Organobromine Market to reach USD 2413.48 million by 2029, registering a CAGR of 4.10%,Trends

Organobromine compounds are organic substances in which the carbon atom is bonded chemically to the element bromine. The bromomethane produced spontaneously is also seen as being widely distributed. In addition, one of the main applications is the usage of polybrominated diphenyl ethers, which are commonly used as flame retardants. There are a variety of tiny organobromine compounds in nature as well.   

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The chemical element bromine can be obtained by electrolysis from the crust of the Earth. It has a deep red hue and a strong odour, and it dissolves in water. Around the world, it is commonly used to produce organobromine chemicals. These substances are widely used in the production of halon fire extinguishers, which stop fires from starting in places like tanks, airports, and museums.

Global organobromine market was valued at USD 1750.00 million in 2021 and is expected to reach USD 2413.48 million by 2029, registering a CAGR of 4.10% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Some of the major players operating in the organobromine market are

ICL (Israel)

Albemarle Corporation (U.S.)

LANXESS (Germany)

Tosoh Corporation (Japan)

Tata Chemicals Ltd. (India)

Gulf Resources, Inc. (China)

TETRA Technologies, Inc. (U.S.)

Solaris Chemtech (India)

Honeywell International Inc. (U.S.)

Perekop Bromine (Russia)

MORRE-TEC Industries (U.S.)

Jordan Bromine Company (Jordan)

Hindustan Salts Limited (India)

Sanofi (France)

Satyesh Brinechem. (India)

AquaChina Chemical (Wuhan) Co.,Ltd. (China)

Dhruv Chem Industries. (India)

Opportunities

Growth and expansion

Growth and expansion of the construction industry especially in the developing economies will present many opportunities for the growth of the market. Keeping up with advancements in manufacturing/ production technology may also be beneficial for the market as a whole.

Drivers

Rising demand for flame retardants

Around the world, fire-related mishaps result in the destruction of property valued at billions of dollars each year. Insurance companies must spend a large amount of their profits to settle claims for the loss of infrastructure, property, and human lives in fire catastrophes. Anti-inflammatory medications and flame retardants, for example, are crucial since they lower the risk of fire for almost every manufactured commodity. Flame retardants postpone the combustion process and hence prevent fire by forming a layer of free radicals. To stop oxidation, they either release carbon dioxide or produce free radicals that interact with oxygen molecules.

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