Bromine is a chemical compound with atomic number 35 and a third-lightest halogen compound. It is a fuming red-brown liquid at room temperature and its properties are almost similar to chlorine and iodine. Bromine derivatives are widely used in the controlling mercury emission and halogenated flame retardants. Moreover, bromine derivatives are also used in the manufacturing of rechargeable batteries. Some of the end-use application of bromine derivatives are pharmaceuticals, agriculture, and electronics, along with growing construction.
The global bromine derivatives market was valued at US$ 3,973.7 Mn in 2018 and is expected to reach US$ 5,628.9 Mn by the end of 2027, growing at a CAGR of 4.0% during the forecast period (2019 to 2027).
Drivers:
Growing demand for bromine derivative from automotive and consumer electronics industries is expected to fuel the market growth of bromine derivatives. Bromine derivatives are used in the production of flame retardant electronic products in the automotive industry. Moreover, the rising application of bromine derivative from the oil and gas industry in the drilling of fluid for extracting petroleum product is further expected to fuel the market growth of bromine derivatives over the forecast period. Additionally, growing number of manufacturing industries, especially in India and China, are further projected to propel the market growth.
In 2020, the Bromine Derivatives market size was USD million and it is expected to reach USD million by the end of 2026, with a magnificent compound annual growth rate between 2021 and 2026.
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Global is expected to have high consumption in the next few years. For the demand for Bromine Derivatives, the price and is expected to increase but on a small scale. Market Segment by Manufacturers, this report covers: Israel Chemicals Limited, Albemarle Corporation, Tosoh Corporation, Tata Chemicals Limited, Chemtura Corporation, Jordan Bromine Company, Gulf Resources Inc., Hindustan Salts Limited, and Tetra Technologies Inc.
The Global Bromine Derivatives Market evaluated the report on the basis of various attributes such as manufacturing base, products or services, and raw material to understand the requirements of the businesses. This report would help stakeholders understand the competitive landscape and gain insights to better position their businesses.
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Years Considered to Estimate the Bromine Derivatives Market Size:
History Year: 2015-2019
Base Year: 2021
Estimated Year: 2021
Forecast Year: 2021-2028
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