Global Bromine Market (2021 to 2026) - Increasing Use of Hydrogen Bromide in Flow Batteries Presents Opportunities
DUBLIN, Nov. 10, 2021 /PRNewswire/ -- The "Bromine Market by Derivative (Organobromine, Clear Brine Fluids, Hydrogen Bromide), Application (Flame Retardants, Oil & Gas Drilling, PTA Synthesis, Water Treatment& Biocides, HBR Flow Batteries) & Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The bromine market is projected to grow from USD 3.3 billion in 2021 to USD 4.1 billion by 2026, at a CAGR of 4.5% from 2021 to 2026.
The increasing demand for bromine in flame retardants, mercury emission control, water treatment & biocides, oil & gas drilling and PTA synthesis is expected to drive the bromine market.
The flame retardant application segment is projected to grow at the highest CAGR during the forecast period.
Based on the application, the flame retardant application segment is projected to grow at the highest CARG during the forecast period. Brominated flame retardants (BFRs) are bromine containing compounds that are added to materials to inhibit or reduce combustion. BFRs are more widely used than other commercialized chemical flame retardants. Polybrominated Diphenyl Ethers (PBDEs), Polybrominated Biphenyl (PBB), and Brominated Cyclo-hydrocarbons are some of the examples of BFRs. The growing demand from electronics and automotive industries (due to stringent fire safety regulations) and the expanding shipbuilding industries are driving the market for flame retardants across the globe.
The clear brine fluids derivative segment is projected to grow at the highest CAGR during the forecast period.
Based on derivative, the clear brine fluids segments is projected to grow at the highest CAGR during the forecast period. Clear brine fluid is a dense solution of calcium bromide (CaBr2), sodium bromide (NaBr), and zinc bromide (ZnBr2) in saltwater. It is mainly used in penetrating bore-well for drilling oil and natural gas. Calcium bromide and zinc bromide brines are used in shale inhibition and drilling salt formations. Brine fluids are used in refrigeration installations for the transportation of thermal energy. The rapidly growing demand for clear brine fluids in regions like Asia Pacific and North America can be attributed to the increasing shale gas recovery operations in China & US which accounts for significant shale gas reserves. This is expected to fuel the drilling & exploration activities in these region, thus fueling the growth of the bromine.
Asia Pacific is projected to grow the highest CAGR in the bromine market during the forecast period.
Asia Pacific is projected to grow at the highest CAGR in the bromine market from 2021 to 2026. The bromine market in Asia Pacific has witnessed growth in the last few years, owing to the growing economies of the countries and increasing consumption of bromine in major industries, such as electronics, oil & gas, agriculture, automotive, and construction. Substantial development in infrastructure and increasing demand for flame retardants in automobile and construction & insulation is expected to drive the bromine market in this region. Southeast Asia, including Indonesia, Malaysia, Thailand, and Vietnam, is also a rapidly growing market of bromine. The demand for bromine in brominated flame retardants has been increasing since the past few years outpacing the supply of bromine.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Global Bromine Market
4.2 Bromine Market, by Derivative
4.3 APAC Bromine Market, by Application and Country
4.4 Bromine Market: Major Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Use of Bromine Compounds in Mercury Emission Mitigation
5.2.1.2 Increasing Demand for Flame Retardants in Electronics, Consumer Goods, and Textile Industries
5.2.1.3 Consumption of Bromine and Its Derivatives in Diverse Applications
5.2.1.4 Increased Use of Bromine as a Disinfectant due to the COVID-19 Pandemic
5.2.2 Restraints
5.2.2.1 Toxicological Effects of Brominated Compounds
5.2.2.2 Emergence of Non-Halogenated Flame Retardants
5.2.3 Opportunities
5.2.3.1 Recycling of Bromine
5.2.3.2 Increasing Use of Hydrogen Bromide in Flow Batteries
5.2.4 Challenges
5.2.4.1 Significant Fluctuations in Oil & Gas Prices due to the COVID-19 Pandemic
5.3 Porter's Five Forces Analysis
5.3.1 Bargaining Power of Suppliers
5.3.2 Threat of New Entrants
5.3.3 Threat of Substitutes
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Rivalry
6 Industry Trends
6.1 Launch Strategies for Different Product Volumes with an Assessment of the Possible Market Reaction
6.1.1 Launch Strategies for Different Product Volumes of Bromine
6.1.2 Market Reaction to Disruption in Bromine Supply-Demand Equilibrium
6.1.2.1 Bromine Oversupply Scenario: Excess Production of Bromine May Result in a Decline in Prices
