The report "Bromine Market by Derivative (Organobromines, Clear Brine Fluids, Hydrogen Bromide), Application (Flame Retardants, Water Treatment, HBr Flow Batteries, Mercury Emission Control, PTA Synthesis), and Region - Global Forecast to 2022", The global bromine market was USD 2.47 Billion in 2016 and is projected to reach USD 3.96 Billion by 2022, at a CAGR of 8.4% between 2017 and 2022.
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Browse 101 Market Data Tables and 48 Figures spread through 172 Pages and in-depth TOC on "Bromine Market "
By volume, it is projected to reach 716.18 kilotons by 2022. This growth is attributed to the growing use of bromine in mercury mitigation and increasing demand for flame retardants due to increasing stringent fire safety standards.
Extensive consumption of bromine in diverse applications such as plasma etching, drilling for oil & gas, and water treatment, among others is also an important factor driving the bromine market.
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Organobromine: The largest segment of the bromine market by derivative
Organobromine was the largest segment of the global bromine market, by derivative in 2016, followed by clear brine fluids. The demand for organobromine is driven due to its effective and substantial usage as a flame retardant and biocide in major industries, such as electronics, agriculture, automotive, and oil & gas, which is expected to drive its demand globally.
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Flame Retardants: The largest application of the bromine market
Flame retardants was the largest segment of the global bromine market, by application in 2016. This large share is attributed to the growing consumption of flame retardants due to stringent fire safety regulations, from the electronics and automotive industries, and the expanding ship-building industries.
Additionally, growing infrastructural developments are expected to leads the demands for high quality insulation which is further expected to lead to an increase in the consumption of flame retardants across the globe.
Asia Pacific: The largest bromine market, by region
The Asia Pacific region was the largest market for bromine, in terms of value and volume, in 2016. The large market size of the Asia Pacific region is 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.
Large players prefer investing in these regions due to the provision of a wide range of market penetration opportunities due to the presence of large sources of raw materials such as Dead Sea bordering Israel and Jordon and underground brines in China. Abundant availability of labor and consumers is also attracting market players to establish their production facilities in the region.
Bromine manufacturers, such as Israel Chemicals Limited (Israel), Albemarle Corporation (US), Chemtura Corporation (US), Tosoh Corporation (Japan), Tata Chemicals Ltd (India), Gulf Resources Inc. (China), TETRA Technologies, Inc.
(US), Hindustan Salts Limited (India), Honeywell International Inc. (US) and Perekop bromine (Republic of Crimea) are covered in the report.
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