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Bromine Derivatives Market Size, Restraints, Drivers, Trends And Analysis 2024-2033
Bromine Derivatives Market Size
As per the report, the bromine derivatives market size has grown strongly in recent years. It will grow from $4.85 billion in 2023 to $5.12 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The bromine derivatives market size is expected to see strong growth in the next few years. It will grow to $6.55 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%.
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Bromine Derivatives Market Surges With Global Construction Boom
The increasing construction industry worldwide is expected to propel the growth of the bromine derivatives market going forward. The construction industry refers to the industrial branch of manufacturing and trade that builds, repairs, renovates and maintains infrastructures. Bromine derivatives are utilized to construct complex infrastructure due to their compatibility with most non-metallic building materials, including fiberglass-reinforced plastic (vinyl ester or polyester FRP), polyvinyl, and other such related components. For instance, in December 2022, according to the Office for National Statistics, a UK-based government department, the construction output increased by 0.8% in volume in October 2022, marking the highest construction output of $16576.33 million (£15,248 million) compared to the previous fourth consecutive month. Therefore, the increasing construction industry worldwide is driving the bromine derivatives market.
De Nora's Miox Boss Redefines Bromine Derivatives In Water Treatment
Product innovation is a key trend in the bromine derivatives market. Major companies operating in the bromine derivatives market are focused on developing innovative solutions to strengthen their position in the market. For instance, in September 2022, De Nora, an Italy-based company specializing in electrochemistry, launched MIOX Bromine Oxidant Solution System. This bromine production system enhances processes for treating water with high ammonia or pH concentrations, which is crucial for cooling tower applications. The chlorine-based solution generated by the on-site generator is changed into a bromine-containing solution by MIOX BOSS using an activator solution that contains bromide. Its primary use is for cooling towers, where owners frequently implement an alkaline treatment program to reduce cooling tower corrosion. MIOX generators create oxidizing solutions using three readily available consumables: water, salt, and electricity.
The bromine derivatives market covered in this report is segmented -
1) By Derivative: Sodium Bromide, Calcium Bromide, Zinc Bromide, TBBPA, DPDPE, Other Derivatives
2) By Application: Flame Retardants, Safety Apparel, Organic Intermediates, Oil and Gas Drilling, Biocides, PTA Synthesis, Other Applications
3) By End Use: Chemical, Construction, Oil and Gas, Pharmaceuticals, Electronics, Other End Users
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Major companies operating in the bromine derivatives market report are Albemarle Corporation, Israel Chemicals Limited, Lanxess Corporation, Hindustan Salts Limited, Honeywell International Inc., Tata Chemicals Ltd., Tetra Technologies Inc., Jordan Bromine Company Ltd., Beacon Organosys Pvt. Ltd., Morre-Tec Industries Inc., Chemtura Corporation, Gulf Resources Inc., Neogen Chemical Limited, Perekop Bromine Factory, Dhruv Chem Industries, Haiwang Fine Chemical Co. Ltd., Sanofi S.A., ICL Industrial Products, Solaris Chemtech Industries Limited, Noah Technologies Corporation, American Elements Corporation, Chemada Fine Chemicals Co. Ltd., Evergrow International LLC, Jiangyin Chengxing Industrial Group Co. Ltd., Tosoh Corporation .
Contents of the report:
1. Executive Summary
2. Bromine Derivatives Market Report Structure
3. Bromine Derivatives Market Trends And Strategies
4. Bromine Derivatives Market - Macro Economic Scenario
5. Bromine Derivatives Market Size And Growth
…..
27. Bromine Derivatives Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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