Bromine Market by Derivative (Organobromine, Clear Brine Fluids, Hydrogen Bromide), Application (Flame Retardants, Water Treatment & Biocides, HBR Flow Batteries, Mercury Emission Control, PTA Synthesis), & Geography - Global Forecast to 2025
[261 Pages Report] The global bromine market size is projected to grow from USD 3.2 billion in 2020 to USD 4.1 billion by 2025, at a CAGR of 5.0% from 2020 to 2025. The market growth is driven by the increasing demand for bromine in flame retardants, mercury emission control, water treatment, and oil & gas drilling.
COVID-19 Impact on the Global Bromine Market
The bromine market includes major Tier I and II suppliers like Israel Chemicals Ltd. (ICL), Albemarle Corporation, Lanxess Corporation, and Tosoh Corporation, among others. These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, South America, and RoW. COVID-19 has impacted their businesses as well.
- In March 2020, ICL’s manufacturing facilities in China resumed operations post a mandatory shutdown initiated since January 2020 to control the spread of the infection
- In April 2020, Albemarle Corporation has set up a cross-functional Global Response Team to tackle the challenges presented by the new coronavirus. The Covid-19 pandemic has affected operations globally, and hence the company has restricted all business-related travel and recommended the work from home option to its employees. The company has limited its manufacturing operations and project expansions based on the severity of the infection.
- In March 2020, LANXESS increased its production capacity at its manufacturing site in Sudbury, UK, to boost the manufacture of its Vikron sanitizer. The company added a second shift at the manufacturing facility due to the increased demand for the product from China and other countries affected severely by the Covid-19 pandemic.
- In May 2020, Tosoh Corporation is developing a test reagent to detect antibodies related to SARS-CoV-2, the strain of coronavirus responsible for the Covid-19 pandemic. The company aims for a simple, high-throughput means of detecting anti-SARS-CoV-2 antibodies utilizing its patented AIA-CL series analyzers in combination with the regent it has under development
Bromine Market Dynamics
Driver: Increasing demand for flame retardants due to stringent fire safety framework
Globally, properties worth billions of dollars are lost due to fire-related accidents every year. Insurance companies have to utilize a major share of their revenue in settling claims on assets, infrastructure, and human lives lost in fire accidents. This makes anti-inflammatory agents or flame retardants crucial chemicals since they minimize the fire-related risks for almost every manufactured commodity. Flame retardants prevent fire by delaying the combustion process by forming a layer of free radicals. They either release carbon dioxide or free radicals that combine with oxygen molecules, thus arresting the oxidation process.
EU countries are focused on the implementation of stringent fire safety regulations in the automotive, electronics, consumer goods, and textile industries. Apart from the EU, countries across the globe also follow different fire safety standards and regulations. Therefore, the manufacturers of automobiles, electronics, consumer goods, and textiles need to meet the fire safety regulations of the respective countries. These safety standards and regulations have, therefore, increased the demand for flame retardants globally. According to the Danish Building Regulation 2010 (BR10), buildings must also have adequate protection against fire and fire spread.
Halogenated flame retardants constitute a group of brominated and chlorinated flame retardants. The brominated flame retardants form a major share of the global flame retardants market due to rising demand, especially in North America and Asia Pacific. Brominated flame retardants are also steadily replacing the chlorinated flame retardants, which are known to release harmful chlorine gas under certain conditions.
Brominated flame retardants are widely used in everyday commodities, such as plastics, textiles, and rubber, to reduce their flammability. Therefore, growth in the consumption of these commodities, especially in the emerging markets of Asia Pacific and the Middle East, is expected to bolster the demand for brominated flame retardants, ultimately boosting the market for bromine.
