The report “Bromine Market by Derivative (Organobromine, Clear Brine Fluids, Hydrogen Bromide), Application (Flame Retardants, Oil & Gas Drilling, PTA Synthesis, Water Treatment& Biocides, HBR Flow Batteries) & Region – Global Forecast to 2026″, is projected to grow from USD 3.3 billion in 2021 to USD 4.1 billion by 2026, at a CAGR of 4.5% from 2021 to 2026. The market growth is driven by the increasing demand for bromine in flame retardants, PTA synthesis, water treatment & biocides, and oil & gas drilling.
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• 345 Market data Tables
• 53 Figures
• 305 Pages and in-depth TOC on “Bromine Market – Global Forecast to 2026”
Some of the prominent key players are:
· ICL Group Ltd. (Israel)
· Albemarle Corporation (US)
· LANXESS AG (Germany)
· Tosoh Corporation (Japan)
· Solaris Chemtech Industries Ltd. (India)
· Gulf Resources Inc. (China)
Opportunity: Recycling of bromine
The need to recycle bromine products has increased owing to the increasing raw material costs and freight and environmental pressures, compelling companies to look for a more sustainable alternative to bromine. The use of flame retardants in certain engineering & electronic plastic components is essential to ensure safety and comply with relevant safety regulations. Halogenated flame retardants have traditionally been used in plastics because of their efficiency and suitability with various types of plastics. Bromine and chlorine are an essential part of the chemical industry and are widely used in the synthesis of a variety of chemical compounds. Bromine is typically preferred in the manufacturing of flame retardants because of the requirement for a lesser quantity of bromine to attain the highest level of fire safety in a flame retardant. It is used in several E&E components, with major applications in equipment housings and printed circuit boards.
The organobromine segment accounted for the largest share of the bromine market in 2020.
By derivative, the organobromine segment accounted for the largest share of the bromine market in 2020. due to its extensive use in flame retardants, pesticides, and water treatment. Organobromine compounds, such as tetrabromobisphenol-A, hexabromocyclododecane, and the bromodiphenyl ethers, are used as flame retardants in many industries, mainly electronics, textile, and plastics. The major applications of organobromine are flame retardants and biocides. Some organobromine derivatives are also used in water treatment applications, such as the cleaning up of pools and spas. They are an important ingredient for making dyes. Organobromines are used as intermediates for preparing pharmaceuticals like nicergoline and brotizolam. and as an anticancer agent pipobroman. Bromoform and dibromodimethylhydantoin organobromine are used in water treatment applications, to prevent the growth of algae, bacteria, and other microorganisms as well as for the prevention of foul odor in water. The flourishing electronics & telecommunication, textile, plastic, and construction industries are expected to drive the market for organobromine.
Asia Pacific is projected to register the fastest growth during the forecast period
The Asia Pacific region accounted for the largest share of the bromine market in 2020. China, India, Japan, and South Korea are key countries contributing to the increased demand for bromine in this region. Substantial development in infrastructure and increasing demand for flame retardants in the automobile and building & construction end-use industry are expected to drive the bromine market in this region.
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