Adoption of Organobromine to Be Key Trend Boosting Global Bromine Market
The global bromine market is prognosticated to experience a positive growth curve in the coming years, according to analysts at Transparency Market Research (TMR) report. With a handful vendors in the offing, the market’s business landscape is currently consolidated. The established vendors in the global bromine market enjoy supremacy over smaller vendors. This could be accounted to their extensive geographical reach, and voluminous production capacities. These vendors are quickly seen adapting to market changes, armed with an armada of financial and technological resources.
A key strategy targeted by vendors in the global bromine market in order to strengthen their position is offering of competitive pricing models and efficient product development. Vendors are further seen allocating resources towards upgrading their product portfolio with the latest technological advances.
Leading vendors in the global bromine market are Jordan Bromine Company, Gulf Resources Inc., Israel Chemical Ltd. (ICL), and Albemarle Corporation.
TMR’s projections suggest that the global bromine market worth US$1.74 bn in 2016, will reach a value of US$2.674 bn by 2025. Over the forecast period 2017 to 2025, the bromine market is anticipated to rise at a 5.0% CAGR.
With a leading market share of 32.6%, the application segment of flame retardants is expected to remain lucrative over the forecast period. Geographically, Asia Pacific is expected to emerge as a leading regional market in the global bromine market over the coming years. This could be ascribed to the regions burgeoning manufacturing sector.
Escalating Demand from Oil and Gas Sector to Bolster Market
In a wide range of applications, bromine and its derivatives are used, for example oil and gas boiling, flammable retardant products, biocides, plasma etching and PTA synthesis (mercury emission control and water treatment). As a result of its implementation in oil and gas drilling pools, demand for brine fluids was projected to grow considerably in order to reduce the damage of the well-being and manufacturing area. As a major market driving force due to the demand of product derivatives as a complementary fluid, strong growth in the oil and gas boiler sector contributes to mitigating potential damage to wells.
Adoption of Organobromines to Boost Opportunities
Compounds of organobromine are used in the use of flame retardants and biocides. Some organobromine derivatives are used in the pool, spa and water industry for water treatment applications. The derivatives of organobromines reduce algae, bacteria and odor formation and growth in water. In addition, compounds of organobromines are used for the production of dyes. Organobromines also are used to produce pharmaceutical products like hypnotics, anticonvulsants and sedatives as intermediates. The high and growing use of organobromines should open avenues for the world's bromine suppliers to grow.
Safety Regulations may Limit Development
There are a wide range of applications in the product so there is a chance of future demand imbalances. The potential health and environmental hazards, also in regions with rigorous environmental and safety requirements, are likely to interrupt their growth. The demand for products is growing, though it is prohibited in Europe as it is toxic in nature, for health and the environment. But significant demand from various end-use industries is likely to overcome any limitations on the market and strengthen the global bromine market.
This review is based on TMR’s 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.”
The global bromine market is segmented as follows:
- Flame Retardants
- Drilling Fluids
- Water Treatment
- North America
- The U.S.
- Rest of North America
- The U.K.
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Middle East and Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
- South America
- Rest of South America
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to industry leaders, consultants, and strategy professionals.
Our reports are single-point solutions for industries to grow, evolve, and mature. Our significant-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These demands are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for client-specific problems with right methodology of research is the key to help enterprises reach right decision.
U.S. Office Contact
7 of 10 large enterprizes view our ToC to take the right decision.View Report ToC