Restraint: Toxicological effects of brominated compounds
Brominated compounds, such as flame retardants, have routinely been added to consumer products, such as electronics, plastics, and many more for several decades in a successful effort to reduce fire-related injuries and property damage. Recently, concerns regarding this class of chemicals have risen because of the harmful and toxicological effect it has on health and the environment. The widespread production and use of brominated flame retardants (BFRs) lead to increased contamination of the environment. These compounds also have an adverse effect on animals and wildlife. However, the current toxicology databases that exist are inadequate to understand the risk. Many of the studies that do exist involve commercial mixtures, but do not represent human exposure. The future course of such studies has to be focused toward the congeners, and potentially their metabolites or breakdown products, to understand the risk from commercially-used bromine derivatives.
Opportunity: Increasing use of hydrogen bromide in flow batteries
Hydrogen bromide flow batteries are included under the category of membrane-less flow batteries with a high-power density. EnStorage Inc. (Israel), a developer of large-scale electricity storage solutions, produced grid-connected 50.0 KW hydrogen-bromine (HBr) flow batteries, which were connected at the company’s test site in southern Israel to provide up to 100.0 kWh of energy. The grid became operational in March 2013. EnStorage Inc. flow batteries utilize HBr and H2 as storage chemicals. Hydrogen-bromine flow batteries are a reliable source of sustainable power for large scale industrial units. They are currently being used as reliable energy storage solutions in various industrial units around the globe.
Challenge: Significant fluctuation in oil & gas prices
In the oil & gas industry, clear brine fluids (CBF) are used extensively in well-drilling activities completion and workover operations. The business of CBF significantly depends on the prices of oil and gas. The Gulf of Mexico rig count is a useful indicator of the future demand for CBF products. The Gulf of Mexico rig count dropped during 2015 as a result of low oil and natural gas prices and remained low in early 2016. Therefore, the demand for CBF products in onshore and international markets was affected by the low prices. There was a significant drop in the prices of natural gas and oil since the beginning of 2014. As a result, drilling activities and capital expenditure levels declined in the domestic and international markets. The decline in activity in the natural gas and oil exploration and production industries resulted in a decline in the demand for CBF products and the services associated with them. An expected rebound in oil & gas prices in the near future will bring growth opportunities for CBF, thus driving the bromine market.
Based on application, flame retardants segment accounted for the largest market share in 2019
Based on the application, the flame retardants segment accounted for the largest share of the bromine market in 2019. Brominated flame retardants (BFRs) are bromine-containing compounds that are added to substances to inhibit or reduce their rate of combustion. Stringent fire safety regulations implemented by the regulatory bodies augment the consumption of flame retardants in various end-use industries, such as electronics & consumer goods, building & construction, automotive, textile, rubber, and elastomer. Although brominated flame retardants are less preferred nowadays due to the growing environmental concerns associated with them, their widespread application in the industries mentioned above is sustaining their market and increasing their demand by the day.
Based on the derivative, the organobromine segment accounted for the largest market share in 2019
Based on derivative, the organobromine segment accounted for the largest share in 2018, as it is widely used in the manufacturing of brominated flame retardants, pesticides, fumigants, and biocides for water treatment. The top players in the bromine market, such as Albemarle (US) and Israel Chemicals Ltd. (Israel), are taking initiatives to develop and market polymeric alternatives to hexabromocyclododecane (HBCD) flame retardants, which are being phased out due to toxicological concerns. The manufacturers of PVC in cable mantling, for instance, are now shifting toward the use of polymers that do not use brominated flame retardants.
Asia Pacific accounted for the largest share of the bromine market in 2019
By region, Asia Pacific is estimated to be the largest market for bromine in 2020. The demand for bromine in this region is mainly propelled by its increasing use in China, Japan, and India. Increasing infrastructural development and the rise in the disposable income of the middle-class population in Asia Pacific have boosted the demand for flame retardants, which are used extensively in insulation and fabrication of plastic and electronic components. China is expected to be the dominant and fastest-growing market for bromine in the Asia Pacific region, mainly due to the escalating demand for brominated flame retardants in the country. China, which had banned the export of bromine and its related compounds, is focusing only on imports to meet its domestic requirements.
