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Bromine - Global Market Trajectory & Analytics

  • ID: 595581
  • Report
  • February 2022
  • Region: Global
  • 287 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Albemarle Corporation
  • Arab Potash Company
  • Gulf Resources, Inc.
  • Hindustan Salts Limited
  • ICL-IP America, Inc.
  • LANXESS AG

Global Bromine Market to Reach $3.8 Billion by 2026


Bromine is a chemical element that occurs naturally and typically exists in the form of a red-brown liquid at room temperature. Bromine is one of the many naturally occurring elements, easily found in underground wells, lakes and seas. Bromine continues to experience a consistent demand, despite enforcement of strict legislations and regulations by various governments. Growth in the global market is set to be driven by rising demand for the element in various applications, and in industries, including water treatment, pharmaceuticals, cosmetics, pesticides, textile, and agro-fumigants. Bromine is widely employed as a drilling fluid within the oil and gas industry. Clear brine fluids are extensively used in oil & gas drilling activities where they control formation pressure as well as reduce damages to reservoirs. Market prospects are also bolstered by increasing demand from coal-fired power generation plants in which the chemical is used for controlling mercury emissions and the growing flame retardants demand which is being triggered by fire-safety regulations worldwide becoming increasingly stringent. The increasing use of various bromine derivatives in several other applications, such as biocides, water treatment, and dyes is anticipated to boost the demand.

Amid the COVID-19 crisis, the global market for Bromine estimated at US$2.8 Billion in the year 2020, is projected to reach a revised size of US$3.8 Billion by 2026, growing at a CAGR of 5.5% over the analysis period. Organobromines, one of the segments analyzed in the report, is projected to record a 5.5% CAGR and reach US$1.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Clear Brine Fluids segment is readjusted to a revised 6.0% CAGR for the next 7-year period. The robust growth in oil and gas drilling sector is expected to boost demand for organobromines due to escalating demand for drilling fluids. This is primarily driven by rise in oil and gas exploration activities due to shale discovery in offshore US and Gulf of Mexico. The growing demand for Zinc-bromine flow batteries and rising consumption of flame retardant products augment demand for organobromines. Clear brine fluids constitute the second largest derivative which is currently witnessing increasing demand from Asia-Pacific shale gas-recovery operations.



The U.S. Market is Estimated at $527.2 Million in 2021, While China is Forecast to Reach $1.2 Billion by 2026


The Bromine market in the U.S. is estimated at US$527.2 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.2 Billion by the year 2026 trailing a CAGR of 7.1% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.1% and 4.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR. The US and Europe are the foremost adopters of bromine-based products, which initially became popular in the form of flame retardants. However, the hazardous nature of bromine limits its consumption. Asia-Pacific has evolved into the most important regional market for bromine and bromine-based products. Massive industrial expansion, upsurge in infrastructural development and rising disposable income have augmented demand for flame retardants that find extensive use in fabrication and insulation of electronic and plastic components. This in turn boosts market prospects for bromine in the region.

Hydrogen Bromide Segment to Reach $457.8 Million by 2026


Growth in the hydrogen bromide segment is supported by growing use of hydrogen bromide in flow batteries. In the global Hydrogen Bromide segment, USA, Canada, Japan, China and Europe will drive the 3.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$272.8 Million in the year 2020 will reach a projected size of US$361.9 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$69.5 Million by the year 2026, while Latin America will expand at a 4.7% CAGR through the analysis period.

Select Competitors (Total 26 Featured) -

  • Albemarle Corporation
  • Arab Potash Company
  • Chemada Fine Chemicals Company Ltd.
  • Gulf Resources, Inc.
  • Hindustan Salts Limited
  • Honeywell International, Inc.
  • ICL-IP America, Inc.
  • Israel Chemicals Limited (ICL)
  • Jordan Bromine Company Ltd.
  • LANXESS AG
  • MORRE-TEC Industries, Inc.
  • Oceanchem Group
  • Perekop Bromine
  • Shouguang Luyuan Salt Chemical Co. Ltd
  • Solaris ChemTech Industries Ltd.
  • Tata Chemicals Ltd.
  • Tetra technologies, Inc.
  • Tosoh Corporation
Frequently Asked Questions about the Global Market for Bromine

What is the estimated value of the Global Market for Bromine?

