Bromine Derivatives Market Size & Share, by Derivatives (Sodium Bromide, Calcium Bromide, Zinc Bromide, Hydrogen Bromide); End User (Chemical, Construction, Oil & Gas, Pharmaceuticals, Electronics); Application (Flame Retardants, Safety Apparel, Organic Intermediates, Oil & Gas Drilling, Biocides, PTA Synthesis) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5769
  • Published Date: May 02, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Bromine Derivatives market size is poised to reach USD 58 billion by the end of 2036, growing at a CAGR of 8% during the forecast timeframe, i.e., 2024-2036. In the year 2023, the industry size of the bromine derivatives was valued at USD 23 billion. This boost is anticipated by the slated demand for flame retardants owing to the growing construction industry. According to a report, the construction industry is set to register a gain of about 1.4 trillion USD by 2025.

Moreover, flame retardants play a substantial role in influencing the fire resistance of various materials used in construction, such as insulation materials, and plastics, coupled with coatings. In addition, credited to the lucrative growth in construction activities worldwide and a significant emphasis on safety standards, the demand for bromine-based flame retardants has witnessed a substantial surge.

Additionally, the estimated advancements in urbanization along with population expansion, more buildings and structures are being observed, attributed to which there is significant awareness of the need for enhanced fire safety measures. Bromine derivatives are chemical compounds that contain bromine as part of their molecular structure, they itself is a halogen element and are widely used in various industries, including pharmaceuticals, flame retardants, oil & gas drilling, and water treatment.


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Bromine Derivatives Sector: Growth Drivers and Challenges

Growth Drivers

  • Rising automotive sector - The automotive & transportation continuous expansion, coupled with strict safety regulations, will account for the increased adoption of bromine derivatives, as these derivatives are employed in manufacturing flame-retardant materials used in automotive interior materials, wiring, and other components.

    Furthermore, as safety standards become more rigorous globally, the automotive sector has turned to bromine-based solutions to enhance fire safety in vehicles, contributing to the overall growth of the bromine derivatives market size expansion. According to a report, the aftermarket of domestic auto components is projected to cross about 14 billion USD by 2028.
  • Increasing demand for electronics and consumer goods industry - The electronics and consumer goods industry has witnessed a surge in the demand for bromine derivatives, mainly due to their application in flame-retardant materials which are used in electronic devices and several household appliances, with an increasing global reliance on electronic products, such as smartphones, laptops, and televisions, the need for fire-resistant components is increasing.
  • Expansion in oil & gas drilling activities - The oil & gas industry extensively uses bromine derivatives, especially in drilling fluids, to enhance drilling efficiency and stability. With the exploration of new oil & gas reserves globally, the demand for bromine-based drilling fluids is at a surge, as their unique properties of bromine derivatives make them valuable in maintaining optimal conditions during drilling operations, thereby contributing to drive the bromine derivatives market. Bromine derivatives find applications in pharmaceutical manufacturing, where they are used as intermediates in the synthesis of various drugs.

Challenges

  • Environmental concerns and regulations - The increasing strictness and regulations about the environmental impact of the bromine compounds have been associated with environmental and health concerns, leading to regulatory restrictions. Along with high environmental standards significant investments in research and development to create more sustainable and eco-friendly bromine derivatives. The industry faces the challenge of potential substitution by alternative materials, as environmental awareness grows, industries may seek alternatives to bromine derivatives that are seen as more environmentally friendly.
  • Fluctuations in raw material prices
  • Global economic uncertainties.

Bromine Derivatives Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

8%

Base Year Market Size (2023)

USD 23 Billion

Forecast Year Market Size (2036)

USD 58 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Bromine Derivatives Segmentation

Derivatives (Sodium Bromide, Calcium Bromide, Zinc Bromide, Hydrogen Bromide)

The sodium bromide segment is estimated to gain the largest market demand of about 41% in 2036. The reason behind this growth is its application in the oil & gas industry, as sodium bromide is a major key component in the formulation of drilling fluids, where it enhances the performance of drilling operations by stabilizing wellbores while controlling pressure.

According to a report, there would be a rise of about 6% in global oil demand between 2022 and 2028, and this would cross about 105.7 million barrels per day, such expansion of oil & gas drilling activities acts as a major growth driver for sodium bromide.

