Bromine Market

Global Market Study on Bromine: Water Treatment Application to Drive Major Demand Over Coming Years

Bromine Market Segmented By Flame Retardants, Biocide, Oil and Gas Drilling, Plasma Etching, PTA Synthesis with Clear Bromine Solution, Hydrogen Bromide, Organobromines Derivatives

Market Snapshot

This bromine industry survey predicts the market to attain a worth of nearly US$ 3.3 Bn by 2031-end, while it rises at a steady CAGR of 2.6% over the next ten years. Analysts at Persistence Market research have recently released revised data for the bromine market and have given a comprehensive assessment of the current market stance as well as detailed forecasts. The bromine industry in North America is expected to progress at a slow CAGR of 2.4%.

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Companies

  • Israel Chemicals Limited
  • Chemtura Corporation
  • Albemarle Corporation
  • Gulf Resources Inc.
  • Tosoh Corporation
  • Tetra Technologies Inc.
  • Tata Chemicals Limited and Hindustan Salts Limited.
  • Others

Key Points Covered in Bromine Industry Survey:

  • Market estimates and forecast 2016-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, country-wise, and region-wise analysis
  • Competition mapping and benchmarking
  • Brand share and market share analysis
  • Key product innovations and regulatory climate
  • Assessment by product grade / purity / formulation standards
  • Assessment of import price, bulk price, contractual price, producer / distributor price
  • Certifications and compliance requirements
  • COVID-19 impact on bromine demand and how to navigate
  • Recommendation on key winning strategies

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Zinc-Bromine Batteries to Influence Demand

As research and developments in various fields rise, there has been an increase in the application of many elements. Bromine is also one of those elements that have been gaining popularity due to its increasing scope of applications, citing accelerated research in many chemical and industrial applications. Use of bromine in water treatment is a prime instance of how its use has evolved.

Zinc-bromine batteries have also increased their scope of application and are being used in many projects. Bromine is an important element in many chemical and industrial processes, and since it’s a naturally occurring element, the mining sector is a moderately lucrative one.

  • Tetra Technologies, Inc. has completed a preliminary technical assessment to assess lithium and bromine targets in Columbia and Lafayette counties. The assessment has estimated between 2.54 and 8.58 Mn tons of elemental bromine. The firm expects demand for bromine to rise as its application in zinc-bromine batteries increases.
  • Redflow has seen great potential in its zinc-bromine flow batteries as it recorded one of the biggest deals where it sold 192 zinc-bromine batteries to waste conversion specialists Anaergia for US$ 1.5 Mn. The popularity of these batteries coupled with other applications is expected to majorly shape the bromine market globally.

bromine-market

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Market Overview

Bromine is a naturally occurring element, found in sea, lakes, and underground wells. It is widely used as a reactant and catalyst for manufacturing a variety of products, such as agrochemicals, biocides, water disinfectants, pharmaceuticals intermediates, dyes, completion fluids, flame retardants, and photographic chemicals. Dead-Sea is the richest resource of bromine with concentration of 10-12 gram per liter.

Bromine is a colorless soluble crystalline mineral halide salt which is extracted from brine pools. Various derivatives of bromine are used in a broad range of end-use industries, such as hydrogen bromide, organobromine, and clear brine fluids.

Bromine and its derivatives are used in a wide range of applications, such as oil and gas drilling, flame retardants, biocides, plasma etching, and PTA synthesis (mercury emission control and water treatment). Key end-use industries of bromine include chemicals, oil and gas, pharmaceuticals, electronics and textiles among others.

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Drivers by Application

By application, oil and gas drilling segment is expected to grow at highest CAGR during the forecast period, whereas flame retardants segment is expected to grow at a slow CAGR.

The global demand for bromine is expected to increase over the forecast period despite it being banned in Europe, owing to concerns about its potential health- and environmental- impact.

Demand for bromine is expected to be driven primarily by its usage in development of new applications, such as mercury emission control and flow battery. Owing to its wide-ranging applications, a demand-supply imbalance is a possibility in the future.

