Market Size of Bromine Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| 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 Market Analysis
The bromine market is projected to register a CAGR of more than 4% during the forecast period. The market was negatively impacted by COVID-19 in 2020. However, the market has now been estimated to have reached pre-pandemic levels and is expected to grow steadily in the future.
- The increasing demand for bromine in water treatment applications is expected to fuel market growth during the forecast period.
- On the other hand, non-halogenated flame retardants are likely to slow the growth of the market.
During the forecast period, the Asia-Pacific region is expected to have the most market share. This is because India, China, and Japan are all growing and becoming more developed.
Bromine Industry Segmentation
Bromine is a halogen chemical element and a red-brown liquid at room temperature. It has a pungent smell and causes irritation to the eyes and skin. The market is segmented on the basis of derivatives, applications, and geography. By derivative, the market is segmented into organobromines, bromide salts, and hydrogen bromide. By application, the market is segmented into biocides, flame retardants (FR), bromine-based batteries, clear brine fluids (CBF), and other applications. The report also covers the market size and forecasts for the market in 15 countries across the globe. For each segment, market sizing and forecasts have been done on the basis of volume (kilotons).
| Derivative | |
| Organo Bromines | |
| Bromide Salts | |
| Hydrogen Bromide |
| Application | |
| Biocides | |
| Flame Retardants (FR) | |
| Bromine-based Batteries | |
| Clear Brine Fluids (CBF) | |
| Other Applications |
| Geography | |||||||
| |||||||
| |||||||
| |||||||
| |||||||
|
Bromine Market Size Summary
The bromine market is anticipated to experience steady growth over the forecast period, driven by its increasing application in water treatment and as a key component in flame retardants. Despite the initial setback due to the COVID-19 pandemic, the market has rebounded to pre-pandemic levels. The demand for brominated flame retardants (BFRs) is particularly strong in the electronics and construction sectors, where they are used to enhance fire safety in products like TV sets, computer monitors, and various industrial materials. The rising construction activities, especially in regions like Asia-Pacific, are further propelling the demand for bromine compounds. Countries such as China and India are witnessing significant infrastructure development, which is expected to boost the consumption of bromine in the coming years.
China stands out as a leading producer and consumer of bromine, with its extensive electronics production base and burgeoning construction industry contributing to the high demand for brominated flame retardants. The country's focus on expanding its electric vehicle market also supports the growth of bromine applications, such as in zinc-bromine flow batteries. The market is characterized by a consolidated structure, with major players like ICL, Lanxess, and Albemarle Corporation actively shaping the competitive landscape. Recent strategic moves by these companies, such as ICL's introduction of a new bromine leakage treatment solution and Albemarle's organizational restructuring, highlight their efforts to capitalize on the growing market opportunities and address evolving customer needs.
Bromine Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Drivers
-
1.1.1 The Increasing Demand of Bromine in Water Treatment Applications
-
1.1.2 Other Drivers
-
-
1.2 Restraints
-
1.2.1 Emergence of Non-halogenated Flame Retardants
-
1.2.2 Other Restraints
-
-
1.3 Industry Value Chain Analysis
-
1.4 Porter's Five Forces Analysis
-
1.4.1 Bargaining Power of Suppliers
-
1.4.2 Bargaining Power of Consumers
-
1.4.3 Threat of New Entrants
-
1.4.4 Threat of Substitute Products and Services
-
1.4.5 Degree of Competition
-
-
-
2. MARKET SEGMENTATION (Market Size in Volume)
-
2.1 Derivative
-
2.1.1 Organo Bromines
-
2.1.2 Bromide Salts
-
2.1.3 Hydrogen Bromide
-
-
2.2 Application
-
2.2.1 Biocides
-
2.2.2 Flame Retardants (FR)
-
2.2.3 Bromine-based Batteries
-
2.2.4 Clear Brine Fluids (CBF)
-
2.2.5 Other Applications
-
-
2.3 Geography
-
2.3.1 Asia-Pacific
-
2.3.1.1 China
-
2.3.1.2 India
-
2.3.1.3 Japan
-
2.3.1.4 South Korea
-
2.3.1.5 Rest of Asia-Pacific
-
-
2.3.2 North America
-
2.3.2.1 United States
-
2.3.2.2 Canada
-
2.3.2.3 Mexico
-
-
2.3.3 Europe
-
2.3.3.1 Germany
-
2.3.3.2 United Kingdom
-
2.3.3.3 Italy
-
2.3.3.4 France
-
2.3.3.5 Rest of Europe
-
-
2.3.4 South America
-
2.3.4.1 Brazil
-
2.3.4.2 Argentina
-
2.3.4.3 Rest of South America
-
-
2.3.5 Middle-East and Africa
-
2.3.5.1 Saudi Arabia
-
2.3.5.2 South Africa
-
2.3.5.3 Rest of Middle-East and Africa
-
-
-
Bromine Market Size FAQs
What is the current Bromine Market size?
The Bromine Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Bromine Market?
ICL, Albemarle Corporation, LANXESS , Gulf Resources, Inc. and Jordan Bromine Company are the major companies operating in the Bromine Market.