Additionally, sodium bromide finds application in the pharmaceutical industry, particularly in the production of sedatives and anticonvulsant medications. The pharmaceutical sector's continuous growth, driven by an aging global population and increased healthcare needs, contributes to the rising demand for sodium bromide. Its role as an active pharmaceutical ingredient (API) in certain medications positions it as a growth driver in this segment.

End User (Chemical, Construction, Oil & Gas, Pharmaceuticals, Electronics)

The chemical segment is set to garner a notable share shortly and is likely to remain the second largest segment in the end-user of the bromine derivatives market expansion impelled by the growth in the healthcare and pharmaceutical sector. Chemicals serve as essential raw materials in the production of pharmaceuticals, including active pharmaceutical ingredients (APIs) and intermediates, coupled with the continuous advancements in medical treatments and the global demand for healthcare solutions, the chemical industry has experienced growth as a key supplier to the pharmaceutical landscape.

Additionally, companies that follow these standards not only avoid legal issues but also gain trust and credibility in the market revenue. The growth of the chemical segment is propelled by the increasing demand for specialty chemicals. Specialty chemicals cater to specific applications and industries, offering unique properties and functions.

Our in-depth analysis of the market includes the following segments:

     Derivatives

  • Sodium Bromide
  • Calcium Bromide
  • Zinc Bromide
  • Hydrogen Bromide

     End-user

  • Chemical
  • Construction
  • Oil & Gas
  • Pharmaceuticals
  • Electronics

     Application

  • Flame Retardants
  • Safety Apparel
  • Organic Intermediates
  • Oil & Gas Drilling
  • Biocides
  • PTA Synthesis

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Protective Relay Industry - Regional Synopsis

APAC Market Statistics

The bromine derivatives market in the APAC region is expected to hold the largest share with a revenue share of about 47% by the end of 2036. The landscape growth in the region is expected on account of the surge in rapid industrialization and significant infrastructure development, as countries in the region continue to invest in construction projects, the demand for bromine derivatives, especially flame retardants for building materials, increases.

According to a report, APAC is estimated to gain a growth of about USD 2.5 trillion in the construction landscape, in the coming years. The Asia Pacific region is a hub for electronics manufacturing, with several countries being major contributors to global electronic production. Bromine derivatives, particularly in flame retardants and other electronic applications, are in high demand in the electronics industry, and due to the continuous growth of electronic manufacturing in the region, they serve as a significant driver for the market.

North America Market Analysis

The North American region will also encounter a huge influence on the bromine derivatives market expansion during the forecast period and will account for the second position attributed to the demand for electronic devices continues to rise, led by technological advancements, the need for bromine derivatives in the electronics landscape contributes to the overall growth of the industry. Water treatment applications represent a growth driver for the market in North America.

Research Nester
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Companies Dominating the Bromine Derivatives Landscape

top-features-companies
    • Jordon Bromine Company
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Albemarle Corporation
    • LANXESS
    • Gulf Resources
    • TETRA Technologies, Inc.
    • Honeywell International Inc
    • Israel Chemicals Limited
    • Hindustan Salts Limited
    • Tata Chemicals Ltd.

In the News

  • Environmental Protection Agency- announced its new guideline highlighting the usage of methyl bromide as a pre-shipment fumigant and quarantine for logs storage in the ship’s hold.
  • Lanxess- announced their expansion plans across North America, along with the investment of about 60 million USD in the bromine reservoir site.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5769
  • Published Date: May 02, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2023, the industry size of the bromine derivatives market was over USD 23 billion.

The market size for the bromine derivatives market is projected to cross USD 58 billion by the end of 2036 expanding at a CAGR of 8% during the forecast period i.e., between 2024-2036.

The major players in the market are Albemarle Corporation, LANXESS, Gulf Resources, TETRA Technologies, Inc., Honeywell International Inc., Israel Chemicals Limited, Hindustan Salts Limited, Tosoh Corporation, Tata Chemicals Ltd., and others.

In terms of derivatives type, the sodium bromide segment is anticipated to account for the largest market share of 41% during 2024-2036.

The APAC bromine derivatives market is poised to hold the highest share of 47% by 2036.
Bromine Derivatives Market Report Scope
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