The global bromine market size is projected to grow from USD 3.2 billion in 2020 to USD 4.1 billion by 2025, at a CAGR of 5.0% from 2020 to 2025. The increasing demand for bromine in flame retardants, mercury emission control, water treatment, and oil & gas drilling is expected to drive the bromine market.
The oil & gas application segment is projected to grow at the highest CAGR during the forecast period.
Based on the application, the oil & gas application segment is projected to grow at the highest CARG during the forecast period. Oil & gas is the fastest-growing application of bromine. Clear brine fluids, which is one of the major derivatives of bromine, is extensively consumed in the oil & gas application. They are the saline liquids that are used in various oil & gas well drilling operations. The oil & drilling market in Asia-Pacific is rapidly growing due to the presence of abundant availability of shale gas reserves in China. The ongoing drilling activities in China are expected to make it one of the largest suppliers of shale gas globally in the near future.
The clear brine fluids derivative segment is projected to grow at the highest CAGR during the forecast period.
Based on the derivative, the clear brine fluids segment is projected to grow at the highest CAGR during the forecast period. Clear brine fluid is a dense solution of calcium bromide (CaBr2), sodium bromide (NaBr), and zinc bromide (ZnBr2) in saltwater. It is used mainly in penetrating bore-well for drilling oil and natural gas. Calcium bromide and zinc bromide brines are used in shale inhibition and drilling salt formations. Brine fluids are used in refrigeration installations for the transportation of thermal energy. The rapidly growing demand for clear brine fluids in regions like the Asia Pacific and North America can be attributed to the increasing shale gas recovery operations in China & the US, which accounts for significant shale gas reserves. This is expected to fuel the drilling & exploration activities in these regions, thus fueling the growth of the bromine.
Asia Pacific is projected to grow the highest CAGR in the bromine market during the forecast period.
Asia Pacific is projected to grow at the highest CAGR in the bromine market from 2020 to 2025. The bromine market in the Asia Pacific has witnessed growth in the last few years, owing to the growing economies of the countries and increasing consumption of bromine in major industries, such as electronics, oil & gas, agriculture, automotive, and construction. Substantial development in infrastructure and growing demand for flame retardants in automobile and construction & insulation is expected to drive the bromine market in this region. Southeast Asia, including Indonesia, Malaysia, Thailand, and Vietnam, is also a rapidly growing market of bromine. The demand for bromine in brominated flame retardants has been increasing since the past few years, outpacing the supply of bromine.
Profile break-up of primary participants for the report:
- By Company Type: Tier 1 - 45%, Tier 2 - 22%, and Tier 3 - 33%
- By Designation: C-level Executives - 50%, Directors - 10%, and Others - 40%
- By Region: Asia Pacific - 17%, Europe - 25%, North America - 33%, Middle East & Africa- 8%, and South America - 17%
Furthermore, as a part of the qualitative analysis of the bromine market, the research provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing the growth of the market across the globe. It also discusses competitive strategies adopted by the leading market players such as Israel Chemicals Limited (Israel), Albemarle Corporation (US), Lanxess (Germany), 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).
The report defines, segments, and projects the size of the bromine market based on application, derivative, and region. It strategically profiles the key players and comprehensively analyzes their market share and core competencies. It also tracks and analyzes competitive developments such as expansions, new product developments, partnerships, and collaborations undertaken by them in the market.
