Global Bromine Market Report and Forecast 2024-2032

Global Bromine Market Outlook

The global bromine market reached a value of USD 4.17 billion in 2023. The market is further expected to grow at a CAGR of 5% between 2024 and 2032 to reach a value of USD 6.47 billion by 2032. 

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The Asia Pacific Region to Represent a Significant Consumption and Production Base for Bromine

The Asia Pacific region was one of the most significant markets for bromine in 2020. The massive demand for organobromines in the Asia Pacific has been driven by a growing need for zinc-bromine flow batteries and increased flame-retardant products use in the region. China is one of the leading markets in the region.

China is one of the world's most extensive production bases for electronics. In the electronics sector, products, like smartphones, TVs, wires, and others, have recorded the highest growth. The nation not only serves the domestic electronics demand, but it also exports electronic products to other countries. In China, the manufacturing of electronics is expected to rise with the increasing purchasing power of the middle-class population and the increasing demand for electronic products exports from China. Thus, the rising demand for bromine-based batteries and flame-retardants is expected to rise as the electronics and construction sector increases.

India is also a significant producer in the market. Bromine is primarily used by flame retardants, batteries based on bromines, transparent salt fluids, and others. The electronics market in India is among the country's largest, as well as the fastest-growing sectors. As labour costs are increasing, many manufacturers are switching from China to India to satisfy the growing demand. Government schemes, such as Digital India, is also expected to boost the growth in the manufacturing of electronics. These factors are projected to increase the bromine demand in the region during the forecast period.

Bromine Market Segmentation

Bromine refers to a chemical that is primarily used as a fire retardant, or as a fire prevention product, by means of a wide range of derivatives and compounds. Such flame retardants are used as inputs to the production process and end products.

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On the basis of type, the market is divided into:

• Hydrogen Bromide
• Organobromine 
• Bromide Salts
• Others

Bromine finds wide application in the following segments:

• Biocides
• Flame Retardant
• Bromine-Based Battery
• Clear Brine Fluids (CBF)
• Fine Chemicals
• Agriculture Products
• Others

The regional markets for bromine include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Downstream Demand to Bolster the Market Growth of Bromine

The demand for bromine is expected to increase considerably between 2021 and 2026 owing to its increased demand from biocides, fire retardants, oil and gas drilling, plasma grafting and PTA synthesis segments. The consumption growth of bromine is expected to be boost by the demand for bromine in many industries like cosmetics, textiles, pharmaceutical, and agro-fumigant sectors. The application of bromine in flame retardants is expected to continue to boost the market growth in the coming years.

Key Industry Players in the Global Bromine Market

The report gives a detailed analysis of the following key players in the global bromine market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Israel Chemicals Ltd (ICL)
• LANXESS Corporation
• Albemarle Corporation 
• Jordan Bromine Company (JBC)
• Tata Chemicals Ltd.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report