Bromine Derivatives Market to Grow at 7% CAGR, Reaching $6.92 Billion by 2029

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Bromine Derivatives Market Outlook: How is the Market Expected to Grow by 2025?
In the past few years, the size of the bromine derivatives market has been expanding consistently. We can expect the market value to rise from $5.09 billion in 2024 to $5.28 billion in 2025, reflecting a compound annual growth rate (CAGR) of 3.9%. The previous growth observed can be credited to factors like a shift towards halogenated chemicals, heightened demand in the electronics and construction sectors, applications in agriculture and veterinary fields, chemical manufacturing, and the demand for flame retardants.

Bromine Derivatives Market Forecast: What Size Will It Reach By 2029?
The market size for bromine derivatives is predicted to witness robust growth in the coming years, escalating to $6.92 billion in 2029 with a compound annual growth rate (CAGR) of 7.0%. The upcoming growth for the foreseeing era can be linked to the emphasis on eco-friendly alternatives, the transition towards halogenated chemicals, applications in agriculture and veterinary sectors, the burgeoning oil & gas industry, and requirements for water treatment. Significant trends for the forecast period encompass increasing demand in flame retardants and water treatment, enhanced health and safety regulations, growth in oil & gas drilling, as well as pharmaceutical and chemical production.

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Which Key Market Drivers Will Shape Bromine Derivatives Industry Trends in 2025-2029?
The worldwide escalation in the construction sector is projected to fuel the expansion of the bromine derivatives market. The construction sector includes the industrial aspect of manufacturing and commerce, responsible for creating, restoring, modernizing, and preserving structures. Bromine derivatives are employed in the fabrication of intricate infrastructure due to their congruity with various non-metallic building materials such as fiberglass-reinforced plastic, polyvinyl, among other related elements. For example, the Office for National Statistics, a government agency in the UK, reported in December 2022 that construction output witnessed a 0.8% surge in volume in October 2022. This represented the highest construction output, amounting to $16576.33 million (£15,248 million) in comparison to the preceding four consecutive months. Therefore, the global upsurge in the construction sector is stimulating the market for bromine derivatives.

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What Are the High-Growth Segments in the Bromine Derivatives Market?
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

Subsegments:
1) By Sodium Bromide: Industrial Applications, Pharmaceutical Uses
2) By Calcium Bromide: Oil And Gas Industry, Brine Fluids
3) By Zinc Bromide: Fire Retardants, Oil Well Drilling Fluids
4) By Tetrabromobisphenol A (TBBPA): Flame Retardant Applications, Electronics
5) By Dodecyl Diphenyl Ether (DPDPE): Surfactants, Lubricants
6) By Other Derivatives: Brominated Flame Retardants, Brominated Vegetable Oil (BVO), Others

Which Global Trends Are Driving Bromine Derivatives Market Expansion?
In the bromine derivatives market, product innovation is emerging as a dominant trend. To solidify their market positions, key players in this market are turning to the development of innovative solutions. As an illustration of this, De Nora, a company that operates out of Italy and specializes in electrochemistry, debuted their MIOX Bromine Oxidant Solution System in September 2022. This system significantly improves the treatment process for water with high concentrations of ammonia or pH, which are vital parameters for cooling tower applications. The chlorine-containing solution produced using this on-site generator is transformed into a bromine-laden solution by the MIOX BOSS, which utilizes a bromide-containing activator solution. It is primarily employed for cooling towers, where to mitigate corrosion, operators regularly deploy an alkaline treatment. To produce these oxidizing solutions, MIOX generators use three easily accessible consumables: water, salt, and electricity.

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Who Are the Fastest-Growing Companies in the Bromine Derivatives Industry?
Major companies operating in the bromine derivatives market include Albemarle Corporation, Israel Chemicals Limited, Lanxess Corporation, Honeywell International Inc., Tata Chemicals Ltd., Tetra Technologies Inc., Jordan Bromine Company Ltd., Beacon Organosys Pvt. Ltd., Morre-Tec Industries Inc., 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

What Is the Regional Outlook for the Bromine Derivatives Market by 2029?
Asia-Pacific was the largest region in the bromine derivatives market in 2024 and is expected to be the fastest-growing region in the bromine derivatives market during the forecast period. The regions covered in the bromine derivatives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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This release was published on openPR.