The global Bromine market was stood around US$3 billion in 2020 and is expected to demonstrate the growth of 5% during the forecast period (2021-2027). Increasing usage of bromine-based products in lower the mercury emission, growing demand of flame retardants from large base of industries, increasing usage of bromine as a disinfectant, rising deepwater oil & gas activities, and global focus on water treatment industry are some of the key attributable factors for its growing demand.
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The global bromine market is growing on account of increasing focus on reducing the mercury emission from the environment. A global treaty was signed in United Nations “Minamata Convention” on mercury in order to reduce the mercury emission and taking other measures to control the supply and trade of mercury as well as mercury added products and manufacturing processes in which mercury is used. Bromine based products can reduce the mercury emissions from coal fired power plants and other industrial installations in excess of 90% therefore it is a crucial part of the solution to meeting the goals of the Minamata Convention. Furthermore, growing demand of bromine flame retardant from large number of industries like consumer appliances, electronics, and textile; large base of application areas, and increasing usage of bromine as a disinfection in the light of COVID-19 are some of the key factors which are driving the market of bromine.
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Global consumption of bromine and bromine compounds decreased in 2020. In the light of COVID-19 pandemic, consumer spending in the automotive, electronic, and construction industries decreased, as well demand for drilling fluids by the oil- and gas-well-drilling industries drops due to halted oil & gas activities. This decline in end use industries has affected the overall supply chain of the market including bromine and bromine-based compounds.
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· Based on derivatives, the market is categorized into hydrogen bromide, bromide salts, organobromine, and others. Among these, organobromine held the largest market share owing to large number of organobromine products such as ethylene dibromide, propylene bromide, vinyl bromide, and allyl bromide. These products are used in the variety of application areas including flame retardant, pesticides, fumigants, and biocides. Therefore, with growing market of agricultural chemicals, water treatment, paints & coatings, electrical & electronics, and textile, among others, consumption of organobromines would also increase.
· Based on application, the market is categorized into flame retardants, clear brine fluids, water treatment, catalyst, methyl bromide, and others. Increasing strict norms on fire related safety couple with growing end use industries, globally increases the demand of flame retardants. In addition, development of polymeric brominated flame retardant in place of hexabromocyclododecane flame retardant, which is toxic in nature, is increasing the demand of bromine-based flame retardants. For instance, in 2019, 1,291,500 fires resulted in 3,704 civilian deaths and 16,600 injuries in U.S. In addition, there were 48 on-duty firefighter deaths – representing the first year that the annual death toll fell below 50.
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For a better understanding of the market adoption of bromine, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), MEA (Saudi Arabia, UAE, and Rest of MEA), South America (Brazil, Argentina, and Rest of South America). Asia Pacific held the considerable market share owing to large base of end use industries in the regional countries like China, Japan, and India, among others. The region is the manufacturing hub of automotive, textile, consumer appliances, paints & coatings, and electrical & electronics owing to which large consumption of bromine as flame retardant. Further, bromine use as a catalyst in the production of telepathic acid (PTA) to manufacture polyester coatings resins for use in the formulation of general metal, appliance, automotive, industrial maintenance, and coil coatings. Some of the major players operating in the market include Gulf Resources Inc., LANXESS AG, Jordon Bromine Company Limited, Tetra Technologies Inc., Tosoh Corporation, Israel Chemicals Limited, Albemarle Corporation, Solaris Chemtech Industries Limited, Tata Chemicals Limited, and Hindustan Salts Limited.
Global Bromine Market Segmentation
Market Insight, by Derivative
· Hydrogen Bromide
· Bromide Salts
· Organobromine
· Others
Market Insight, by Application
· Flame Retardants
· Clear Brine Fluids
· Water Treatment
· Catalysts
· Methyl Bromide
· Others
Market Insight, by Region
· North America Bromine Market
o United States
o Canada
o Rest of North America
· Europe Bromine Market
o Germany
o United Kingdom
o France
o Spain
o Rest of Europe
· Asia-Pacific Bromine Market
o China
o Japan
o India
o Australia
o Rest of Asia-Pacific
· MEA Bromine Market
o Saudi Arabia
o UAE
o Rest of MEA
· South America Bromine Market
o Brazil
o Argentina
o Rest of South America
Top Company Profiles
· Gulf Resources Inc.
· LANXESS AG
· Jordon Bromine Company Limited
· Tetra Technologies Inc.
· Tosoh Corporation
· Israel Chemicals Limited
· Albemarle Corporation
· Solaris Chemtech Industries Limited
· Tata Chemicals Limited
· Hindustan Salts Limited