Bromine Market to Witness Robust Expansion by 2025

Bromine is a nonmetal element and is a heavy, unstable, mobile, reddish-brown colored liquid that has an unpleasant odor, the vapor of which irritates the eyes and throat. Bromine is commercially extracted from brine pools, mostly in the U.S, Israel and China. Bromine is found in seawater as a salt of sodium, however, in smaller amounts as compared to chloride. Bromine is not considered essential to human health, however in the form of KBr or NaBr, it has anti-seizure properties and is considered effective in the treatment of hyperthyroid conditions. Bromine in liquid and vapor state, is highly toxic and is associated with severe irritation and burning of the eyes, respiratory organs, skin, and the gastro-intestinal tract. This poses as a major factor restraining growth of the market.

Bromine was traditionally used in the production of ethylene dibromide, a lead scavenger that is utilized in the production of antiknocking compounds in petrol. However, the use of bromine for the same has been reduced due to concerns over the amount of lead in the environment. Bromine is also used to manufacture fumigants (methyl bromide) for agricultural purposes, as flame proofing agents, for purification of water and dyes, as well as the production of photographic chemicals. The flame retardants segment held a dominant position in the application segment in the global bromine market in 2016 and are expected to continue its dominance throughout the forecast period. Bromine and the products related to bromine is used as a flame retardant in end use industries such as oil and gas, industrial and construction amongst others. The large number of fire accidents globally is boosting the demand for flame retardants, which drives the market for bromine globally. According to the National Fire Protection Association (NFPA), between 2011 and 2015, municipal fire departments in the U.S. responded to an average of 37,910 fires at industrial or manufacturing properties every year with annual losses from these fires estimated at 16 civilian deaths, 273 civilian injures, and US$ 1.2 billion in direct property damage totally.

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Asia Pacific is expected to be the fastest-growing region in the bromine market, due to the large availability of raw materials such as underground brines in China and Japan. Furthermore, cheap labor cost, and easy availability of manufacturing facilities in India and China is another factor propelling growth of the bromine market in this region.
Stringent government regulations is a major factor hindering growth of the bromine market in Europe. For instance, in 2016, European Union (EU) published Regulation 2016/293 prohibiting hexabromocyclododecane, which is a bromine containing flame retardant. It has applications such as filling bean bags, electrical appliances, packaging materials, textile coating additive, and upholstered furniture.

In the U.S., stringent requirements by Environmental Protection Agency (EPA)-Mercury and Air Toxic Standards to maintain mercury levels is expected to increase demand for bromine, owing to its major utility in mercury emission control

In the Middle East, Latin America, and Africa, demand for bromine for applications in oil and gas drilling is rapidly increasing. Various investment plans are also expected to augment growth of the bromine market. For instance, Anadarko, a U.S-based petroleum company, invested around US$ 20 billion by Abu Dhabi National Company in UAE and around US$ 1.1 billion in Gulf of Mexico, Algeria, and Ghana in 2017

Among derivative types, organobromide was the largest segment in the global bromine market, in 2016. Organobromide accounted for a market share of 31.23% in terms of value in the global bromine market in 2016 and is expected to retain its dominance throughout the forecast period. Organobromide is used largely in flame retardants and in synthesis of fumigants. Drugs containing organobromides are used in the treatment of the disease pneumonia and cocaine addiction.

Some of the major players operate in the bromine market are Israel Chemicals Limited, Albemarle Corporation, Chemtura Corporation, Tosoh Corporation, Tata Chemicals Ltd, Gulf Resources Inc., TETRA Technologies, Inc., Hindustan Salts Limited, Honeywell International Inc., and Perekop Bromine Factory.

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This release was published on openPR.