The report “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 – Global Forecast to 2028″, is expected to grow from USD 3.6 billion in 2023 to USD 4.4 billion by 2028, at a CAGR of 4.2%. The major factors driving the bromine market is extensive consumption in diversified applications, such as flame retardants, plasma etching, water treatment, pesticide formulation, among others.
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• 391 Market data Tables
• 51 Figures
• 321 Pages and in-depth TOC on “Bromine Market – Global Forecast to 2028”
Some of the prominent key players are:
· ICL Group Ltd. (Israel)
· Albemarle Corporation (US)
· LANXESS AG (Germany)
· Tosoh Corporation (Japan)
· TETRA Technologies, Inc. (US)
· Solaris Chemtech Industries Ltd. (India)
· 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)
Driver: Increasing demand for flame retardants in electronics, consumer goods, and textile industries
Brominated flame retardants prevent fire by delaying combustion and forming a layer of free radicals. They either release carbon dioxide or free radicals that combine with oxygen molecules, thereby arresting oxidation. Flame retardants are widely used in furniture, textiles, electronics, building materials and other applications.
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Based on application, the flame retardants segment accounts for the largest share of the overall market
Based on application, flame retardants segment accounts for highest share. Due to stringent fire safety regulations bromine is used in various industries including shipbuilding. Brominated flame retardants when applied to any material helps to prevent burning or reduce the spread of fire. Brominated flame retardants are one of the widely used flame retardants in many industries.
Asia Pacific is expected to account for the largest share of the global market during the forecast period.
Based on the region, Asia Pacific accounts for the largest share. Flame retardant, Oil & gas drilling, PTA synthesis, pharmaceutical, among others are some of the leading applications in the region where bromine is used. The region is hub to many global leading manufacturers of bromine. The countries which have shown potential growth from bromine market in the region are China, Japan and India.