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Bromine Market By Derivative (Organobromine, Hydrogen Bromide, & Clear Brine Fluids (CBF))
According to Persistence Market Research's most recent market projections, the global Bromine market will be valued at US$ 2,826.5 Mn by the end of 2022. The Bromine market is projected to reach US$ 3,689.4 Mn in value by 2033, expanding at a steady CAGR of 2.7%.
Bromine Sales (2022A)
US$ 2,750.8 Mn
Bromine Demand (2023E)
US$ 2,826.5 Mn
Bromine Market Projections (2033F)
US$ 3,689.4 Mn
Value CAGR (2023-2033)
Collective Value Share: Top 3 Countries (2023E)
At normal temperature, bromine, the third lightest halogen element, exists as a fuming red-brown liquid. Because it is highly reactive, elemental bromine does not exist naturally in its free form. Instead, it is offered as crystalline, colorless, soluble mineral halide salts.
Halogen elements are used in production various vital chemicals across wide spectrum of end-use industries. Among various halogens Chlorine is most commonly used halogen element holding majority of shares in global halogen market. Bromine secured second position in list of most grossing halogen elements. Bromine is anticipated to contribute more than 10% in revenue of global halogen market.
The historical growth trend of Bromine has witnessed an increasing trend, driven by growing consumption in end use sector, owing marvelous growth in end use industries over the historical assessment period. However, the market has witnessed several setbacks in 2020 owing to COVID-19 pandemic. With growing number of COVID cases and increasing governmental initiatives had an adverse effect on the market. The demand was hampered and witnessed a downfall of about -4.6% in 2020.
As the patient graph stated to flatten in late 2021 and increasing governmental initiatives to recover various aspects of country as well as global economy to pre-crisis levels. The demand for bromine has recovered sharply resulting in a V-shape impression in y-o-y demand graph of global bromine market.
Demand for bromine has been recovered and is anticipated to witness elevated demand for a few upcoming years. Persistence Market Research is expecting global bromine market to grow with a CAGR of 2.7% by the end of upcoming assessment period of 2023 – 2033.
Growing Sales of Water Treatment Chemicals to Augment the Demand
With the expansion of water treatment regulations, the demand for chemicals with water treatment properties has increased significantly in recent years. Halogen compounds are the most widely used water treatment chemicals across the globe.
In recent years, chlorine has been used for water treatment owing to its wide availability and cheap cost. However, as people become more aware of the dangers of chlorine consumption and its use in water treatment, there has been a surge in demand for chlorine substitutes.
Bromine has emerged as a viable alternative to chlorine in the water treatment industry. Bromine is comparatively less harmful than its alternatives and is witnessing elevated demand across the hot tub, spa, swimming pool, and various other water treatment industries.
As the flame of industrial development spreads throughout various emerging nations, demand for industrial water treatment and allied chemicals, including bromine, is expected to skyrocket.
Veiled Potential Brominated Compounds As Mercury Emission Control Compounds Can Shoot the Sales In The Near Future
The market for bromide-based solutions to remove mercury emissions from coal-fired power stations is an opportunity for the industry. Utilizing bromide compounds for mercury emission reduction appears to be more cost-effective than alternative materials, such as chlorine-, fluorine-, or iodine-based compounds.
In recent years, both domestic and international regulations have asked for mercury emissions to be reduced. For Instance, The EPA's Mercury and Air Toxics Standards (MATS) were issued in 2012, as was the UN Environment Program's Minamata Convention on Mercury in 2013. Mercury control legislation have yet to be established; nonetheless, if mercury reductions become necessary, there is substantial development potential for bromine compounds.
Adverse Health Effects of Brominated Compounds on Human Health to Control Sales
Brominated compounds, such as flame retardants, have been regularly added to consumer items, including electronics, plastics, and many others, for several years in an effort to effectively limit fire-related fatalities and property damage. Due to the harmful and toxicological consequences these compounds have on human health and the environment, concerns regarding their use have recently decreased. Various health hazards to human tissues owing to corrosive nature of Liquid Bromine. Also, on contact even bromine fumes can cause irritation in eyes and throat and can cause some severe health problem when inhaled.
Due to their widespread production and use, brominated flame retardants (BFRs) contribute to increased environmental contamination. These toxins also have a harmful effect on wildlife and animals. However, the current state of the toxicity databases prevents a complete understanding of the threat.
