Global Bromine Market was prized at USD 3.1 billion in 2019, and it is predictable to reach USD 4.7 billion by 2026, at a CAGR of 6.2 %, over the forecast period.

Published | 19 May 2020

Bromine is a volatile and corrosive chemical element, which is a furious red-brown liquid at room temperature and willingly vaporizes to form metals at overwhelming pressures. It is a halogen having features of both chlorine and iodine. A crystalline mineral halide salt exists in various types, such as bromine fluids, hydrogen bromide, organobromine compounds, and others.

The request for bromine compounds as a flame retardant has augmented meaningfully due to its extensive use in public and industrial applications. Besides, the demand for brominated flame-retardants has amplified with uses in consumer electronics such as computers, mobile phones, and television. The request for brine fluids has been projected to see remarkable development due to their applications in drilling wells in the oil and gas industry to decrease the harm of the wellbore and dynamic zone. Bromine is also used in the water treatment process, which is also probable to surge the development of the market in the coming years. In recent times, bromine has also witnessed fast growth owing to its extensive use as an industrial fumigant for warehouses, stored products, mills, and ships. However, stringent governmental measures regarding the use of brominated flame-retardants in textile and electronic equipment have hindered market development. Still, a recent outline of new substitute brominated fire safety products are likely to result in a surge in the request for this market.

Bromine owns flame-resistant property and is being widely used in domestic and industrial usages. Bromine, as a water antiseptic, is gaining admiration and predictable to surge the development of the marketplace in the prediction. Bromine, as raw material or reactant in a copied chemical synthesis, will help expand the bromine market. Further, in pest control, bromine has a vital growth chance for stored products, mills, warehouses, and ships. Stringent governmental measures regarding the use of brominated flame-retardants in textile and electronic equipment have confined the market development.

Asia Pacific region is foremost the bromine market due to manufacturing facilities being shifted by large players from established markets such as Europe and North America to the Asia Pacific and Middle East & Africa. Abundant accessibility of labor and customers is also appealing market players to form their production facilities in the area.

Growth Drivers

Increasing Population Worldwide

Bromine Market is predictable to follow an upward trend because the population is growing worldwide. In the emerging Asian countries, such as India, China, and the USA, the demand for food products that are very reliant on crops is most significant. Therefore, shortly worldwide, grain demand would be motivated by these markets, which will lead to making further Bromine Market growth.

Wide range of applications

Bromine is a chemical that is a fellow of the chemical family, this element used based on a wide diversity of copied and compounds, and it is mainly used as a fire retardant or to stop the fire—these blaze retardants utilized as inputs for the industrial process and products. Bromine is found in seawater and another water reservoir such as the Dead Sea. It belongs to the halogen group and is the only liquid nonmetallic element. An unstable part is reddish-brown and is mined from brine wells, seawater, salt lakes. In saltwater, bromine appears in a minimal capacity, and it is improved through the cure of seawater with chlorine gas. There is no need to make the bromine in the laboratory, as it is present commercially in the market. The bromine gas may cause throat, and eye irritation, so extreme precautions are taken while handling it.

Global Bromine Market: Competitive Landscape

Some of the leading players operating in the Global Bromine Market are Israel Chemicals Limited (Israel), Albemarle Corporation (U.S.), Tosoh Corporation (Japan), , Tata Chemicals Limited (India), Chemtura Corporation (U.S.), Jordan Bromine Company Limited (Jordan),  Gulf Resources Inc. (China), and Hindustan Salts Limited (India), Tetra Technologies Inc. (U.S.)

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The in-depth analysis of the report provides the growth potential, upcoming trends, and statistics of the Global Bromine Market size & forecast. The report promises to provide state-of-the-art technology of Global Bromine Market and industry insights, which help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the market drivers, challenges, and competitive analysis of the market.