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The global bromine market reached a value of US$ 3.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 4.2 Billion by 2027, exhibiting a CAGR of 4.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Bromine is a chemical element found naturally in Earth’s crusts and extracted via electrolysis. It is soluble in water and has a deep red color with a pungent odor. It is widely utilized to make organobromine compounds across the globe. These compounds find extensive applications in the manufacturing of halon fire extinguishers that prevent fire breakouts in places like museums, airports, and tanks. Besides this, bromine is used in film photography, surface cleaning of printed circuits and rubber used for car tires, and disinfecting swimming pools and industrial cooling water.
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A significant part of the population suffers from famine and malnutrition on account of limited food supply, rising global population, and decreasing arable land. This represents one of the key factors positively influencing the use of bromine to improve crop yields and cater to the nutritional needs of humans. In addition, governing agencies of numerous countries are encouraging the adoption of modern agricultural practices that involve long-term storage of products, such as grains, cotton, and fresh fruit and vegetables. This, in turn, is increasing the sales of bromine to control pests degrading products stored for extended periods. Moreover, it is utilized in the preparation of over-the-counter (OTC) and prescription drugs. This, in confluence with the growing prevalence of chronic diseases, is catalyzing the demand for bromine to treat heart problems, thyroid hyperactivity, hysteria, seizures, and colic in babies. Apart from this, the thriving food and beverage (F&B) industry is contributing to the utilization of bromine as an emulsifier in beverages. Furthermore, its expanding usage in making fumigants, dyestuffs, textiles, water purification compounds, chemical intermediates, furniture foam, and plastic casings for electronics is projected to drive the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global bromine market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on derivative, application and end user.
Breakup by Derivative:
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Breakup by Application:
Breakup by End User:
Breakup by Region:
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The competitive landscape of the industry has also been examined along with the profiles of the key players being Albemarle Corporation, Chemada Industries Ltd., Gulf Resources Inc., Hindustan Salts Limited, Honeywell International Inc., ICL Group Ltd., Jordan Bromine Company Limited, Lanxess AG, Solaris Chemtech Industries Limited (Agrocel Industries Pvt. Ltd.), Tata Chemicals Limited, TETRA Technologies Inc. and Tosoh Corporation.
|Base Year of the Analysis||2021|
|Segment Coverage||Derivative, Application, End User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Albemarle Corporation, Chemada Industries Ltd., Gulf Resources Inc., Hindustan Salts Limited, Honeywell International Inc., ICL Group Ltd., Jordan Bromine Company Limited, Lanxess AG, Solaris Chemtech Industries Limited (Agrocel Industries Pvt. Ltd.), Tata Chemicals Limited, TETRA Technologies Inc. and Tosoh Corporation|
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The global bromine market was valued at US$ 3.2 Billion in 2021.
We expect the global bromine market to exhibit a CAGR of 4.5% during 2022-2027.
The rising utilization of bromine in the agriculture sector, to improve plant growth and increase crop
yield, is primarily driving the global bromine market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown
regulations across several nations resulting in temporary closure of numerous end-use industries for
bromine, such as textiles, chemicals, electronics, etc.
Based on the derivative, the global bromine market can be segmented into hydrogen bromide,
organobromine compounds, bromine fluids, and others. Currently, organobromine compounds hold the
majority of the total market share.
Based on the application, the global bromine market has been divided into biocides, Flame Retardants
(FR), bromine-based batteries, Clear Brine Fluids (CBF), and others. Among these, Flame Retardants (FR)
currently exhibit a clear dominance in the market.
Based on the end user, the global bromine market can be categorized into chemicals, oil and gas,
pharmaceuticals, agriculture, textiles, electronics, and others. Currently, the chemical industry accounts
for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin
America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global bromine market include Albemarle Corporation, Chemada
Industries Ltd., Gulf Resources Inc., Hindustan Salts Limited, Honeywell International Inc., ICL Group Ltd.,
Jordan Bromine Company Limited, Lanxess AG, Solaris Chemtech Industries Limited (Agrocel Industries
Pvt. Ltd.), Tata Chemicals Limited, TETRA Technologies Inc, and Tosoh Corporation.
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