Bromine Market

Bromine Market worth $4.0 billion by 2022

The Bromine Market is estimated to grow from USD 2.5 billion in 2016 to reach approximately USD 4.0 billion by 2022, at a compound annual growth rate (CAGR) of 8.4% during the forecast period. The market is fueled by the increasing use in mercury emission control in coal-fired power plants and also due to the demand for flame retardants triggered by strict fire safety regulations.

Browse 181 market data Tables and 50 Figures spread through 163 Pages and in-depth TOC on "Bromine Market by Derivative (Organobromines, Clear Brine Fluids, Hydrogen Bromide), Application (Flame Retardants, Water Treatment, HBr Flow Batteries, Mercury Emission Control, PTA Synthesis), and Region - Global Forecast to 2022"

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Organobromine was the largest derivative of bromine in 2016.

The market has been segmented based on derivative, into three categories, namely, organobromine, clear brine fluids, and HBr. Organobromine was the largest segment of the market in 2016. It is used widely in manufacturing flame retardants for the electronics and automotive industries. Organobromine is also used for producing pesticides. The second-largest segment of the market in 2016 was clear brine fluids due to the growing shale gas recovery operations in the Asia Pacific.

Oil & gas drilling application is projected to register the highest CAGR in the market during the forecast period.

The fastest-growing application segment of the bromine market is oil & gas drilling. Clear brine fluids are used extensively in oil & gas drilling operations. They help in controlling formation pressure and reducing damages in the reservoir. The Asia Pacific is the dominant market in this segment due to the large presence of shale gas reserves in China. The increasing operations for the recovery of shale gas are likely to support the growth of the market in the oil & gas drilling segment.

The Asia Pacific accounted for the largest share of the market in 2016.

The Asia Pacific region is witnessing economic growth at a rapid pace. The consumption of bromine is increasing in several industries such as automotive, electronics, oil & gas, and construction. The demand for flame retardants has increased in the automotive and construction industries due to the growth of the infrastructure sector. All these factors collectively have contributed to the rise of Asia Pacific as the leading market for bromine. As the region is an emerging economy, bromine manufacturers are expected to leverage many market growth opportunities in the future.

The bromine market consists of several players such as Israel Chemicals Limited (Israel), Tosoh Corporation (Japan), Albemarle Corporation (US), Chemtura Corporation (US), Tata Chemicals Ltd. (India), Gulf Resources Inc. (China), Hindustan Salts Limited (India), TETRA Technologies, Inc. (US), Honeywell International Inc. (US), and Perekop Bromine (Republic of Crimea).

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