The Global Market for Bromine was estimated to be valued at $2.8 Billion in 2020.

What is the growth rate of the Global Market for Bromine?

The growth rate of the Global Market for Bromine is 5.2%, with an estimated value of $3.8 Billion by 2026.

What is the forecasted size of the Global Market for Bromine?

The Global Market for Bromine is estimated to be worth $3.8 Billion by 2026.

Who are the key companies in the Global Market for Bromine?

Key companies in the Global Market for Bromine include Albemarle Corporation, Arab Potash Company, Chemada Fine Chemicals Company Ltd., Gulf Resources, Inc., Hindustan Salts Limited, Honeywell International, Inc., ICL, IP America, Inc. and Jordan Bromine Company Ltd..
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Albemarle Corporation
  • Arab Potash Company
  • Gulf Resources, Inc.
  • Hindustan Salts Limited
  • ICL-IP America, Inc.
  • LANXESS AG

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 on Bromine Production and the Overall Chemical Sector
  • Chemical Industry Geographical Landscape and the Covid-19 Impact
  • Response of US Chemical Industry to Covid-19
  • Impact and After-Effects of Covid-19 Crisis in China
  • A Prelude to Bromine
  • Worldwide Production Capacity of Bromine: 2019
  • Bromine Concentration in Grams/Liter for Various Resources
  • Long-term Outlook for Global Bromine Market Remains Positive
  • Flame Retardants: The Primary End-Use Market for Bromine
  • Eco-Friendly Polymeric Flame Retardants to Drive Future Growth of BFRs Market
  • Increasing Activity in the Oil & Gas Sector Bodes Well for Brominated Drilling Fluids
  • World Crude Oil Reserves by Country (2018): Breakdown of Oil Reserves (in Thousand Million Barrels) for Canada, Iran, Iraq, Kuwait, Nigeria, Russia, Saudi Arabia, UAE, USA, Venezuela and Others
  • World Oil Production by Country (2014-2018): Breakdown of Crude Production (in 1,000 Barrels per day) for Brazil, China, Iran, Iraq, Kuwait, Russia, Saudi Arabia, UAE, USA, Venezuela and Others
  • Global Oil & Gas Demand (in Million Tons of Oil Equivalent): 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, and 2018
  • Asia-Pacific: The Largest & Fastest Growing Regional Market
  • China Plays Pivotal Role in Asia-Pacific’s Predominance
  • Contribution of Developed Regions Remains Robust
  • High Demand for Organobromine Boosts Market Prospects
  • Market Concerns
  • Restriction on Bromine across Various Countries
  • Competitive Scenario
  • Bromine - Global Key Competitors Percentage Market Share in 2022 (E)
  • ICL-Industrial Product’s Dominance in the Global Bromine Market
  • ICL to Expand Bromine Products Production Capacity to Meet Growing Asian Demand
  • Recent Bromine Product Launches from the Israeli Company ICL
  • Bromine Reserves & Production Statistics
  • Global Bromine Reserves by Country (Thousand Metric Tons)
  • Leading Bromine Producing Countries in the World (2018 & 2019E): Breakdown of Annual Production (in Metric Tons) for China, India, Israel, Japan, Jordan, and Ukraine
  • Elemental Bromine Production in China Reeling Under Tightening Regulations - Industry Staring at a Situation of Continuous Price Rise
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

  • Albemarle Corporation (USA)
  • Arab Potash Company (Jordan)
  • Chemada Fine Chemicals Company Ltd. (Israel)
  • Gulf Resources, Inc. (China)
  • Hindustan Salts Limited (India)
  • Honeywell International, Inc. (USA)
  • Israel Chemicals Limited (ICL) (Israel)
  • ICL-IP America, Inc. (USA)
  • Jordan Bromine Company Ltd. (Jordan)
  • LANXESS AG (Germany)
  • MORRE-TEC Industries, Inc. (USA)
  • Oceanchem Group (China)
  • Perekop Bromine (Ukraine)
  • Shouguang Luyuan Salt Chemical Co. Ltd (China)
  • Solaris ChemTech Industries Ltd. (India)
  • Tata Chemicals Ltd. (India)
  • Tetra technologies, Inc. (USA)
  • Tosoh Corporation (Japan)

