Market Trends of Bromobenzene Industry
This section covers the major market trends shaping the Bromobenzene Market according to our research experts:
Phenylmagnesium bromide to Dominate the Market
- Phenylmagnesium bromide is one of the key product types of bromobenzene, which is a versatile Grignard reagent used to prepare benzoic acid, secondary amines, benzophenones, and other chemicals.
- Phenylmagnesium bromide is also commercially available as diethyl ether or THF.
- It is also used to introduce phenyl groups in coupling reactions, like Suzuki reactions. These reactions are used widely for synthesizing intermediates that are used in pharmaceuticals or fine chemicals.
- Additionally, itis also used as a precursor in the maufacturing of phencyclidine, a dissociative drug.
- Hence, phenylmagnesium bromide is likely to dominate the market during the forecast period.
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Asia-Pacific to Witness the Highest Growth Rate
- The Asia-Pacific bromobenzene market is likely to witness a strong growth rate during the forecast period owing to the increasing investment in the pharmaceutical industry of the region.
- Apart from that, co-polymer and plastic industry havealso been witnessing strong growth in the regionwhich is also likely to have a positive impact on the growth of bromobenzene market in the region.
- Some of the key factors that are driving the plastic industry in this region arethe emerging e-retail & e-commerce and increasing demand from automotive and rapidly growing construction industry.
- Hence, due to the aforementioned factors, the market for bromobenzene in Asia-Pacific is likely to witness the highest growth rate during the forecast period.
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