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Leading Element Driving Change in the Bromine Market in 2025: Bromine Market Surge Powering Oil And Gas Exploration Driver
What industry-specific factors are fueling the growth of the bromine market?The surge in the necessity for bromine in oil and gas extraction processes is significantly boosting the bromine market's expansion. The procedure of obtaining oil and gas from porous stone includes drilling into the region. The use of bromine in the form of clear brines can counterbalance the gravity needed to maintain the pressure that prevents porous stone's drilled pores from closing. The rising activities in oil and gas drilling clearly necessitate a sizable amount of bromine. For example, the Energy Information Administration, a US-based government entity, reported that in December 2022, crude oil production experienced a year-over-year upswing of roughly 3.4%, reaching 12.1 million barrels per day (b/d). Consequently, the surging requirement for bromine in oil and gas drilling operations is forecasted to spur the growth of the bromine market in the future.
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What Is the projected market size and growth rate for the bromine market?
The bromine industry has experienced robust growth in the past few years. The market, which stood at $5.23 billion in 2024, is projected to reach $5.74 billion in 2025, representing a Compound Annual Growth Rate (CAGR) of 9.7%. The historical expansion was largely driven by factors such as a rise in flame retardant needs in building materials and electronics, the broadening of the oil and gas sector, advancement in the pharmaceutical sector for creating medicines, legal policies promoting bromine use in water sanitation, and an escalated demand for clear brine solutions in oil and gas production.
Quick expansion is expected in the bromine market size over the coming years, with projections reaching $8.45 billion by 2029, escalating at a compound annual growth rate (CAGR) of 10.2%. The probable growth in this timeframe is due to environmental regulations favoring the implementation of bromine in flame retardants, the development of the energy storage and electric vehicle markets, alongside the increasing usage of bromine compounds in energy-efficient cooling systems. Other factors include the surging demand for bromine in water treatment as urbanization advances, and the acceptance of bromine in energy storage solutions such as flow batteries. Key trends predicted during this forecast period are a shift towards environmentally-friendly flame retardants, bromine recycling, expanding urbanization and water treatment, incorporation of bromine in energy-efficient electronics, and enhanced energy storage implementations.
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What new trends are reshaping the bromine market and its opportunities?
In the Global Bromine Market, key players are concentrating on technological advances like high-purity manufacturing techniques to upgrade product quality, boost efficacy, and satisfy the growing demand for bromine derivatives in diverse fields such as flame retardants, water purification, and pharmaceuticals. High Purity implies a material with extremely minimal contaminants, often surpassing 99% purity. For example, in June 2023, ICL GROUP LTD, a specialty minerals company based in Israel, introduced Water-Soluble Micronutrient and N-P-K Fertilizers. These products provide high purity, water-soluble N-P-K (Nitrogen, Phosphorus, Potassium), and crucial micronutrients designed to address specific crop nutrient requirements.
What major market segments define the scope and growth of the bromine market?
The bromine market covered in this report is segmented -
1) By Derivative: Organobromine, Clear Brine Fluids, Hydrogen Bromide
2) By Application: Biocides, Flame Retardants (FR), Bromine-Based Batteries, Clear Brine Fluids (CBF), Other Applications
3) By End User: Oil And Gas, Automotive, Agriculture, Pharmaceuticals, Cosmetics, Textiles, Other End Users
Subsegments:
1) By Organobromine: Flame Retardants, Biocides, Others
2) By Clear Brine Fluids: Calcium Bromide, Sodium Bromide, Zinc Bromide
3) By Hydrogen Bromide: Industrial Grade, Chemical Grade, Others
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Which region dominates the bromine market?
Asia-Pacific was the largest region in the bromine market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bromine market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Which key market leaders are driving the bromine industry growth?
Major companies operating in the bromine market include ICL Group Limited, Albemarle Corporation, Lanxess AG, Tosoh Corporation, TATA Chemicals Ltd., Gulf Resources Inc., Solaris Chemtech Industries Limited, Honeywell International Inc., Perekop Bromine, Hindustan Salts Ltd., Chemada Industries Ltd., Jordan Bromine Company Ltd., Shandong Weifang Longwei Industrial Co. Ltd., Agrocel Industries Pvt. Ltd., Israel Chemicals Ltd., TETRA Technologies Inc., Sujay Synthorg Chemicals Pvt. Ltd., Shandong Haiwang Chemical Co., Neogen Chemicals Ltd., Shandong Ocean Chemical Co. Ltd., Krishna Solvachem Ltd., Merck KGaA, Mody Chemi Pharma Ltd., Pacific Organics Pvt. Ltd., Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co. Ltd.
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What Is Covered In The Bromine Global Market Report?
•Market Size Forecast: Examine the bromine market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the bromine market for a structured understanding.
•Key Players Overview: Analyze major players in the bromine market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the bromine market.
•Segment Contributions: Evaluate how different segments drive overall growth in the bromine market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the bromine market.
•Industry Challenges: Identify potential risks and obstacles affecting the bromine market.
•Competitive Landscape: Review strategic developments in the bromine market, including expansions, agreements, and new product launches.
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