Zinc Bromide Market Size will reach to 16,500 mt in 2024
Zinc Bromide is one of bromine derivatives. It is inorganic zinc salt of hydrobromic acid. It is white powders and can dissolve in water at room temperature. It is widely used in oil field and battery electrolyte. The most important application of zinc bromide is oil well completion, but the consumption volume of zinc bromide is less than calcium bromide and sodium bromide. Zinc bromide can be used as battery electrolyte of flow battery which is widely used in energy storage.
Hydrobromic acid route is the only industrial production process of zinc bromide. The starting raw materials is hydrobromic acid and zinc oxide. The reaction equation is:
2HBr + ZnO→ZnBr2 + H2O
Following are the manufacturing process and mass balance of zinc bromide:
As a bromine derivatives, the price of zinc bromide also highly depend on bromine. Below are the bromine price figure from 2012 to Q3 2019. Due to bromide price rising, the price of zinc bromide also increase sharply from the end of 2017.
There are 8 Zinc Bromide producers covered in the report. Israel Chemical Ltd. (ICL), Albemarle Corporation, Chemtura/LANXESS and TETRA Chemicals are the global leading producers. US, Israel, China and Germany are the major producing countries of zinc bromide. US and Israel is the top 2 exporting country of zinc bromide and account for more than 70% export market share in 2018.
Global Zinc Bromide market size was estimated at 12,000 m (solid) in 2018 and the market size will reach 16,500 mt in 2024, with a CAGR of 5.5%.
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