Market Size of Bromine Derivatives Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Bromine Derivatives Market Analysis
The global bromine derivatives market is estimated to register a CAGR of over 5% during the forecast period.
The COVID-19 outbreak caused nationwide lockdowns globally, which disrupted many industrial sectors like building & construction, electronics manufacturing, and oil & gas drilling operations leading to a slowdown in demand for bromine derivatives. However, the conditions began to improve in 2021, as most of the electronics, oil & gas drilling, and construction industries recovered, which is expected to boost the market growth during the forecast period.
- Increasing the use of bromine derivatives in water disinfection and industrial cooling water treatment purposes will further drive the demand. Bromine derivatives are used as antiseptics, hypnotics, anticonvulsants, and sedatives in the pharmaceutical industry. Demand for bromine derivatives is expected to rise in accordance with the growth of the pharmaceutical and water treatment industries.
- Global demand and supply for oil is expected to continue fluctuating with rising geopolitical tensions. This could potentially affect the demand for bromine derivatives with applications in the oil and gas drilling industry.
- Nevertheless, with bromine derivatives being used as an intermediate in many chemical, pharmaceutical, and agro-industries, the demand and consumption are expected to grow during the forecast period.
- The Asia-Pacific region is expected to dominate the global market and is also likely to witness the highest CAGR during the forecast period.
Bromine Derivatives Industry Segmentation
Derivatives that are made with the formulation of bromine halogen are called bromine derivatives. A few types of bromine derivatives that are widely used in different industries are inorganic bromides, alkyl bromides, hydrobromic acid, and dimethyl hydantoin (DBDMH), among others. Bromine derivatives find their way into many end-user applications including pharmaceutical intermediates, flame-retardants, water treatment, and in the manufacturing of pesticides. It is also widely used in oil and gas drilling, and completion fluids. The global bromine derivatives market is segmented by type (bromobenzene, bromochloro propane, n-propyl bromide, inorganic bromides, alkyl bromides, and other types), application (pharmaceutical, chemical synthesis, solvent, flame retardants, water treatment, and other applications) and geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report also covers the market size and forecasts for the laminated adhesives market in 16 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of value (USD Million).
Bromine Derivatives Market Size Summary
The bromine derivatives market is poised for significant growth, driven by its expanding applications across various industries. The market is recovering from the disruptions caused by the COVID-19 pandemic, with sectors such as electronics, oil and gas, and construction rebounding, thereby boosting demand for bromine derivatives. These derivatives are increasingly utilized in water disinfection and industrial cooling water treatment, as well as in the pharmaceutical industry for their antiseptic and sedative properties. The fluctuating global oil demand, influenced by geopolitical tensions, may impact the market, but the broad use of bromine derivatives as intermediates in chemical, pharmaceutical, and agro-industries is expected to sustain growth. The Asia-Pacific region is anticipated to lead the market, benefiting from the robust development of its pharmaceutical and chemical industries.
The demand for bromine derivatives is further bolstered by the rising need for sustainable water treatment solutions, where they are used as effective biocides in industrial applications. The growth of the water treatment industry, alongside the pharmaceutical sector's expansion in Asia-Pacific, particularly in China and Japan, is a key driver for the market. The region's pharmaceutical industry is experiencing rapid growth, supported by increased healthcare spending and a favorable regulatory environment, while the chemical industry is also on an upward trajectory. Major players in the bromine derivatives market, such as Albemarle Corporation and LANXESS, continue to influence market dynamics. Regulatory changes, like those from the Environmental Protection Agency regarding methyl bromide, also play a role in shaping market conditions.
Bromine Derivatives Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increased Usage of Biocide in Water Treatment Industry
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1.1.2 Bromine Derivatives as Intermediates in Chemical, Pharmaceutical and Agro Industries
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1.2 Restraints
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1.2.1 Reduced Oil and Gas Demand Owing to Geopolitical Tensions
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Derivatives
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2.1.1 Bromo Benzene
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2.1.2 Bromo Chloro Propane (BCP)
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2.1.3 n-Propyl Bromide (NBR)
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2.1.4 Inorganic Bromides
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2.1.5 Alkyl Bromides
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2.1.6 Other Derivatives
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2.2 Application
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2.2.1 Pharmaceutical
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2.2.2 Chemical Synthesis
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2.2.3 Solvent
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2.2.4 Flame Retardants
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2.2.5 Water Treatment
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2.2.6 Other Applications
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Spain
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2.3.3.6 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Bromine Derivatives Market Size FAQs
What is the current Bromine Derivatives Market size?
The Bromine Derivatives Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Bromine Derivatives Market?
Albemarle Corporation, LANXESS, Jordon Bromine Company, Gulf Resources and Tata Chemicals Ltd. are the major companies operating in the Bromine Derivatives Market.