Key Market Players
Israel Chemicals Limited (Israel), Albemarle Corporation (US), LANXESS Corporation (Germany), Tosoh Corporation (Japan), Tata Chemicals Limited (India), Gulf Resources Inc. (China), and TETRA Technologies, Inc. (US), are some of the leading players operating in the bromine market.
Scope of the Report:
|
Report Metric |
Details |
|
Market Size Available for Years |
2016–2025 |
|
Base Year Considered |
2019 |
|
Forecast Period |
2020–2025 |
|
Forecast Units |
Value (USD Billion), Volume (Kiloton) |
|
Segments Covered |
Application and Derivative |
|
Geographies Covered |
North America, Asia Pacific, Western Europe, Central & Eastern Europe the Middle East & Africa, and South America |
|
Companies Covered |
Israel Chemicals Limited (Israel), Albemarle Corporation (US), LANXESS Corporation (Germany), Tosoh Corporation (Japan), Tata Chemicals Limited (India), Gulf Resources Inc. (China), TETRA Technologies, Inc. (US), Hindustan Salts Limited (India), Honeywell International Inc. (US), and Perekop Bromine (Republic of Crimea), among others |
This research report categorizes the bromine market based on application, derivative, and region and forecasts revenues as well as analyzes trends in each of these submarkets.
Based on the application:
- Flame Retardants
- Oil & Gas Drilling
- PTA Synthesis
- Water Treatment & Biocides
- Mercury Emission Control
- Pesticides
- HBr Flow Batteries
- Plasma Etching
- Pharmaceuticals
- Others (Photography, Chemical Intermediates Synthesis, Adhesive Tapes, Rubbers, Fumigant Synthesis and Elastomers)
Based on the derivative:
- Organobromine
- Clear Brine Fluids
- Hydrogen Bromide
Based on the region:
- Asia Pacific
- North America
- Western Europe
- Middle East & Africa
- Central & Eastern Europe
- South America
Recent Developments
- In September 2019, Israel Chemicals Ltd. announced its plan to increase its bromine compounds capacity to approximately 25,000 metric tons annually. The company will invest approximately USD 50 million for this expansion and expects a return of USD 110 million. This expansion comes amidst the company’s strategic agreements signed with many customers from Asia.
- In July 2019, Lanxess Corporation started using Emerald Innovation 3000 as a flame retardant for expanded (EPS) and extruded (XPS) polystyrene instead of hexabromocyclododecane (HBCD), which has now been banned. Emerald Innovation 3000 was earlier majorly used as a flame retardant in electronics and electrical applications. This product, manufactured via the bromination of an alternating polystyrene butadiene copolymer, helped decrease the use of hexabromocyclododecane (HBCD), which is hazardous for health.
Frequently Asked Questions (FAQ’s):
- What is bromine?
Bromine is a highly toxic, volatile chemical that exists in a reddish-brown liquid state at room temperature.
- What are the major derivatives of bromine?
Bromine is used to synthesize three major derivatives, namely, organobromine, clear brine fluids, and hydrogen bromide (hydrobromic acid).
- What are the most promising high-growth opportunities for the bromine market by end-use industry?
The bromine market is expected to be fueled primarily by the manufacturing of flame retardants, oil & gas drilling, and purified terephthalic acid synthesis. Apart from these, bromine is also used for water treatment in HBr flow batteries, pharmaceuticals, pesticides, mercury emission control, and plasma etching.
- Which are the key countries expected to fuel the bromine market?
The bromine market is expected to grow the fastest in China, followed by the US, India, and Israel.
- What are the key driving factors for the bromine market? Why?
The increasing use of bromine in mercury emission mitigation in coal-fired power plants; the rising demand for flame retardants due to stringent fire safety framework is expected to augment the market growth further.
- What are the major challenges which may hinder the growth of the bromine market?
Toxicological effects associated with bromine, the emergence of non-halogenated flame retardants, and fluctuations in oil & gas prices pose significant challenges for the growth of the bromine market.