3. MARKET TRENDS & DRIVERS

  • New Applications to Play Key Role in Future Growth
  • Increasing Drilling Operations Create Strong Demand for Clear Brine Fluids
  • Bromine Compounds Assume Critical Importance in Water Treatment Applications
  • End-Use Application Areas in Industrial Water Treatment Sector and Role of Bromine
  • Increasing Usage in Mercury Emission Reduction: A Strong Growth Driver
  • Brominated Mercury Oxidation to Reduce Mercury Emission in Power Plants in Europe - An Offering from Andritz
  • Effectiveness of Calcium Bromide in Reducing Mercury Emission
  • Mercury-Reduction Capability of Select APC Systems
  • Bromine-based Flow Batteries for Grid Energy Storage Systems
  • Key Advantages of Large Scale Electrochemical Energy Storage Technologies
  • Energy Storage Technologies: Key Features Comparison for NaS Battery, Lithium-ion Battery, and Flow Battery Technology
  • Novel Opportunities through R&D of Grid Electricity Storage Batteries
  • Stringent Regulations Restricting Flame Retardants - End-user Industries Seek Alternatives
  • Brominated Organic Intermediates Aid Market Expansion
  • Rubber Industry Enhances Prospects of Brominated Organic Intermediates
  • Growing Use Case of Bromobutyl Rubber
  • Bromine Gains Traction in Pharmaceutical Compounds & Catalysts
  • Brominated Pesticides Seek to Foray Agricultural Sector
  • Bromine Levels Increasing in Recycled Plastics in Europe - A Cause for Concern
  • Alternatives to Methyl Bromide - Need of the Hour

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Bromine Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Market Overview
  • Regulations for use of Flame Retardants in Consumer Products in the United States
  • Ban of Brominated Flame Retardants in US States
  • Diverse Applications of Bromine Maintain Market Momentum, Post Covid-19

CANADA

JAPAN

  • Bromine Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • Bromine Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Impact of Climatic Conditions & Governmental Policies
  • International Suppliers to Escalate Bromine Prices
  • Shrinking Domestic Supply to Push up Bromine Prices
  • Prices of Bromine in China

EUROPE

  • Bromine Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Demand to Emerge from Automotive, Pharma and Oil & Natural Gas Sectors
  • EU to Place Bans on Exports of a few BFRs
  • Ban on Use of Bromine in Various Sectors Hamper Growth
  • Amendments to the POPS Regulation in EU Restrict Use of Bromine-based Flame Retardants

FRANCE

  • Bromine Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Bromine Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Bromine Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Bromine Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)

AUSTRALIA

  • Bromine Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)

INDIA

  • Bromine Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)

SOUTH KOREA


REST OF ASIA-PACIFIC

LATIN AMERICA

  • Bromine Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA

MIDDLE EAST

  • Bromine Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
  • Jordan
  • Israel

IRAN


ISRAEL


SAUDI ARABIA


UNITED ARAB EMIRATES


REST OF MIDDLE EAST

AFRICA

  • Bromine Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 26
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Albemarle Corporation
  • Arab Potash Company
  • Chemada Fine Chemicals Company Ltd.
  • Gulf Resources, Inc.
  • Hindustan Salts Limited
  • Honeywell International, Inc.
  • ICL-IP America, Inc.
  • Israel Chemicals Limited (ICL)
  • Jordan Bromine Company Ltd.
  • LANXESS AG
  • MORRE-TEC Industries, Inc.
  • Oceanchem Group
  • Perekop Bromine
  • Shouguang Luyuan Salt Chemical Co. Ltd
  • Solaris ChemTech Industries Ltd.
  • Tata Chemicals Ltd.
  • Tetra technologies, Inc.
  • Tosoh Corporation
Note: Product cover images may vary from those shown