Bromine Market Poised to Reach US$ 4.3 Billion 2023-2028, Driven by Impressive 4.2% CAGR: IMARC Group

According to IMARC Group latest report titled "Bromine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on bromine market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global bromine market size reached US$ 3.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.3 Billion by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028.

What is Bromine?

Bromine, a chemical element with the symbol Br and atomic number 35, is a non-metallic halogen in the periodic table. It is a reddish-brown, volatile liquid at room temperature, emitting a pungent odor. With its name derived from the Greek word "bromos," meaning stench, bromine is known for its strong reactivity. It is vital in various industries, particularly as a flame retardant in plastics and textiles. Additionally, bromine compounds are used in water treatment and pharmaceuticals. Bromine is also found naturally in seawater and some minerals.

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What are the growth prospects and trends in the bromine industry?

The global market is majorly driven by the increasing product use in flame retardants for various industries, such as construction, electronics, and automotive. In line with this, the rising demand for bromine-based chemicals in water treatment processes, especially for disinfection and sanitization purposes, is significantly contributing to the market. Furthermore, the widespread product applications in the pharmaceutical sector are positively influencing the market. Apart from this, the growing product utilization in the drilling fluids for oil and gas exploration is catalyzing the market. Moreover, using bromine-based pesticides and fumigants in agriculture fuels market growth as farmers seek efficient pest control solutions. Besides, the product is extensively used in manufacturing electronic components, particularly in printed circuit boards, contributing to market expansion as the electronics industry grows. Additionally, the demand for brominated flame retardants in vehicle interiors, electrical systems, and components adds to market growth as the automotive industry expands.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Albemarle Corporation
• Chemada Industries Ltd.
• Gulf Resources Inc.
• Hindustan Salts Limited
• Honeywell International Inc.
• ICL Group Ltd.
• Jordan Bromine Company Limited
• Lanxess AG
• Solaris Chemtech Industries Limited (Agrocel Industries Pvt. Ltd.)
• Tata Chemicals Limited
• TETRA Technologies Inc.
• Tosoh Corporation

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Bromine Market Segmentation:

Our report has categorized the market based on region, derivative, application and end user.

Breakup by Derivative:
• Hydrogen Bromide
• Organobromine Compounds
• Bromine Fluids
• Others

Breakup by Application:
• Biocides
• Flame Retardants (FR)
• Bromine-Based Batteries
• Clear Brine Fluids (CBF)
• Others

Breakup by End User:
• Chemicals
• Oil and Gas
• Pharmaceuticals
• Agriculture
• Textiles
• Electronics
• Others

Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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