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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Bromine Derivatives Market: By Product Type, Others), By Application, and Geography
Bromine Derivatives Market: By Product Type, Others), By Application, and Geography
Bromine Derivatives Market size was valued at US$ 828.2 million in 2023 and is poised to grow at a significant CAGR of 5.3% over 2024-2030. The growing use age of bromine to control the emissions of mercury and increase in demand for halogenated flame retardants has positively impacted the market growth. Bourgeoning industries such as electronics, pharmaceuticals, and agriculture, alongside upcoming activities of construction in the Middle East and Asia Pacific, is projected to propel the market growth. Increasing consumption in China and India alongside booming manufacturing accomplishments is projected to up surge the market in the coming years.
However, growing use age of non-halogenated flame retardants is anticipated to dampen the growth of market. These substances are used to inhibit the growth of microorganisms and it is also used to prolong shelf life and preserve quality of diverse products comprising cleaning materials, glues & sealers, cosmetics, coatings & dyes, wood & paper. Numerous disinfectants are derived from halogen.
Study Period
2024-2030Base Year
2023CAGR
5.3%Largest Market
North AmericaFastest Growing Market
Asia Pacific
Bromine derivatives are used for various purposes such as flame retardants, oil & gas, pharmaceuticals, biocides, other. Pharmaceuticals is one of the leading application segment for bromine derivatives. The growth can be attributed to rising use age of NaBr for for the manufacture of anti-epileptic drugs (AEDs) and medicinal intermediates due to its anti-seizure properties. Growing oil & gas exploration undertakings has led to extensive use age of calcium bromide (CaBr) and NaBr such as drilling fluid for removal of petroleum products, which is enhancing the whole bromine derivatives market.
North America accounted for a major share in the market in terms of revenue and it is further projected to show dominance in the coming years. North America is the key region for the production of natural gas besides the region has also been witnessing stable progress in the making of shale gas, which thereby contributes significantly to the market growth. Investments made by MNC’s also accounts for the major driver in this region. Asia Pacific is the second leading region followed by North America. Widespread occurrence of major companies investing hefty amounts in R&D activities for product development such as Tosoh Corporation and Lanxess has positively impacted the market growth.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 828.2 million |
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Market CAGR |
5.3% |
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By Product Type |
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By Application |
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By Region |
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The global bromine derivatives market size was valued at US$ 828.2 million in 2023 and is projected to grow at a CAGR of 5.3% from 2024-2030.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
The bromine derivatives market key players are Honeywell International, Perekop Bromine Factory, Israel Chemicals Ltd., Tata Chemicals Ltd, Tosoh Corporation, Jordan Bromine Company
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.