NEW YORK, Aug. 14, 2017 /PRNewswire/ --
Growing use of bromine in mercury mitigation, in flame retardants and other diverse applications is driving the global bromine market
The global bromine market was USD 2.47 billion in 2016 and is projected to reach USD 3.96 billion by 2022, at a CAGR of 8.4% between 2017 and 2022. The market is witnessing growth due to the increasing consumption of bromine in mercury mitigation in coal fired power plants and escalating demand for flame retardants due to strict fire safety regulations. Extensive consumption of bromine in diverse applications ranging from plasma etching in semiconductor industries, and HBr flow batteries in the electronics and automotive industries is also an important factor driving the bromine market. Fluctuating oil & gas prices in the past years, emergence of non-halogenated flame retardants and toxicological effects of brominated compounds are the key factors restraining and challenging the growth of the global bromine market.
Clear brine fluids: The fastest-growing segment of the bromine market, by derivative
Clear brine fluids are estimated to be the fastest-growing derivatives during the forecast period (2017-2022). The rapid growth of the clear brine fluids segment is attributed to the growing demand for oil & gas drilling activities and workover operations. In the oil & gas industry, clear brine fluids are specially used to control formation pressure as well as lessen damage in oil reservoirs. Calcium bromide, a salt of bromine, which is part of clear brine fluids, is also used for mercury emission control at coal fired power plants. Thus, the growing consumption of clear brine fluids in the above mentioned applications drives their market globally.
Oil & gas drilling: The fastest-growing segment of the bromine market, by application
Oil & gas drilling is projected to be the fastest-growing application of the bromine during the forecast period. Extensive use of bromine salts such as calcium bromide, potassium bromide, sodium bromide, and zinc bromide as clear brine fluids for oil well drilling and hydraulic fracturing is expected to contribute to the rapid growth of the bromine market during the forecast period.
Asia Pacific: The fastest-growing market for bromine, by region
The Asia Pacific region is the fastest-growing market for bromine, in terms of both, value and volume during the forecast period. The growth of the bromine market in the Asia Pacific can be attributed to its rapidly increasing demand for Purified Terephthalic Acid (PTA) synthesis in polymer fabrication and for biocides in water treatment industries. The growing importance of clear brine fluids in the oil & gas industry and HBr flow battery applications are boosting bromine consumption across the region.
This study has been validated through primaries conducted with various industry experts globally. These primary sources have been divided into three categories, namely, by company, by designation, and by region.
- By Company Type: Tier 1 - 45%, Tier 2 - 22%, and Tier 3 - 33%
- By Designation: C Level - 50%, Director Level - 10%, and Others - 40%
- By Region: Europe - 33%, North America - 17%, Asia-Pacific - 17%, Middle East & Africa - 25%, and South America - 8%
The report also provides company profiles and competitive strategies adopted by major market players, such as Israel Chemicals Limited (Israel), Albemarle Corporation (US), Chemtura Corporation (US), Tosoh Corporation (Japan), Tata Chemicals Ltd (India), Gulf Resources Inc. (China), TETRA Technologies, Inc. (US), Hindustan Salts Limited (India), Honeywell International Inc. (US) and Perekop bromine (Republic of Crimea), among others.
The report covers the bromine market and its use across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments, such as derivatives and application. The report also includes an in-depth competitive analysis of the key market players along with their company profiles, dynamic differentiators, innovators, visionary leaders and emerging (DIVE) analysis, recent developments, and key growth strategies.
Reasons to buy this report:
From an insight perspective, this research report has focuses on various levels of analyses — industry analysis (industry trends), company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the bromine market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on bromine offered by the top players in the global bromine market
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the global bromine market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for bromine across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global bromine market
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the leading players in the global bromine market
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