6.1.2.2 Bromine Supply-Crunch Scenario: Facility Closures in China Caused Price Rise in Elemental Bromine in 2018
6.1.2.3 Bromine Supply-Crunch Scenario: COVID-19 Pandemic Causes Bromine Supply Crunch Leading to Price Volatility in 2020
6.2 Brominated Flame Retardants: An Overview
6.2.1 Introduction
6.2.2 Brominated Flame Retardants
6.3 Value Chain Analysis
6.3.1 Prominent Companies
6.3.2 Small & Medium-Sized Enterprises
6.4 Trends/Disruptions Impacting Customer's Business
6.5 Ecosystem for Bromine Market
6.6 Patent Analysis
6.6.1 Introduction
6.6.2 Document Type
6.6.3 Insight
6.6.4 Jurisdiction Analysis
6.6.5 Top Applicants and Owners
6.7 Technology Analysis
6.8 Average Selling Price Trends
6.9 Regulatory Landscape
6.10 COVID-19 Impact Analysis
6.10.1 COVID-19 Health Assessment
6.10.2 COVID-19 Impact on the Bromine Market
7 Bromine Market, by Derivative
7.1 Introduction
7.2 Organobromine
7.2.1 Organobromine Derivative Segment Accounted for the Largest Market Share
7.2.1.1 COVID-19 Impact on the Organobromine Segment
7.3 Clear Brine Fluids
7.3.1 Clear Brine Fluids Projected to be the Fastest-Growing Derivative Segment in the Global Bromine Market
7.3.1.1 COVID-19 Impact on Clear Brine Fluids
7.4 Hydrogen Bromide (Hbr)
7.4.1 Growth in the Chemical, Plastics, and Pharmaceutical Industries is Expected to Drive the Hbr Derivative Segment
7.4.1.1 COVID-19 Impact on Hydrogen Bromide
8 Bromine Market, by Application
8.1 Introduction
8.2 Flame Retardants
8.2.1 Flame Retardants is the Largest Application Segment of the Bromine Market
8.2.1.1 COVID-19 Impact on Flame Retardants
8.3 Water Treatment & Biocides
8.3.1 Water Treatment is the Fourth-Largest Application Segment in the Global Bromine Market
8.3.1.1 COVID-19 Impact on Water Treatment & Biocides
8.4 Mercury Emission Control
8.4.1 Mercury Emission Control to be One of the Fastest-Growing Application Segments in the Bromine Market
8.4.1.1 COVID-19 Impact on Mercury Emission Control
8.5 Oil & Gas Drilling
8.5.1 Oil & Gas Drilling Accounted for the Second-Largest Share in the Global Bromine Market
8.5.1.1 COVID-19 Impact on Oil & Gas Drilling
8.6 Hbr Flow Batteries
8.6.1 Growing Demand in Asian Countries, Such as China and Japan, to Drive the Segment
8.6.1.1 COVID-19 Impact on Hbr Flow Batteries
8.7 Pta Synthesis
8.7.1 Pta Synthesis Was the Third-Largest Application Segment of the Global Bromine Market
8.7.1.1 COVID-19 Impact on Pta Synthesis
8.8 Pesticides
8.8.1 Growing Demand from Countries Such as China and India to Drive the Market for Bromine in the Pesticides Application
8.8.1.1 COVID-19 Impact on Pesticides
8.9 Plasma Etching
8.9.1 Plasma Etching is Among the Fastest-Growing Application Segments in the Global Bromine Market
8.9.1.1 COVID-19 Impact on Plasma Etching
8.10 Pharmaceuticals
8.10.1 High Demand for Chemical Compounds Manufacturing and Drug Formulations Drives the Market
8.10.1.1 COVID-19 Impact on Pharmaceuticals
8.11 Butyl Rubber
8.11.1 Favorable Chemical and Physical Properties are Increasing the Usage of Bromine in Butyl Rubber Production
8.11.1.1 COVID-19 Impact on Butyl Rubber
8.12 Others
8.12.1 COVID-19 Impact on Other Applications
9 Bromine Market, by Region
10 Competitive Landscape
10.1 Overview
10.2 Key Player Strategies
10.3 Revenue Analysis
10.3.1 Revenue Analysis of Top Players in the Bromine Market
10.4 Market Share Analysis: Bromine Market (2020)
10.5 Competitive Landscape Mapping, 2020
10.5.1 Star
10.5.2 Emerging Leaders
10.5.3 Pervasive
10.5.4 Participants
10.6 Strength of Product Portfolio
10.7 Business Strategy Excellence
10.8 SME Matrix, 2020
10.8.1 Progressive Companies
10.8.2 Dynamic Companies
10.8.3 Responsive Companies
10.8.4 Starting Blocks
10.9 Key Market Developments
11 Company Profiles
11.1 Key Players
11.1.1 Icl Group Limited
11.1.2 Albemarle Corporation
11.1.3 Lanxess Ag
11.1.4 Tosoh Corporation
11.1.5 Gulf Resources Inc.
11.1.6 Tetra Technologies, Inc.
11.1.7 Tata Chemicals Limited
11.1.8 Hindustan Salts Limited
11.1.9 Honeywell International Inc.
11.1.10 Perekop Bromine
11.1.11 Satyesh Brinechem Pvt. Ltd.
11.2 Startup/ SME Players
11.2.1 Solaris Chemtech Industries Ltd.
11.2.2 Aquachina Chemical (Wuhan) Co., Ltd.
11.2.3 Morre-Tec Industries Inc.
11.2.4 Shandong Yuyuan Group Co., Ltd.
11.2.5 Shandong Haiwang Chemical Co., Ltd.
11.2.6 Shandong Haihua Group Co., Ltd.
11.2.7 Shandong Ocean Chemical Co., Ltd.
11.2.8 Shandong Weifang Longwei Industrial Co., Ltd.
11.2.9 Shandong Runke Chemical Engineering Co., Ltd.
11.2.10 Dhruv Chem Industries
11.2.11 Shandong Lubei Chemical Co., Ltd.
11.2.12 Shandong Dadi Salt Chemical Group Co., Ltd.
11.2.13 Shandong Haoyuan Group
11.2.14 Chemcon Speciality Chemicals Ltd.
11.2.15 Sangfroid Chemicals Pvt. Ltd.
12 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/ge5qhr
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article