The Bromine is the naturally existing element which can be found in lakes, sea, and oceans. An enormous amount of bromine is found in the Dead Sea. It is mainly used as catalysts and reactants in various industries for the manufacturing of pharmaceuticals products, flame retardants, antiseptics, agrochemicals, and many others. The growth in the use of bromine in regulatory mercury emissions and the surge in demand for halogenated flame retardants have encouraged the global bromine derivatives market growth during the forecast period.
At a compound annual growth rate of 5.5%, the size of the worldwide Bromine Derivatives market is projected to reach $1,354.8 Billion in 2030.
The report aims to estimate the size of the market for Bromine Derivatives and the future growth potential of the market for Bromine Derivatives across various segments, such as derivatives and application industry and the area.
The base year considered for the analysis is 2019 and from 2020 to 2028 the market size is estimated. The Asia Pacific arose as one of the major consumers of bromine derivatives in terms of volume and the demand is projected to grow speedily in the given timeframe. The growing use of bromine derivatives in China and India along with rising industrial activities is expected to propel the target market in the coming years. The base year considered for the report is 2019, whereas the forecast period considered for the report is 2020–2028.
The increasing number of activities in the oil and gas industries which implements techniques such as horizontal drilling and hydraulic fracturing, which mainly needs bromine derivatives as the drilling fluids, and similarly for removing petrol product driving the target market growth. Furthermore, the growing use of bromine derivatives in numerous industries such as electronics, pharmaceuticals, and construction also inclines to boost the target market growth. However, the government has forced severe rules and laws on the usage of some bromine flame retardants hampers the target market growth. For instance, regulatory bodies for example the European Chemicals Agency (ECHA) and the U.S. Environmental Protection Agency (EPA) imposed fast and stricter rules to discontinue the use of methyl bromide in fumigants.
Bromine Derivatives Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||$1,354.8 Billion|
|Growth Rate||CAGR of 5.5% during 2021-2030|
|Segment Covered||by Product Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||PACIFIC ORGANICS PVT Ltd (India), Albemarle Corporation (US), Honeywell International Inc (US), LANXESS (Germany), APK (India), Neogen Chemical Limited (India), TETRA Technologies, Inc (US), Tosoh Corporation (Japan), ICL (Israel), and BEACON ORGANOSYS (India).|
Key Segments of the Global Bromine Derivatives Market
Application Overview, 2018-2028 (USD Million)
- Water Treatment
- PTA Synthesis
- Oil & Gas Drilling
- Mercury Emission Control
Derivatives Overview, 2018-2028 (USD Million)
- Organ bromine
- Hydrogen Bromide
- Clear Brine Fluids
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Important Companies in Global Bromine Derivatives market
- Albemarle Corporation
- Tata Chemicals Ltd.
- Lanxess Corporation
- Honeywell International Inc.
- Tosoh Corporation
- Israel Chemicals Limited
- Tetra Technologies Inc.
- Hindustan Salts Ltd.
- Jordan Bromine Company Ltd.
- Morre-Tec Industries, Inc.
- Beacon Organosys
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of Bromine Derivatives Market Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on Bromine Derivatives Market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the field service management industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on derivatives and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Bromine Derivatives Market. The report will benefit every stakeholder involved in the Bromine Derivatives Market.
- Managers within the chemicals industry looking to publish recent and forecasted statistics about Bromine Derivatives Market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global Bromine Derivatives Market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.