Please Wait.....
Report
Bromine Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 150 Pages I Mordor Intelligence
The bromine market size was estimated at over 550 kilotons in 2021, and the market is projected to register a CAGR greater than 4% during the forecast period 2022-2027.
The market was moderately impacted by the COVID-19 outbreak in 2020. Disruption in the global supply chain coupled with declines in the manufacturing sector impacted the market's growth. According to the International Energy Agency (IEA), the global oil and gas demand in 2020 was 90,000 barrels per day lesser than the demand in 2019. At the same time, the demand for pharmaceuticals and wastewater treatment increased owing to the pandemic, thus, impacting the demand in the bromine market during the study period.
Over the short term, the primary factor expected to be driving the market studied is the increasing demand for clear brine fluids (CBFs) in the oil and gas industry in North America. Government policies favoring the electric vehicle market, coupled with changing consumer buying behavior in the vehicle market, are likely to drive the market.
The emergence of non-halogenated flame retardants is expected to hinder the market's growth.
The shift toward energy storage is likely to act as an opportunity in the future.
Asia-Pacific dominated the market studied with more than 50% of the market's total volume.
Bromine Market Trends
Increasing Demand for Flame Retardants
Flame retardants account for the largest share in the bromine market. Despite the increasing regulations and ban on some bromine-based flame retardants, this segment is still dominating the market, owing to the effective characteristics of bromine in controlling fire.
Polybrominated diphenyl ether, polybrominated biphenyl, decabromodiphenyl ether, hexabromocyclododecane, and tetrabromobisphenol A are a few flame-retardant chemicals that are made using bromine.
According to the National Fire Protection Association (NFPA), in 2020, around 1.4 million fire incidents were reported in the US, causing a loss of USD 21.9 billion of property and thousands of lives. Additionally, with the growing demand for electrical and electronics products, coupled with various combustible materials in houses, flame retardants have become a crucial part of safety, thus, enhancing the market demand.
BFRs are commonly used to prevent fires in electronics and electrical equipment, which accounts for more than 50% of BFR applications. For instance, these flame retardants are extensively used in the outer housings of TV sets and computer monitors, as the internal circuitry of such devices can heat up and, over time, collect dust.
Also, the rising amount of construction activities worldwide is boosting the demand for bromine compounds in the aforementioned applications.
China to Dominate the Asia-Pacific Market
China is the fourth-largest producer of bromine, after Israel, Jordan, and the United States. Flame retardants are the largest application of bromine in China, followed by clear brine fluids and water treatment.
According to the US Geological Survey (USGS), in 2021, the expected bromine production in China amounted to 75,000 ton.
Brominated flame retardants are used to hinder or suppress combustion in commercial and industrial applications, such as furniture, textile, construction, electrical, etc.
Moreover, China has the world's largest electronics production base. According to ZVEI Dia Elektroindustrie, China's electronics industry was valued at about USD 2,430 million in 2020 and is forecast to grow at 11% and 8% Y-o-Y in 2021 and 2022, respectively, thus, providing a huge market for bromine.
As a result of the growing need for zinc-bromine flow batteries and the consumption of clear brine fluids in China, the demand for organo bromines is driving the bromine market.
China is one of the major markets for zinc-bromine flow batteries due to the region's growing electric vehicle market. In 2020, the battery electric vehicles and plug-in hybrid electric vehicle sales (combined) increased by 11.8% compared to 2019, reaching a total of 1,337 thousand units, according to EV Volumes.??
Therefore, the aforementioned factors are expected to increase the demand for bromine in China over the forecast period.
Bromine Market Competitor Analysis
The bromine market is highly consolidated in nature. Some of the major players in the market include ICL, Lanxess, Albemarle Corporation, Gulf Resources Inc., and Jordan Bromine Company, among others.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand for Clear Brine Fluids (CBFs) in North America
4.1.2 Growing Demand in Water Treatment Applications
4.2 Restraints
4.2.1 Emergence of Non-halogenated Flame Retardants
4.2.2 Environmental and Health Concerns Regarding Brominated Flame Retardants
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 Derivative
5.1.1 Organo Bromines
5.1.2 Bromide Salts
5.1.3 Hydrogen Bromide
5.2 Application
5.2.1 Biocides
5.2.2 Flame Retardants (FR)
5.2.3 Bromine-based Batteries
5.2.4 Clear Brine Fluids (CBF)
5.2.5 Other Applications (Chemical Intermediates)
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 US
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 UK
5.3.3.3 Italy
5.3.3.4 France
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Albemarle Corporation
6.4.2 Gulf Resources Inc.
6.4.3 Hindustan Salts Limited
6.4.4 Honeywell International Inc.
6.4.5 ICL
6.4.6 Jordan Bromine Company
6.4.7 Lanxess
6.4.8 Solaris Chemtech
6.4.9 Tata Chemicals Ltd
6.4.10 TETRA Technologies Inc.
6.4.11 Tosoh Corporation
6.4.12 Sujay Chemicals
6.4.13 Shandong Haiwang Chemical Co.
6.4.14 Neogen Chemicals Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security