Global Bromine Market was valued US$ 3.5 Bn in 2017 and is anticipated to reach US$ 8.5 Bn by 2026 at a CAGR of 11.7 % during a forecast period.
Global bromine market is segmented by type, by application and by region. Based on derivative global bromine market is divided into hydrogen bromide, organo bromine compounds, bromine fluids, and others. Flame retardant, biocides, oil and gas, water treatment, medical, plasma etching, PTA synthesis, fumigant synthesis, and others are application segments of bromine market. Geographically report describes market for North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Bromine possess flame resistant property and is being extensively use in domestic and industrial appliances. Bromine as a water disinfectant is gaining popularity and expected to increase the growth of the market in the forecast. Bromine as raw material or reactant in a synthesis of derivative chemical will help to augment bromine market. Further, in pest control bromine has significant growth opportunity for stored products, mills, warehouses, and ships. Stringent governmental measures regarding the application of brominated flame-retardants in textile and electronic equipment have restrain the market growth.
Global Bromine Market
Stringent fire safety regulations, from the electronics and oil & gas industry industries, and the expanding ship-building industries is stimulating the bromine market. Oil & gas is driving the growth of organo bromine segment market. Oil and gas drilling segment is expected to grow at highest CAGR during the forecast period. Effective and substantial usage as a flame retardant and biocide in major industries, such as electronics, agriculture, other.
Organo bromine was the major segment of the global bromine market, by derivative in 2017,followed by clear brine fluids. Bromine fluid is used in oil and gas industry while drilling process as anti-corrosion agent.
Asia Pacific region is leading the bromine market due to manufacturing facilities being shifted by large players from mature markets such as Europe and North America to the Asia Pacific and Middle East & Africa. Abundant availability of labour and consumers is also attracting market players to establish their production facilities in the region.
Tosoh Corporation, Albemarle Corporation, Morre-Tec Industries Inc., Jordan Bromine Company, Hindustan Salts Limited, Gulf Resources Inc., Tata Chemicals Limited, Shandong Haiwang Chemical Co., Ltd., Shandong Dadi Salt Chemical Group Co., Ltd and Shandong Ocean Chemical Co., Ltd.Sanofi SA, Honeywell International Inc., Aquachina Chemicals, Chemtura Corporation, Israel Chemicals Limited, Solaris Chemtech, Dhruv Chem Industries, Tetra Technologies Inc. are leading player in the global bromine market.
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