PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1491987
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1491987
The global bromine market will rise from USD 2.6 billion in 2024 to USD 3.3 billion by 2029, at a CAGR of 4.6% from 2024 to 2029. One significant driver of bromine market growth is the increasing emphasis on fire safety regulations and standards globally. Bromine-based flame retardants reduce the flammability of materials used in electronics, textiles, automotive, and construction industries.
Scope of the Report | |
---|---|
Years Considered for the Study | 2019-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Million/USD Billion) and Volume (Kiloton) |
Segments | Derivative, Application, and Region |
Regions covered | North America, Western Europe, Eastern & Central Europe, Asia Pacific, South America, and Middle East & Africa, |
"The organobromine segment is projected to hold maximum share during the forecast period."
The organobromine segment is anticipated to hold the maximum share. It is witnessing geographical expansion, with increasing demand from emerging economies in regions such as Asia Pacific, Latin America, and the Middle East. Rapid industrialization, urbanization, and infrastructure development in these regions drive the demand for organobromine compounds across various industries.
"The flame retardant segment is projected to hold maximum market share during the forecast period."
The flame retardant segment is expected to hold the maximum share during the forecast period. There is a growing demand for high-performance flame retardant materials that meet stringent fire safety standards and offer other desirable properties such as thermal stability, durability, and environmental sustainability. Bromine-based flame retardants are known for their effectiveness in imparting flame resistance while maintaining material integrity, making them preferred choices in various applications.
"Asia Pacific is projected to hold the maximum market share of the bromine market during the forecast period."
The Asia Pacific bromine industry has been studied in China, Japan, India, South Korea, Taiwan, and the Rest of the region. Environmental regulations and sustainability concerns are increasingly shaping the bromine market dynamics in the area. Regulatory bodies impose stricter norms regarding using brominated flame retardants due to their potential environmental and health impacts. This has led to a shift towards alternative flame retardants and an increased focus on recycling bromine-containing products to reduce environmental pollution.
Breakdown of primary interviews for the report on the bromine market
Some of the leading manufacturers of bromine profiled in this report include ICL Group Ltd. (Israel), Albemarle Corporation (US), LANXESS AG (Germany), Tosoh Corporation (Japan), TETRA Technologies, Inc. (US), TATA Chemicals Ltd. (India), Hindustan Salts Ltd. (India), Honeywell International Inc. (US), Gulf Resources, Inc. (China), Agrocel Industries Pvt Ltd. (India), Satyesh Brinechem Pvt. Ltd. (India) and others.
Research Coverage
The report defines, segments, and projects the bromine market size-based derivative, application, and region. It strategically profiles the key players and comprehensively analyzes their market share and core competencies. It also tracks and analyzes competitive developments, such as new product development, agreements, acquisitions, and expansions they undertake in the market.
The report is expected to help the market leaders/new entrants by providing them with the closest approximations of revenue numbers of the bromine market and its segments. This report is also expected to help stakeholders understand the market's competitive landscape, gain insights to improve the position of their businesses and develop suitable go-to-market strategies. It also enables stakeholders to understand the market's pulse and provides information on key market drivers, restraints, challenges, and opportunities.