Saturday, December 4th, 2021

Bromine Market Size, Share, Growth, Analysis and Forecast 2030

According to ChemAnalyst report, “Global Bromine Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, 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. 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 of bromine during forecast period. Moreover, the increasing demand of 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.

Bromine is a halogen element which 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. Among the above application areas, the flame retardants segment dominates the global market due to increasing awareness and precautions regarding fireproof infrastructure.

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Bromine is basically a halide salt which is extracted from brine pools. Bromine and its derivatives are used in a large number of application areas including flame retardants, water treatment and biocides, mercury emission control, hydrogen bromide flow batteries, pesticides, plasma etching, pharmaceuticals etc. In 2020, the spread of COVID-19 in major global economies caused nationwide lockdowns which had an impact on a number of industries. Construction and automotive were among the most affected industries during the pandemic. This had an impact on the demand of 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.

Bromine is majorly related to flame retardants hence the price is directly linked to the fluctuations in the demand of construction and automotive which are the major consumers of flame retardants. In the first half of FY20 sudden outbreak of novel coronavirus followed by fall in in the demand of construction and automotive rendered a major downfall in the global bromine, hence the prices remained low for bromine during the coronavirus pandemic. Demand has picked up in the recent quarters and is projected to grow due to increasing demand from Asia Pacific and North America.

Regionally, Asia Pacific dominates the Global bromine market and holds the largest market share in FY20. Asia’s bromine market is anticipated to grow in the economies like China due to increasing demand of flame retardants and hydrogen bromide flow batteries.

Major Players:

  • Israel Chemicals Limited,
  • Albemarle Corporation,
  • LANXESS Corporation,
  • Tosoh Corporation,
  • Tata Chemicals Limited,
  • Gulf Resources Inc, and
  • TETRA Technologies, Inc.

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“Being linked to the construction and automotive industry which are the major consumers of flame retardants, the global bromine industry has shown a robust growth alongside growing population and changing consumer preference towards safer infrastructure and automotive. China serves as the key growth region with sufficiently installed capacities for bromine.  With new competitors emerging across the Asia Pacific bromine market, players anticipate that there will be sufficient supply demand gaps in future. At this, it is extremely important to keep an eye which region will grab the biggest market share in the upcoming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.

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

Details

Market size volume in 2020

1.13 million tons

Growth Rate

CAGR of 4.85% from 2021 to 2030

Base year for estimation

2020

Historic Data

2015 – 2019

Forecast period

2022 – 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2030

Report coverage

Revenue forecast, demand & supply, competitive analysis, competitive landscape, growth factors, and trends

Segments covered

By Application (Flame Retardants, Water Treatment and Biocides, Mercury Emission Control, Hydrogen Bromide Flow Batteries, Pesticides, Plasma Etching, Pharmaceuticals)
By Derivative (Organobromine, Clear Brine Fluids, Hydrogen Bromide)
By Sales Channel (Direct/Institutional Sales, Indirect Sales)

Regional scope

North America; Europe; Asia Pacific; South America; Middle East & Africa

Country scope

United States; Mexico; Canada; China; India; Japan; South Korea; Taiwan; Singapore; Germany; Belgium; France; United Kingdom; Spain; Italy; Sweden; Austria; Saudi Arabia; Iran; South Africa; Brazil; Argentina

Key companies profiled

Israel Chemicals Limited, Albemarle Corporation, LANXESS Corporation, Tosoh Corporation, Tata Chemicals Limited, Gulf Resources Inc, and TETRA Technologies, Inc.

Customization scope

Free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

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ChemAnalyst is a ‘one stop’ digital platform that offers comprehensive market intelligence data and in-depth analysis of the Indian chemical and petrochemical industry. ChemAnalyst’s team of 100+ analysts are engaged in tracking chemical prices daily, production capacity, demand and supply outlook, manufacturing plant locations, foreign trade data and news/deals for more than 400 major chemicals produced in India. ChemAnalyst is promoted by TechSci Research which is an award winning research based management consulting firm providing market research and advisory solutions to the customers worldwide, spanning a range of industries including Chemicals & Material, Automotive, Consumer & Retail, ICT, Energy & Power, Aerospace & Defense, Water and Waste Management, BFSI and more.

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