A comprehensive overview of the global Bromine market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Bromine market globally. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the global Bromine market at regional and country levels. 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).
Market Overview
Globally, more than 40% of electricity is generated using coal fired power plants which generates large amount of mercury emission. Therefore, to reduce the mercury emission from coal fired power plants, bromine is considered as an effective solution in the Minamata Convention. By using bromine in different stages of the combustion process to help capture mercury, emission can be reduced by 90%. This is one of the key factors which is driving the demand of bromine. Further, in oil & gas sector, bromine is used as a clear brine solution in deepwater production owing to its high density. Decline in the number of easily accessible oil & gas reservoirs as a result increasing focus of oil & gas companies in the deepwater reservoirs for the production, is increasing the demand of clear brine fluids. Further, increasing norms on safe fire practice, increases the demand of flame retardant from industries like brominated flame retardants. Further, in lieu of chlorine based flame retardants, demand of brominated flame retardants owing to toxic chlorinated gas associated with earlier one.
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COVID-19 Impact
COVID-19 had a negative impact the bromine market. The consumption of bromine and bromine compound decreased in 2020. Declining consumer spending in the automotive, electronics, and construction industries as well declining halted oil & gas activities affected the demand of flame retardants and clear brine fluids respectively.
Global Bromine market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By derivative, the market is primarily divided into:
- Hydrogen Bromide
- Bromide Salts
- Organobromine
- Others
Among these, organobromine held the largest share in the market owing to its large consumptions in the production of flame retardants such as polybrominated diphenyl ethers. Other usages include pesticides, fumigants, and biocides manufacturing. Polybrominated diphenyl ethers is commonly used in paints, plastics, foam furniture padding, textiles, rugs, curtains, televisions, building materials, airplanes, and automobiles.
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By application, the market is mainly categorized into:
- Flame Retardants
- Clear Brine Fluids
- Water Treatment
- Catalysts
- Methyl Bromide
- Others
Among these, flame retardant category held the largest market share in 2020 and it is expected to hold substantial market share during the forecast period owing to large and increasing demand of flame retardant from vast number of industries including paints & coatings, automotive, textile, consumer appliances, building materials, and electrical & electronics, among others.
Global Bromine Market Geographical Segmentation Includes:
- North America (United States, Canada, Rest of North America)
- Europe (Germany, UK, France, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, Rest of APAC)
- MEA (Saudi Arabia, UAE, Rest of MEA)
- South America (Brazil, Argentina, Rest of South America)
Based on the estimation, Asia Pacific held the dominating position in the market. The region has a vast manufacturing base of textile, plastics, consumer appliances, automotive, and chemicals among others owing to which demand of bromine-based products is increasingly use in the regional manufacturing industry. Further, region is the largest generator of electricity using coal fired power plant mainly China and India. Since, these plants emits large amount of mercury, therefore industry is increasingly using bromine for reducing the emission as it has the capability of reducing the mercury emission by 90%. Further, country such as China, Japan, and India are among the largest producer of bromine, with the annual production of 63,000; 20,000; and 10,000 metric tons respectively, in 2020. Along with local production, low labor cost and advance technology availability in the region builds a complete ecosystem for the bromine market from bromine producer to end user.
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- 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
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating globally. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the global Bromine market. The major players have been analyzed by using research methodologies for getting insight views on market competition.
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Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the global Bromine market?
- Which factors are influencing the global Bromine market over the forecast period?
- What are the global challenges, threats, and risks in the global Bromine market?
- Which factors are propelling and restraining the global Bromine market?
- What are the demanding global regions of the global Bromine market?
- What will be the market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by the companies?
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