According to the report by Expert Market Research (EMR), the global bromine market size is projected to grow at a CAGR of 4.1% between 2024 and 2032. Aided by the, the market is expected to grow significantly by 2032.
Bromine, a halogen element extracted primarily from brine pools, is increasingly being utilised across various sectors, including flame retardants, water treatment, pharmaceuticals, and oil & gas. The element’s diverse applications and its role in synthesising a wide array of products are pivotal in driving the global bromine market growth.
The demand for bromine in the flame-retardant industry is a major growth driver. With stringent regulations and increased awareness regarding fire safety, the use of bromine as a flame retardant in textiles, electronics, and construction materials has surged. This increase is attributed to bromine’s effectiveness in reducing the flammability of products and its ability to enhance public safety standards.
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In the realm of water treatment, bromine compounds are essential for disinfecting and maintaining water hygiene in pools and industrial water systems. The growing global emphasis on clean water and sanitation, as outlined in the Sustainable Development Goals, has bolstered the demand for effective and efficient water treatment solutions, thereby propelling the bromine market demand.
The pharmaceutical industry also contributes significantly to the bromine market. Bromine compounds are integral in the synthesis of various medicinal products, including sedatives, antihistamines, and anaesthetics. The ongoing research and development in medicine, coupled with the growing healthcare sector, particularly in emerging economies, are expected to further influence the bromine market outlook.
Moreover, the oil and gas sector utilise bromine for drilling and extracting processes. The increasing energy demand globally and the exploration of new oil and gas fields have amplified the need for bromine in this sector.
Geographically, the Asia Pacific region holds a substantial share of the market, primarily due to the rapid industrialisation and urbanisation in countries like China and India. These economies are witnessing a significant increase in the use of bromine in various industries, including electronics, automotive, and construction, which in turn is fuelling the market growth in the region. Furthermore, the ongoing research in developing alternatives to bromine-based flame retardants and the increasing adoption of green chemistry principles pose additional challenges to the market’s expansion.
Bromine Market Segmentation
The market can be divided based on type, application, and region.
Market Breakup by Type
- Hydrogen Bromide
- Organobromine
- Bromide Salts
- Others
Market Breakup by Application
- Biocides
- Flame Retardants
- Bromine-Based Battery
- Clear Brine Fluids (CBF)
- Fine Chemicals
- Agriculture Products
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Bromine Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global bromine market. Some of the major players explored in the report by Expert Market Research are as follows:
- Israel Chemicals Ltd (ICL)
- LANXESS Corporation
- Albemarle Corporation
- Jordan Bromine Company (JBC)
- Tata Chemicals Ltd.
- Others
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