Drivers by End-use Industry

By end-use industry, bromine market is segmented into chemicals, oil and gas, pharmaceuticals, electronics, textiles and other. The chemical segment is expected to remain the largest end-use industry for bromine during the forecast period. This segment is anticipated to witness linear growth during the forecast period.

In the chemical end-use segment, ‘other chemical manufacturing’ is projected to witness the highest growth, registering a stagnant CAGR over the forecast period. Oil and gas is expected to grow due to growing demand for clear brine fluids for oil and gas drilling. However electronics segment is expected to witness sluggish growth due to government regulations on use of brominated flame retardants in consumer electronics.

By Geography

On the basis of geography, the global bromine market is segmented into North America, Latin America, Europe, Asia Pacific (APAC) and Middle East and Africa (MEA). Asia Pacific (APAC) is expected to be the fastest growing segment during the forecast period.

North America and Europe are mature markets for bromine and are inclined towards limited consumption of brominated flame retardants due to environmental regulations about its hazardous nature. However, bromine consumption in Latin America is expected to grow significantly in 2021 due to rising oil exploration operation in Mexico.

Market Segmentation:

Application Type

  • Flame Retardants
  • Oil and Gas Drilling
  • Biocides
  • PTA Synthesis
  • Plasma Etching
  • Others
    • Water Treatment
    • Mercury Emission Control
    • Others

End-use Industry

  • Chemicals
    • Rubber and Plastics
    • Agrochemicals
    • Other Chemical Manufacturing
  • Oil and Gas
  • Pharmaceuticals
  • Electronics
  • Textiles
  • Others

Regional Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • EU-5 (U.K., Spain, Germany, Italy and France)
    • BENELUX (Belgium, Netherlands and Luxembourg)
    • Nordic (Sweden, Norway, and Denmark)
    • Eastern Europe (Russia and Poland)
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • ASEAN
    • India
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • The Middle East & Africa (MEA)
    • GCC
    • South Africa
    • Rest of MEA

Media Release

- FAQs -

The U.S., Japan, India, South Korea, and China are at the forefront of the industry landscape in terms of demand.
The North American bromine industry is expected to rise at a value CAGR of 2.4% over the next ten years.
The bromine market developed at a sluggish CAGR of 2.1% from 2016 to 2020.
Albemarle Corporation at 20%, Lanxess AG at 3%, KCL Group at 14%, Tosoh Corporation at 2%, and Jordan Bromine Co. Ltd. at 20% are key market players, as per ratings on the basis of market share, market reach, clientele, etc.
Consumption analysis of bromine reveals that the market is expected to register a low CAGR of 2.4% in terms of volume.
The U.S., Japan, and China are leading nations in bromine production.
By 2031, the bromine industry is anticipated to amass revenue worth nearly US$ 3.3 Bn.
Increasing usage of bromine in water treatment applications is anticipated to be the major driver for demand.
Germany is expected to account for nearly 14% of the market share in the European region.
Japan and South Korea are anticipated to hold 8% and 5.6% of the market share, respectively.
Mergers and acquisitions are expected to be frequent in the global bromine landscape.
The U.S., Japan, India, South Korea, and China are at the forefront of the industry landscape in terms of demand.
The North American bromine industry is expected to rise at a value CAGR of 2.4% over the next ten years.
The bromine market developed at a sluggish CAGR of 2.1% from 2016 to 2020.
Albemarle Corporation at 20%, Lanxess AG at 3%, KCL Group at 14%, Tosoh Corporation at 2%, and Jordan Bromine Co. Ltd. at 20% are key market players, as per ratings on the basis of market share, market reach, clientele, etc.
Consumption analysis of bromine reveals that the market is expected to register a low CAGR of 2.4% in terms of volume.
The U.S., Japan, and China are leading nations in bromine production.
By 2031, the bromine industry is anticipated to amass revenue worth nearly US$ 3.3 Bn.
Increasing usage of bromine in water treatment applications is anticipated to be the major driver for demand.
Germany is expected to account for nearly 14% of the market share in the European region.
Japan and South Korea are anticipated to hold 8% and 5.6% of the market share, respectively.
Mergers and acquisitions are expected to be frequent in the global bromine landscape.

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