The Global Bromine Market is majorly driven by rising demand in oil and gas industry, according to our research report “Global Bromine Market Outlook 2023”. The global bromine market is segmented into derivative type such as clear brine fluids, hydrogen bromide, and organobromines. Among these segments, organobromines is expected to be the fastest growing market owing to wide-scale application and effective derivative of bromine.
The global bromine market is predicted to flourish significantly at a CAGR of 11.7% over the forecast period i.e. 2016-2023. Moreover, the market of bromine accounted for USD 4.52 Billion in 2015 globally.
The bromine market of Asia-Pacific is estimated to grow significantly over the forecast period owing to presence of emerging economies such as India, China, and others. Moreover, the market accounted the largest revenue share of 30% in 2015 in overall bromine market across the globe.
Rising Demand of Bromine in Oil and Gas Industry:
Factors such as increasing investments in oil and gas extraction industries, introduction of effective flame retardants, technological advancements in bromine derivatives, researches in pharmaceutical industries to develop effective drugs for treatment are prompting the demand for Bromine over the forecast period i.e. 2016-2023.
Rapid Growth Electronic Devices:
Rapid growth in electronic industries and increasing demand for polymer fabrication in order to develop efficient electronic devices across the globe is anticipated the growth of bromine market.
However, high toxicity of brominated flame retardants, rising environmental concern towards water and soil and presence of strict regulatory for use of bromine are some of the factors likely to inhibit the growth of bromine market in near future.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the Global Bromine Market which includes company profiling of Albemarle Corporation, Chemtura, Jordan Bromine Ltd, Tosoh Corporation, etc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Global Bromine Market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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