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 2029″, is projected to grow from USD 2.6 billion in 2024 to USD 3.3 billion by 2029, at a CAGR of 4.6% from 2024 to 2029. Rapid industrialization and infrastructure development in various regions drive the demand for bromine-based products. Additionally, investments in mining and production facilities are further boosting market growth.
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• 421 Market data Tables
• 56 Figures
• 335 Pages and in-depth TOC on “Bromine Market – Global Forecast to 2029″
Some of the prominent key players are:
- ICL Group Ltd. (Israel),
- Albemarle Corporation (US),
- LANXESS AG (Germany),
- Tosoh Corporation (Japan),
- TETRA Technologies, Inc. (US),
- TATA Chemicals Ltd. (India), and many more….
Driver: Use of bromine compound to mitigate mercury emission
The use of bromine compounds to mitigate mercury emissions is a significant driver of the bromine market. Bromine compounds, such as brominated activated carbon, are utilized in flue gas treatment processes to capture and remove mercury emissions from industrial sources, particularly coal-fired power plants. These compounds chemically react with elemental mercury, forming stable complexes that can be easily captured and removed from the flue gas stream. With increasing regulatory pressure to reduce mercury emissions due to environmental and health concerns, the demand for bromine compounds as effective mercury control agents is growing, thereby driving the expansion of the bromine market.
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By derivative, The organobromine segment will lead the bromine market during the forecast period.
In derivative, the organobromine segment is anticipated to hold the leading position in the bromine industry. Ongoing research and development efforts in organobromine chemistry have led to developing advanced compounds with improved properties and performance characteristics. Scientists and manufacturers continuously innovate to enhance organobromine compounds’ efficacy, environmental sustainability, and safety profiles, expanding their applications and market opportunities. These technological advancements are driving the adoption of organobromine compounds in new and existing applications, further propelling the segment’s growth within the bromine market.
During the forecast period, Asia Pacific will lead the global bromine market.
In 2023, the Asia Pacific region held the dominant share in the global bromine industry. Forecasts suggest this region will experience a significant Compound Annual Growth Rate (CAGR) between 2023 and 2028. Both domestic production and imports influence the bromine market in the Asia Pacific. Countries like China are significant producers of bromine, particularly from underground brine wells. However, demand often exceeds domestic supply, leading to imports from other regions, such as the Middle East and North America, to meet the market demand.