According to
ChemAnalyst report, “Global Bromine
Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply,
Technology, End Use, Distribution Channel, Region, Competition, Trade, Customer
& Price Intelligence Market Analysis, 2015-2030”, global
bromine market has shown promising growth in the past five years and is anticipated
to achieve a CAGR of 4.85% during the forecast period. Increasing demand for flame
retardants from construction and automotive and other areas coupled with the
increasing demand for clear brine fluids from oil and gas extraction is
expected to drive the demand of bromine during forecast period. Moreover, the
increasing demand of hydrogen bromide from hydrogen bromide flow batteries
which find application in electric vehicles is also an influencing factor
supporting demand growth during the forecast period.
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info: https://www.chemanalyst.com/industry-report/bromine-market-584
Bromine is a
halogen element which appears as a red brown liquid at room temperature.
Bromine has various derivatives including organobromine, clear brine fluids,
hydrogen bromide, etc. Bromine has application in various areas including flame
retardants, water treatment and biocides, mercury emission control, hydrogen
bromide flow batteries, pesticides, plasma etching, pharmaceuticals, and others.
Among the above application areas, the flame retardants segment dominates the
global market due to increasing awareness and precautions regarding fireproof
infrastructure.
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Bromine is basically
a halide salt which is extracted from brine pools. Bromine and its derivatives
are used in a large number of application areas including flame retardants,
water treatment and biocides, mercury emission control, hydrogen bromide flow
batteries, pesticides, plasma etching, pharmaceuticals etc. In 2020, the spread
of COVID-19 in major global economies caused nationwide lockdowns which had an
impact on a number of industries. Construction and automotive were among the
most affected industries during the pandemic. This had an impact on the demand
of flame retardants for the first half of 2020. Therefore, the demand for
bromine fell during the coronavirus pandemic from the flame retardant
segment. The demand from clear brine
fluids which find application in oil and gas extraction also fell during the
coronavirus pandemic. On the other hand, the demand from water treatment and
biocides segment grew during the coronavirus pandemic.
Bromine is majorly
related to flame retardants hence the price is directly linked to the
fluctuations in the demand of construction and automotive which are the major
consumers of flame retardants. In the first half of FY20 sudden outbreak of
novel coronavirus followed by fall in in the demand of construction and
automotive rendered a major downfall in the global bromine, hence the prices
remained low for bromine during the coronavirus pandemic. Demand has picked up
in the recent quarters and is projected to grow due to increasing demand from
Asia Pacific and North America.
Regionally, Asia
Pacific dominates the Global bromine market and holds the largest market share
in FY20. Asia’s bromine market is anticipated to grow in the economies like China
due to increasing demand of flame retardants and hydrogen bromide flow batteries.
According to
ChemAnalyst report, Global Bromine
Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply,
Technology, Application, End Use, Distribution Channel, Region, Competition,
Trade, Customer & Price Intelligence Market Analysis, 2015-2030”,
some of the major players operating global bromine
market are Israel Chemicals Limited, Albemarle Corporation, LANXESS
Corporation, Tosoh Corporation, Tata Chemicals Limited, Gulf Resources Inc, and
TETRA Technologies, Inc.
“Being linked to
the construction and automotive industry which are the major consumers of flame
retardants, the global bromine industry has shown a robust growth alongside
growing population and changing consumer preference towards safer
infrastructure and automotive. China serves as the key growth region with
sufficiently installed capacities for bromine. With new competitors emerging across the Asia
Pacific bromine market, players anticipate that there will be sufficient supply
demand gaps in future. At this, it is extremely important to keep an eye which
region will grab the biggest market share in the upcoming years.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm promoting
ChemAnalyst.
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