Reasons to Buy the Report:
The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the bromine market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses and make suitable go-to-market strategies. It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
Figure 1 Bromine Market Segmentation
1.3.2 Years Considered for the Study
1.5 Package Size
2 Research Methodology
2.1 Market Definition and Scope
2.2 Base Number Calculation
2.2.1 Supply-Side Approach
2.3 Forecast Number Calculation
2.4 Market Engineering Process
2.4.1 Top-Down Approach
2.5 Research Data
2.5.1 Secondary Data
188.8.131.52 Key Data from Secondary Sources
2.5.2 Primary Data
184.108.40.206 Key Data from Primary Sources
220.127.116.11 Key Industry Insights
18.104.22.168 Breakdown of Primary Interviews
2.6 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Bromine Market
4.2 Bromine Market, by Derivative
4.3 Bromine Market in the Asia Pacific, by Application and Country
4.4 Bromine Market: Major Countries
5 Market Overview
5.2 Market Dynamics
22.214.171.124 Growing Use of Bromine in Mercury Emission Mitigation
126.96.36.199 Increasing Demand for Flame Retardants Due to Stringent Fire Safety Framework
188.8.131.52 Extensive Consumption of Bromine in Diverse Applications
184.108.40.206 Increased Use of Bromine As a Disinfectant Due to the Covid-19 Pandemic
220.127.116.11 Toxicological Effects of Brominated Compounds
18.104.22.168 Emergence of Non-Halogenated Flame Retardants
22.214.171.124 Recycling of Bromine
126.96.36.199 Increasing Use of Hydrogen Bromide in Flow Batteries
188.8.131.52 Significant Fluctuations in Oil & Gas Prices
184.108.40.206 Decrease in Oil & Gas Production Due to the Covid-19 Pandemic
220.127.116.11 Supply Chain, Trade, and Economic Disruptions Due to the Covid-19 Pandemic
5.3 Porter’S Five Forces Analysis
5.3.1 Bargaining Power of Suppliers
5.3.2 Threat of New Entrants
5.3.3 Threat of Substitutes
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Rivalry
5.4 Macroeconomic Overview and Trends
5.4.2 Trends and Forecast of Gdp
5.4.3 Trends of Oil & Natural Gas Prices
6 Bromine Market, by Derivative
6.2.1 Organobromine Derivative Segment Accounted for the Largest Market Share
18.104.22.168 Covid-19 Impact on Organobromine
6.3 Clear Brine Fluids
6.3.1 Clear Brine Fluids Projected to Be the Fastest-Growing Derivative Segment in the Global Bromine Market
22.214.171.124 Covid-19 Impact on Clear Brine Fluids
6.4 Hydrogen Bromide (Hbr)
6.4.1 Growth in the Chemical, Plastics and Pharmaceutical Industries is Expected to Drive the Hbr Derivative Segment
126.96.36.199 Covid-19 Impact on Hydrogen Bromide
7 Bromine Market, by Application
7.2 Flame Retardants
7.2.1 Flame Retardants is the Largest Application Segment of the Bromine Market
188.8.131.52 Impact of Covid-19 on Flame Retardants
7.3 Water Treatment & Biocides
