BROMINE MARKET TO REACH USD 4.4 BILLION BY 2027 | CAGR 4.7% – FORENCIS RESEARCH

Bromine Market - Global Industry Analysis and Forecast 2020 to 2027

Global Bromine Market: Key Highlights

  • According to the new market research report Bromine Market by Derivatives (Organobromines, Clear Brine Fluid, Hydrogen Bromides), by Application (Flame Retardants, Mercury Emission Control, Oil & Gas Drilling, BHR Flow Batteries, Water Treatment, Pesticides)      , by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) – Global Forecast (2020 to 2027)”, the global Bromine market is estimated to reach USD 4.4 Billion by 2027 at a CAGR of around 4.7% during the review period.
  • Bromine is a naturally occurring element, found in sea, lakes, and underground well. It is the third largest halogen bearing element with atomic number 35.
  • Brominated flame retardants comprise nearly 70 chemical substances with properties that make them ideal for washing machines, computers, radio and televisions
  • It is widely used as a reactant and catalyst for manufacturing a variety of products, such as agrochemicals, biocides, water disinfectants, pharmaceuticals intermediates, dyes, completion fluids, flame retardants, and photographic chemicals.

Bromine Market

Global Bromine Market: Key Market Dynamics

  • Increasing demand for bromine in flame retardants, mercury emission control, water treatment, and oil & gas drilling is expected to drive the global bromine market
  • Recycling of bromine and increasing use of hydrogen bromide in flow batteries is expected to create new market opportunity for key market players
  • However, toxicological effects of brominated compounds which is likely to hamper the market growth

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Global Bromine Market: Regional Overview

  • Asia-Pacific

Asia-Pacific is expected to account for the largest share in the global bromine market. This is mainly attributed to its increasing use of bromine in China, Japan, and India. Increasing infrastructural development and the rise in the disposable income of the middle-class population in Asia Pacific have boosted the demand for flame retardants, which are used extensively in insulation and fabrication of plastic and electronic components. China is expected to be the dominant and fastest-growing market for bromine in the Asia Pacific region, mainly due to the escalating demand for brominated flame retardants in the country.

Global Bromine Market: Key Players Overview

  • Israel Chemicals Limited:

Israel Chemicals Limited also known as ICL is a US-Israel based company engaged in the manufacturing the agriculture, food and engineered materials products. The company is one of the global leader in specialty fertilizers, bromine and flame retardants. In March 2020, ICL’s manufacturing facilities in China resumed operations post a mandatory shutdown initiated since January 2020 to control the spread of the infection.

  • Albemarle Corporation:

Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions. The bromine and bromine-based business includes products used in fire safety solutions and other specialty chemicals applications. The Company serves various end markets, including petroleum refining, consumer electronics, energy storage, construction, automotive, lubricants, pharmaceuticals, crop protection, food safety and custom chemistry services.

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Rep Id : CM 0127

Published : 2020-08-06

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