The bromine market, which is anticipated to expand in the upcoming years, reflects this rise in demand.
SANTA ROSA, CALIFORNIA, UNITED STATES, June 16, 2023/EINPresswire.com/ — At ambient temperature, bromine, a type of halogen group ionic element, is a reddish-brown liquid. It irritates the epidermis and eyes and contains a strong fragrance. Market segments are created based on location, applications, and substitutes. Bromide salts, carbon bromine compounds, and hydrogen bromide are the market segments according to derivative.
𝐆𝐄𝐓 𝐀 𝐒𝐀𝐌𝐏𝐋𝐄 𝐑𝐄𝐏𝐎𝐑𝐓: https://www.insightslice.com/request-sample/824
The market is divided into many application categories, including pesticides, flame retardant substances (FR), bromine-based battery packs, transparent brine fluids (CBF), as well as additional uses. The research also includes market dimensions and projections for 15 other countries throughout the world. Market estimation and forecasting have been carried out for each category based on quantity (kilotons).
𝐔𝐬𝐞𝐬 𝐚𝐧𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡:
The 𝐠𝐥𝐨𝐛𝐚𝐥 𝐛𝐫𝐨𝐦𝐢𝐧𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐢𝐳𝐞 was estimated to be US$ 3.4 billion in 2022 and is expected to reach US$ 5.2 billion by 2032 at a CAGR of 4.3%. Because it effectively puts out fires, bromine is frequently used as a component in flame-retardant substances. There are about 80 different varieties of bromine-based flame retardants (BFRs) in the marketplace, each with a unique set of chemical characteristics.
Brominated bisphenols, phenoxy ethers, cyclododecanes, phenols, methoxy ethanes, and compounds of phthalic acid, among others, are a few of these. BFRs are frequently used to stop electronic and electrical gadgets from catching fire. Because the interior electronics of these kinds of equipment can heat up and eventually accumulate dust, such chemical compounds are frequently employed on the exterior enclosures of TV sets and displays for computers, for example. In order to prevent or delay the spread of fire, bromine-based flame retardants are also utilized in industrial and commercial contexts, such as in household items, clothing, building, electrical, etc.
With an increasing need for bromine, the international bromine market is expanding. Customers in these sectors include oil and gas, textile, automotive, aerospace, beauty products, and medicines are becoming increasingly popular in this global industry. The market for bromine is now being driven by an increase in the element’s consumption. This is mostly because of its distinct characteristics, which make it perfect for usage in a range of industries.
For instance, bromine is employed as an insecticide, an aquatic cleaner, and a flame retardant. Bromine is increasingly in demand because of its usage in a number of industries, notably flame retardants, water purification, and farming. The bromine market, which is anticipated to expand in the upcoming years, reflects this rise in demand.
Don’t miss out on the opportunity to speak to our analyst and know more insights about this industry report. Our analysts can also help you customize this report according to your needs, within stipulated time frame.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐓𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭:
Organobromides, Aqueous Brine Fluid, and Hydro Bromide are included in the derivatives-based segmentation of the bromine industry. In 2022, the Bromine Market’s revenue was dominated by the Organobromides sector. Due to the extensive usage of brominated chemicals in several functions, such as flame retardants, insecticides, and drilling for oil and gas, this sector is expected to keep on leading the market for the duration of the projected period.
The Bromine Market is segmented according to applications such as Arsenic Emission Control, Petroleum and Natural Gas Drilling, and Fire Retardants. Throughout the forecast period, 2023–2030, the sector for flame retardants is expected to increase at a faster rate than any other. This category controlled the market in 2022. The major usage for bromine is in flame retardant chemicals.
Over the course of the forecast period, this kind of use is anticipated to develop as a result of the expanding need for flame retardant materials in the development, automotive, and semiconductors industries. The aforementioned all have a beneficial effect on the market expansion for bromine.
The biggest bromine market share is anticipated to occur in the Asia-Pacific region. This is attributable to the region’s increasing need for bromine from a variety of industries, including the drugs, electronics, and automobile industries. Additionally, the area is home to a number of the biggest bromine exporters in the world, including China and India.
Globally expanding construction projects are driving up sales of bromine chemicals for use in the previously mentioned applications. The construction industry in India is also expected to show a strong 6.2% growth from 2023 to 2026 as a result of an abundance of projects for infrastructure in numerous industries. In the upcoming years, all of these factors will increase demand for items containing bromine.
From 2023 to 2030, North America’s bromine marketplace is anticipated to experience the highest rate of compound annual growth. This is explained by the rising demand for chemicals to treat water and flame-retardant substances in the area. A variety of businesses require bromine since it is a crucial component in many fire retardant and water-purification compounds. The North American bromine market is anticipated to increase rapidly over the coming decades as a result of increasing consumer demand and solid supply infrastructure.
The leading companies in the global bromine market include JBC, Albemarle Corporation, Honeywell International Inc, ICL, Tosoh Corporation, LANXESS, TETRA Technologies, Inc, Aaa Salt & Chemicals Pvt. Ltd, Hindustan Salts Ltd, MORRE-TEC Industries, BEACON ORGANOSYS, A. B. Enterprises, JK Chemicals (JKC), Hexagon Ingredients, Aaa Salt & Chemicals Pvt. Ltd, Tata Chemicals Ltd., Perekop bro.
𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐝𝐞𝐫𝐢𝐯𝐚𝐭𝐢𝐯𝐞
• Organo bromines
• Bromide salts
• Hydrogen bromide
𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐚𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧
• Flame retardants
• Bromine-based battery
• Clear brine fluids
𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐞𝐧𝐝 𝐮𝐬𝐞
• Oil & gas
• North America
> United States
> Rest of North America
> United Kingdom
> Rest of Europe
• Asia Pacific
> South Korea
> Rest of Asia Pacific
• Middle East & Africa
> Saudi Arabia
> South Africa
> Rest of the Middle East & Africa
• South America
> Rest of South America
𝐁𝐔𝐘 𝐓𝐇𝐈𝐒 𝐏𝐑𝐄𝐌𝐈𝐔𝐌 𝐑𝐄𝐒𝐄𝐀𝐑𝐂𝐇 𝐑𝐄𝐏𝐎𝐑𝐓: https://www.insightslice.com/buy-now/824
insightSLICE is a market intelligence and strategy consulting company. The company provides tailor-made and off-the-shelf market research studies. The prime focus of the company is on strategy consulting to provide end-to-end solutions.