Market Research

Global Bromine Market was $3.1 billion in 2019, and is projected to reach $4.7 billion by 2026, at a CAGR of 6.2 %

Jul 1, 2020 5:00 PM ET

iCrowd Newswire – Jul 1, 2020

Bromine is a volatile and corrosive chemical element, which is a furious red-brown liquid at room temperature and willingly vaporizes to form metals at overwhelming pressures. It is a halogen having features of both chlorine and iodine. A crystalline mineral halide salt exists in various types, such as bromine fluids, hydrogen bromide, organobromine compounds, and others.

The request for bromine compounds as a flame retardant has augmented meaningfully due to its extensive use in public and industrial applications. Besides, the demand for brominated flame-retardants has amplified with uses in consumer electronics such as computers, mobile phones, and television. The request for brine fluids has been projected to see remarkable development due to their applications in drilling wells in the oil and gas industry to decrease the harm of the wellbore and dynamic zone. Bromine is also used in the water treatment process, which is also probable to surge the development of the market in the coming years.

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Bromine owns flame-resistant property and is being widely used in domestic and industrial usages. Bromine, as a water antiseptic, is gaining admiration and predictable to surge the development of the marketplace in the prediction. Bromine, as raw material or reactant in a copied chemical synthesis, will help expand the bromine market. Further, in pest control, bromine has a vital growth chance for stored products, mills, warehouses, and ships. Stringent governmental measures regarding the use of brominated flame-retardants in textile and electronic equipment have confined the market development.

Asia Pacific region is foremost the bromine market due to manufacturing facilities being shifted by large players from established markets such as Europe and North America to the Asia Pacific and Middle East & Africa. Abundant accessibility of labor and customers is also appealing market players to form their production facilities in the area.

Bromine Market is predictable to follow an upward trend because the population is growing worldwide. In the emerging Asian countries, such as India, China, and the USA, the demand for food products that are very reliant on crops is most significant. Therefore, shortly worldwide, grain demand would be motivated by these markets, which will lead to making further Bromine Market growth.

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Bromine is a chemical that is a fellow of the chemical family, this element used based on a wide diversity of copied and compounds, and it is mainly used as a fire retardant or to stop the fire—these blaze retardants utilized as inputs for the industrial process and products. Bromine is found in seawater and another water reservoir such as the Dead Sea. It belongs to the halogen group and is the only liquid nonmetallic element. An unstable part is reddish-brown and is mined from brine wells, seawater, salt lakes. In saltwater, bromine appears in a minimal capacity, and it is improved through the cure of seawater with chlorine gas. There is no need to make the bromine in the laboratory, as it is present commercially in the market. The bromine gas may cause throat, and eye irritation, so extreme precautions are taken while handling it.

Some of the leading players operating in the Global Bromine Market are Israel Chemicals Limited (Israel), Albemarle Corporation (U.S.), Tosoh Corporation (Japan), , Tata Chemicals Limited (India), Chemtura Corporation (U.S.), Jordan Bromine Company Limited (Jordan),  Gulf Resources Inc. (China), and Hindustan Salts Limited (India), Tetra Technologies Inc. (U.S.).

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Keywords:    Bromine Market, Bromine Market Size, Bromine Market Share, Bromine Market Growth, Bromine Market Trends, Bromine Market Forecast