7.3.1 Water Treatment is the Fourth-Largest Application Segment in the Global Bromine Market
184.108.40.206 Impact of Covid-19 on Water Treatment & Biocides
7.4 Mercury Emission Control
7.4.1 Mercury Emission Control to Be One of the Fastest-Growing Application Segments in the Bromine Market
220.127.116.11 Impact of Covid-19 on Mercury Emission Control
7.5 Oil & Gas Drilling
7.5.1 Oil & Gas Drilling Accounted for the Second-Largest Share in the Global Bromine Market
18.104.22.168 Impact of Covid-19 on Oil & Gas Drilling
7.6 Hbr Flow Batteries
7.6.1 Growing Demand for Hbr Flow Batteries in Asian Countries, Such As China & Japan, is Expected to Drive the Hbr Application Segment
22.214.171.124 Impact of Covid-19 on Hbr Flow Batteries
7.7 Pta Synthesis
7.7.1 Pta Synthesis Was the Third-Largest Application Segment of the Global Bromine Market
126.96.36.199 Impact of Covid-19 on Pta Synthesis
7.8.1 Growing Demand from Countries Such As China and India is Expected to Drive the Market for Bromine in the Pesticides Application Segment
188.8.131.52 Impact of Covid-19 on Pesticides
7.9 Plasma Etching
7.9.1 Plasma Etching is Among the Fastest-Growing Application Segments in the Global Bromine Market
7.10.1 High Demand from Pharmaceutical Industry, for Chemical Compounds Manufacturing and Drug Formulations, Drives the Market for Bromine in the Pharmaceuticals Application Segment
184.108.40.206 Impact of Covid-19 on Pharmaceuticals
7.11.1 Impact of Covid-19 on Other Applications
8 Bromine Market, by Region
8.2 Asia Pacific
8.2.1 Impact of Covid-19 on the Asia Pacific
220.127.116.11 China Accounted for the Largest Share in the Global Bromine Market
18.104.22.168 Impact of Covid-19 on China
22.214.171.124 Japan Accounted for the Second-Largest Share in the Asia Pacific Bromine Market
126.96.36.199 Impact of Covid-19 on Japan
188.8.131.52 Growing Demand from Flame Retardants, Pesticides, and Water Treatment Application Segments Fuels the Growth of the Market for Bromine in India
184.108.40.206 Impact of Covid-19 on India
8.2.5 South Korea
220.127.116.11 South Korea Accounted for the Fourth-Largest Share in the Asia Pacific Bromine Market
18.104.22.168 Impact of Covid-19 on South Korea
22.214.171.124 Growing Demand from the Flame Retardants Application Segment Has Fueled the Growth of the Market for Bromine in Taiwan
126.96.36.199 Impact of Covid-19 on Taiwan
8.2.7 Rest of Asia Pacific
188.8.131.52 Impact of Covid-19 on the Rest of Asia Pacific
8.3 North America
8.3.1 Impact of Covid-19 on North America
184.108.40.206 Us Accounted for the Largest Share in the North American Bromine Market
220.127.116.11 Impact of Covid-19 on the Us
18.104.22.168 Canada Accounted for the Second-Largest Share in the North American Bromine Market
22.214.171.124 Impact of Covid-19 on Canada
126.96.36.199 Growing Demand from Flame Retardants Application Segment Fuels the Growth of the Market for Bromine in Mexico
