The Bromine Market is expected to promise high growth owing to the increasing demand for personal and home care products in recent years. Increasing demand from End-Use Industries including flame retardants, biocides, drilling fluids, water treatment, catalysts, and others is expected to drive the growth of the market.
Bromine is a dense (heavier than air) reddish-brown colored fluid that dissipates effectively at standard temperature and pressure. It is corrosive, harmful, and has orange-hued vapors that have a strong odor like chlorine.
A solution of bromine in water is classified as “bromine water”, which is utilized as a test reagent in organic chemistry to recognize unsaturated mixes. Bromine and its compounds are utilized as catalysts in numerous chemical processes, including drug formulations.
Bromine has a fire-safe property and is widely used in household and mechanical machines. Bromine as a water disinfectant is gaining popularity and its market is expected to witness growth during the forecast period.
Global Bromine Market is segmented by derivative type, by application, and by region. On the basis of the derivative type market, it is classified into Hydrogen Bromide, Bromide fluids, Organobromine compounds, and others. Similarly, on the application basis market is classified into flame retardants, Biocides, drilling fluids, water treatment catalysts, and others. Stringent fire safety regulations, of the end-user industry, are stimulating the bromine market. However, the Organobromine segment has a significant share, as it is widely used in the manufacturing of brominated flame retardants, pesticides, fumigants, and biocides for water treatment.
Key Factors Impacting Market Growth:
- Growing use in mercury emission mitigation
- Increasing utilization of hydrogen bromide in flow batteries
- Significant fluctuations in oil & gas prices
Based on the region, the bromine market has been segmented into North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. North America is the leading market for flame retardants followed by Europe. North America and Western Europe are some of the major markets which are traditional suppliers of chemicals such as specialty chemicals, bulk chemicals, etc. Major companies in this market are headquartered in North America and Western Europe. This region has been witnessing several transitions in terms of productions of chemicals and respective applications by end-use industries. Moreover, regulatory authorities have imposed strict guidelines regarding environmental concerns and potential health hazards due to exposures. This has been more instrumental in the Western Europe region competitively. Some of the major economies in these regions include the US, Germany, UK, France, Canada, Italy, Spain, and so on.
The Asia Pacific and the Middle East are expected to register substantial growth in the bromine market during the forecast period. This demand is regarding the growth of major end-use industries such as flame retardants, biocides, drilling fluids, water treatment, and catalysts. Liberal availability of labor and consumers is also attracting market players to establish their production facilities in the region. Major countries in the Asia Pacific region include China, South Korea, Japan, India, Australia, and so on. Middle East includes the UAE, Saudi Arabia, Iran, Israel, Egypt, and so on. Eastern Europe has been largely dominated by Russia and Turkey with operations of major chemical giants in the region. Rest the World that includes South America and Africa has a strong potential for the bromine market. There has been an increase in the number of investments by global companies in these regions to strengthen their presence and tap the potential market. Major economies in these regions for the Bromine market include Brazil, South Africa, Nigeria, Argentina, Colombia, and others.
Companies Covered: Major Companies profiled in the report include Israel Chemicals Limited, Albemarle Corporation, Chemtura Corporation, Tosoh Corporation, Tata Chemicals Ltd, Gulf Resources Inc., TETRA Technologies, Inc., Hindustan Salts Limited, Honeywell International Inc., Lanxess Corporation, Perekop Bromine and so on. A study on these companies will be useful to analyze current as well as future scenarios related to Global bromine market.
- In September 2019, Israel Chemicals Ltd. Introduced its plan to increase its bromine compounds capability to about 25,000 metric tons annually. The company is projected to invest approximately USD 50 million for this expansion and expects a return of USD 110 million. This expansion comes amidst the company’s strategic agreements signed with many customers from Asia.
- In July 2019, Lanxess Corporation started using Emerald Innovation 3000 as a flame retardant for expanded (EPS) and extruded (XPS) polystyrene instead of hexabromocyclododecane (HBCD), which has now been banned. Emerald Innovation 3000 was earlier majorly used as a flame retardant in electronics and electrical applications. This product, manufactured via the bromination of an alternating polystyrene butadiene copolymer, helped decrease the use of hexabromocyclododecane (HBCD), which is hazardous for health.
By Derivative Type:
- By Country (US, Canada, Mexico)
- By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
- By Country (Russia, Turkey, Rest of Eastern Europe)
- By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
- By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
- By Region (South America, Africa)
Reasons to Buy This Report:
- Market size estimation of the bromine market on a regional and global basis
- The unique research design for market size estimation and forecast
- Profiling of major companies operating in the market with key developments
- Broad scope to cover all the possible segments helping every stakeholder in the market
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