The newly launched report by Stratview Research, titled ‘Bromine Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026’ has been bifurcated by Derivative Type (Organobromine, Clear Brine Fluids, and Hydrogen Bromide), by Application Type (Flame Retardants, Water Treatment, Mercury Emission Control, Oil & Gas Drilling, HBR Flow Batteries, Pta Synthesis, Pesticides, Plasma Etching, Pharmaceuticals, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
According to the report Bromine market is likely to witness an impressive CAGR of 5.8% during the forecast period. The major factor driving the market is the growing demand for bromine in flame retardants, mercury emission control, water treatment, and oil & gas drilling applications.
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Market Segmentation Analysis -
Based on the derivative type, the market is segmented as organobromine, clear brine fluids, and hydrogen bromide. Organobromine is widely used in the manufacturing of brominated flame retardants, pesticides, fumigants, and biocides for water treatment, making it the largest segment of the market in 2019, and it is expected to remain dominant during the forecast period. Recent initiatives are being taken by major players such as Albemarle and Israel Chemicals Ltd. to develop and market polymeric substitutes to hexabromocyclododecane (HBCD) flame retardants, due to toxicity concerns in the later.
Based on the application type, the market is segmented as flame retardants, water treatment, mercury emission control, oil & gas drilling, HBR flow batteries, Pta synthesis, pesticides, plasma etching, pharmaceuticals, and others. The flame retardants segment dominates the market, as the demand for bromine compounds as flame retardants has significantly increased due to their extensive use in domestic and industrial applications. Despite increasing regulations on some of the bromine-based flame retardants, the segment still dominates the market, due to its effective fire controlling properties. Few examples of flame-retardant chemicals that are made using bromine are polybrominated diphenyl ether, polybrominated biphenyl, decabromodiphenyl ether, hexabromocyclododecane, and tetrabromobisphenol.
Key Players
The following are the key players in the market-
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