Bromine Market worth $4.4 billion by 2028 – At a CAGR of 4.2%

According to a market research report, the “Bromine Market by Derivative (Organobromine, Clear Brine Fluids and Hydrogen Bromide), Application (Flame Retardants, PTA Synthesis, Water Treatment & Biocides, HBR Flow Batteries), End-User & Region – Global Forecast to 2028″, is expected to grow from USD 3.6 billion in 2023 to USD 4.4 billion by 2028, at a CAGR of 4.2%. The major factors driving the bromine market is extensive consumption in diversified applications, such as flame retardants, plasma etching, water treatment, pesticide formulation, among others.

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This report also provides a comprehensive analysis of the companies listed below:

The key players in the market include Toray Industries Inc. (Japan), SGL Carbon (Germany), Teijin Limited (Japan), Mitsubishi Chemical Holding Corporation (Japan), Owen Cornings (US), Hexcel Corporation (US), Solvay SA (Belgium), Gurit (Switzerland), UFP Technologies Ltd. (US), Huntsman Corporation (US), and Hexion (US).

Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Bromine Market.

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ICL Group Ltd. – ICL Group Ltd. is one of the largest players operating in the bromine market. The company works in fertilizers, bromine, and flame retardants. The company has focused on new product development and expansions strategies to strengthen its position in the bromine market. In January 2023, ICL Group Ltd launched new product BromoQuel which is a bromine neutralization system.

Albemarle Corporation – Albemarle Corporation has a strong product portfolio and supplies products to various industries. The company has established a joint venture with Jordan Bromine Company Ltd. (Jordan) to obtain high-quality bromine from the Dead Sea. In November 2022, Albemarle Corporation announced its plan to expand and modernize two bromine facilities in Magnolia, Arkansas, to meet the growing demand for fire safety and specialty products.

Tosoh Corporation – Tosoh Corporation manufactures bromine, hydrobromic acid, and various grades of flame retardants used in the electronics, consumer goods, textile, and automotive industries. In June 2020, Tosoh Corporation has decided to expand its production capacity for bromine at its Nanyo Complex in Shunan City, Yamaguchi Prefecture.

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