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Global Bromine Market to Grow at a CAGR of 4.85% by 2030 | ChemAnalyst

06-11-2021 11:35 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: ChemAnalyst

According to ChemAnalyst report, “Global Bromine Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, global bromine market has shown promising growth in the past five years and is anticipated to achieve a CAGR of 4.85% during the forecast period. Increasing demand for flame retardants from construction and automotive and other areas coupled with the increasing demand for clear brine fluids from oil and gas extraction is expected to drive the demand of bromine during forecast period. Moreover, the increasing demand of hydrogen bromide from hydrogen bromide flow batteries which find application in electric vehicles is also an influencing factor supporting demand growth during the forecast period.

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Bromine is a halogen element which appears as a red brown liquid at room temperature. Bromine has various derivatives including organobromine, clear brine fluids, hydrogen bromide, etc. Bromine has application in various areas including flame retardants, water treatment and biocides, mercury emission control, hydrogen bromide flow batteries, pesticides, plasma etching, pharmaceuticals, and others. Among the above application areas, the flame retardants segment dominates the global market due to increasing awareness and precautions regarding fireproof infrastructure.

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Bromine is basically a halide salt which is extracted from brine pools. Bromine and its derivatives are used in a large number of application areas including flame retardants, water treatment and biocides, mercury emission control, hydrogen bromide flow batteries, pesticides, plasma etching, pharmaceuticals etc. In 2020, the spread of COVID-19 in major global economies caused nationwide lockdowns which had an impact on a number of industries. Construction and automotive were among the most affected industries during the pandemic. This had an impact on the demand of flame retardants for the first half of 2020. Therefore, the demand for bromine fell during the coronavirus pandemic from the flame retardant segment. The demand from clear brine fluids which find application in oil and gas extraction also fell during the coronavirus pandemic. On the other hand, the demand from water treatment and biocides segment grew during the coronavirus pandemic.

Bromine is majorly related to flame retardants hence the price is directly linked to the fluctuations in the demand of construction and automotive which are the major consumers of flame retardants. In the first half of FY20 sudden outbreak of novel coronavirus followed by fall in in the demand of construction and automotive rendered a major downfall in the global bromine, hence the prices remained low for bromine during the coronavirus pandemic. Demand has picked up in the recent quarters and is projected to grow due to increasing demand from Asia Pacific and North America.

Regionally, Asia Pacific dominates the Global bromine market and holds the largest market share in FY20. Asia’s bromine market is anticipated to grow in the economies like China due to increasing demand of flame retardants and hydrogen bromide flow batteries.

According to ChemAnalyst report, Global Bromine Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major players operating global bromine market are Israel Chemicals Limited, Albemarle Corporation, LANXESS Corporation, Tosoh Corporation, Tata Chemicals Limited, Gulf Resources Inc, and TETRA Technologies, Inc.

“Being linked to the construction and automotive industry which are the major consumers of flame retardants, the global bromine industry has shown a robust growth alongside growing population and changing consumer preference towards safer infrastructure and automotive. China serves as the key growth region with sufficiently installed capacities for bromine. With new competitors emerging across the Asia Pacific bromine market, players anticipate that there will be sufficient supply demand gaps in future. At this, it is extremely important to keep an eye which region will grab the biggest market share in the upcoming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.

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ChemAnalyst is a leading provider of chemical commodity prices in more than 12 countries since from last 4 Years. The company has emerged as a preferred pricing supplier amongst Procurement Managers and Strategy Professionals globally who wants to track near real time prices of chemicals on its interactive dashboard. Unlike most of its competitors such as ICIS, IHS & S&P Platts the company doesn’t believe in delivering prices in PDF reports. The company has developed proprietary algorithm based online subscription platform in which users can track years of historical prices of more than 250 chemical commodities. In addition, since it’s all online, the users cannot just compare prices across multiple countries but also with other commodities and play with the data by generating multiple graphs to find out amazing insights. The users get access to grade wise CIF, CFR & Ex Works prices at multiple ports in each country.

ChemAnalyst also provides market analysis for more than 1000+ chemical commodities such as Production, Demand, Supply, Plant Operating Rate, Imports, Exports, Suppliers, Customers and much more. The company has created online interactive dashboard in which customers can access all this data instantly with a click of a button. The users will not only be able to analyse historical data for past years but will also get to analyse short term and long-term forecasts for coming years. With the access to local field teams, the company can provide high quality reliable market analysis data for more than 20 countries.

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