The global Bromine market has reached approximately 460 thousand tonnes in 2021 and is expected to grow at a CAGR of 2.79% during the forecast period until 2035. Albemarle Corporation, a pioneer in the global specialty chemicals sector, announced in August 2022 that their Bromine and Lithium global business units will be reconfigured into a new business structure.
Bromine belongs to the halogen family. The chemical element bromine has the symbol Br. This element occurs naturally in sea water along with chlorine. On an industrial level, it is extracted from brine solution. Due its unique properties, bromine displays flame retardant properties and commonly used for the manufacture of flame retardants. Bromine is utilized in the production of a wide range of goods such as antimicrobials, water disinfectants, agrochemicals, chemical entities for synthetic drugs, pigments, and photography substances. It is extensively employed as a reactive and catalyst in chemical industries.
The primary driver of Bromine global market is the Flame Retardants Industry. In 2021, approximately 45% of global Bromine was utilized by the Flame Retardants Industry. Not just for manufacturing flame retardant sprays, Bromine compounds are also used as an additive in furniture foam and outer body of electronic gadgets to make them fire-resistant up to a certain extent. Furthermore, utilization of Bromine as a drilling fluid and for manufacturing of biocides are also the contributing factors for the growth of global Bromine market. The global market value of Bromine stood at about USD 2.3 billion in 2021 and is anticipated to reach approximately USD 5 billion by the forecast period.
Based on region, Asia Pacific is leading as a consumer of the Bromine market. In 2021, this region accounted for a consumption of about 25% of the global Bromine market in 2021. Furthermore, North America and Europe are close competitors in terms of Bromine consumption. Middle East is dominating the Bromine market as a producer. This region accounted for production of about 45% of the global Bromine in 2021. Israel and Jordan situated in this region are causing the majority of Bromine production. It is anticipated that Middle East will be leading as a world producer of global Bromine in the forecast years as well.
Based on the end-user industry, the global Bromine market is segmented into certain industrial sectors including Flame Retardants, Drilling Fluid, Water Treatment, Hydrogen Bromide, and Others. Although, Flame Retardants is the largest consumer of global Bromine market. Bromine has unique properties than other halogens and is an ingredient in Flame Retardants. Bromine-based Flame Retardants work well in plastic and textile sectors as wells as employed in electronics, apparel, and furniture. The increasing demand of Flame Retardants is anticipated to swell up the demand of Bromine in the forecast period by 2035. Bromine is also employed in the energy sector as well in the form of Drilling Fluid. The rising demand of Drilling Fluid and Hydrogen Bromide is anticipated to create a demand of Bromine in the forecast period.
Major players in the production of Global Bromine are ICL Industrial Products Limited, Albemarle Corp, Jordon Bromine Co., Agrocel Industries Private Limited, Chemtura Corp, Gulf Resources Inc, Tosoh Corporation, and Satyesh Brinechem Private Limited.
Years for this report:
Historical Period: 2015- 2021
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023-2035
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Objective of the Study:
• To assess the demand-supply scenario of Bromine which covers production, demand and supply of Bromine market in the globe.
• To analyse and forecast the market size of Bromine
• To classify and forecast Global Bromine market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Bromine market in the globe.
To extract data for Global Bromine market, primary research surveys were conducted with Bromine manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Bromine market over the coming years.
ChemAnalyst calculated Bromine demand in the globe by analyzing the historical data and demand forecast which was carried out considering the raw materials to extract Bromine. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Bromine manufacturers and other stakeholders
• Organizations, forums and alliances related to Bromine distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Bromine manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Bromine market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
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Details
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Market size Volume in 2021
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460 thousand tonnes
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Market size Volume by 2035
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680 thousand tonnes
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Growth Rate
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CAGR of 2.79% from 2022 to 2035
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Base year for estimation
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2022
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Historic Data
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2015 – 2021
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Forecast period
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2023 – 2035
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Quantitative units
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Demand in thousand tonnes and CAGR from 2022 to 2035
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Report coverage
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Industry Market Size, Capacity By Company, Capacity by Location, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade
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Segments covered
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By End-Use: (Flame Retardants, Drilling Fluid, Water Treatment, Hydrogen Bromide, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
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Regional scope
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North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
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