[Online Quarterly Update] Global Bromine demand stood at 1.13 Million Tonnes in 2020 and is forecast to reach 1.812 Million Tonnes by 2030, growing at a healthy CAGR of 4.85% until 2030.
Bromine is a halogen element that appears as a red-brown liquid at room temperature. Bromine has various derivatives including organobromine, clear brine fluids, hydrogen bromide, etc. Bromine has application in various areas including flame retardants, water treatment and biocides, mercury emission control, hydrogen bromide flow batteries, pesticides, plasma etching, pharmaceuticals, and others. Increasing demand for flame retardants from construction and automotive and other areas coupled with the increasing demand for clear brine fluids from oil and gas extraction is expected to drive the demand for bromine during the forecast period. Moreover, the increasing demand for hydrogen bromide from hydrogen bromide flow batteries which find application in electric vehicles is also an influencing factor supporting demand growth during the forecast period.
In 2020, the spread of COVID-19 in major global economies caused nationwide lockdowns which had an impact on several industries. Construction and automotive were among the most affected industries during the pandemic. This had an impact on the demand for flame retardants for the first half of 2020. Therefore, the demand for bromine fell during the coronavirus pandemic from the flame retardant segment. The demand from clear brine fluids which find application in oil and gas extraction also fell during the coronavirus pandemic. On the other hand, the demand from water treatment and biocides segment grew during the coronavirus pandemic.
Region-wise, Asia-pacific region holds the major share of global demand for bromine due to the increasing demand of application industries such as flame retardants, clear brine fluids. Moreover, the increasing demand for electric vehicles which require hydrogen bromide flow batteries as energy storage systems is also an influencing factor creating demand for bromine in Asia-Pacific.
Years considered for this report:
Historical Period: 2015-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2030
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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 globally.
• To analyse and forecast the market size of bromine .
• To classify and forecast global bromine market based on technology, end-use and regional distribution.
• To identify drivers and challenges for global bromine market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global bromine market.
• To identify and analyse the profile of leading players involved in the manufacturing of bromine.
Major players for bromine globally include Israel Chemicals Limited, Albemarle Corporation, LANXESS Corporation, Tosoh Corporation, Tata Chemicals Limited, Gulf Resources Inc, and TETRA Technologies, Inc.
To extract data for global bromine market, primary research surveys were conducted with bromine manufacturers, suppliers, distributors, wholesalers and end users. 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 end user segments and projected a positive outlook for Global bromine market over the coming years.
ChemAnalyst calculated bromine demand globally by analyzing the historical data and demand forecast which was carried out considering imported bromine, prices, materials used for production of 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.
In this report, global bromine market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, by Application
Flame Retardants, Water Treatment and Biocides, Mercury Emission Control, Hydrogen Bromide Flow Batteries, Pesticides, Plasma Etching, Pharmaceuticals
Market, by Derivative
Organobromine, Clear Brine Fluids, Hydrogen Bromide
Market, by Sales Channel
Direct/Institutional Sales, Indirect Sales
Market, by Region
North America, APAC, Europe, MEA, South America
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