Bromine Market to See Huge Growth 2024 - 2031 | Albemarle Corporation, Israel Chemicals Limited

Market Overview:

Global bromine market is expected to reach US$ 5.12 Bn by 2031, from US$ 3.76 Bn in 2023, exhibiting a compound annual growth rate (CAGR) of 4.5% during the forecast period.

Market Dynamics:

The bromine market is driven by the rising demand for bromine from water disinfection applications. Bromine and its compounds are widely used as biocides for disinfecting drinking water, spa water, and swimming pool water. They are highly effective at killing bacteria, viruses, molds, and other microbes. With growing concerns regarding water-borne diseases, the use of bromine for water disinfection is increasing globally. Additionally, the increasing production of flame retardants is also fueling the growth of the bromine market. Bromine compounds such as tetrabromobisphenol A and hexabromocyclododecane are important constituents of flame retardants used in various industries such as electronics, construction, automotive, and furniture.

🔍 Sample Copy of the Report @ https://www.coherentmarketinsights.com/insight/request-sample/884

Major Driver - Bromine's Extensive Usage as a Fire Retardant

Bromine is widely used as a fire retardant in many materials and products due to its fire-resistant properties. It is commonly added to plastics, textiles, wiring, and other materials to slow or prevent the spread of fire. As urbanization and industrialization have increased the need for fire safety, the demand for bromine as a fire retardant has risen substantially. According to research, over 50% of the global bromine production is consumed by flame retardants. With expanding manufacturing and construction industries worldwide, the usage of bromine in building materials, electronics, furniture, and vehicles will continue growing strongly in the coming years.

Market Opportunity - Growing Electric Vehicles Industry

One of the promising opportunities available in the bromine market stems from the blossoming electric vehicles (EVs) industry. Lithium ion batteries used in EVs require flame retardant electrolytes and cooling systems, which provide scope for using bromine compounds. Bromine-based constituents are known to effectively prevent battery fires without compromising performance. As EV sales skyrocket globally driven by supportive government policies and rising environmental awareness, the lithium ion battery manufacturing activity will scale up tremendously in the next decade. This emerging sector could open new revenue avenues for bromine suppliers. Various key automakers are also researching next-gen batteries using bromine-incorporated cathode and electrolyte materials.

Major Trend - Increasing Adoption of Aquaculture

The aquaculture industry has been witnessing rapid growth globally due to rising seafood consumption and overexploitation of ocean fish stocks. Aquaculture production relies extensively on the usage of chemicals to control algae blooms and prevent disease outbreaks. Bromine and its derivatives play a vital role here as they exhibit excellent algicidal and antibacterial activity in aquaculture ponds. Their adoption allows efficient and sustainable aquaculture without harming the ecosystems. As producers target higher yields to meet the upsurge in protein demand, bromine consumption for aquaculture applications is projected to rise noticeably in the coming years. This fast-evolving aquaculture sector will certainly be a significant trend molding the future bromine market dynamics.

🛒 You Can Purchase Complete Report @ https://www.coherentmarketinsights.com/insight/buy-now/884

Top Companies Featured in This Report:

★ Albemarle Corporation
★ Israel Chemicals Limited
★ Chemtura Corporation
★ Tosoh Corporation
★ Gulf Resources Inc.
★ Tetra Technologies Inc.
★ Tata Chemicals Limited
★ Hindustan Salts Limited
★ Honeywell International Inc. and Agrocel Industries Pvt. Ltd.

Market Segmentation:

By Product Type:

★ By Derivatives: Clear Brine Fluids, Hydrogen Bromide, Organobromines
★ By End-use Industry: Oil and Gas, Chemicals, Pharmaceuticals, Electronics, Textiles, Others (Water Treatment, Cosmetics)

By Applications:

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

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Key Inquiries Addressed in this Report include:

📈 What was the size of the Bromine Market in 2024, and what is the projected value by 2031?

📈 What is the present global market landscape for the Bromine Market?

📈 What strategies offer optimal opportunities for growth maximization in the business?

📈 What recent trends are shaping the Bromine Market?

📈 How does the market share of Bromine Market revenue, sales, and size vary across specific geographical regions?

📈 Who are the prominent industry players in the Bromine Market?

📈 Which segment of the Bromine Market is experiencing heightened demand?

The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.

In summary, whether you're engaged in manufacturing, distribution, or investment within the Bromine sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.

💎 Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/884

Author Bio:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)

Contact Us

Mr. Shah
Coherent Market Insights Pvt Ltd,
533 Airport Boulevard, Suite 400, Burlingame, CA 94010, United States
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Australia: +61-2-4786-0457
India: +91-848-285-0837

About Us

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.