Global Bromine Market is expected to grow from $2.35 billion in 2016 to reach $4.28 billion by 2023 with a CAGR of 8.9%. Increasing consumption of bromine in various end use industries such as oil & gas, automotive, pharmaceuticals, textile, agricultural, and electronics will be one of the major factors that will have a positive impact on the growth of the market. Bromine and its derivatives are widely used in PTA synthesis, plasma etching, flame retardants, biocides, and oil & gas drilling applications. Furthermore, increasing oil and gas demand, expansion of water treatment industry, developments in oil & gas production with advance manufacturing units, rising usage as mercury reducing agents and stringent environmental policies are the factors favoring the market growth. However, environmental concerns due to its toxicological effects and developing non-halogenated flame retardants will hamper the bromine market’s growth to some extent in the near future.
Bromine is a chemical element, one of nature’s building blocks. Bromine derivatives are essential ingredients in everything from drugs and automotive tires to water purifiers, sanitizers and additives that protect lives and property from fire. Bromine derivatives are used to explore for oil and gas, and they help us keep swimming pools and spas clean and clear. They are vital to agriculture and international trade because they protect crops from insect damage and help to keep imported commodities free of invasive pests. Bromine is classified as a hazardous waste material under the CERCLA (Superfund) act of 1980 and the Resource Conservation and Recovery Act (RCRA) of 1976, along with numerous state and local laws and regulations. Under these rules, bromine must be disposed of in a way that minimizes potential harm to humans and the environment.
After an exhaustive analysis of the industry, the resultant report starts with a brief but an informative overview. The overview contains the market definition, prominent applications, along with the manufacturing techniques employed. With the aim of analyzing the global Bromine market, data analysts dive into the competitive scene as well as the latest industry trends, and key regions. The report also offers the product’s price margins combined with the challenges encountered by the manufacturers. In addition, it provides a comprehensive understanding of various dynamics that have a significant impact on the Bromine market. The report highlights the market situation while keeping 2019 as the base year, and the forecast period ends by 2025.
Some of the key players profiled in the report include Sanofi SA, Honeywell International Inc., Aquachina Chemicals, Chemtura Corporation, Israel Chemicals Limited, Solaris Chemtech, Dhruv Chem Industries, Tetra Technologies Inc., Tosoh Corporation, Albemarle Corporation, Morre-Tec Industries Inc., Jordan Bromine Company, Hindustan Salts Limited, Gulf Resources Inc., Tata Chemicals Limited, Shandong Haiwang Chemical Co., Ltd., Shandong Dadi Salt Chemical Group Co., Ltd and Shandong Ocean Chemical Co., Ltd.
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• Clear Brine Fluids
• Hydrogen Bromide (BHR)
• Flame Retardants
• Oil & Gas drilling
• Organic Intermediates
• Plasma etching
• PTA synthesis
• Other Applications
• Oil and gas
• Other Verticals
The forecast, as well as analysis of the Bromine market, is done not on just globally, but also regionally. With context to the region, the report covers the main regions of Middle East & Africa, North America, Europe, Latin America, and Asia Pacific. The latest trends are examined in these regions, apart from various opportunities and outlook that could favor the market in the subsequent years.
Drivers and Challenges
In addition to giving an insight into the fundamental dynamics shaping the Bromine market, the report also examines a variety of volume trends along with the pricing history and market value. On top of this, numerous potential growth factors, challenges, coupled with opportunities, are appraised to get a precise understanding of the market altogether.
Method of Research
To get an understanding of the market potential in the coming years, the market is scrutinized with respect to various parameters that are part of the Porter’s Five Force Model. Besides, the data analysts also use the SWOT on account of which the report offers explicit information about the Bromine market. The thorough analysis of the market aids in identifying and highlighting its key strengths, weaknesses, risks, and opportunities.
Table of Content
1 Executive Summary
3 Market Trend Analysiss
9 Key Developments
10 Company Profiling
10.1 Sanofi SA
10.2 Honeywell International Inc.
10.3 Aquachina Chemicals
10.4 Chemtura Corporation
10.5 Israel Chemicals Limited
10.6 Solaris Chemtech
10.7 Dhruv Chem Industries
10.8 Tetra Technologies Inc.
10.9 Tosoh Corporation
10.10 Albemarle Corporation
10.11 Morre-Tec Industries Inc.
10.12 Jordan Bromine Company
10.13 Hindustan Salts Limited
10.14 Gulf Resources Inc.
10.15 Tata Chemicals Limited
10.16 Shandong Haiwang Chemical Co., Ltd.
10.17 Shandong Dadi Salt Chemical Group Co., Ltd
10.18 Shandong Ocean Chemical Co., Ltd.
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