Bromine - Global Market Outlook (2017-2023)
According Stratistics MRC, the Global Bromine Market is expected tgrow from $2.35 billion in 2016 treach $4.28 billion by 2023 with a CAGR of 8.9%. Increasing consumption of bromine in various end use industries such as oil & gas, automotive, pharmaceuticals, textile, agricultural, and electronics will be one of the major factors that will have a positive impact on the growth of the market. Bromine and its derivatives are widely used in PTA synthesis, plasma etching, flame retardants, biocides, and oil & gas drilling applications. Furthermore, increasing oil and gas demand, expansion of water treatment industry, developments in oil & gas production with advance manufacturing units, rising usage as mercury reducing agents and stringent environmental policies are the factors favoring the market growth. However, environmental concerns due tits toxicological effects and developing non-halogenated flame retardants will hamper the bromine market’s growth tsome extent in the near future.
Bromine is a chemical element, one of nature’s building blocks. Bromine derivatives are essential ingredients in everything from drugs and automotive tires twater purifiers, sanitizers and additives that protect lives and property from fire. Bromine derivatives are used texplore for oil and gas, and they help us keep swimming pools and spas clean and clear. They are vital tagriculture and international trade because they protect crops from insect damage and help tkeep imported commodities free of invasive pests. Bromine is classified as a hazardous waste material under the CERCLA (Superfund) act of 1980 and the Resource Conservation and Recovery Act (RCRA) of 1976, along with numerous state and local laws and regulations. Under these rules, bromine must be disposed of in a way that minimizes potential harm thumans and the environment.
Asia-Pacific leads the bromine and its derivatives market globally with the biggest market share and is expected tgrow with a high CAGR among the other regions. The dominance of this region is due tkey players are shifting their manufacturing units from mature markets temerging markets such as APAC and ME&A. Growing demand from end use industries, increasing investments by large players and existence of large sources of raw materials in Asia pacific region are expected taugment bromine and its derivative market in coming years. Major bromine sources include Ocean waters in Japan, Dead Sea and Brine wells of China.
Some of the key players profiled in the report include Sanofi SA, Honeywell International Inc., Aquachina Chemicals, Chemtura Corporation, Israel Chemicals Limited, Solaris Chemtech, Dhruv Chem Industries, Tetra Technologies Inc., Tosoh Corporation, Albemarle Corporation, Morre-Tec Industries Inc., Jordan Bromine Company, Hindustan Salts Limited, Gulf Resources Inc., Tata Chemicals Limited, Shandong Haiwang Chemical Co., Ltd., Shandong Dadi Salt Chemical Group Co., Ltd and Shandong Ocean Chemical Co., Ltd.
• Clear Brine Fluids
• Hydrogen Bromide (BHR)
• Flame Retardants
• Oil & Gas drilling
• Organic Intermediates
• Plasma etching
• PTA synthesis
• Other Applications
• Oil and gas
• Other Verticals
• North America
Rest of Europe
• Asia Pacific
Rest of Asia Pacific
• South America
Rest of South America
• Middle East & Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements