Bromine Market Potential Growth, Demand and Analysis of Key Players- Research Forecasts to 2025
Bromine is deep-red oily liquid with sharp odor at room temperature. It is obtained naturally as organobromide compound or bromide salt, which is mainly found in salt lakes, inland seas, sea water, brine wells, rock, and earth’s crust. Bromine is majorly manufactured in the U.S. and Israel. It can be used as food additive in flour and some fruit-flavored soft drinks. Also, it is used in agricultural chemicals, dyestuffs, insecticides, pharmaceuticals, and water treatment plant. It is flame retardant and can control mercury emission. Utilization of bromine by various end-use industries is one of the major factor driving growth of the market. However, bromine is highly corrosive and it is harmful to skin, as it can cause irritation of eyes and throat. Bromine also leads to ozone depletion. Environmental and toxicological effects of bromine are the major factor restraining growth of the market. Market players offering non-halogenated flame retardants such as aluminum hydroxide is negatively affecting growth of the market.
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Bromine Market Taxonomy
On the basis of derivatives, the global bromine market is segmented into:Organobromides,Clear Brine Fluids,Hydrogen Bromide,Others,
On the basis of application, the global bromine market is segmented into:Flame retardants,Mercury Emission control,Oil and gas drilling,BHR flow batteries,Water treatment,PTA synthesis,Pesticides,Plasma Etching,Others
On the basis of end-use, the global bromine market is segmented into:Automotive,Pesticides,Pharmaceuticals,Cosmetics,Textile,Others
Increasing demand for organobromines due to its use as biocide and flame retardant by various end-use industries such as automotive, pharmaceuticals, and cosmetics is fueling growth of the market. Bromine is widely used as flame retardant, owing to stringent fire safety and infrastructure development. Clear brine fluids is mainly used in oil and gas drilling while hydrogen bromide is widely used in flow batteries.
Bromine Market Outlook
Asia Pacific is the fastest growing region in bromine market, owing to wide availability of raw materials such as underground brines present in China and Japan. Furthermore, cheap labor cost and easy availability of manufacturing facilities in India and China is another factor propelling growth of the bromine market in this region.
Stringent government regulation is a major factor hindering the growth of the bromine market in Europe. For instance, in 2016, European Union (EU) published Regulation 2016/293 prohibiting hexabromocyclododecane, which is a bromine containing flame retardant. It has applications such as filling bean bags, electrical appliances, packaging materials, textile coating additive, and upholstered furniture.
In U.S., stringent requirement by Environmental Protection Agency (EPA)-Mercury and Air Toxic Standards to maintain mercury levels is expected to increase demand for bromine, owing to its major utility in mercury emission control.
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In Middle East, Latin America, and Africa, increasing demand for bromine its applications in oil and gas drilling. Various investment plans such as around US$ 20 billion by Abu Dhabi National Company in UAE and around US$ 1.1 billion in Gulf of Mexico, Algeria and Ghana by Anadarko, which is a U.S-based petroleum company is expected to augment the growth of bromine market.
Key Players in the Global Bromine Market
The companies are adopting various organic and inorganic growth strategies to maintain leading position in market. For instance, Lanxess acquired Chemtura for further business development. Some of the key players operating in the global bromine market include Israel Chemicals Limited, Albemarle Corporation, Chemtura Corporation, Tosoh Corporation, Tata Chemicals Ltd, Gulf Resources Inc., TETRA Technologies, Inc., Hindustan Salts Limited, Honeywell International Inc., and Perekop bromine.
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