Bromine Market report is a comprehensive overview of the market’s situation thoroughly examined and compiled by Stratview Research. This new report provides past progress, current market conditions, and a future prospect from the year 2022 to 2028. It also offers accurate overview of the growth strategies, market size, mergers acquisitions, and upcoming products/services of leading key players in this market.
Market Insights
The report analyses the market thoroughly and collects data in order to offer reliable data to the users. Bromine market is expected to grow from USD 3.46 billion in 2021 to USD 4.71 billion by 2028 at a CAGR of 4.4% during the forecast period of 2022-2028. The major factor driving the market is the growing demand for bromine in flame retardants, mercury emission control, water treatment, and oil gas drilling applications.
Market Segments' Analysis
According to Stratview Research, the Bromine Market is segmented by Derivative Type (Organobromine, Clear Brine Fluids, and Hydrogen Bromide), by Application Type (Flame Retardants, Water Treatment, Mercury Emission Control, Oil Gas Drilling, HBR Flow Batteries, Pta Synthesis, Pesticides, Plasma Etching, Pharmaceuticals, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Based on the derivative type, the market is segmented as organobromine, clear brine fluids, and hydrogen bromide. Organobromine is widely used in the manufacturing of brominated flame retardants, pesticides, fumigants, and biocides for water treatment, making it the largest segment of the market in 2019, and it is expected to remain dominant during the forecast period. Recent initiatives are being taken by major players such as Albemarle and Israel Chemicals Ltd. to develop and market polymeric substitutes to hexabromocyclododecane (HBCD) flame retardants, due to toxicity concerns in the later.
Based on the application type, the market is segmented as flame retardants, water treatment, mercury emission control, oil gas drilling, HBR flow batteries, Pta synthesis, pesticides, plasma etching, pharmaceuticals, and others. The flame retardants segment dominates the market, as the demand for bromine compounds as flame retardants has significantly increased due to their extensive use in domestic and industrial applications. Despite increasing regulations on some of the bromine-based flame retardants, the segment still dominates the market, due to its effective fire controlling properties. Few examples of flame-retardant chemicals that are made using bromine are polybrominated diphenyl ether, polybrominated biphenyl, decabromodiphenyl ether, hexabromocyclododecane, and tetrabromobisphenol.
Top key vendors in the market:
The report mentions a list of key players in the Bromine Market. Some of them are mentioned below –
- Israel Chemicals Limited
- Albemarle Corporation
- LANXESS Corporation
- Tosoh Corporation
- Tata Chemicals Limited
- Gulf Resources Inc.
- TETRA Technologies, Inc.
- Hindustan Salts Limited
- Honeywell International
- Perekop Bromine
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