HOME Research Insight New Product Launches/Developments, Agreements, and Mergers & Acquisitions are the Key Development Strategies Adopted by Leading Market Players in the Global Bromine Market



New Product Launches/Developments, Agreements, and Mergers & Acquisitions are the Key Development Strategies Adopted by Leading Market Players in the Global Bromine Market


Bromine is a non-metallic reddish volatile chemical, liquid at room temperature, having an unpleasant odor. It belongs to the halogen group in the periodic table and is obtained by treating seawater with chlorine and air. Bromine is used to manufacture several derivatives such as, organobromine, clear brine fluids, and hydrogen bromide. These derivatives are then used in applications such as, flame retardants, water treatment, Hydrogen Bromide (HBr) flow batteries, oil & gas drilling, pharmaceuticals & cosmetics, agriculture, mercury emission control, purified Terephthalic Acid (pta) synthesis, and etching, among others. The growing use of bromine in the mitigation of mercury emission and increasing demands for flame retardants due to stringent fire safety standards are the major factors driving the market. The global bromine market was USD 2.47 Billion in 2016 and is projected to reach USD 3.96 Billion by 2022, at a CAGR of 8.4% between 2017 and 2022.

The key companies manufacturing bromine were majorly involved in mergers & acquisition agreements and new product launches/developments to strengthen their positions in the market from 2013 to 2017. The bromine market is growing at a significant pace and the increase in the number of mergers & acquisitions and agreements indicates that manufacturers or end users are aiming to consolidate their positions. Companies are also extensively working on enhancing their product portfolios and introducing new, customized products.

New product launches/developments was the second-most preferred growth strategy by manufacturers. Market players are developing new products to cater to the demands of diverse end-use industries such as pharmaceuticals, oil & gas, water treatment, electronics & consumer goods, and automotive.

Major manufacturers, such as Israel Chemicals Limited (Israel), Albemarle Corporation (US), Chemtura Corporation (US), Tosoh Corporation (Japan), Tata Chemicals Ltd (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, are profiled in this report. These companies have adopted various organic and inorganic growth strategies such as new product launches/developments, agreements, and mergers & acquisitions.

Israel Chemicals Limited (Israel), Albemarle Corporation (US), Chemtura Corporation (US), Tosoh Corporation (Japan), and Gulf Technologies Inc. (China) are the leading players in the global bromine market. These companies accounted for the highest number of strategic activities, with mergers & acquisitions being the most preferred strategy.

Israel Chemicals Limited (Israel) is the largest manufacturer of bromine in the world. New product launches/developments was the most preferred strategy adopted by the company. In January 2017, ICL along with The Institute of Chemistry, Hebrew University of Jerusalem, Israel developed a unique bromine based perovskites material for use in next generation photovoltaic cells.

Albemarle Corporation is another major bromine manufacturing company involved in the production and marketing of highly-engineered specialty chemicals. Its acquisition of Rockwood Albemarle in July 2015 created one of the world’s premier specialty chemicals companies having a market-leading position across four high-margin businesses, lithium, catalysts, bromine, and surface treatment.

Related Reports:

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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