According to IMARC Group latest report titled” Bromine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market is currently witnessing strong growth. The global Bromine Market to exhibit moderate growth during the next five years. Bromine is a fuming red-brown liquid with corrosive chemical properties that readily evaporates at high pressures. It is a halogen with properties similar to chlorine and iodine, and is naturally found inside the Earth’s crust and extracted through electrolysis. As a result, bromine is widely utilized in the production of organobromine compounds. These compounds are used to produce halon fire extinguishers that are used to prevent fires in places such as museums, airports, and tanks.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Trends:
The rising food insecurity concerns and decreasing arable land availability are primarily driving the use of bromine to improve crop yields while catering to the nutritional requirements. Besides this, the government bodies of numerous countries are encouraging the adoption of modern agricultural practices that involve long-term storage of products, including grains, cotton, fresh fruit, vegetables, etc., which is further propelling the product demand. Moreover, the increasing need to control pests from degrading products stored for extended periods is also catalyzing the utilization of bromine. Apart from this, the expanding food and beverage (F&B) industry is further bolstering the usage of bromine as an emulsifier in beverages, which is augmenting the global market. Additionally, the growing product applications in manufacturing fumigants, dyestuffs, textiles, water purification compounds, chemical intermediates, etc., are expected to bolster the bromine market in the coming years.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Albemarle Corporation
- Chemada Industries Ltd.
- Gulf Resources Inc.
- Hindustan Salts Limited
- Honeywell International Inc.
- ICL Group Ltd.
- Jordan Bromine Company Limited
- Lanxess AG
- Solaris Chemtech Industries Limited (Agrocel Industries Pvt. Ltd.)
- Tata Chemicals Limited
- TETRA Technologies Inc.
- Tosoh Corporation
Bromine Market Segmentation:
Our report has categorized the market based on region, derivative, application and end user.
Breakup by Derivative:
- Hydrogen Bromide
- Organobromine Compounds
- Bromine Fluids
- Others
Breakup by Application:
- Biocides
- Flame Retardants (FR)
- Bromine-Based Batteries
- Clear Brine Fluids (CBF)
- Others
Breakup by End User:
- Chemicals
- Oil and Gas
- Pharmaceuticals
- Agriculture
- Textiles
- Electronics
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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