There have been studies; however, many of them have relied on commercial blends rather than human exposure. Future studies in this field should concentrate on congeners and potentially their metabolites or breakdown products to fully understand the risks associated with the bromine derivatives used in industry.
What Is the Growth Outlook of the Bromine Market in the China?
According to latest market survey conducted by Persistence Market Research, China is anticipated to be the largest consumer of Bromine and its derivatives across the world. More than half of the bromine and its derivatives produced across the globe by chemical and oil & gas industries. With chemical industry to top the consumption table, China is anticipated to create robust demand over the forecast period.
China is considered as hub of chemical industry with such a high concentration of chemical companies, the country is expected to create a huge opportunity in the global Bromine industry over the forecast period owing to promising growth by end-use industries. The country is expected to cater majority of product demand owing to the strong production capacity of manufacturers.
However, the country is dependent upon imports from MEA region especially from the countries surrounded by Dead Sea (i.e. the largest bromine reserve in the world) like Jordan and Israel.
Rising demand for flame retardants as a result of the strict fire safety regulations
Each year, fire-related accidents cause the worldwide loss of billions of dollars' worth of property. The settlement of claims for property, infrastructure, and human lives lost in fire catastrophes requires insurance firms to spend a significant portion of their earnings.
As a result, substances like anti-inflammatory drugs and flame retardants are essential since they reduce the risk of fire for practically every manufactured good.
By creating a layer of free radicals, flame retardants delay the combustion process and thereby prevent fire. They either release carbon dioxide or create free radicals that react with oxygen molecules to halt oxidation.
The automobile, electronics, consumer goods, and textile industries are among those where EU nations are concentrating on putting in place strict fire safety requirements. With the propagation of awareness in the world and the increase in regulations, demand for bromine compounds is expected to propel over the forecast period.
Increased drilling for oil and gas will boost CBF sales.
Developed nations are concentrating on the development of shale deposits as a component of their strategy as they work to achieve energy security. As clear brine fluids are utilized in the last stages of oil and gas extraction, the increase in oil and gas drilling activities for aforementioned reason is projected to drive the market.
With increasing oil and gas drilling activities worldwide, CBF manufacturers have lucrative opportunities to expand their business. For instance, ICL-IP (the leader of the market for bromine-based clear brines in the North Sea and the Gulf of Mexico) supplies it’s recyclable and reusable CBFs to the service companies, which sell formulated brines to the oil companies (such as Shell, Exxon, and BP) for use in their drilling and completion operations.
North America dominates the global CBF industry, due to leading oil and gas companies operating in the region. As developed nations are motivated to gain energy security, oil and gas drilling activities in the region are growing rapidly. In order to maintain their position in the market and avoid dependence on OPEC for energy, the countries in North America have increased their drilling activities to discover more shale reserves.
Due to the presence of numerous shale gas resources in the area, Asia Pacific has become the second most important region in terms of CBF consumption. Due to its dominant position in the Asia Pacific recoverable shale gas market, China is the region's largest consumer of clear brine fluids. The region's CBF industry is consequently growing due to the ongoing oil and gas drilling activity in Asia Pacific.
Key Manufacturers operating in the market is setting their belts by increasing their production capacities and strategic collaborations to cater the anticipated demand growth in the market and relish maximum opportunities.
Historical Data Available for
Key Countries Covered
Key Segments Covered
Key Companies Profiled
Customization & Pricing
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By Derivative, the Bromine market is segmented as:
By Application, the Bromine market is segmented as:
By End-Use, the Bromine market is segmented as:
The global market of Bromine is estimated to reach a valuation of US$ 2,826.5 Mn in 2023.
The Bromine demand is anticipated to witness a growth rate of 2.7% over the forecast period of 2023 and 2033 in terms of value.
According to PMR analysis, Israel Chemicals Limited, Albemarle Corporation, Tosoh Corporation, Tata Chemicals Limited, LANXESS AG, Sumitomo Chemical Co. Ltd., Perekop Bromine, Archean Group, Jordan Bromine Company, Gulf Resources Inc., Hindustan Salts Limited, Tetra Technologies Inc., Shandong Haiwang Chemical Co. Ltd., Vinyl KFT are identified as the key manufacturers in the Bromine market.