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Table of contents
1 Introduction
1.1 Objectives of the study
1.2 market definition
1.3 market scope
1.3.1 Markets covered
FIGURE 1 Bromine Market SEGMENTATION
1.3.2 years considered for the study
1.4 currency
1.5 package size
1.6 limitations
1.7 STAKEHOLDERS
2 Research Methodology
2.1 market definition and scope
2.2 base number calculation
2.2.1 supply side approach
2.3 forecast number calculation
2.4 market engineering process
2.4.1 top-down approach
2.5 research data
2.5.1 secondary data
2.5.1.1 Key data from secondary sources
2.5.2 primary data
2.5.2.1 Key data from primary sources
2.5.2.2 Key industry insights
2.5.2.3 Breakdown of primary interviews
2.6 research assumptions
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES IN BROMINE market
4.2 BROMINE Market, By DERIVATIVE
4.3 bromine market in asia pacific, by application and country
4.4 BROMINE MARKET: major countries
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 Market dynamics
5.2.1 DRIVERS
5.2.1.1 Growing use of bromine in mercury emission mitigation
5.2.1.2 Increasing demand for flame retardants due to stringent fire safety framework
5.2.1.3 Extensive consumption of bromine in diverse applications
5.2.1.4 Increased use of bromine as a disinfectant due to the COVID-19 pandemic
5.2.2 RESTRAINTS
5.2.2.1 Toxicological effects of brominated compounds
5.2.2.2 Emergence of non-halogenated flame retardants
5.2.3 opportunities
5.2.3.1 Recycling of bromine
5.2.3.2 Increasing use of hydrogen bromide in flow batteries
5.2.4 Challenges
5.2.4.1 Significant fluctuations in oil & gas prices
5.2.4.2 Decrease in oil & gas production due to the Covid-19 pandemic
5.2.4.3 Supply chain, trade, and economic disruptions due to the COVID-19 pandemic
5.3 Porter’s five forces analysis
5.3.1 bargaining power of suppliers
5.3.2 Threat of New Entrants
5.3.3 Threat of Substitutes
5.3.4 bargaining power of Buyers
5.3.5 Intensity of Rivalry
5.4 MACROECONOMIC OVERVIEW AND TRENDS
5.4.1 introduction
5.4.2 trends and Forecast of GDP
5.4.3 trendS of OIL & NATURAL GAS PRICES
6 Bromine Market, BY DERIVATIVE
6.1 Introduction
6.2 ORGANOBROMINE
6.2.1 Organobromine derivative segment accounted for the largest market share
6.2.1.1 COVID-19 impact on organobromine
6.3 CLEAR BRINE FLUIDS
6.3.1 Clear brine fluids projected to be the fastest-growing derivative segment in the global bromine market
6.3.1.1 COVID-19 impact on clear brine fluids
6.4 HYDROGEN BROMIDE (Hbr)
6.4.1 Growth in the chemical, plastics, and pharmaceutical industries is expected to drive the HBr derivative segment
6.4.1.1 COVID-19 impact on hydrogen bromide
7 BROMINE MARKET, By APPLICATION
7.1 Introduction
7.2 FLAME RETARDANTS
7.2.1 Flame retardants is the largest application segment of the bromine market
7.2.1.1 Impact of COVID-19 on flame retardants
7.3 WATER TREATMENT & biocides
7.3.1 Water treatment is the fourth-largest application segment in the global bromine market
7.3.1.1 Impact of COVID-19 on water treatment & biocides
7.4 Mercury emission control
