Bromine Market Share, Revenue, Scope, Business Size, Global Trends by 2023
Posted by Moin Patni on January 30th, 2019
Bromine Market Overview:
Governments across the globe are focusing on the fire safety in industrial environments. Such safety concerns are resulted into government regulations and guidelines for various end use industries. With the growth of such industries, which include automotive, construction, electrical & electronics, bromine demand in flame retardant application is growing at faster pace.
Increasing fire safety regulations in various industries is estimated to be the most prominent driving factor for the global bromine market. Large part of bromine that is produced annually is consumed for the flame-retardant application. In 2016, around 46% of the overall bromine produced was consumed for flame retardant application.
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Bromine Market Key Players:
Albemarle Corporation (U.S.), Chemtura Corporation (U.S.), Tosoh Corporation (Japan), Gulf Resources Inc. (China), Tata Chemicals Limited (India), Israel Chemicals Limited (Israel), Jordan Bromine Company Limited (Jordan), Tetra Technologies Inc. (U.S.), and Hindustan Salts Limited (India).
Bromine Market Segmental Analysis:
The global bromine market is segmented into derivatives, application, and end-user industry. On the basis of the derivatives, the market is segregated into organobromines, clear brine fluid, hydrogen bromides, others. The market by the application is further categorized into flame retardants, mercury emission control, oil and gas drilling, BHR flow batteries, water treatment, pesticides, and others. On the basis of the end use industry, the market is segregated into oil & gas, automotive, agriculture, pharmaceuticals, cosmetics, textiles, and others.
Bromine Market Regional Analysis:
Based on geography, global market is classified as North America, Europe, Latin America, Asia-Pacific, and Middle East & Africa. Among these regions, Asia Pacific is the largest producer aand consumer of bromine. This is attributed to the higher production and consumption bromine in China. China accounts more than 25% of the global bromine prodction. China also accounts for significant share in global bromine trade. It imports 25% of its bromine consumption. Countries namely, China, Israel, the United States, and japan cumulatively account for more than 95% of the global bromine production. Asia Pacific market is followed by North America, and Europe, respectively.
Bromine Market Competitive Analysis:
Bromine producers are concentrated in very few countries. This is attributed to the access to the raw material resources available in few regions. Leading bromine manufacturers are situated in United States & China.
Industry/ Innovation/ Related News:
May 2015: Tosoh Corporation, Japan entered into a sales agreement with Chemtura to sale its polymer based brominated flame-retardant product in Japan. This news highlights the growing demand of flame retardant in matured markets. Although, brominated flame retardants are restricted in some of the markets, its demand is growing in major markets.
Jan 2017: Albemarle Corporation has announced the price hike by 5% for its bromine products. The company has raised the price in order to offset increased raw material price. This has underlined the manufacturers struggling to access consistent and low-price supply of raw materials
Bromine Market Table of Content to be Continue…...,
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