Bromine Derivatives Market Analysis, COVID-19 Overview, Demand and Industry Overview 2023
Bromine Derivatives Market Synopsis
The global bromine derivatives market is expected to register a
CAGR of 4.41% during the review period. Bromine is found in high concentration
in seawater, salt lakes, and underground brines. Bromine derivatives find use
in numerous applications such as electronics, construction, chemicals, water
treatment, and oil & gas, among others. The global demand for bromine
derivatives is primarily driven by widespread use as a flame retardant in
numerous electronics products and construction applications. The use of
bromine-based products has increased in controlling mercury emissions from
coal-fired power plants and industrial boilers.
Bromine Derivatives Market Segmentation
The global bromine derivatives industry has been
segmented by product type, application, end-use industry, and region.
On the basis of product type, the global market has been classified
into calcium bromide, sodium bromide, zinc bromide, hydrogen bromide,
decabromodiphenyl ethane (DBDPE), tetrabromobisphenol A (TBBPA), and others.
Zinc and calcium bromides are widely used in the production of non-damaging
fluid with densities ranging from 15.1 lb/gal to 19.2 lb/gal and 11.7 lb/gal to
15.1 lb/gal, respectively. Both zinc bromide and calcium bromide possess
thermal and chemical stability and can also be blended with other solutions
containing bromides and chloride. Sodium bromide is used in numerous
applications including oilfield, water treatment, pulp & paper, and
pharmaceuticals. Decabromodiphenyl ethane (DBDPE) and Tetrabromobisphenol A
(TBBPA) are used as bromine flame retardants in the electrical &
electronics and construction industries.
Based on application, the global market has been divided into
flame retardants, organic intermediate, oil & gas drilling, biocides, PTA
synthesis, and others. The flame retardants segment accounted for the largest
share of the global bromine derivatives market growth in 2018 owing
to increasing use in various electronic products and construction applications.
However, rising concern about the use of flame retardants on human health and
environment is likely to affect the growth of the global bromine
derivatives market. Bromine compounds are being widely used as organic
intermediates in producing other chemicals. The oil and gas drilling segment is
expected to register significant growth during the review period on account of
the increase in oil and gas exploration activities in the developing countries.
Bromine compounds are also being used in agrochemicals to prevent crop damage
and in the transportation industry as specialty rubber for tire manufacturing
to improve tire strength and resistance to leakage.
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Bromine Derivatives Market Regional Analysis
Based on region, the global bromine derivatives
market growth has been segmented into
North America, Europe, Asia-Pacific, Latin America, and the Middle East &
Africa. The market in Asia-Pacific accounted for the largest share of the
global bromine derivatives market and is expected to register continuous growth
during the review period on account of the growth of the major end-use industries
such as electrical & electronics, construction, chemicals, and oil &
gas.
Europe is also expected to be a prominent market on account of the
expanding water treatment industry in the region with increasing regulations
for treating wastewater to meet the rising water scarcity in the region.
Bromine Derivatives Market Competitive Analysis
Some of the key players operating in the global bromine
derivatives market are Albemarle Corporation (US), Tosoh Corporation (Japan),
PACIFIC ORGANICS PVT Ltd (India), BEACON ORGANOSYS (India), Honeywell
International Inc.(US), APK (India), LANXESS (Germany), TETRA Technologies,
Inc. (US), ICL (Israel), and Neogen Chemical Limited (India).
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