188.8.131.52 the Impact of Covid-19 on Mexico
8.4 Western Europe
8.4.1 Impact of Covid-19 on Western Europe
184.108.40.206 Germany Accounted for the Largest Share in the Western European Bromine Market
220.127.116.11 Impact of Covid-19 on Germany
18.104.22.168 France Accounted for the Third-Largest Share in the Western European Bromine Market
22.214.171.124 Impact of Covid-19 on France
126.96.36.199 Uk Accounted for the Second-Largest Share in the Western European Bromine Market
188.8.131.52 Impact of Covid-19 on the Uk
8.4.5 Rest of Western Europe
184.108.40.206 Impact of Covid-19 on Rest of Western Europe
9 Central & Eastern Europe
9.1 Impact of Covid-19 on Central & Eastern Europe
220.127.116.11 Russia Accounted for the Largest Share in the Central and Eastern European Bromine Market
18.104.22.168 Impact of Covid-19 on Russia
22.214.171.124 Growing Demand from Flame Retardants Application Segment Fuels Growth of the Market for Bromine in Turkey
126.96.36.199 Impact of Covid-19 on Turkey
9.1.3 Rest of Central & Eastern Europe
188.8.131.52 Impact of Covid-19 on Rest of Central & Eastern Europe
9.2 Middle East & Africa
9.2.1 Impact of Covid-19 on the Middle East & Africa
9.3 South America
9.3.1 Impact of Covid-19 on South America
184.108.40.206 Brazil Accounted for the Largest Share in the South America Bromine Market
220.127.116.11 Impact of Covid-19 on Brazil
18.104.22.168 Argentina Accounted for the Second-Largest Share in the South America Bromine Market
22.214.171.124 Impact of Covid-19 on Argentina
9.3.4 Rest of South America
126.96.36.199 Impact of Covid-19 on Rest of South America
10 Competitive Landscape
10.2 Competitive Leadership Mapping
10.2.1 Dynamic Differentiators
10.2.2 Visionary Leaders
10.2.4 Emerging Companies
10.3 Competitive Benchmarking
10.3.1 Strength of Product Portfolio (25 Players)
10.3.2 Business Strategy Excellence (25 Players)
10.4 Market Ranking of Key Players
10.4.1 Lanxess Corporation (Us)
10.4.2 Israel Chemicals Limited (Israel)
10.4.3 Albemarle Corporation (Us)
10.4.4 Tosoh Corporation (Japan)
10.4.5 Tata Chemicals Limited (India)
10.4.6 Tetra Technologies Inc. (China)
11 Company Profiles
11.1 Israel Chemicals Ltd.
11.2 Albemarle Corporation
11.3 Lanxess Corporation
11.4 Tosoh Corporation
11.5 Tetra Technologies, Inc.
11.6 Gulf Resources Inc.
11.7 Tata Chemicals Limited
11.8 Hindustan Salts Limited
11.9 Honeywell International Inc.
11.10 Perekop Bromine
11.11 Additional Company Profiles
11.11.1 Sanofi Sa
11.11.2 Aquachina Chemicals
11.11.3 Morre-Tec Industries Inc.
11.11.4 Solaris Chemtech Industries Ltd.
11.11.5 Agrocel Industries Limited
11.11.6 Shandong Yuyuan Group Co., Ltd.
11.11.7 Shandong Haiwang Chemical Co., Ltd.
11.11.8 Shandong Haihua Group Co., Ltd.
11.11.9 Shandong Ocean Chemical Co., Ltd.
11.11.10 Shandong Weifang Longwei Industrial Co., Ltd.
11.11.11 Shandong Runke Chemical Engineering Co., Ltd.
11.11.12 Dhruv Chem Industries
11.11.13 Shandong Lubei Chemical Co., Ltd.
11.11.14 Shandong Dadi Salt Chemical Group Co., Ltd.
11.11.15 Shandong Haoyuan Group
12 Adjacent & Related Markets
12.3 Flame Retardant Market
12.3.1 Market Definition
12.3.2 Market Overview
12.4 Flame Retardant Market, by End-Use Industry
12.4.1 Building & Construction
12.4.2 Electronics & Appliances
12.4.3 Automotive & Transportation
12.4.4 Wires & Cables
12.5 Flame Retardant Market, by Region
12.5.1 Asia Pacific
12.5.2 North America
12.5.3 Western Europe
12.5.4 Central & Eastern Europe
12.5.5 Middle East & Africa
12.5.6 South America
12.6 Water Treatment Chemicals Market
12.6.1 Market Definition
12.6.2 Market Overview
12.7 Water Treatment Chemicals, by End-Use Industry
12.7.3 Oil & Gas
12.7.6 Food & Beverage
12.7.7 Pulp & Paper
12.8 Water Treatment Chemicals Market, by Region
12.8.1 Asia Pacific
12.8.2 North America
12.8.4 Middle East & Africa
12.8.5 South America
12.9 Battery Energy Storage System Market
12.9.1 Market Definition
12.9.2 Market Overview
12.1 Battery Energy Storage System Market, by End-Use Industry
12.10.4 Other Applications
12.11 Battery Energy Storage System Market, by Region
12.11.1 Asia Pacific
12.11.2 North America
12.11.4 Rest of the World (Row)
13.1 Insights of Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Subscription Portal
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details
- Agrocel Industries Limited
- Albemarle Corporation
- Aquachina Chemicals
- Dhruv Chem Industries
- Gulf Resources Inc.
- Hindustan Salts Limited
- Honeywell International Inc.
- Israel Chemicals Ltd.
- Lanxess Corporation
- Morre-Tec Industries Inc.
- Perekop Bromine
- Sanofi Sa
- Shandong Dadi Salt Chemical Group Co., Ltd.
- Shandong Haihua Group Co., Ltd.
- Shandong Haiwang Chemical Co., Ltd.
- Shandong Haoyuan Group
- Shandong Lubei Chemical Co., Ltd.
- Shandong Ocean Chemical Co., Ltd.
- Shandong Runke Chemical Engineering Co., Ltd.
- Shandong Weifang Longwei Industrial Co., Ltd.
- Shandong Yuyuan Group Co., Ltd.
- Solaris Chemtech Industries Ltd.
- Tata Chemicals Limited
- Tetra Technologies, Inc.
- Tosoh Corporation