The analysts of a fresh business intelligence study by Transparency Market Research (TMR) have detected that the global bromine market is moderately consolidated in nature, with a small pool of players holding major shares. The report identifies Gulf Resources Inc., Israel Chemical Ltd. (ICL), Jordan Bromine Company Limited, and Albemarle Corporation as some of the notable players who are currently ahead of the curve in the global bromine market. This position of strength of the aforementioned companies is a reflection of their strong manufacturing capabilities as well as presence in various geographical regions. These well established players, on the back of their technological resources and financial might, are also indulging on the research and development of innovative products as well as price them competitively to counter their rivals. Chemtura, Tosoh, Honeywell International, Hindustan Salts, TETRA Technologies, and MORRE-TEC Industries are some of the other key players worth a mention in the global bromine market.
Global Bromine Market to be worth US$2.67 bn by 2025
If the projections of the TMR report are to be believed, the demand in the global bromine market will expand at a formidable CAGR of 5.0% during the forecast period of 2017 to 2025. The analysts of the report have evaluated that the opportunities in the global bromine market translated into a revenue of US$1.74 bn in 2016 and have estimated it to swell up to US$2.674 mn by the end of 2025. To provide a few examples of what products are being offered by the leading vendors, Israel Chemical Ltd. or ICL produces various types of bromine products that range from drilling retardants and flame retardants to effluent control and energy storage solutions. On the other hand, Gulf Resources is one of the leading bromine producer and distributor in China.
Application-wise, the TMR report has segmented the bromine market into drilling fluids, catalysts, flame retardants, water treatment, and biocides, and highlighted flame retardants as the segment that is providing for the maximum demand. By the end of 2025, the flame retardants segment is poised to account for 32.6% of the total demand. Geographically, Asia Pacific has been detected as the most profitable region, driven by the manufacturing hub of a country in China. The Asia Pacific bromine market provided for nearly half of the total demand in 2016.
Plastic and Polymers Sustaining Strong Demand
Across the world, plastic has had a strong demand for quite a few decades and despite stringent regulations, the requirement continues to sustain. Flame retardant chemicals made from bromine are added to plastics and polymers to provide them resistance to fire and are widely used in the industries of construction, packaging, automotive, and electronics. Apart from the growing demand for polymers and plastics, the global bromine market is also gaining traction from the increased number of drilling activities across the world. In addition to that, factors such as opportunities in recycling of bromine and increasing usage of hydrogen bromide in flow batteries are expected to reflect positively over the market in the near future. On the other hand, advent of alternates such as non-halogenated flame retardants, frequent fluctuations in the prices of oil and gas, and toxicological effects are a few restraints obstructing the bromine market from achieving its true potential.
- Demand for bromine to produce a demand that will increment at a CAGR of 5.0% during the period of 2017 to 2025.
- Flame retardants the key segment of the market on the basis of application.
The information presented in this review is based on a Transparency Market Research report, titled, “Bromine Market (Application - Flame Retardants, Drilling Fluids, Biocides, Catalysts, and Water Treatment) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”
Key Segments of the Global Bromine Market
Bromine Market – Application Analysis
- Flame Retardants
- Drilling Fluids
- Water Treatment
Bromine Market – Regional Analysis
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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