Bromine market Growth Forecast At 4% Cagr During 2021 To 2028 Covid Impact And Global Analysis

Bromine is a naturally occurring chemical element and is primarily used as a catalyst and synthesizing agent for the production of various products which include disinfectant, flame retardants, photographic chemicals, and water disinfectant. Automobile, agriculture and electronics are some of the major end-user industries of the bromine.

The rising demand for plastic from the automotive industry is projected to augment the market growth of the bromine. Increasing replacing of metal with plastic in the automotive industry for manufacturing of lightweight vehicle subjected to rising environmental concerns is expected to spur the market growth. Moreover, plastic is also gaining huge demand for the electronic industry for applications such as wire & cables, switches, connectors, and printed circuits boards.

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Detailed Segmentation:

Global Bromine Market, By Derivatives:
Clear Brine Fluids
Hydrogen Bromide
Organobromines

Global Bromine Market, By Application:
Flame Retardants
Biocides
Oil and Gas Drilling
Plasma Etching
PTA Synthesis
Others

Growing demand for bromine from pharmaceutical formulation coupled with the rise in the pharmaceutical industry is projected to provide enormous market opportunities. Bromine-based ingredients are widely used in the manufacturing of over-the-counter and prescription drugs. Moreover, bromine has the ability to reduce the sensitivity of the central nervous system thus it is also used in the formulation of anti-epileptics, tranquilizers, and sedatives.

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Increasing opening of new facility by major manufacturers for expanding business presence is a current trend in the market and this is expected to augment the market growth. For instance, in March 2020, TrustCapital LLC – a bromine and bromine compound producers located in Russia – opens a new bromine plant in Krasnokamsk (Volga Federal District) with an estimated capacity of 1,700 tons sodium bromide per month.

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