Bromine Market by Derivative Type (Organobromines, Clear Brine Fluids, Hydrogen Bromide, and Others); Application (Flame Retardants, Water Treatment, Mercury Emission Control, Oil and Gas Drilling, BHR Flow Batteries, Fine Chemicals, Agricultural Products, Biocides, Inorganic Compounds, Energy Storage, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026644 | Pages: 100 | Industry: Chemicals and Materials | Date: Oct 2022 | Type: Global

The market crossed US$ 3.4 billion mark in 2022 and is expected to hit US$ 5.2 billion by 2030, recording a CAGR of 5.4% during the forecast period.

Bromine market has been significantly growing with the high adoption of bromine in various applications

Rising demand for bromine in flame retardants, oil & gas drilling, PTA synthesis, mercury emission control, and water treatment & biocides is surging the market growth. Brominated flame retardants are mixtures of man-made chemicals that are added to a wide variety of products, including for industrial use, to make them less flammable. Brominated flame retardants are also added to furniture foams, electronic plastic moldings, and fibers to prevent ignition. This has led to a significant increase in sales. Moreover, various countries are focused on the implementation of stringent fire safety regulations in the automotive, electronics, consumer goods, and textile industries. These safety standards and regulations have, therefore, increased the demand for flame retardants globally, which is bolstering the bromine market growth.

Within the report, the market is segmented into derivative type, application, and geography. By derivative type, the market is further segmented into organobromines, clear brine fluids, hydrogen bromide, and others. On the basis of application, the market is bifurcated into flame retardants, water treatment, mercury emission control, oil and gas drilling, BHR flow batteries, fine chemicals, agricultural products, biocides, inorganic compounds, energy storage, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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Growing demand of bromine from the agricultural sector is providing growth opportunities to the market

Bromine is a highly volatile and corrosive chemical element. It is a fuming red brown liquid at room temperature and readily evaporates to form metals at extreme pressures. It is a halogen having properties of both chlorine and iodine. Bromine is also used to reduce mercury emissions from industry and coal-fired power plants. Bromine compounds are also effective pesticides, used both as soil fumigants in agriculture, particularly fruit-growing, and as a fumigant to prevent pests from attacking stored grain and other produce. Additionally, bromine is more effective than chlorine at high pH levels. Bromine performs better than chlorine in sunlight and has less of a chemical odor. This makes bromine a great option to be used in water treatment. All these properties of bromine are surging its demand in various applications, hence proliferating the market growth.

Increasing demand for bromine in automotive and electronics industries is one of the major factors accelerating the market growth

The applications for bromine are in flame retardants, water treatment, mercury emission control, oil and gas drilling, BHR flow batteries, fine chemicals, agricultural products, biocides, inorganic compounds, energy storage, and others. Moreover, increasing use of hydrogen bromide in flow batteries is further augmenting the market growth. Hydrogen-bromine flow batteries are a reliable source of sustainable power for large scale industrial units and are currently being used as reliable energy storage solutions in various industrial units around the globe.

Recent strategic developments in bromine market

The bromine market has undergone several significant developments, and a few of these have been mentioned below:

  • In June 2020, Tosoh Corporation decided to expand its production capacity for bromine for use in flame retardants, fungicides, medicines, and agrochemicals. The company invested around USD 90 million; the expansion project will result in an approximately 30% increase over present production capacity. The project is expected to be complete in January 2023.
  • In July 2019, LANXESS AG started using Emerald Innovation 3000 as a flame retardant for expanded (EPS) and extruded (XPS) polystyrene instead of hexabromocyclododecane (HBCD), which has now been banned. Emerald Innovation 3000 was earlier majorly used as a flame retardant in electronics and electrical applications. This product, manufactured via the bromination of an alternating polystyrene butadiene copolymer, helped decrease the use of hexabromocyclododecane (HBCD), which is hazardous for health.

The bromine market is driven by several players implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. ICL Group Limited, Albemarle Corporation, LANXESS AG, Tosoh Corporation, TATA Chemicals Limited, Gulf Resources Inc., TETRA Technologies, Inc., Solaris Chemtech Industries Ltd., Honeywell International Inc., and Perekop Bromine among others are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Biocides providers
  • Flame retardants manufacturers
  • Environment related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Flame retardants distributors and sales firms
  • End users of bromine
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Derivative Type:
    • Organobromines
    • Clear Brine Fluids
    • Hydrogen Bromide
    • Others
  • Application
    • Flame Retardants
    • Water Treatment
    • Mercury Emission Control
    • Oil and Gas Drilling
    • BHR Flow Batteries
    • Fine Chemicals
    • Agricultural Products
    • Biocides
    • Inorganic Compounds
    • Energy Storage
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Albemarle Corporation
    • Tosoh Corporation
    • Solaris Chemtech Industries Ltd.
    • Honeywell International Inc.

The List of Companies
- Albemarle Corporation
- Tosoh Corporation
- Solaris Chemtech Industries Ltd.
- Honeywell International Inc.

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