Bromine market is expected to grow from USD 3.3 billion in 2021 to USD 4.1 billion by 2026, at a CAGR of 4.5% from 2021 to 2026
Growing demand for bromine in flame retardants, mercury emission control, water treatment and biocides, oil and gas drilling, and PTA synthesis is expected to drive the bromine market. The flame retardant applications segment is expected to grow at the highest CAGR during the forecast period.
New York, October 01, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Bromine Market by Derivative, Application & Region – Global Forecast to 2026” – https://www.reportlinker.com/p05061073 /? Utm_source = GNW
On the basis of application, the flame retardant applications segment is expected to grow at the highest CARG during the forecast period. Brominated flame retardants (BFRs) are bromine-containing compounds that are added to materials to inhibit or reduce combustion.
BFRs are more widely used than other chemical flame retardants on the market. Polybrominated diphenyl ethers (PBDEs), polybrominated biphenyls (PBBs) and brominated cyclohydrocarbons are some examples of BFRs.
Growing demand from the electronics and automotive industries (due to strict fire safety regulations) and expanding shipbuilding industries are driving the flame retardant market across the globe.
The Clear Brine Derivatives segment is expected to grow at the highest CAGR during the forecast period.
On the derivative basis, the clear brine segments are expected to grow at the highest CAGR during the forecast period. Clear brine is a dense solution of calcium bromide (CaBr2), sodium bromide (NaBr), and zinc bromide (ZnBr2) in salt water.
It is mainly used in borehole penetration for oil and natural gas drilling. Calcium bromide and zinc bromide brines are used in inhibiting shale and drilling salt formations.
Brine fluids are used in refrigeration plants for the transport of thermal energy. The increasing demand for clear brine fluids in regions such as Asia-Pacific and North America can be attributed to the increase in shale gas recovery operations in China and the United States, representing a significant amount of shale gas. reservations.
This is expected to fuel drilling and exploration activity in these regions, thus fueling bromine growth.
Asia-Pacific is expected to register the highest CAGR in the bromine market during the forecast period.
Asia-Pacific is expected to grow at the highest CAGR of the bromine market from 2021 to 2026. The Asia-Pacific bromine market has grown in recent years, owing to the growth of countries’ economies and the increasing consumption of bromine in major industries. , such as electronics, oil and gas, agriculture, automobiles and construction.
Substantial infrastructure development and increasing demand for flame retardants in automotive, construction and insulation are expected to boost the bromine market in this region. Southeast Asia, including Indonesia, Malaysia, Thailand, and Vietnam, is also a rapidly growing bromine market.
The demand for bromine in brominated flame retardants has been increasing in recent years, exceeding the supply of bromine.
Breakdown of the profile of the main participants in the report:
• By type of business: level 1 to 40%, level 2 to 20% and level 3 to 40%
• By designation: C-level executives – 20%, directors – 50% and others – 30%
• By region: Asia-Pacific – 30%, Europe – 40%, North America – 20%, Middle East and Africa – 5% and South America – 5%
Further, as part of the qualitative analysis of the Bromine market, the research provides a comprehensive examination of the drivers, restraints, opportunities, and challenges influencing the market growth across the globe. It also discusses the competitive strategies adopted by major market players such as ICL Group Limited (Israel), Albemarle Corporation (United States), Lanxess AG (Germany), Tosoh Corporation (Japan), Gulf Resources Inc. (China), TETRA Technologies, Inc. (United States), Solaris Chemtech Industries Ltd. (India), TATA Chemicals Ltd (India), Honeywell International Inc. (United States) and Perekop Bromine (Russia).
The report defines, segments, and projects the size of the bromine market on the basis of application, derivative, and region. It provides a strategic profile of the main players and an in-depth analysis of their market share and core competencies.
It also monitors and analyzes competitive developments such as extensions, new product developments, investments, acquisitions and agreements entered into by them in the market.
Reasons to buy the report:
The report is expected to assist the market leaders / new entrants in the market by providing them with the closest approximations to the revenue figures of the Bromine market and its segments. This report is also expected to help stakeholders to better understand the competitive landscape of the market, gain insights to improve the position of their businesses, and develop suitable go-to-market strategies.
It also enables stakeholders to understand the pulse of the market and provide them with insight into key market drivers, restraints, challenges and opportunities.
Read the full report: https://www.reportlinker.com/p05061073/?utm_source=GNW
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