7.4.1 Mercury emission control to be one of the fastest-growing application segments in the bromine market
7.4.1.1 Impact of COVID-19 on mercury emission control
7.5 OIL & GAS DRILLING
7.5.1 Oil & gas drilling accounted for the second-largest share in the global bromine market
7.5.1.1 Impact of COVID-19 on oil & gas drilling
7.6 HBR FLOW BATTERIES
7.6.1 Growing demand for HBR flow batteries in Asian countries, such aS China & Japan, is expected to drive the HBR application segment
7.6.1.1 Impact of COVID-19 on HBr flow batteries
7.7 PTA SYNTHESIS
7.7.1 PTA synthesis was the third-largest application segment of the global bromine market
7.7.1.1 Impact of COVID-19 on PTA synthesis
7.8 PESTICIDES
7.8.1 Growing demand from countries such as China and India is expected to drive the market for bromine IN the pesticides application segment
7.8.1.1 Impact of COVID-19 on pesticides
7.9 PLASMA ETCHING
7.9.1 Plasma etching is among the fastest-growing application segments in the global bromine market
7.10 Pharmaceuticals
7.10.1 High demand from pharmaceutical industry, for chemical compounds manufacturing and drug formulations, drives the market for bromine in the pharmaceuticals application segment
7.10.1.1 Impact of COVID-19 on pharmaceuticals
7.11 Others
7.11.1 Impact of COVID-19 on other applications
8 BROMINE market, by region
8.1 Introduction
8.2 Asia pacific
8.2.1 impact of covid-19 on the asia pacific
8.2.2 china
8.2.2.1 China accounted for the largest share in the global bromine market
8.2.2.2 Impact of COVID-19 on China
8.2.3 JAPAN
8.2.3.1 Japan accounted for the second-largest share in the Asia Pacific bromine market
8.2.3.2 Impact of COVID-19on Japan
8.2.4 INDIA
8.2.4.1 Growing demand from flame retardants, pesticides, and water treatment application segments fuels the growth of the market for bromine in India
8.2.4.2 Impact of COVID-19 on India
8.2.5 South Korea
8.2.5.1 South Korea accounted for the fourth-largest share in the Asia Pacific bromine market
8.2.5.2 Impact of COVID-19 on South Korea
8.2.6 TAIWAN
8.2.6.1 Growing demand from the flame retardants application segment has fueled the growth of the market for bromine in Taiwan
8.2.6.2 Impact of COVID-19 on Taiwan
8.2.7 rest of asia pacific
8.2.7.1 Impact of COVID-19 on the Rest of Asia Pacific
8.3 North America
8.3.1 impact of covid-19 on north america
8.3.2 US
8.3.2.1 US accounted for the largest share in the North American bromine market
8.3.2.2 Impact of COVID-19 on the US
8.3.3 CANADA
8.3.3.1 Canada accounted for the second-largest share in the North American bromine market
8.3.3.2 Impact of COVID-19 on Canada
8.3.4 MEXICO
8.3.4.1 Growing demand from flame retardants application segment fuels the growth of the market for bromine in Mexico
8.3.4.2 The impact of COVID-19 on Mexico
8.4 western EUrope
8.4.1 impact of covid-19 on western europe
8.4.2 GERMANY
8.4.2.1 Germany accounted for the largest share in the Western European bromine market
8.4.2.2 Impact of COVID-19 on Germany
8.4.3 france
8.4.3.1 France accounted for the third-largest share in the Western European bromine market
8.4.3.2 Impact of COVID-19 on France
8.4.4 UK
