Global Bromine Market Study 2019-2024: Breakdown by Derivative, Application and Geography

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Dec 11, 2019, 10:00 ET

DUBLIN, Dec. 11, 2019 /PRNewswire/ -- The "Bromine Market by Derivative (Organobromine, Clear Brine Fluids, Hydrogen Bromide), Application (Flame Retardants, Water Treatment, HBr Flow Batteries, Mercury Emission Control, PTa Synthesis), & Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The bromine market was valued at USD 3.1 billion in 2018 and is projected to reach USD 4.4 billion by 2024, at a CAGR of 5.8% between 2019 and 2024. The increasing demand for bromine in flame retardants, mercury emission control, water treatment, and oil & gas drilling is expected to drive the bromine market.

Israel Chemicals Limited (Israel), Albemarle Corporation (US), LANXESS Corporation (Germany), Tosoh Corporation (Japan), Tata Chemicals Limited (India), Gulf Resources Inc. (China), TETRA Technologies, Inc. (US), Hindustan Salts Limited (India), Honeywell International Inc. (US), and Perekop Bromine (Republic of Crimea) are some of the leading players operating in the bromine market. These players have adopted the strategies of expansion, new product development, partnership, and collaboration to enhance their position in the market.

In line with the rising demand for bromine, in September 2019, Israel Chemicals Ltd. announced that it plans to expand its bromine compounds capacity to approximately 25,000 metric tons annually. The company will invest approximately USD 50 million for this expansion and is expecting a return of USD 110 million. This expansion comes amidst the company's strategic agreements signed with many customers from Asia.

LANXESS Corporation, in July 2019, announced the completion of its plant expansion of Emerald Innovation 3000. The debottlenecking project increases the sustainable output from 10,000 to 14,000 MT per year. Emerald Innovation 3000 is now being used as a flame retardant for expanded (EPS) and extruded (XPS) polystyrene instead of hexabromocyclododecane (HBCD), which has been banned. This product is manufactured via the bromination of an alternating polystyrene butadiene copolymer.

LANXESS Corporation, in December 2018, announced its plan to invest EUR 200 million over the next three years, i.e., till 2021, to strengthen its global asset base for flame retardant additives. The company has significantly expanded its market position for flame retardant additives after integrating the former Chemtura businesses with brominated flame-retardant additives, bromine, and bromine derivatives. Due to their high effectiveness as flame retardants, these substances are used in the construction industry. They also complement the already existing LANXESS business of phosphorus-based flame-retardant additives.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Bromine Market
4.2 Bromine Market, By Derivative
4.3 Bromine Market in Asia Pacific, 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 in Mercury Emission Mitigation
5.2.1.2 Increasing Demand for Flame Retardants Due to Stringent Fire Safety Framework
5.2.1.3 Extensive Consumption of Bromine in Diverse Applications
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
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
5.4 Macroeconomic Overview and Trends
5.4.1 Introduction
5.4.2 Trends and Forecast of GDP
5.4.3 Trends of Oil & Natural Gas Prices

6 Bromine Market, By Derivative
6.1 Introduction
6.2 Organobromine
6.2.1 Organobromine Derivative Segment Accounted for the Largest Market Share
6.3 Clear Brine Fluids
6.3.1 Clear Brine Fluids Projected to Be the Fastest-Growing Derivative Segment in the Global Bromine Market
6.4 Hydrogen Bromide (HBR)
6.4.1 Growth in the Chemical, Plastics, and Pharmaceutical Industries is Expected to Drive the HBR Derivative Segment

7 Bromine Market, By Application
7.1 Introduction
7.2 Flame Retardants
7.2.1 Flame Retardants is the Largest Application Segment of the Bromine Market
7.3 Water Treatment
7.3.1 Water Treatment is the Fourth-Largest Application Segment in the Global Bromine Market
7.4 Mercury Emission Control
7.4.1 Mercury Emission Control to Be One of the Fastest-Growing Application Segments in the Bromine Market
7.5 Oil & Gas Drilling
7.5.1 Oil & Gas Drilling Accounted for the Second-Largest Share in the Global Bromine Market
7.6 HBR Flow Batteries
7.6.1 Growing Demand for HBR Flow Batteries in Asian Countries, Such as China & Japan, is Expected to Drive the HBR Application Segment
7.7 Pta Synthesis
7.7.1 Pta Synthesis Was the Third-Largest Application Segment of the Global Bromine Market
7.8 Pesticides
7.8.1 Growing Demand From Countries Such as China and India is Expected to Drive the Market for Bromine in the Pesticides Application Segment
7.9 Plasma Etching
7.9.1 Plasma Etching is Among the Fastest-Growing Application Segments in the Global Bromine Market
7.1 Pharmaceuticals
7.10.1 High Demand From Pharmaceutical Industry, for Chemical Compounds Manufacturing and Drug Formulations, Drives the Market for Bromine in the Pharmaceuticals Application Segment
7.11 Others

