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Bromine Market Report
Bromine Market Growth, Size, Share, Trend, Forecast, & Industry Analysis: 2022-2028
"The global bromine market is expected to grow from USD 3.46 billion in 2021 to USD 4.71 billion by 2028 at a CAGR of 4.4% during the forecast period of 2022-2028."
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Bromine is a colorless, soluble, crystalline mineral halide salt extracted from brine pools and made commercially available. It is a naturally occurring element which is present in seas, lakes, and underground wells, the Dead Sea being the primary source. It is a highly volatile and corrosive chemical element and possesses the qualities of both iodine and chlorine. At room temperature, it is a fuming red-brown liquid that readily evaporates forming metals at extreme pressures. Bromine exists in different types such as organobromine compounds, hydrogen bromide, bromine fluids, and others.
The primary factors behind the development of the Bromine Market include the expanding use of bromine-based biocides as well as bromine itself in the oil and gas sector, the growing demand from the textiles, chemicals, and pharmaceutical end-use industries, regulations mandating bromine-based fire-retardant in buildings, and technological advancements associated with bromine extraction, processing, and application Political events, including regulatory arbitrage as well as disruptive causes of transportation and supply, tend to influence the market. This contributes to the jet fuel segment. International bromine market growth is driven by a collective of these factors.
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"Organobromine segment accounted for the largest market share."
Based on the derivative type, the market is segmented as organobromine, clear brine fluids, and hydrogen bromide. Organobromine is widely used in the manufacturing of brominated flame retardants, pesticides, fumigants, and biocides for water treatment, making it the largest segment of the market in 2021, and it is expected to remain dominant during the forecast period. Recent initiatives are being taken by major players such as Albemarle and Israel Chemicals Ltd. to develop and market polymeric substitutes to hexabromocyclododecane (HBCD) flame retardants, due to toxicity concerns.
"The flame retardants segment accounted for the largest market share."
Based on the application type, the market is segmented into flame retardants, water treatment, mercury emission control, oil & gas drilling, HBR flow batteries, PTA synthesis, pesticides, plasma etching, pharmaceuticals, and others. The flame retardants segment dominates the market, as the demand for bromine compounds as flame retardants has significantly increased due to their extensive use in domestic and industrial applications. Despite increasing regulations on some of the bromine-based flame retardants, the segment still dominates the market, due to its effective fire controlling properties. A few examples of flame-retardant chemicals that are made using bromine are polybrominated diphenyl ether, polybrominated biphenyl, decabromodiphenyl ether, hexabromocyclododecane, and tetrabromobisphenol.
"Asia-Pacific accounted for the largest market share."
In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market for bromine during the forecast period, with China, Japan, and India being the major countries with lucrative growth opportunities. One of the major drivers of the Asia-Pacific’s bromine market is the growing automotive and construction industries in the region and their increasing consumption of bromine. China is expected to drive the region’s market due to its increased dependence on imports to meet its domestic requirements, post the ban of bromine and its related compounds in the country. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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Some of the major players in the bromine market are:
Note: The above list does not necessarily include all the top players in the market.
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This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.
What deliverables will you get in this report?
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Key questions this report answers |
Relevant contents in the report |
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How big is the sales opportunity? |
In-depth analysis of the Bromine Market |
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How lucrative is the future? |
Market forecast and trend data and emerging trends |
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Which regions offer the best sales opportunities? |
Global, regional and country level historical data and forecasts |
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Which are the most attractive market segments? |
Market segment analysis and forecast |
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Which are the top players and their market positioning? |
Competitive landscape analysis, Market share analysis |
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How complex is the business environment? |
Porter’s five forces analysis, PEST analysis, Life cycle analysis |
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What are the factors affecting the market? |
Drivers & challenges |
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Will I get the information on my specific requirement? |
10% free customization |
The bromine market is segmented into the following categories:
By Derivative Type:
By Application Type:
By Region:
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
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Report: Features |
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Market Segmentation |
3 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
17 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
10 |
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s bromine market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com
Bromine is a colourless, soluble, crystalline mineral halide salt extracted from brine pools and made commercially available. It is a naturally occurring element which is present in seas, lakes, and underground wells, dead sea being the primary source. It is a highly volatile and corrosive chemical element and possesses the qualities of both iodine and chlorine. At room temperature, it is a fuming red brown liquid which readily evaporates forming metals at extreme pressures. Bromine exists in different types such as organobromine compounds, hydrogen bromide, bromine fluids, and others.
The bromine market size is expected to reach USD 4.71 billion by 2028.
Israel Chemicals Limited, Albemarle Corporation, LANXESS Corporation, Tosoh Corporation, Tata Chemicals Limited, Gulf Resources Inc., TETRA Technologies, Inc., Hindustan Salts Limited, Honeywell International, and Perekop Bromine are among the key players in the market.
Asia-Pacific is expected to remain the largest market for bromine during the next five years.
The bromine market is expected to witness impressive growth of 4.4% CAGR during 2022-2028.
The major factor driving the growth of the bromine market is the growing demand for bromine in flame retardants, mercury emission control, water treatment, and oil & gas drilling applications.
The flame retardants segment dominates the market, as the demand for bromine compounds as flame retardants has significantly increased due to their extensive use in domestic and industrial applications.
Distributors, suppliers, manufacturers, logistics organizations, and government bodies.
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