Exploring the bromine derivatives market Future Market Insights’ Latest Study Encompasses Global Industry Analysis from 2014 to 2021 and Opportunity Assessment for 2022-2029.
Bromine derivatives are very effective molecules generated from bromine that are widely employed in the water treatment, fire protection, and pharmaceutical industries. Bromine derivatives, with their efficient disinfection and oxidation capabilities, play an important role in guaranteeing safe water, flame retardant materials, and therapeutic medications, contributing to a variety of uses that benefit society and the environment.
As per the findings of the report, the global industrial bromine derivatives market is anticipated to experience substantial growth over the forecast period due increasing adoption of bromine compounds in various applications, such as flame retardants, PTA synthesis, oil & gas drilling, and others.
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The global industrial bromine derivatives market was valued at ~US$ 4 Billion in 2021 and is projected to increase at a CAGR of ~ 3.9% during the projected period of 2022 and 2029. This growth is significantly driven by the expansion of chemical, oil & gas, and other end-use industries of bromine-based chemicals.
Significant progress in numerous industry verticals, especially construction and chemicals in developing countries have resulted into increased demand for bromine derivatives. In an attempt to align with the evolving environmental policies, manufacturers are tapping into R&D and innovation space, according to the FMI study.
Global Bromine Derivatives Market: Vendor Insights
List Of Key Players Covered in the Bromine Derivatives Market are:
- Israel Chemicals Limited,
- Tosoh Corporation,
- Lanxess AG,
- Tata Chemicals Limited,
- Albemarle Corporation,
- Tetra Technologies Inc.,
- Mil-Spec Industries Corporation,
- Jordan Bromine Company,
- Hindustan Salts Limited,
- Neogen Chemicals Limited,
- DSL Chemicals (Shanghai) Co. Ltd.,
- Solaris ChemTech Industries Limited
The global bromine derivatives market is considerably dominated by some key players holding major shares of the market. Tier-1 players are collaborating with regional/local companies to increase their bromine-based product portfolio, thus, gaining a competitive edge over their peers.
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Alternative Usage of Bromine Compounds in Various Industrial Applications
The global bromine derivatives market has been segmented based on derivative, application, end-user, and regions such as North America, Latin America, Europe, South Asia, East Asia, Middle East & Africa, and Oceania.
- Consumption of bromine and its derivatives in Asia and BRIC nations is expected to grow steadily due to the underlying growth in end-use industries, such as dye manufacturing, pharmaceuticals, and specialty chemicals, and the shift in the production of consumer electronics from the U.S. and Europe to Asia. Factors mentioned above are expected to position Asia (South & East) as a major lucrative market for players in the bromine derivatives market.
- Bromine derivatives are used in almost all end-use industries, such as pharmaceuticals, automotive, electronics, and others. Bromine compounds, such as methyl bromide, are mostly used as pesticides in the agriculture sector, owing to its highly active nature even at low temperatures. Over the past few years, bromine is used as a biocide and disinfectant in drinking and wastewater treatment, and swimming pools, respectively.
- With developing oil drilling technologies, the use of bromine-based drilling solutions, also called brine fluids, are gradually spreading across the U.S., U.K., South East Asia, Africa, Middle East, and others. This is estimated to pave way for the growth of the global bromine derivatives market.
Key Segmentation
By Derivatives :
- Sodium Bromide
- Calcium Bromide
- Zinc Bromide
- TBBPA
- DPDPE
- Others
By Application :
- Flame Retardants
- Organic Intermediates
- Oil & Gas Drilling
- Biocides
- PTA Synthesis
- Others
By End Use :
- Chemical
- Construction
- Oil & Gas
- Pharmaceuticals
- Electronics
- Others
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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