NEW YORK, April 30, 2015 /PRNewswire/ -- The report covers important bromine North American markets. It further divides the market on the basis of applications, geography, and its derivatives. The market data has been provided with respect to volume (thousand tons) and value ($Million). The North American market value of Bromine was estimated to be $1193.5 million in 2014 and is projected to grow at a CAGR of about 10.8% from 2014 to 2019. The data mentioned in the report is based on the North American demand for Bromine.
This provides an idea of the current proceedings in the industry at the commercial level. The study provides the value chain analysis with respect to bromine raw materials, manufacturers, and end-users. The value chain describes key contributors to the materials market at different stages from product development to the end-use. It represents the top players that contribute to the North America Bromine industry.
The impact of different market factors, such as drivers, restraints, and opportunities has also been illustrated in the report. This helps understand key drivers such as stringent fire safety regulations and the growing demand of clear brine fluid in North America, along with restraints such as the declining use of Penta-BDE, Octa-BDE, and Deca-BDE and a decline in the demand for methyl bromide in North America. An economic slowdown in the U.S. also affected the economy of other developed countries that are of key importance for the commercial success of new materials and its end-user market.
The North America bromine market is also classified based on different applications. Important applications include flame retardants, biocides, oil & gas, medicinals, PTA synthesis, plasma etching, and others. The oil & gas, water treatment, electronics, and fine chemicals industries are expected to display rapid growth in future.
The key companies in this market are Albemarle (U.S), Israel Chemical Ltd. (Israel), Chemtura Corporation (U.S), Tetra Technologies (Texas), Jordan Bromine Company (Amman, Jordan), and others. These companies are consistently focusing on expanding their production capacity to achieve a competitive advantage and thereby serve the customers more effectively. Investments in the expansion of plant capacities, followed by acquisitions were the most preferred strategies by top players in 2013 and 2014 drive the demand for bromine. Their strategy to capture the market in developing economies includes expansions and agreements.
The U.S emerged to be the driving factor for this market, contributing to about 91% of the North American demand in terms of consumption in 2014. The U.S. is the largest consumer and producer of bromine in North America and is among the countries that has the largest reserve of bromine in the world. The demand for bromine in the U.S. is influenced by two major applications-flame retardants and brine fluids. Flame retardants are the biggest end-users of bromine in the U.S. Important emerging economies such as Canada, Mexico, etc., are further lined up for a brighter future in this market.
The report also presents a competitive landscape that covers different strategies and developments such as mergers & acquisitions, expansions, and agreements undertaken by leading bromine companies in the past few years. Furthermore, different bromine market participants have also been profiled in the report.
Scope of the report
The global bromine market has been covered in detail in this report. In order to provide a complete understanding, the current market demand and forecasts have also been included.
On the basis of derivatives:
- Brine Fluids
- Hydrobromic Acid
On the basis of applications:
- Flame Retardants
- Oil & Gases
- PTA synthesis
- Plasma Etching
Each application is described in detail in the report with volume and revenue forecasts for each a
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