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Bromine – Global Market Outlook (2019-2023)

Bromine

According to Research for Markets, the Global Bromine Market is expected to grow from $2.35 billion in 2016 to reach $4.28 billion by 2023 with a CAGR of 8.9%. Increasing consumption of bromine in various end use industries such as oil & gas, automotive, pharmaceuticals, textile, agricultural, and electronics will be one of the major factors that will have a positive impact on the growth of the market. Bromine and its derivatives are widely used in PTA synthesis, plasma etching, flame retardants, biocides, and oil & gas drilling applications. Furthermore, increasing oil and gas demand, expansion of water treatment industry, developments in oil & gas production with advance manufacturing units, rising usage as mercury reducing agents and stringent environmental policies are the factors favoring the market growth. However, environmental concerns due to its toxicological effects and developing non-halogenated flame retardants will hamper the bromine market’s growth to some extent in the near future.

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Bromine is a chemical element, one of nature’s building blocks. Bromine derivatives are essential ingredients in everything from drugs and automotive tires to water purifiers, sanitizers and additives that protect lives and property from fire. Bromine derivatives are used to explore for oil and gas, and they help us keep swimming pools and spas clean and clear. They are vital to agriculture and international trade because they protect crops from insect damage and help to keep imported commodities free of invasive pests. Bromine is classified as a hazardous waste material under the CERCLA (Superfund) act of 1980 and the Resource Conservation and Recovery Act (RCRA) of 1976, along with numerous state and local laws and regulations. Under these rules, bromine must be disposed of in a way that minimizes potential harm to humans and the environment.

Asia-Pacific leads the bromine and its derivatives market globally with the biggest market share and is expected to grow with a high CAGR among the other regions. The dominance of this region is due to key players are shifting their manufacturing units from mature markets to emerging markets such as APAC and ME&A. Growing demand from end use industries, increasing investments by large players and existence of large sources of raw materials in Asia pacific region are expected to augment bromine and its derivative market in coming years. Major bromine sources include Ocean waters in Japan, Dead Sea and Brine wells of China.

Some of the key players profiled in the report include Sanofi SA, Honeywell International Inc., Aquachina Chemicals, Chemtura Corporation, Israel Chemicals Limited, Solaris Chemtech, Dhruv Chem Industries, Tetra Technologies Inc., Tosoh Corporation, Albemarle Corporation, Morre-Tec Industries Inc., Jordan Bromine Company, Hindustan Salts Limited, Gulf Resources Inc., Tata Chemicals Limited, Shandong Haiwang Chemical Co., Ltd., Shandong Dadi Salt Chemical Group Co., Ltd and Shandong Ocean Chemical Co., Ltd.

Derivatives Covered:
• Clear Brine Fluids
• Hydrogen Bromide (BHR)
• Organobromines

Applications Covered:
• Biocides
• Catalysts
• Flame Retardants
• Oil & Gas drilling
• Organic Intermediates
• Plasma etching
• PTA synthesis
• Other Applications

Verticals Covered:
• Oil and gas
• Automotive
• Chemicals
• Pharmaceuticals
• Agriculture
• Cosmetics
• Textile
• Other Verticals

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

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Research for Markets indulge in detailed and diligent research on different markets, trends and emerging opportunities in the successive direction to cater to your business needs. We have established the pillars of our flourishing institute on the grounds of Credibility and Reliability. RFM delve into the markets across Asia Pacific, North America, South America, Europe, Middle East and Africa.

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