Global Bromine Market Report 2022 – Market Forecast, Trends And Strategies

The global bromine market size is expected to grow from $3.88 billion in 2021 to $4.32 billion in 2022 at a compound annual growth rate (CAGR) of 11.3%. The global bromine market size is expected to reach $5.86 billion in 2026 at a CAGR of 7.9%.

What is the Global Bromine Market?

The bromine market consists of sales of bromine by entities (organizations, sole traders, and partnerships) that are used as a water disinfectant or purifier. Bromine is a chemical element with deep red color toxic liquid with an irritating and offensive odor. Bromine is used in making dyes, fumigants, flameproofing agents, sanitizers, water purification compounds, agents for photography, vegetable oil, and an emulsifier in citrus-flavored soft drinks. It is also used as a disinfectant for surfaces due to its damaging effects on microorganisms.

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What drives the Global Bromine Market?

Increasing demand for bromine in oil and gas drilling is significantly contributing to the growth of the bromine market. The oil and gas are extracted from porous stones by drilling a hole into the area. Bromine used in the form of clear brines can compensate for the gravity required to balance the pressure needed to avoid closing the pores that are drilled in porous stone. The increasing oil and gas drilling activity require a high amount of bromine. For instance, according to Rystad Energy, a US-based energy research and business intelligence company, global oil and gas drilling activity increased by 12% from 2020 to 2021, with around 54,000 wells drilled. Therefore, the increasing demand for bromine in oil and gas drilling is expected to propel the growth of the bromine market going forward.

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Global Bromine Market Segments
The global bromine market is segmented:
By Derivative: Organobromine, Clear Brine Fluids, Hydrogen Bromide
By Application: Biocides, Flame Retardants (FR), Bromine-Based Batteries, Clear Brine Fluids (CBF), Other Applications
By End User: Oil And Gas, Automotive, Agriculture, Pharmaceuticals, Cosmetics, Textiles, and Other End Users
By Geography: The regions covered in the bromine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Bromine Global Market Report 2022provides market size and growth forecasts for the global bromine market, global bromine market share, bromine global market segments and geographies, bromine global market competitive landscape including leading competitors’ revenues, profiles and market shares. The bromine market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Bromine Industry Playersinclude ICL Group Limited , Albemarle Corporation, LANXESS AG, Tosoh Corporation, TATA Chemicals Ltd., Gulf Resources Inc., Solaris Chemtech, Honeywell International Inc., Perekop bromine, Hindustan Salts Ltd., Chemtura Corporation, Chemada Industries Ltd., JORDAN BROMINE COMPANY, Shandong Weifang Longwei Industrial Co. Ltd., and Agrocel Industries Pvt. Ltd. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.