DUBAI, United Arab Emirates, April 05, 2022 (GLOBE NEWSWIRE) -- A new market research study by Future Market Insights on the global bromine derivatives market contains global industry analysis 2014–2021 and opportunity assessment 2022–2029. The report investigates the bromine derivatives market and provides critical insights for the forecast period of 2022-2029.
As per the findings of the report, the global industrial bromine derivatives market is anticipated to experience substantial growth over the forecast period due increasing adoption of bromine compounds in various applications, such as flame retardants, PTA synthesis, oil & gas drilling, and others.
The global industrial bromine derivatives market was valued at ~US$ 4 Bn in 2021 and is projected to increase at a CAGR of ~ 3.9% during the projected period of 2022 and 2029. This growth is significantly driven by the expansion of chemical, oil & gas, and other end-use industries of bromine based chemicals.
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List Of Key Players Covered in Bromine Derivatives Market are:
- Israel Chemicals Limited,
- Tosoh Corporation,
- Lanxess AG,
- Tata Chemicals Limited,
- Albemarle Corporation,
- Tetra Technologies Inc.,
- Mil-Spec Industries Corporation,
- Jordan Bromine Company,
- Hindustan Salts Limited,
- Neogen Chemicals Limited,
- DSL Chemicals (Shanghai) Co. Ltd.,
- Solaris ChemTech Industries Limited,
- among others.
Significant progress in numerous industry verticals, especially construction and chemicals in developing countries have resulted into increased demand for bromine derivatives. In an attempt to align with the evolving environmental policies, manufacturers are tapping into R&D and innovation space, according to the FMI study.
Global Bromine Derivatives Market: Vendor Insights
The report signifies some of the prominent market players, who have established themselves as leaders in the global bromine derivatives market. Few examples of key players in the market are Israel Chemicals Limited, Tosoh Corporation, Lanxess AG, Tata Chemicals Limited, Albemarle Corporation, Tetra Technologies Inc., Mil-Spec Industries Corporation, Jordan Bromine Company, Hindustan Salts Limited, Neogen Chemicals Limited, DSL Chemicals (Shanghai) Co. Ltd., and Solaris ChemTech Industries Limited, among others. The global bromine derivatives market is considerably dominated by some key players holding major shares of the market. Tier-1 players are collaborating with regional/local companies to increase their bromine-based product portfolio, thus, gaining a competitive edge over their peers.
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Alternative Usage of Bromine Compounds in Various Industrial Applications
The global bromine derivatives market has been segmented based on derivative, application, end-use, and regions such as North America, Latin America, Europe, South Asia, East Asia, Middle East & Africa, and Oceania.
- Consumption of bromine and its derivatives in Asia and BRIC nations is expected to grow steadily due to the underlying growth in end-use industries, such as dye manufacturing, pharmaceuticals, and specialty chemicals, and the shift in the production of consumer electronics from the U.S. and Europe to Asia. Factors mentioned above are expected to position Asia (South & East) as a major lucrative market for players in the bromine derivatives market.
- Bromine derivatives are used in almost all end-use industries, such as pharmaceuticals, automotive, electronics, and others. Bromine compounds, such as methyl bromide, are mostly used as pesticides in the agriculture sector, owing to its highly active nature even at low temperatures. Over the past few years, bromine is used as a biocide and disinfectant in drinking and wastewater treatment, and swimming pools, respectively.
- With developing oil drilling technologies, the use of bromine-based drilling solutions, also called brine fluids, are gradually spreading across the U.S., U.K., South East Asia, Africa, Middle East, and others. This is estimated to pave way for the growth of the global bromine derivatives market.
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Regional Insights:
Growing stringency of government regulations on the usage of halogenated flame retardants in the U.S., Canada, and EU countries, is a factor expected to decrease the consumption of bromine in these geographies.
However, in developing nations, such as China and India, government policies are not that strict on the use of brominated flame retardants as compared to that in the U.S. and EU member countries.
Detailed Table of Content:
- Executive Summary
- Market Outlook
- Demand Side Trends
- Supply Side Trends
- Analysis and Recommendations
- Market Overview
- Market Taxonomy
- Market Definition / Scope / Limitations
- Key Market Trends
- Key Trends Impacting the Market
- Innovation / Development Trends
- Key Success Factors
- Product Adoption / Usage Analysis
- Product innovation & Diversification
- Marketing and Brand management
- Supply Chain Management
- Global Bromine Derivatives Market Demand Analysis 2014-2021 and Forecast, 2022-2029
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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