8 Bromine Market, By Region
8.1 Introduction
8.2 Asia Pacific
8.2.1 China
8.2.1.1 China Accounted for the Largest Share in the Global Bromine Market
8.2.2 Japan
8.2.2.1 Japan Accounted for the Second-Largest Share in the Asia Pacific Bromine Market
8.2.3 India
8.2.3.1 Growing Demand From Flame Retardants, Pesticides, and Water Treatment Application Segments Fuels the Growth of the Market for Bromine in India
8.2.4 South Korea
8.2.4.1 South Korea Accounted for the Fourth-Largest Share in the Asia Pacific Bromine Market
8.2.5 Taiwan
8.2.5.1 Growing Demand From the Flame Retardants Application Segment has Fueled the Growth of the Market for Bromine in Taiwan
8.2.6 Rest of Asia Pacific
8.3 North America
8.3.1 US
8.3.1.1 US Accounted for the Largest Share in the North American Bromine Market
8.3.2 Canada
8.3.2.1 Canada Accounted for the Second-Largest Share in the North American Bromine Market
8.3.3 Mexico
8.3.3.1 Growing Demand From Flame Retardants Application Segment Fuels the Growth of the Market for Bromine in Mexico
8.4 Western Europe
8.4.1 Germany
8.4.1.1 Germany Accounted for the Largest Share in the Western European Bromine Market
8.4.2 France
8.4.2.1 France Accounted for the Third-Largest Share in the Western European Bromine Market
8.4.3 UK
8.4.3.1 UK Accounted for the Second-Largest Share in the Western European Bromine Market
8.4.4 Rest of Western Europe
8.5 Central & Eastern Europe
8.5.1 Russia
8.5.1.1 Russia Accounted for the Largest Share in the Central and Eastern European Bromine Market
8.5.2 Turkey
8.5.2.1 Growing Demand From Flame Retardants Application Segment Fuels Growth of the Market for Bromine in Turkey
8.5.3 Rest of Central & Eastern Europe
8.6 Middle East & Africa
8.7 South America
8.7.1 Brazil
8.7.1.1 Brazil Accounted for the Largest Share in the South America Bromine Market
8.7.2 Argentina
8.7.2.1 Argentina Accounted for the Second-Largest Share in the South America Bromine Market
8.7.3 Rest of South America

9 Competitive Landscape
9.1 Introduction
9.2 Competitive Leadership Mapping
9.2.1 Dynamic Differentiators
9.2.2 Visionary Leaders
9.2.3 Innovators
9.2.4 Emerging Companies
9.3 Competitive Benchmarking
9.3.1 Strength of Product Portfolio (25 Players)
9.3.2 Business Strategy Excellence (25 Players)
9.4 Market Ranking of Key Players
9.4.1 LANXESS Corporation (US)
9.4.2 Israel Chemicals Limited (Israel)
9.4.3 Albemarle Corporation (US)
9.4.4 Tosoh Corporation (Japan)
9.4.5 Tata Chemicals Limited (India)
9.4.6 TETRA Technologies Inc. (China)

10 Company Profiles
10.1 Israel Chemicals Ltd.
10.2 Albemarle Corporation
10.3 LANXESS Corporation
10.4 Tosoh Corporation
10.5 TETRA Technologies, Inc.
10.6 Gulf Resources Inc.
10.7 Tata Chemicals Limited
10.8 Hindustan Salts Limited
10.9 Honeywell International Inc.
10.10 Perekop Bromine
10.11 Additional Company Profiles
10.11.1 Sanofi Sa
10.11.2 Aquachina Chemicals
10.11.3 Morre-Tec Industries Inc.
10.11.4 Solaris Chemtech
10.11.5 Agrocel Industries Limited
10.11.6 Shandong Yuyuan Group Co., Ltd.
10.11.7 Shandong Haiwang Chemical Co., Ltd.
10.11.8 Shandong Haihua Group Co., Ltd.
10.11.9 Shandong Ocean Chemical Co., Ltd.
10.11.10 Shandong Weifang Longwei Industrial Co., Ltd.
10.11.11 Shandong Runke Chemical Engineering Co., Ltd.
10.11.12 Dhruv Chem Industries
10.11.13 Shandong Lubei Chemical Co., Ltd.
10.11.14 Shandong Dadi Salt Chemical Group Co., Ltd.
10.11.15 Shandong Haoyuan Group

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