, the increasing investment activities for high-purity N-Bromosuccinimide research will further accelerate the demand for N-Bromosuccinimide during the forecast period.
According to a recent report by Consegic Business Intelligence, the N-Bromosuccinimide market is poised for strong expansion and is expected to reach USD 21.11 Million by 2030. The market, which was valued at USD 19.53 Million in 2022, is predicted to grow at a compound annual growth rate of 1.1% during the period 2023-2030. The report highlights the increasing adoption of N-Bromosuccinimide for pharmaceutical intermediates is proliferating the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the N-Bromosuccinimide market.
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Consegic Business Intelligence Pvt. Ltd. provided an inclusive research report on the N-Bromosuccinimide market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends. The report analyzes significant segments such as purity, application, end-use industry, and region, to identify emerging trends and potential opportunities. By leveraging this information, market players have the opportunity to improve their competitive edge against other manufacturers by engaging in strategic collaborations, mergers, and acquisitions, and introducing innovative products to strengthen their market position.
The adoption of N-Bromosuccinimide is growing in the pharmaceutical industry as a pharmaceutical intermediate to ensure efficient bulking. Additionally, there is a growing demand for N-Bromosuccinimide material in pharmaceutical research and development. Hence, it is evident from the above factors that the demand for N-Bromosuccinimide is increasing in the pharmaceutical industry, which, in turn, is accelerating market growth.
For instance, according to the statistics published by the European Federation of Pharmaceutical Industries and Associations (EFPIA), the production of pharmaceuticals in all of Europe reached USD 354,080.76 million in 2020, an increase of 5.7% from the year before. Thus, the surge in production activities associated with pharmaceuticals is expected to drive market growth.
N-Bromosuccinimide is an efficient chemical reagent employed in the chemical industry for radical substitution reactions in synthetic organic chemistry and electrophilic additions. Thus, the growth of the chemicals industry at the global level is accelerating the market growth.
For illustration, the recent insights from the American Chemistry Council state that the overall production of industrial chemicals increased by 5.9% in 2021 in comparison to 2020. Additionally, the production from the chemical industry in the U.S. is expected to increase up to 4.3% in 2022. The growth of the chemicals industry is creating a lucrative growth opportunity for the N-Bromosuccinimide market in the upcoming year.
Global N-Bromosuccinimide Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | 21.11 Million |
| CAGR (2023-2030) | 1.1% |
| By Purity |
|
| By Application |
|
| By End-use Industry |
|
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Geography | North America, Asia-Pacific, Latin America, Europe, 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 |
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Global N-Bromosuccinimide Market Segmentation Details:
Based on Purity, the 99% segment contributed the largest shares to the market growth in 2022. The various beneficial characteristics associated with 99% of the N-Bromosuccinimide include a melting point in the range of 175-180° C, density at 2.098, soluble in acetone, tetrahydrofuran, dimethyl formamide & other chemicals, among others. Thus, due to the above characteristics, 99% of the N-Bromosuccinimide ensures superior purity, durability, and various other performance attributes. Henceforth, the above benefits associated with 99% of the N-Bromosuccinimide are boosting the employment of 99% of the N-Bromosuccinimide in pharmaceuticals, chemicals, and other applications. This, in turn, is driving the market growth.
Based on Application, the pharmaceutical intermediates accounted for the largest market share in the year 2022. N-Bromosuccinimide has various beneficial properties such as superior purity, higher melting point, and others. These properties of N-Bromosuccinimide ensure efficient synthesis of the pharmaceutical intermediates. Moreover, key trends such as increasing research & development activities in the pharmaceuticals, growth of pharmaceutical production, and others are augmenting the demand for N-Bromosuccinimide, which, in turn, is spurring the market growth.
Based on End-use Industry, the pharmaceutical segment is anticipated to offer substantial shares in the global N-Bromosuccinimide market growth during the forecast period. Global pharmaceutical production growth can be ascribed to a variety of factors, including increased output, new facility developments, and government pharmaceutical industry activities. As a result, the demand for N-Bromosuccinimide. This, in turn, is fostering market growth.
Based on region, in the year 2022, Asia Pacific accounted for the largest share contribution to the market growth due to the presence of significant pharmaceutical providers and the well-established healthcare industry. For illustration, according to the recent data published by the Government of Japan Ministry of Health, Labor and Welfare (MHLW), in 2019, the pharmaceuticals market in Japan was valued at USD 108,260 million, an increase of 0.7% in comparison with the year 2019. Hence, the increase in the pharmacetical industry is boosting the N-bromosuccinimide market growth.
Key Market Takeaways
- The global N-Bromosuccinimide market size is estimated to exceed USD 21.11 million by 2030 with an astonishing CAGR of 1.1% during the forecast period (2023-2030).
- Asia Pacific accounted for the highest market share at 39.05% and was valued at USD 7.63 million in 2022, and is expected to reach USD 8.31 million in 2030. Moreover, in Asia Pacific, China accounted for the highest market share of 40.75% during the base year of 2022.
- Based on purity, the 99% segment accounted for the highest share contribution to the N-Bromosuccinimide market statistics in 2022.
- In the context of applications, the pharmaceutical intermediate segment is expected to contribute significant shares to the growth of N-Bromosuccinimide market statistics during the forecast period.
- By end-use industry, the pharmaceutical segment is anticipated to contribute the largest shares to the market growth in 2022.
- North America is expected to boost the market demand for N-Bromosuccinimide due to the increasing investments in the development of new pharmaceutical manufacturing facilities in countries such as the U.S. and Canada.
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Competitive Landscape
Merck KGaA, Harikrishna Enterprise, Halides Chemicals Pvt. Ltd., and Hairui Chemical are major market players that comprise the latest market circumstances. These companies are substantially leveraging new technologies to boost the production activities associated with N-Bromosuccinimide. Further, the N-Bromosuccinimide market is expected to grow steadily due to rising demand from pharmaceutical intermediate, especially in the Asia Pacific, North America, and Europe regions are estimated to boost the market statistics in the coming years. Additionally, the trend toward increasing strategic collaborations for N-Bromosuccinimide is anticipated to increase the competition in the market.
List of Major Global N-Bromosuccinimide Market:
- 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
Global N-Bromosuccinimide Market Segmentation:
- By Purity
- Above 99%
- 99%
- Less than 99%
- By Application
- Organic Synthesis
- Pharmaceutical Intermediates
- Insecticidal Agent
- Others
- By End-use Industry
- Chemical Industry
- Pharmaceutical Industry
- Others
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Frequently Asked Questions in the N-Bromosuccinimide Market Report
- 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.
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