8.4.4.1 UK accounted for the second-largest share in the Western European bromine market
8.4.4.2 Impact of COVID-19 on the UK
8.4.5 rest of western europe
8.4.5.1 Impact of COVID-19 on Rest of Western Europe
9 Central & Eastern Europe
9.1 impact of covid-19 on Central & eastern europe
9.1.1 RUSSIA
9.1.1.1 Russia accounted for the largest share in the Central and Eastern European bromine market
9.1.1.2 Impact of COVID-19 on Russia
9.1.2 TURKEY
9.1.2.1 Growing demand from flame retardants application segment fuels growth of the market for bromine in Turkey
9.1.2.2 Impact of COVID-19 on Turkey
9.1.3 REST OF CENTRAL & EASTERN EUROPE
9.1.3.1 Impact of COVID-19 on Rest of Central & Eastern Europe
9.2 Middle East & AFRICA
9.2.1 impact of covid-19 on the middle east & africa
9.3 South AMERICA
9.3.1 impact of covid-19 on south america
9.3.2 BRAZIL
9.3.2.1 Brazil accounted for the largest share in the South America bromine market
9.3.2.2 Impact of COVID-19 on Brazil
9.3.3 ARGENTINA
9.3.3.1 Argentina accounted for the second-largest share in the South America bromine market
9.3.3.2 Impact of COVID-19 on Argentina
9.3.4 Rest of SOUTH america
9.3.4.1 Impact of COVID-19 on Rest of South America
10 COMPETITIVE LANDSCAPE
10.1 Introduction
10.2 Competitive leadership mapping
10.2.1 dynamic DIFFERENTIATORS
10.2.2 VISIONARY LEADERS
10.2.3 innovators
10.2.4 emerging companies
10.3 competitive benchmarking
10.3.1 STRENGTH OF Product PORTFOLIO (25 PLAYERS)
10.3.2 Business strategy EXCELLENCE (25 PLAYERS)
10.4 MARKET RANKING OF KEY PLAYERS
10.4.1 LANXESS CORPORATION (US)
10.4.2 ISRAEL CHEMICALS LIMITED (ISRAEL)
10.4.3 ALBEMARLE CORPORATION (US)
10.4.4 TOSOH CORPORATION (JAPAN)
10.4.5 TATA CHEMICALS LIMITED (INDIA)
10.4.6 TETRA TECHNOLOGIES INC. (CHINA)
11 company profiles (Business overview, Products offered, Recent Developments, Covid-19 Related Developments, SWOT Analysis, MNM view, Current Focus and Strategies, Threat from Competition, Right to Win)
11.1 Israel Chemicals Ltd.
11.2 ALbemarle Corporation
11.3 lanxess CORPORATION
11.4 TOSOH CORPORATION
11.5 TETRA TECHNOLOGIES, INC.
11.6 GULF RESOURCES INC.
11.7 TATA CHEMICALs LIMITED
11.8 HINDUSTAN SALTS LIMITED
11.9 Honeywell International Inc.
11.10 Perekop Bromine
11.11 Additional company profiles
11.11.1 SANOFI SA
11.11.2 AQUACHINA CHEMICALS
11.11.3 Morre-Tec Industries Inc.
11.11.4 Solaris Chemtech industries ltd.
11.11.5 Agrocel Industries LIMITED
11.11.6 Shandong Yuyuan Group Co., Ltd.
11.11.7 Shandong Haiwang Chemical Co., Ltd.
11.11.8 Shandong Haihua Group Co., Ltd.
11.11.9 Shandong Ocean Chemical Co., LTD.
11.11.10 Shandong Weifang Longwei Industrial Co., Ltd.
11.11.11 Shandong Runke Chemical Engineering Co., Ltd.
11.11.12 Dhruv Chem Industries
11.11.13 Shandong Lubei Chemical Co., Ltd.
11.11.14 Shandong Dadi Salt Chemical Group Co., Ltd.
11.11.15 Shandong Haoyuan Group
*Details on Business overview, Products offered, Recent Developments, Covid-19 Related Developments, SWOT Analysis, MNM view, Current Focus and Strategies, Threat from Competition, Right to Win might not be captured in case of unlisted companies.
