Bromine Derivatives Market Overview, Future Opportunities, Regional Demand and Forecast 2021-2030 | Global Value to hit $1,354.5 Million by 2030

As per the research report by Allied Market Research, Global Bromine derivative market size was valued at $826.4 million in 2020, and is projected to reach $1,354.5 million by 2030, growing at a CAGR of 5.1% from 2021 to 2030. Rise in urbanization, need for enhanced infrastructure, and rapid rise of pharmaceuticals drive the growth of the global bromine derivative market. However, stringent government regulations on chemicals hinder the market growth. On the other hand, surge in pharmaceutical, construction, automotive activities in developing nations present new opportunities in the coming years.

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Based on region, Asia-Pacific held the highest share in 2020, accounting for around two-fifths of the total share, and is estimated to maintain its dominance in terms of revenue by 2030. Moreover, this region is projected to manifest the fastest CAGR of 5.4% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.

Based on derivative, the TBBPA segment contributed to the highest share in 2020, accounting for nearly one-third of the total market share, and is projected to maintain its lead position throughout the forecast period. However, the sodium bromide segment is projected to manifest the fastest CAGR of 5.4% from 2021 to 2030.

Based on end use, the chemical segment accounted for the highest share in 2020, contributing to more than three-fifths of the global bromine derivative market, and is expected to maintain its leadership status during the forecast period. However, the construction segment is estimated to manifest the largest CAGR of 5.4% from 2021 to 2030.

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The report offers key drivers that propel the growth in the global bromine derivative market. These insights help market players in devising strategies to gain market presence. The research also outlined restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining potential in untapped regions.

Leading players of the global bromine derivative market analyzed in the research include Albemarle Corporation, Hindustan Salts Limited, Gulf Resources Inc., Israel Chemicals Limited, Honeywell International Inc., Perekop Bromine, LANXESS Corporation, TETRA Technologies, Inc., Tata Chemicals Limited, and Tosoh Corporation.

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