The global bromine market reached a value of US$ 3.2 billion in 2021. Looking forward, the market is projected to reach US$ 4.2 billion by 2027, exhibiting a CAGR of 4.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different End-use industries. These insights are included in the report as a major market contributor.
Bromine is a chemical element found naturally in Earth’s crusts and extracted via electrolysis. It is soluble in water and has a deep red color with a pungent odor. It is widely utilized to make organobromine compounds across the globe. These compounds find extensive applications in the manufacturing of halon fire extinguishers that prevent fire breakouts in places like museums, airports, and tanks. Besides this, bromine is used in film photography, surface cleaning of printed circuits and rubber used for car tires, and disinfecting swimming pools and industrial cooling water.
A significant part of the population suffers from famine and malnutrition on account of limited food supply, rising global population, and decreasing arable land. This represents one of the key factors positively influencing the use of bromine to improve crop yields and cater to the nutritional needs of humans. In addition, governing agencies of numerous countries are encouraging the adoption of modern agricultural practices that involve long-term storage of products, such as grains, cotton, and fresh fruit and vegetables. This, in turn, is increasing the sales of bromine to control pests degrading products stored for extended periods. Moreover, it is utilized in the preparation of over-the-counter (OTC) and prescription drugs. This, in confluence with the growing prevalence of chronic diseases, is catalyzing the demand for bromine to treat heart problems, thyroid hyperactivity, hysteria, seizures, and colic in babies. Apart from this, the thriving food and beverage (F&B) industry is contributing to the utilization of bromine as an emulsifier in beverages. Furthermore, its expanding usage in making fumigants, dyestuffs, textiles, water purification compounds, chemical intermediates, furniture foam, and plastic casings for electronics is projected to drive the market.
This report provides an analysis of the key trends in each sub-segment of the global bromine market, along with forecasts at the global, regional and country level from 2022-2027. The report has categorized the market based on derivative, application and End-user.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Albemarle Corporation, Chemada Industries Ltd., Gulf Resources Inc., Hindustan Salts Limited, Honeywell International Inc., ICL Group Ltd., Jordan Bromine Company Limited, Lanxess AG, Solaris Chemtech Industries Limited (Agrocel Industries Pvt. Ltd.), Tata Chemicals Limited, TETRA Technologies Inc. and Tosoh Corporation.
Bromine is a chemical element found naturally in Earth’s crusts and extracted via electrolysis. It is soluble in water and has a deep red color with a pungent odor. It is widely utilized to make organobromine compounds across the globe. These compounds find extensive applications in the manufacturing of halon fire extinguishers that prevent fire breakouts in places like museums, airports, and tanks. Besides this, bromine is used in film photography, surface cleaning of printed circuits and rubber used for car tires, and disinfecting swimming pools and industrial cooling water.
Bromine Market Trends
A significant part of the population suffers from famine and malnutrition on account of limited food supply, rising global population, and decreasing arable land. This represents one of the key factors positively influencing the use of bromine to improve crop yields and cater to the nutritional needs of humans. In addition, governing agencies of numerous countries are encouraging the adoption of modern agricultural practices that involve long-term storage of products, such as grains, cotton, and fresh fruit and vegetables. This, in turn, is increasing the sales of bromine to control pests degrading products stored for extended periods. Moreover, it is utilized in the preparation of over-the-counter (OTC) and prescription drugs. This, in confluence with the growing prevalence of chronic diseases, is catalyzing the demand for bromine to treat heart problems, thyroid hyperactivity, hysteria, seizures, and colic in babies. Apart from this, the thriving food and beverage (F&B) industry is contributing to the utilization of bromine as an emulsifier in beverages. Furthermore, its expanding usage in making fumigants, dyestuffs, textiles, water purification compounds, chemical intermediates, furniture foam, and plastic casings for electronics is projected to drive the market.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global bromine market, along with forecasts at the global, regional and country level from 2022-2027. The report has categorized the market based on derivative, application and End-user.
Breakup by Derivative:
- Hydrogen Bromide
- Organobromine Compounds
- Bromine Fluids
- Others
Breakup by Application:
- Biocides
- Flame Retardants (FR)
- Bromine-Based Batteries
- Clear Brine Fluids (CBF)
- Others
Breakup by End-user:
- Chemicals
- Oil and Gas
- Pharmaceuticals
- Agriculture
- Textiles
- Electronics
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being Albemarle Corporation, Chemada Industries Ltd., Gulf Resources Inc., Hindustan Salts Limited, Honeywell International Inc., ICL Group Ltd., Jordan Bromine Company Limited, Lanxess AG, Solaris Chemtech Industries Limited (Agrocel Industries Pvt. Ltd.), Tata Chemicals Limited, TETRA Technologies Inc. and Tosoh Corporation.
Key Questions Answered in This Report
- How has the global bromine market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global bromine market?
- What are the key regional markets?
- What is the breakup of the market based on the derivative?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the End-user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global bromine market and who are the key players?
- What is the degree of competition in the industry?
Frequently Asked Questions about the Global Bromine Market
What is the estimated value of the Global Bromine Market?
What is the growth rate of the Global Bromine Market?
What is the forecasted size of the Global Bromine Market?
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| Report Attribute | Details |
|---|---|
| No. of Pages | 143 |
| Published | April 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 3.2 Billion |
| Forecasted Market Value ( USD | $ 4.2 Billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Bromine Market
6 Market Breakup by Derivative
7 Market Breakup by Application
8 Market Breakup by End User
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Albemarle Corporation
- Chemada Industries Ltd.
- Gulf Resources Inc.
- Hindustan Salts Limited
- Honeywell International Inc.
- ICL Group Ltd.
- Jordan Bromine Company Limited
- Lanxess AG
- Solaris Chemtech Industries Limited (Agrocel Industries Pvt. Ltd.)
- Tata Chemicals Limited
- TETRA Technologies Inc.
- Tosoh Corporation
Methodology
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