Bromine Market 2015-2025 Growth and Forecast
Bromine belongs to halogen group and is the only liquid nonmetallic element. It is volatile element that is reddish-brown in color and is extracted from seawater, salt lakes, and brine wells. In seawater bromine appears in very small amount and it is recovered through the treatment of seawater with chlorine gas. There is no need to produce the bromine in laboratory as it is present commercially in the market. The bromine vapor may cause throat and eye irritation so maximum precautions are taken while handling it.
The growing consumption of bromine in various industries such as pharmaceuticals, Pesticides and water treatment industry is poised to show an impressive growth for global bromine market during the forecast period 2015-2020.
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Bromine Market: Drivers & Restraints
The demand for global bromine market is anticipated to show considerable growth during the forecast period 2015-2020 due to its increased demand in several applications such as biocides, flame retardants, oil & gas drilling, plasma etching, and PTA synthesis. The growth in Bromine consumption by numerous industries such as cosmetic industry, textile industry, pharmaceuticals and Agro-Fumigants is set to fuel the demand for bromine market. Though bromine is very vital element for various industries and used in large scale, it has some negative effects also. Brominated flame retardant are considered toxic in nature. Thus, rising environmental concern such as water and soil pollution due to bromine may affect the demand for global bromine market.
Bromine Market: Market Segmentation
The global bromine market is broadly classified into six segments by applications
Oil & Gas drilling
Flame retardants is the biggest application among all other bromine applications and expected to show tremendous growth during the forecast period.
The global bromine market is broadly classified into five segments by end user industry
The global bromine market is broadly classified into five segments by derivatives
Clear brine fluids
Among all Organobromines is the largest derivative for bromine.
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Bromine Market: Regional Outlook
Depending on geographic regions, global endoscopy visualization systems and components market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. As of 2015, Asia-pacific is the largest market in global bromine industry followed by North America and Western Europe. In Asia Pacific region China is the largest market for bromine and it is the world’s third largest producer of Bromine after U.S. and Israel. Growing automotive and construction industries in Asia Pacific region and their increasing consumption of bromine are the major drivers for Asia Pacific bromine market.
Bromine Market: Market Players
Major players operating in Global bromine market are, Israel Chemicals Limited (Israel), Albemarle Corporation (U.S.), Tosoh Corporation (Japan), , Tata Chemicals Limited (India), Chemtura Corporation (U.S.), Jordan Bromine Company Limited (Jordan), Gulf Resources Inc. (China), and Hindustan Salts Limited (India), Tetra Technologies Inc. (U.S.), are some of the major manufacturers of bromine in the world.
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Global Bromine Market Overview Bromine is a natural element, found in lakes, sea and underground bores and mines. It is generally used in biocides, water treatment plants and pharmaceutical industries owing to its property of catalyst and reactant. Bromine and its derivatives have wide-scale application in several industries such as oil and gas industry. The global bromine market is predicted to flourish significantly at a CAGR of 11.7% over the forecast period
Global Bromine Market : Asia-Pacific Demanding Region
Global demand for bromine market will reach 483 kilo metric tons (KMT) in 2016, up from 470 KMT in 2015. Demand will be impeded by growing regulation and legislation, especially in the European Union (EU), where the use of certain brominated flame retardants is banned or restricted. Request Report Sample @ http://www.persistencemarketresearch.com/samples/4274 Flame retardants will continue to remain the largest application segment, accounting for 203 KMT volume in 2016, a y-o-y increase