What are the Historical Developments and Current Growth Metrics of the Bromine Derivatives Market?
The bromine derivatives market has seen considerable growth due to a variety of factors.
• The market size of bromine derivatives has seen robust growth in the past few years. It is predicted to expand from $5.09 billion in 2024 to $5.36 billion in 2025, growing at a compound annual growth rate (CAGR) of 5.3%. The historic growth can be credited to a shift towards halogenated chemicals, an increase in demand in electronics and construction sectors, applications in agriculture and veterinary, chemical production, and a heightened demand for flame retardants.
What Does Future Hold for The Bromine Derivatives Market By 2029?
The Bromine Derivatives market is expected to maintain its strong growth trajectory in upcoming years.
• It is projected that the market size for bromine derivatives will witness robust expansion in the forthcoming years, with a valuation expected to reach $7.13 billion by 2029, advancing at a compound annual growth rate (CAGR) of 7.4%.
The anticipated growth in the forecast period can be associated with a shift towards eco-friendly approaches, a preference for halogenated chemicals, utilization in agriculture and veterinary sectors, the burgeoning oil & gas industry, and increased demand in water treatment. Significant trends for the forecast period encompass escalating demand in flame retardants, application in water treatment, health and safety legislations, growth in oil & gas drilling activities, and expansion in the pharmaceutical and chemical manufacturing sectors.
What Are The Primary Growth Drivers In The Bromine Derivatives Market?
The growing global construction sector is anticipated to accelerate the expansion of the bromine derivatives market. The construction industry, an industrial sphere engaged in the manufacture and commerce of infrastructural development, repair, refurbishment and maintenance, uses bromine derivatives due to their compatibility with most non-metallic building materials such as fiberglass-reinforced plastic (vinyl ester or polyester FRP), polyvinyl, among other related elements. For example, the Office for National Statistics, a UK government department, reported in December 2022 that construction output volume rose by 0.8% in October 2022, reaching the highest amount of $16576.33 million (£15,248 million), the most significant figure in the past fourth consecutive months. Consequently, the global growth of the construction sector is fueling the bromine derivatives market.
What Is The Segmentation Of The Global Bromine Derivatives Market?
The bromine derivatives market covered in this report is segmented –
1) By Derivative: Sodium Bromide, Calcium Bromide, Zinc Bromide, TBBPA, DPDPE, Other Derivatives
2) By Application: Flame Retardants, Safety Apparel, Organic Intermediates, Oil And Gas Drilling, Biocides, PTA Synthesis, Other Applications
3) By End Use: Chemical, Construction, Oil And Gas, Pharmaceuticals, Electronics, Other End Users
Subsegments:
1) By Sodium Bromide: Industrial Applications, Pharmaceutical Uses
2) By Calcium Bromide: Oil And Gas Industry, Brine Fluids
3) By Zinc Bromide: Fire Retardants, Oil Well Drilling Fluids
4) By Tetrabromobisphenol A (TBBPA): Flame Retardant Applications, Electronics
5) By Dodecyl Diphenyl Ether (DPDPE): Surfactants, Lubricants
6) By Other Derivatives: Brominated Flame Retardants, Brominated Vegetable Oil (BVO), Others
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What Emerging Trends Are Shaping The Bromine Derivatives Market Landscape?
In the bromine derivatives market, one key trend is the innovation in products. Major entities in this market are striving to come up with inventive solutions, with their sights set on consolidating their market presence. For example, De Nora, a company from Italy that excels in electrochemistry, unveiled its MIOX Bromine Oxidant Solution System in September 2022. This bromine production system is designed to improve water treatment processes dealing with high levels of ammonia or pH, a significant factor in cooling tower applications. The system transforms the chlorine-based solution produced onsite into a bromine-infused solution, courtesy of MIOX BOSS which uses an activator solution containing bromide. It is commonly used in cooling towers where proprietors often adopt an alkaline treatment plan to mitigate the corrosion of the cooling tower. MIOX generators generate oxidizing solutions by leveraging three essential consumables: water, electricity, and salt.
Who Are the Key Players In The Bromine Derivatives Market?
Major companies operating in the bromine derivatives market include:
• Albemarle Corporation
• Israel Chemicals Limited
• Lanxess Corporation
• Honeywell International Inc.
• Tata Chemicals Ltd.
• Tetra Technologies Inc.
• Jordan Bromine Company Ltd.
• Beacon Organosys Pvt. Ltd.
• Morre-Tec Industries Inc.
• Gulf Resources Inc.
• Neogen Chemical Limited
• Perekop Bromine Factory
• Dhruv Chem Industries
• Haiwang Fine Chemical Co. Ltd.
• Sanofi S.A.
• ICL Industrial Products
• Solaris Chemtech Industries Limited
• Noah Technologies Corporation
• American Elements Corporation
• Chemada Fine Chemicals Co. Ltd.
• Evergrow International LLC
• Jiangyin Chengxing Industrial Group Co. Ltd.
• Tosoh Corporation
What Are The Regional Insights Into The Bromine Derivatives Market?
Asia-Pacific was the largest region in the bromine derivatives market in 2024 and is expected to be the fastest-growing region in the bromine derivatives market during the forecast period. The regions covered in the bromine derivatives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
