Dublin, June 24, 2024 (GLOBE NEWSWIRE) -- The "Global Bromine Market by Derivative (Organobromine, Clear Brine Fluids and Hydrogen Bromide), Application (Flame Retardants, PTA Synthesis, Water Treatment & Biocides, HBR Flow Batteries), End-user & Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global bromine market will rise from USD 2.6 billion in 2024 to USD 3.3 billion by 2029, at a CAGR of 4.6% from 2024 to 2029. One significant driver of bromine market growth is the increasing emphasis on fire safety regulations and standards globally. Bromine-based flame retardants reduce the flammability of materials used in electronics, textiles, automotive, and construction industries.
The report defines, segments, and projects the bromine market size-based derivative, application, and region. It strategically profiles the key players and comprehensively analyzes their market share and core competencies. It also tracks and analyzes competitive developments, such as new product development, agreements, acquisitions, and expansions they undertake in the market.
The organobromine segment is projected to hold maximum share during the forecast period.
The organobromine segment is anticipated to hold the maximum share. It is witnessing geographical expansion, with increasing demand from emerging economies in regions such as Asia Pacific, Latin America, and the Middle East. Rapid industrialization, urbanization, and infrastructure development in these regions drive the demand for organobromine compounds across various industries.
The flame retardant segment is projected to hold maximum market share during the forecast period.
The flame retardant segment is expected to hold the maximum share during the forecast period. There is a growing demand for high-performance flame retardant materials that meet stringent fire safety standards and offer other desirable properties such as thermal stability, durability, and environmental sustainability. Bromine-based flame retardants are known for their effectiveness in imparting flame resistance while maintaining material integrity, making them preferred choices in various applications.
Asia Pacific is projected to hold the maximum market share of the bromine market during the forecast period.
The Asia Pacific bromine industry has been studied in China, Japan, India, South Korea, Taiwan, and the Rest of the region. Environmental regulations and sustainability concerns are increasingly shaping the bromine market dynamics in the area. Regulatory bodies impose stricter norms regarding using brominated flame retardants due to their potential environmental and health impacts. This has led to a shift towards alternative flame retardants and an increased focus on recycling bromine-containing products to reduce environmental pollution.
Reasons to Buy the Report:
The report is expected to help the market leaders/new entrants by providing them with the closest approximations of revenue numbers of the bromine market and its segments. This report is also expected to help stakeholders understand the market's competitive landscape, gain insights to improve the position of their businesses and develop suitable go-to-market strategies. It also enables stakeholders to understand the market's pulse and provides information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following :
- Analysis of critical drivers (Increasing demand for flame retardants in electronics, consumer goods, and textile industries), restraints (Emergence of non-halogenated flame retardants), opportunities (Increasing use of bromine in flow batteries), and challenges (Significant fluctuations in oil & gas prices) influencing the growth of the bromine market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities in the bromine market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the bromine market across varied regions.
- Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the bromine market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like ICL Group Ltd. (Israel), Albemarle Corporation (US), LANXESS AG (Germany), Tosoh Corporation (Japan), TETRA Technologies, Inc. (US), TATA Chemicals Ltd. (India), Hindustan Salts Ltd. (India), Honeywell International Inc. (US), Gulf Resources, Inc. (China), Agrocel Industries Pvt Ltd. (India), Satyesh Brinechem Pvt. Ltd. (India) among others in the bromine market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 336 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $2.6 Billion |
| Forecasted Market Value (USD) by 2029 | $3.3 Billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
- Bromine Market Snapshot
- Organobromine Derivative to Dominate Market in 2024
- Flame Retardants Application Led Market in 2023
- Asia-Pacific to Witness Highest Growth During Forecast Period
Premium Insights
- Attractive Opportunities for Players in Bromine Market -Growing Demand for Flame Retardants and Oil & Gas Drilling to Drive Market During Forecast Period
- Bromine Market, by Derivative -Hydrogen Bromide to be Fastest-Growing Derivative Segment During Forecast Period
- Asia-Pacific Bromine Market, by Derivative and Country -Organobromine and China Accounted for Largest Market Share
- Bromine Market, by Key Country -China, India, and Japan to Offer Lucrative Opportunities During Forecast Period
Market Dynamics
Drivers
- Increasing Use of Bromine Compounds to Mitigate Mercury Emission
- Growing Demand for Flame Retardants in Electronics, Consumer Goods, and Textile Industries
- Extensive Use of Bromine and Its Derivatives in Diverse Applications
- Increased Use of Bromine as Disinfectants
Restraints
- Toxicological Effects of Brominated Compounds
- Emergence of Non-Halogenated Flame Retardants
- Restriction on Brominated Flame Retardants by European Union
Opportunities
- Recycling of Bromine Products
- Increasing Use of Bromine in Flow Batteries
Challenges
- Significant Fluctuations in Oil & Gas Prices
Case Study Analysis
- Bromine Use and Recycling
- Impact of Brominated Flame Retardants on Recycling of Waste Plastics in Europe
- Effect of Ammonium Bromide on Flame Retardancy in Cotton Fabric
Launch Strategies for Various Product Volumes
- Launch Strategies for Product Volumes of Bromine
- Disruption in Bromine Supply-Demand Equilibrium
- Bromine Oversupply Scenario: Excess Production Resulted in Declining Prices
- Bromine Supply-Crunch Scenario: Facility Closures in China Led to Elevated Bromine Prices
Companies Featured
- ICL Group
- Albemarle
- LANXESS
- Tosoh
- Gulf Resources Inc.
- TETRA Technologies, Inc.
- Tata Chemicals Limited
- Hindustan Salts Limited
- Honeywell International Inc.
- Archean Chemical Industries Ltd
- Agrocel Industries Pvt Ltd.
- Perekop Bromine Factory
- Satyesh Brinechem Pvt. Ltd.
- Morre-Tec Industries Inc.
- Shandong Yuyuan Group Co. Ltd.
- Shandong Haiwang Chemical Co. Ltd.
- Shandong Haihua Group Co. Ltd.
- Shandong Ocean Chemical Co. Ltd.
- Shandong Weifang Longwei Industrial Co. Ltd.
- Shandong Runke Chemical Engineering Co. Ltd.
- Dhruv Chem Industries
- Shandong Lubei Chemical Co. Ltd.
- Shandong Haoyuan Group
- Chemcon Speciality Chemicals Ltd.
- Sangfroid Chemicals Pvt. Ltd.
- Chemada Industries Ltd.
- Vinyl Kft.
For more information about this report visit https://www.researchandmarkets.com/r/9rphuy
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