Israel Chemicals Limited (Israel), Albemarle Corporation (US), Chemtura Corporation (US), Tosoh Corporation (Japan), Tata Chemicals Ltd (India) are the Renowned Players in Bromine Market - Report by MarketsandMarkets™

According to recent research "Bromine Market by Derivative (Organobromines, Clear Brine Fluids, Hydrogen Bromide), Application (Flame Retardants, Water Treatment, HBr Flow Batteries, Mercury Emission Control, PTA Synthesis), and Region - Global Forecast to 2022", published by MarketsandMarkets™, The global bromine market was USD 2.47 Billion in 2016 and is projected to reach USD 3.96 Billion by 2022, at a CAGR of 8.4% between 2017 and 2022.

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Growing use of bromine in the mitigation of mercury emission and increasing demands for flame retardants due to stringent fire safety standards fuel the growth of the bromine market globally

Bromine is a reddish volatile liquid with an unpleasant odor. It is a non-metallic liquid belonging to the halogen family. Organobromines, clear brine fluids, and hydrogen bromide are some of the major derivatives segmented in the bromine market. By application, the bromine market is segmented into flame retardants, water treatment, HBr flow batteries, drilling for oil & gas, pharmaceuticals & cosmetics, agriculture, mercury emission control, PTA synthesis, etching, and others which include photography, chemical intermediates synthesis, adhesives & tapes, and elastomers. The market is witnessing growth due to the increasing use of bromine in the mitigation of mercury emission and increasing demand for flame retardants due to stringent fire safety standards. The extensive consumption of bromine in diverse applications is also an important factor driving the bromine market. The bromine market was USD 2.47 billion in 2016 and is projected to reach USD 3.96 billion by 2022, at a CAGR of 8.4% between 2017 and 2022.

The Asia Pacific region is projected to be the fastest-growing market, in terms of both, value and volume, during the forecast period. China is projected to be the fastest-growing bromine market in the Asia Pacific, accounting for a major share of the demand for bromine in the region. It is a high potential market owing to the extensive use of bromine in a variety of end-use industries, such as electronics & consumer goods, automotive, textiles, pharmaceuticals, oil & gas, and agrochemicals.

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Clear brine fluids are the fastest-growing segment of the bromine market, by derivatives. The demand for clear brine fluids is driven due to their extensive use in oil well drilling and hydraulic fracturing. Moreover, these are also used in refrigeration installations for transportation of thermal energy. Thus, due to the aforementioned reasons, clear brine fluid is projected to be the fastest-growing segment of the global bromine market, by derivative.

Oil & gas drilling is the fastest-growing application of bromine. Brominated compounds such as Calcium Bromide (CaBr2), Sodium Bromide (NaBr), and Zinc Bromide (ZnBr2) are used as clear brine fluids used in drilling wells for oil and natural gas. Thus, the increasing consumption of clear brines as completion and drilling fluids by the upstream oil & gas industry makes it the fastest-growing application of bromine.

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Bromine manufacturers, such as Israel Chemicals Limited (Israel), Albemarle Corporation (US), Chemtura Corporation (US), Tosoh Corporation (Japan), Tata Chemicals Ltd (India), Gulf Resources Inc. (China), TETRA Technologies, Inc. (US), Hindustan Salts Limited (India), Honeywell International Inc. (US) and Perekop bromine (Republic of Crimea) are covered in the report.

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