Global Bromine Market Size, by Type (Hydrogen Bromide, Organobromine compounds, Bromine Fluids, and Others), Application(Flame Retardant, Biocides, Oil and Gas, Water Treatment, Medical, Plasma Etching, PTA synthesis, Fumigant Synthesis, and Others); By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa) Trend Analysis, Competitive Market Share & Forecast, 2016-2026

Published:
May 2020
Report Code:
BWC20077
Available Format:
PDF PDF Icon
Pages:
171

global bromine market bwc 20077

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Global Bromine Market – Market Forecast & Trends

The Global Bromine Market was prized at USD 3.1 billion in 2019, and it is predictable to reach USD 4.7 billion by 2026, at a CAGR of 6.2 %, over the forecast period.

The request for bromine compounds as a flame retardant has augmented meaningfully due to its extensive use in public and industrial uses. Besides, the demand for brominated flame-retardants has expanded with applications in customer electronics such as mobile phones, computers, and television. The request for brine fluids has been predictable to witness significant development due to their demand in drilling wells in the oil and gas industry to reduce the harm of the wellbore and productive zone. Moreover, bromine is also used in the water treatment process, which is too predictable to surge the development of the market in the coming years. In recent times, bromine has also observed fast growth owing to its extensive use as an industrial fumigant for mills, stored products, warehouses, and ships.

Global Bromine Market – Overview

Bromine is a chemical that is a fellow of the chemical family, this element used based on a wide diversity of copied and compounds, and it is mainly used as a fire retardant or to stop the fire—these blaze retardants utilized as inputs for the industrial process and products. Bromine is found in seawater and another water reservoir such as the Dead Sea. It belongs to the halogen group and is the only liquid nonmetallic element. An unstable part is reddish-brown and is mined from brine wells, seawater, salt lakes. In saltwater, bromine appears in a minimal capacity, and it is improved through the cure of seawater with chlorine gas. There is no need to make the bromine in the laboratory, as it is present commercially in the market. The bromine gas may cause throat, and eye irritation, so extreme precautions are taken while handling it.

Growth Drivers

Wide range of applications

Bromine is a chemical that is a fellow of the chemical family, this element used based on a wide diversity of copied and compounds, and it is mainly used as a fire retardant or to stop the fire—these blaze retardants utilized as inputs for the industrial process and products. Bromine is found in seawater and another water reservoir such as the Dead Sea. It belongs to the halogen group and is the only liquid nonmetallic element. An unstable part is reddish-brown and is mined from brine wells, seawater, salt lakes. In saltwater, bromine appears in a minimal capacity, and it is improved through the cure of seawater with chlorine gas. There is no need to make the bromine in the laboratory, as it is present commercially in the market. The bromine gas may cause throat, and eye irritation, so extreme precautions are taken while handling it.

Global Bromine Market: Segmentation

Applying the oil and gas drilling section is predictable to produce at the highest CAGR during the forecast period. In contrast, the flame-retardants segment is predictable to cultivate at a CAGR of 3.2%. The worldwide request for bromine is anticipated to increase over the estimated period despite it being banned in Europe due to concerns about its potential health- and environmental- impact. Request for bromine is expected to be determined chiefly by its practice in the development of new uses, such as mercury emission control and flow battery. Owing to its wide-ranging applications, a demand-supply inequity is a probability in the upcoming.

By the end-use industry, the bromine market is fragmented into pharmaceuticals, chemicals, oil and gas, electronics, textiles, and others. The chemical section is predictable to continue the largest end-use industry for bromine during the prediction period.  This section is anticipated to witness linear development during the prediction period. In the chemical end-use section, ‘other chemical manufacturing’ is predictable to see the uppermost growth, recording a CAGR of 3.7% over the prediction period. Oil and gas are anticipated to grow due to growing requests for clear brine fluids for oil and gas drilling. However, the electronics section is expected to witness sluggish growth due to government rules on the use of brominated flame-retardants in customer microchip technology.

Based on geography, the global bromine market is segmented into North America, the Middle East, and Africa (MEA), Latin America, Europe, Asia Pacific (APAC). Asia Pacific (APAC) is predicted to be the fastest-growing section during the prediction period. North America and Europe are mature markets for bromine and are tending towards restricted ingesting of brominated flame-retardants due to ecological regulations about its dangerous nature. However, bromine consumption in Latin America is predicted to grow meaningfully in 2019 due to increasing oil assessment operations in Mexico.

Global Bromine Market – Regional Insights

Asia-Pacific region signified the main regional market for bromine in 2018. The huge demand for organ bromines is a consequence of the rising need for Zinc-bromine flow batteries and surge in ingesting of flame retardant products in the region. China is the fourth-largest producer of bromine, after Israel, Jordan, and the United States. China accounts for more than 10% of the global bromine manufacture.

Competitive Landscape

Israel Chemicals Limited (Israel), Albemarle Corporation (U.S.), Tosoh Corporation (Japan), , Tata Chemicals Limited (India), Chemtura Corporation (U.S.), Jordan Bromine Company Limited (Jordan),  Gulf Resources Inc. (China), and Hindustan Salts Limited (India), Tetra Technologies Inc. (U.S.),  are some of the major manufacturers of bromine in the world.

Recent Development

Ø  In September 2019, Israel Chemicals Ltd. announced that it plans to expand its bromine compounds capacity to approximately 25,000 metric tons annually

Ø  LANXESS Corporation, in December 2018, announced its plan to invest EUR 200 million over the next three years, i.e., till 2021, to strengthen its global asset base for flame retardant additives.

·         By Type

Ø  Hydrogen Bromide

Ø  Organobromine compounds

Ø  Bromine Fluids

Ø  Others

·         By Application

Ø  Flame Retardant

Ø  Biocides

Ø  Oil and Gas

Ø  Water Treatment

Ø  Medical

Ø  Plasma Etching

Ø  PTA synthesis

Ø  Fumigant Synthesis

Ø  Others

·         By Region

Ø  North America

Ø  Europe

Ø  Asia Pacific

Ø  South America

Ø  The Middle East & Africa

The objective of the Study:

Ø  To analyze and forecast the Global Bromine Market size of the market in terms of value.

Ø  To examine the careful market segmentation and forecast the market size, in terms of value, based on the region by segmenting.

Ø  The Global Bromine Market segmented into five regions, namely, North America, Europe, Asia Pacific, Middle East, South America, and their leading countries.

Ø  To outline, categorized, and forecast the Global Bromine Market based on the Type, Application and By Regional.

Ø  To examine competitive developments like By Type, By Application and By Regional within the Global Bromine Market.

Ø  To highlight the impact analysis of the factors affecting the market dynamics such as growth drivers.

Ø  To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.

 

Business Questions Answer by the Report

Ø  How will the market drivers, restraints, and opportunities affect the market dynamics?

Ø  What will be the market size in terms of value and volume and market statistics with a detailed classification?

Ø  Which segment dominates the market or region, and one will be the fastest - growing, and why?

Ø  A comprehensive survey of the competitive landscape and the market participant players

Ø  Analysis of strategy adopted by the key player and their impact on other players.

Customization Scope for the Client

Client satisfaction is our first and last priority, and that is why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:

Additional Company Information

Ø  With five additional company detail analysis

Ø  Additional country analysis

Ø  Detailed segment analysis

 


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