12 Adjacent & Related Markets
12.1 INTRODUCTION
12.2 limitations
12.3 flame retardant market
12.3.1 Market Definition
12.3.2 Market overview
12.4 Flame retardant market, by end-use industry
12.4.1 building & construction
12.4.2 electronics & appliances
12.4.3 automotive & transportation
12.4.4 wires & cables
12.4.5 textiles
12.4.6 others
12.5 Flame retardant market, by region
12.5.1 Asia Pacific
12.5.2 North America
12.5.3 Western Europe
12.5.4 Central & Eastern Europe
12.5.5 Middle East & Africa
12.5.6 South America
12.6 water treatment chemicals market
12.6.1 Market Definition
12.6.2 Market overview
12.7 water treatment chemicals, by end-use industry
12.7.1 municipal
12.7.2 power
12.7.3 Oil & gas
12.7.4 mining
12.7.5 chemical
12.7.6 food & beverage
12.7.7 pulp & paper
12.7.8 others
12.8 water treatment chemicals market, by region
12.8.1 Asia Pacific
12.8.2 North America
12.8.3 Europe
12.8.4 Middle East & Africa
12.8.5 South America
12.9 battery energy storage system market
12.9.1 Market Definition
12.9.2 Market overview
12.1 battery energy storage system market, by end-use industry
12.10.1 residential
12.10.2 non-residential
12.10.3 utilities
12.10.4 other applications
12.11 battery energy storage system market, by region
12.11.1 Asia Pacific
12.11.2 North America
12.11.3 Europe
12.11.4 rest of the world (row)
13 Appendix
13.1 insights of industrY experts
13.2 Discussion Guide
13.3 Knowledge Store: MarketsandMarkets subscription portal
13.4 AVAILABLE CUSTOMIZATIONS
13.5 Related Reports
13.6 Author details
This study involved four major activities in estimating the current size of the bromine market. Exhaustive secondary research was undertaken to collect information on the bromine market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across the bromine value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the overall size of the market. After that, the market breakdown and data triangulation procedures were used to estimate the sizes of different segments and subsegments of the bromine market.
Secondary Research
As a part of the secondary research process, various secondary sources such as Hoovers, Bloomberg, BusinessWeek, Reuters, and Factiva were referred for identifying and collecting information for this study on the bromine market. Secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, authenticated directories, and databases.
Secondary research was mainly conducted to obtain key information about the supply chain of the industry, the monetary chain of the market, the total pool of players, and market classification and segmentation according to industry trends to the bottom-most level, regional markets, and key developments undertaken from both, market- and technology oriented perspectives.
Primary Research
As a part of the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report on the bromine market. Primary sources from the supply side included industry experts such as chief executive officers (CEOs), vice presidents, marketing directors, technology and innovation directors, and related key executives from various key companies and organizations operating in the bromine market. Primary sources from the demand side included directors, marketing heads, and purchase managers from various end-use industries. Following is the breakdown of the primary respondents.
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Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the bromine market. These methods were also used extensively to estimate the size of various segments and subsegments of the market. The research methodology used to estimate the market size included the following:
- The key players in the industry and markets were identified through extensive secondary research.
- The supply chain of the industry and the market size, in terms of value, were determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall size from the market size estimation process explained above, the total market was split into several segments and subsegments. Data triangulation and market breakdown procedures were used, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments of the market. The data was triangulated by studying various factors and trends from both the demand and supply sides. In addition to this, the market size was validated using both top-down and bottom-up approaches.
Objectives of the Report
- To define, describe, and forecast the bromine market based on application, derivative, and region
- To forecast the size of the market and its segments with respect to six main regions, namely, North America, Western Europe, Central & Eastern Europe, Asia Pacific, the Middle East & Africa, and South America, along with their respective key countries
- To provide detailed information regarding the major factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the market
- To strategically analyze micro markets with respect to individual growth trends, future prospects, and contribution to the total market
- To analyze the opportunities in the market for stakeholders and provide a detailed competitive landscape for market leaders
- To strategically profile key players and comprehensively analyze their market share and core competencies
- To track and analyze competitive developments, such as expansions, new product developments, agreement, investments, and merger & acquisitions, in the bromine market
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- Further breakdown of the Asia Pacific and Europe bromine markets
- Product matrix, which gives a detailed comparison of the product portfolio of each company
- Detailed analysis and profiles of additional market players (up to 3)
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