HOME › Research Insight › Global Bromine Market is Driven by the Increasing Expansions, Supply Contracts & Agreements Adopted by the Leading Market Players
Global Bromine Market is Driven by the Increasing Expansions, Supply Contracts & Agreements Adopted by the Leading Market Players
The global bromine market size was of worth USD 4.74 Billion in 2015, and is expected to register a CAGR of 12.4% between 2016 and 2021. Agreements & supply contracts is the key strategy adopted by industry players to boost their growth in the bromine market. This strategy accounted for a share of 47.1%, between 2011 and 2016, of all the growth strategies adopted by the market players. The market for bromine is fragmented into derivative and application, which includes different end-use industries. Rising demand for bromine from flame retardants, biocides, and oil & gas applications, and agreements between the major market players are paving the way for fulfilling the ever changing demand from the end users. Besides agreements & supply contracts, companies adopted the strategy of expansions and new product launches to expand their business. This strategy accounted for 23.5% of all developments occurred from 2011 to 2016. The key players have also invested in R&D as their growth strategy.
North America was the most active region from 2011 to 2016, in terms of strategic initiatives. Agreements & supply contracts was the most preferred strategy in this region. Albemarle Corporation (U.S.) made several agreements & supply contracts in the region to increase their market share and serve the customers better. The major manufacturers, such as Chemtura (U.S), Jordan Bromine Ltd (Jordan), Tosoh Corporation (Japan), and Israel Chemical Ltd (Israel) are profiled in this report. These companies have adopted both organic and inorganic growth strategies such as agreements, acquisitions, and expansions. Albemarle Corporation (U.S.) and Israel Chemical Ltd (Israel) are the most active players in the bromine market.
Albemarle Corporation (U.S) is the most active player in the bromine market. It accounted for the largest share of all the developmental activities undertaken in the bromine market. The company follows dynamic growth strategies with R&D investments, expansions, agreements, mergers & acquisitions to enhance its presence in Asia-Pacific, Europe, the Middle East, and North America. Recently, the company acquired Rockwood Holdings (U.S.) to create one of the world’s premier specialty chemicals companies, with market-leading positions across four high-margin businesses: lithium, catalysts, bromine, and surface treatment.
Another company that has established a strong foothold in the bromine market is Israel Chemical Ltd (Israel). The company is focused on both inorganic growth strategy such as joint ventures and mergers & acquisitions and has enhanced its product portfolio with various developments such as joint ventures & agreements to meet the growing demand for bromine & its derivatives from its potential end-users. In September 2014, the company had done a joint venture agreement with Albemarle Netherlands Holdings B.V. (Netherlands), and Albemarle Netherlands B.V (Netherlands) for the production of Albemarles Green Crest (TM) polymeric flame retardant and ICLs FR-122P polymeric flame retardants.
Bromine Market by Derivative (Organobromine, Hydrogen Bromide, and Clear Brine Fluids), Application (Oil & Gas, Flame Retardants, Biocide, and Plasma Etching), and by Region - Global Forecast to 2021
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India