Zion Market Research, the market research group announced the analysis report titled ‘Bromine Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024’
Global Bromine Market: Overview
Bromine is a naturally generated element and has no color; it is a soluble crystalline mineral halide salt. It is found in lakes, seas, and underground wells. It is used as catalysts and reactants for manufacturing different products including biocides, pharmaceuticals intermediates, completion fluids, photographic chemicals, agrochemicals, water disinfectants, dyes and flame retardants. The major resource of the bromine is the Dead Sea. Various derivatives of the bromine are used in the industries such as clear brine fluids, hydrogen bromide, and organobromine.
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Global Bromine Market: Segmentation
The bromine market is globally segmented into its derivative, application, end user, and regions. On the basis of the derivative, the global market is divided into hydrogen bromide, organobromines, and clear brine fluids. Based on the applications, the global market is segregated into flame retardants, oil and gas, plasma etching, PTA synthesis, biocides, medicinal, HBr flow battery, fumigant synthesis and others. The various end user industries where the bromine is used include cosmetics, pesticides, pharmaceuticals, textile, automotive and others. Regionally, the global market is diversified into Asia-Pacific, Europe, North America, Latin America and the Middle East and Africa.
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Global Bromine Market: Growth Factors
Increased applications of bromine such as photographic chemical, precision cleaning, organic intermediates, flame retardant, bleaching and oxidizing chemical, monomers for specialty polymers and son on are driving the global market. The textile and the electronic industries have a great demand for the flame retardants thus giving opportunities to the global bromine market growth. The oil and the drilling sector are growing at a fast rate but the chemical segment will remain at the top in the end use industry. The organobromine derivative is being utilized largely in the end user industries. The use of bromine has harmful effects, which hampers the market growth. The bromine flame retardants are considered to be toxic in nature thus giving rise to the environmental issues and also the health issues thus having an effect on the global market growth.
Global Bromine Market: Regional Analysis
The region that is having a good bromine market growth is the Asia-Pacific region. The reason for this growth is its increased utilization in the various industrial sectors. However, North America and Europe are the mature markets, which have the limited consumption of the bromine owing to its hazardous nature, adversely impacting the environment and health. The bromine consumption in the region of Latin America has grown significantly owing to the oil exploration activity in the region of Mexico. In Europe, there is the ban on the consumption of bromine in the industrial sectors as it is harmful to both the health and the environment.
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Global Bromine Market: Competitive Players
The major market players in the global bromine market include Israel Chemicals Limited, Tosoh Corporation, Chemtura Corporation, Gulf Resources Inc., Tetra Technologies Inc., Albemarle Corporation, Tata Chemicals Limited, Jordan Bromine Company Limited and Hindustan Salts Limited.
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