Exploring the bromine derivatives industry Future Market Insights’ Latest Study Encompasses Global Industry Analysis from 2014 to 2021 and Opportunity Assessment for 2022-2029.
The water treatment, fire safety, and pharmaceutical industries all make extensive use of the highly efficient compounds known as bromine derivatives. Because of their effective oxidation and disinfection properties, bromine compounds are used in many applications that benefit both the environment and society, including flame retardant materials, medicinal pharmaceuticals, and clean drinking water.
According to the report’s findings, the growing use of bromine compounds in a variety of applications, including flame retardants, PTA synthesis, oil and gas drilling, and others, is expected to drive significant expansion in the global market for industrial bromine derivatives over the course of the projected period.
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The market for industrial bromine derivatives was estimated to be worth approximately US$ 4 billion in 2021, and it is anticipated to grow at a compound annual growth rate (CAGR) of approximately 3.9% between 2022 and 2029. The rise of the chemical, oil and gas, and other end-use sectors for bromine-based chemicals is a major factor in this growth.
The demand for bromine derivatives has expanded as a result of significant advancements in many industrial verticals, particularly in emerging nations where chemicals and construction are prevalent. According to the FMI survey, firms are utilizing the R&D and innovation area in an effort to conform to the changing environmental rules.
Top Key Players in the Global Industry
- Israel Chemicals Limited,
- Tosoh Corporation,
- Lanxess AG,
- Tata Chemicals Limited,
- Albemarle Corporation,
- Tetra Technologies Inc.,
- Mil-Spec Industries Corporation,
- Jordan Bromine Company,
- Hindustan Salts Limited,
- Neogen Chemicals Limited,
- DSL Chemicals (Shanghai) Co. Ltd.,
- Solaris ChemTech Industries Limited
The global bromine derivatives market is considerably dominated by some key players holding major shares of the market. Tier-1 players are collaborating with regional/local companies to increase their bromine-based product portfolio, thus, gaining a competitive edge over their peers.
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Alternative Usage of Bromine Compounds in Various Industrial Applications
The global bromine derivatives market has been segmented based on derivative, application, end-user, and regions such as North America, Latin America, Europe, South Asia, East Asia, Middle East & Africa, and Oceania.
- Consumption of bromine and its derivatives in Asia and BRIC nations is expected to grow steadily due to the underlying growth in end-use industries, such as dye manufacturing, pharmaceuticals, and specialty chemicals, and the shift in the production of consumer electronics from the U.S. and Europe to Asia. Factors mentioned above are expected to position Asia (South & East) as a major lucrative market for players in the bromine derivatives market.
- Bromine derivatives are used in almost all end-use industries, such as pharmaceuticals, automotive, electronics, and others. Bromine compounds, such as methyl bromide, are mostly used as pesticides in the agriculture sector, owing to its highly active nature even at low temperatures. Over the past few years, bromine is used as a biocide and disinfectant in drinking and wastewater treatment, and swimming pools, respectively.
- With developing oil drilling technologies, the use of bromine-based drilling solutions, also called brine fluids, are gradually spreading across the U.S., U.K., South East Asia, Africa, Middle East, and others. This is estimated to pave way for the growth of the global bromine derivatives market.
Key Segmentation
By Derivatives :
- Sodium Bromide
- Calcium Bromide
- Zinc Bromide
- TBBPA
- DPDPE
- Others
By Application :
- Flame Retardants
- Organic Intermediates
- Oil & Gas Drilling
- Biocides
- PTA Synthesis
- Others
By End Use :
- Chemical
- Construction
- Oil & Gas
- Pharmaceuticals
- Electronics
- Others
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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