Bromine is a highly volatile and corrosive chemical element, which is a fuming red brown liquid at room temperature and readily evaporates to form metals at extreme pressures. It is a halogen having properties of both chlorine and iodine. It is a crystalline mineral halide salt that exists in various types such as hydrogen bromide, organobromine compounds, bromine fluids, and others.
The demand for bromine compounds as a flame retardant has increased significantly owing to its extensive use in domestic and industrial applications. In addition, the demand for brominated flame retardants has increased with applications in consumer electronics such as computers, mobile phones, and television. The demand for brine fluids have been projected to witness significant growth owing to their application in drilling wells in the oil and gas industry to reduce the damage of the wellbore and productive zone. Moreover, bromine is also used in water treatment process, which is also expected to increase the growth of the market in the coming years. In recent times, bromine has also witnessed rapid growth owing to its extensive use as an industrial fumigant for stored products, mills, warehouses, and ships. However, stringent governmental measures regarding the application of brominated flame-retardants in textile and electronic equipment have hindered the market growth but recent introduction of new alternative brominated fire safety products are likely to result in an increase in the demand for this market. For instance, in 2016, Albemarle introduced SAYTEX bromine based flame-retardants for electronic and electrical components, insulation foam, and textile as a sustainable alternative to hexabromocyclododecane (HBCD).
Asia Pacific is expected to be the fastest growing market for bromine owing to its increased use in agricultural, residential, and chemical applications. North America is the leading market for flame retardant followed by Europe. Furthermore, increase in construction and the demand for consumer electronics are expected to augment the demand for bromine in developing nations of Latin America and Africa.
The report on the global bromine market is segmented based on type, application, and geography. Based on type, the market is bifurcated into hydrogen bromide, organobromine compounds, bromine fluids, and others. Based on application, the report includes flame retardant, biocides, oil and gas, water treatment, medical, plasma etching, PTA synthesis, fumigant synthesis, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Top market players in the global bromine market include Albemarle Corporation, Tata Chemicals Ltd, Hindustan Salts Ltd, Jordan Bromine Company Ltd, Tetra Technologies Inc, Chemtura Corporation, Tosoh Corporation, Israel Chemicals Ltd, Chemada Fine Chemicals, and Solaris ChemTech.
Key Benefits for Stakeholders
- This report entails the detailed quantitative analysis of current market and estimations from 2014 to 2022 that assist in identifying the prevailing market opportunities to capitalize on the global bromine market.
- In-depth coverage of the market including drivers, restraints, and opportunities helps professionals to better understand the market behavior.
- Detailed study of the strategies of key leaders, partnerships, and acquisitions in the market is provided.
- Porters Five Forces analysis examines the competitive structure of the market and assists strategists in better decision-making.
- Pinpoint analysis of geographical segments helps to identify opportunities for growth within the market.
Bromine Market Key Segments
- Hydrogen Bromide
- Organobromine Compounds
- Bromine Fluids
- Flame retardant
- Oil and Gas
- Water Treatment
- Plasma Etching
- PTA Synthesis
- Fumigant Synthesis
- Others (additives, anticoagulants, etc.)
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA