ALBANY, New York, August 2, 2017 /PRNewswire/ --
Transparency Market Research has published a new report titled "Bromine Market for Flame Retardants, Drilling Fluids, Biocides, Catalysts, Water Treatment, and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017-2025." According to the report, the global bromine market was valued at US$ 1,740.4 Mn in 2016 and is estimated to reach US$ 2,674.6 Mn by 2025, expanding at a CAGR of 5.0% between 2017 and 2025.
Bromine is a chemical element with symbol Br and atomic number 35. It is the third-lightest halogen and it exists in the form of fuming red-brown liquid at room temperature. The commercial source of bromine is brine pools. Major producers of bromine are Israel, the U.S., and China. The mass of bromine in oceans is about 0.0033 times to that of chlorine.
Bromine has applications in brominated flame retardants, as clear brine fluids in drilling fluids, water treatment, biocides among others. The major application of bromine is observed in flame retardants, followed by drilling fluids as clear brine fluids. Flame retardants are the key consumers of bromine, followed by drilling fluids. In terms of growth potential, water treatment and biocides segments are likely to lead the bromine market during the forecast period.
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The market for bromide-based technologies to remove mercury emission at coal-fired power plants is an area of potential growth for the industry. Utilizing bromide compounds for abatement of mercury emissions appears to be more cost-effective as compared to other materials, such as chlorine-, fluorine-, or iodine-based compounds. Mercury control regulations have yet to be confirmed; however, significant growth potential for bromine compounds exists if mercury reductions become mandatory.
Bromine is classified as a hazardous waste material under the CERCLA (Superfund) Act of 1980 and the Resource Conservation and Recovery Act (RCRA) of 1976, along with numerous state and local laws and regulations. Under these rules, bromine must be disposed of in a way that minimizes potential harm to humans and the environment.
Major application of bromine is in the manufacturing of BFRs for textiles and polymer. However, the market for BFRs has been declining over a decade due to various regulations and legislation that either seek compliance with limited BFR content or ban the product altogether. The declining usage of bromine in flame retardants is acting as a major restraint to the bromine market.
Bromine vapor is highly corrosive, and becomes more so in the presence of moisture due to the formation of acids. Therefore, in most cases, bromine must be kept dry during transportation and storage. Bromine is much heavier than an equivalent volume of water. Hence, handling and transportation systems must be designed and operated properly to reduce the risk of potentially hazardous imbalances and load shifting.
Major players in the bromine market include Israel Chemical Ltd. (ICL), Albemarle Corporation, Jordan Bromine Company Limited, and Gulf Resources Inc.
The global bromine market has been segmented as follows:
Bromine Market - Application Analysis
- Flame Retardants
- Drilling Fluids
- Water Treatment
Bromine Market - Regional Analysis
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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