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Bromine Market | Global Market Size, Demand Analysis & Opportunity Outlook 2023

Published On : 09:40 AM, 14th September, 2017 REP-ID-182 Category: Chemicals and Materials

Global Bromine Market Overview

Bromine is a natural element, found in lakes, sea and underground bores and mines. It is generally used in biocides, water treatment plants and pharmaceutical industries owing to its property of catalyst and reactant. Bromine and its derivatives have wide-scale application in several industries such as oil and gas industry.

Brine fluids; derivative of bromine is widely used in oil and gas drilling industries owing to its characteristic of high density liquid which provides protection and efficient process underground such as underground boring.

                    Bromine Market Demand & Revenue

Market size and forecast

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 market accounted for USD 4.52 Billion in 2015 and the market is anticipated to reach USD 10.21 Billion by 2023. 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 for the largest revenue share of 30% in 2015 in overall bromine market across the globe. On the other hand, Europe is expected to be the second largest share contributor by registering a share of 27% in 2015 in overall market of bromine across the globe due to presence of large number of pharmaceutical industries and extensive researches for effective drugs.

In 2015, North America accounted the revenue share of 25% in overall bromine market across the globe. The market is expected to grow in European region owing to technological advancements in automobile sector which is further expected to fuel the demand for bromine.

Wide-scale application of bromine in oil refractories, gas extracting industry and pharmaceutical industries is making it the most required element in the growth phase of industries across the globe. Rapid extraction of oil and gas in order to meet the demand of consumers, growing population and technological advancements in sectors require fuel in large quantities are some of the major factors paving the growth of bromine market.

Market Segmentation

Our in-depth analysis segmented the global bromine market in the following segments:

By Derivative

  • Clear brine fluids
  • Hydrogen Bromide
  • Organobromines

By Applications

  • Flame Retardants
  • Biocides
  • Organic Intermediates
  • PTA synthesis
  • Plasma Etching
  • Oil and gas drilling

By End-User

  • Pharmaceuticals
  • Cosmetics
  • Textile
  • Pesticides
  • Automotive
  • Others

By Region

Global Bromine market is further classified on the basis of region as follows:

  • North America (United States /U.S. & Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia)
  • Middle East and North Africa (MENA)
  • Rest of World

Growth Drivers and challenges

Increasing investments in oil and gas extraction industries, rapid production of bromine across the globe; rising export and import of elements such as bromine owing to miscellaneous applications in agriculture and water-treatment set-ups, and rise of funding in agriculture sector and water-treatment industry in order to provide better daily need resources to consumers are some of the major key factors further trigger the demand for bromine in near future. In addition to this, factors such as introduction of effective flame retardants, technological advancements in bromine derivatives, researches in pharmaceutical industries to develop effective drugs for treatment, rising initiative towards polymer fabrication are expected to spur the demand for bromine over the forecast period i.e. 2016-2023.

Moreover, increasing demand of polymer fabrication and flame retardants in electronic and textile industries which is further estimated to trigger the bromine demand in respective industries is some of the vital factors anticipated the growth of bromine market.

Rising globalization and increasing numbers of emerging economies across the globe, on the other hand, increasing investments in oil and gas refractories owing to rising demand of fuel, increasing concerns towards reuse and recycle of convential resources such as water thus increase water treatment set-ups are factors expected to gain traction and rise the demand for bromine globally.

Rapid growth in food and agriculture sector owing to government funding and availability of effective and low cost pesticides is further likely to bolster the demand for bromine in agriculture sector in order to increase economy by the nations.

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.

Key Players

The key vendors of Bromine market are as follows:

  • Albemarle Corporation
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • Chemtura
  • Jordan Bromine Ltd 
  • Tosoh Corporation
  • Israel Chemical Ltd

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The Global Bromine Market is segmented as follows:

  • By Product type Market Size and Y-O-Y Growth Analysis
  • By Application type Market Size and Y-O-Y Growth Analysis
  • By End-user Market Size and Y-O-Y Growth Analysis

By Regions

  • North America (United States/U.S., Canada) Market Size and Y-O-Y Growth Analysis
  • Latin America (Mexico, Brazil, Rest of Latin America) Market Size and Y-O-Y Growth Analysis
  • Western and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest Of Western Europe, Russia Poland, Rest of Eastern Europe) Market Size and Y-O-Y Growth Analysis
  • Asia-Pacific (China, India, Singapore, Japan, Australia and New Zealand and Rest of Asia) Market Size and Y-O-Y Growth Analysis
  • Middle East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis
  • Rest of World  Market Size and Y-O-Y Growth Analysis

Market Dynamics

Supply and Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

 

                Key Answers Captured in Report?

Which geography would have better demand for product/services?
What are the strategies adopted by big players in the regional market?
Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
What is the current & expected market size in next five years?
What is the market feasibility for long term investment?
What opportunity the country would offer for existing and new players in the market?
What is risk involved for suppliers in the geography?
What factors would drive the demand for the product/service in near future?
What is the impact analysis of various factors in the market growth?
What are the recent trends in the regional market and how successful they are?

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