Bromine Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Bromine Market Analysis
The bromine market is projected to register a CAGR of more than 4% during the forecast period. The market was negatively impacted by COVID-19 in 2020. However, the market has now been estimated to have reached pre-pandemic levels and is expected to grow steadily in the future.
- The increasing demand for bromine in water treatment applications is expected to fuel market growth during the forecast period.
- On the other hand, non-halogenated flame retardants are likely to slow the growth of the market.
During the forecast period, the Asia-Pacific region is expected to have the most market share. This is because India, China, and Japan are all growing and becoming more developed.
Bromine Market Trends
This section covers the major market trends shaping the Bromine Market according to our research experts:
Increasing Demand for Flame Retardants
- Bromine is a common ingredient in flame retardants because it works well to stop fires.
- Around 80 different types of brominated flame retardants (BFRs) with widely varying chemical properties are available on the market. Some of these are brominated bisphenols, diphenyl ethers, cyclododecanes, biphmanufacturing enyls, phenols, phenoxy ethanes, and phthalic acid derivatives.
- BFRs are commonly used to prevent fires in electronics and electrical equipment. 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, brominated flame retardants are used in commercial and industrial settings, like in furniture, textiles, construction, electrical, etc., to stop or slow down the spread of fire.
- Rising construction activities across the world are, in turn, boosting the demand for bromine compounds in the aforementioned applications. For example, China is one of the leading countries with respect to the construction of shopping centers. China has almost 4,000 shopping centers, while 7,000 more are estimated to be open by 2025.
- In India, according to the Ministry of Statistics and Program Implementation's Infrastructure and Project Monitoring Division, the government had 1,559 projects in the pipeline valued at INR 26.7 trillion (USD 314.22 billion) as of May 2022. Also, the Indian construction industry is expected to grow at a rate of 6.2% per year from 2023 to 2026, thanks to a strong pipeline of infrastructure projects in many sectors.
- All of these things are driving up the demand for brominated flame retardants over the next few years.
High Demand of Bromine from China
- China is one of the leading producers of bromine among Israel, Jordan, and the United States. Flame retardants are the largest application of bromine in China. The expected bromine production in China amounted to 75,000 tons in 2021, according to the latest report published by the US Geological Survey (USGS) in January 2022.
- Brominated flame retardants are used in the construction sector, the electrical industry, etc. to hinder or suppress combustion.
- China's construction sector generated around 6.9% of the country's GDP in 2022. Further, according to the Ministry of Housing and Urban-Rural Development in China, the construction industry intends to maintain a 6% share of the country's GDP by 2025 under the 14th Five-Year Plan period (2021-2025).
- Moreover, China has the world's largest electronics production base. Electronic products, such as wires, cables, computing devices, and other personal electronic devices, recorded the highest growth in the electronics segment. The country serves the domestic demand for electronics and exports electronic output to other countries, thus providing a huge market for bromine.
- China is one of the major markets for zinc-bromine flow batteries due to the region's growing electric vehicle market. The China Association of Automobile Manufacturing says that the number of new energy vehicles made in the country rose by 96.9% from December 2021 to December 2022.
Because of this, the above factors are likely to increase China's demand for bromine over the next few years.
Bromine Industry Overview
The bromine market is consolidated by nature. Some of the major players in the market include ICL, Lanxess, Albemarle Corporation, Gulf Resources, Inc., and Jordan Bromine Company, among others (in no particular order).
Bromine Market Leaders
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ICL
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Albemarle Corporation
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LANXESS
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Gulf Resources, Inc.
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Jordan Bromine Company
*Disclaimer: Major Players sorted in no particular order
Bromine Market News
- January 2022: ICL introduced the new BromoQuel, a patented solution that redefines bromine leakage incident treatment to expand its bromine business with safety.
- August 2022: Albemarle Corporation announced the restructuring of its bromine and lithium global business units (GBU) into a new organizational structure. The realignment aims to meet growing customer demand and execute in a competitive global environment.
Bromine Market Report - Table of Contents
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 The Increasing Demand of Bromine in Water Treatment Applications
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Emergence of Non-halogenated Flame Retardants
4.2.2 Other Restraints
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 (Market Size in Volume)
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
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 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
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 and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
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 Honeywell International Inc.
6.4.4 ICL
6.4.5 Jordan Bromine Company
6.4.6 Lanxess
6.4.7 Tata Chemicals Ltd.
6.4.8 TETRA Technologies Inc.
6.4.9 Tosoh Corporation
6.4.10 Sujay Chemicals
6.4.11 Shandong Haiwang Chemical Co.
6.4.12 Neogen Chemicals Ltd.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Bromine Industry Segmentation
Bromine is a halogen chemical element and a red-brown liquid at room temperature. It has a pungent smell and causes irritation to the eyes and skin. The market is segmented on the basis of derivatives, applications, and geography. By derivative, the market is segmented into organobromines, bromide salts, and hydrogen bromide. By application, the market is segmented into biocides, flame retardants (FR), bromine-based batteries, clear brine fluids (CBF), and other applications. The report also covers the market size and forecasts for the market in 15 countries across the globe. For each segment, market sizing and forecasts have been done on the basis of volume (kilotons).
| Derivative | |
| Organo Bromines | |
| Bromide Salts | |
| Hydrogen Bromide |
| Application | |
| Biocides | |
| Flame Retardants (FR) | |
| Bromine-based Batteries | |
| Clear Brine Fluids (CBF) | |
| Other Applications |
| Geography | |||||||
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Bromine Market Research FAQs
What is the current Bromine Market size?
The Bromine Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Bromine Market?
ICL, Albemarle Corporation, LANXESS , Gulf Resources, Inc. and Jordan Bromine Company are the major companies operating in the Bromine Market.
Which is the fastest growing region in Bromine Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Bromine Market?
In 2024, the Asia-Pacific accounts for the largest market share in Bromine Market.
What years does this Bromine Market cover?
The report covers the Bromine Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Bromine Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Bromine Industry Report
Statistics for the 2024 Bromine market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Bromine analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
