Bromine Market to Reach US$ 5.2 Billion 2024-2032, Driven by 4.25% CAGR: IMARC Group

Bromine Market to Reach US$ 5.2 Billion 2024-2032, Driven by 4.25% CAGR: IMARC Group

Bromine Market

The global bromine market size reached US$ 3.5 Billion in 2023.

BROOKLYN, NY, UNITED STATES, January 16, 2024 / — According to IMARC Group latest report titled “Bromine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on bromine market report. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global bromine market size reached US$ 3.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5.2 Billion by 2032, exhibiting a growth rate (CAGR) of 4.25% during 2024-2032.

Bromine is a chemical element with the symbol Br and atomic number 35. It is a halogen, belonging to the same group as fluorine, chlorine, iodine, and astatine on the periodic table. Bromine is primarily obtained through the extraction of brine solutions, which are rich in bromide salts. The manufacturing process involves treating the brine with chlorine, leading to the displacement of bromine. This method is widely employed in regions with abundant brine resources, such as the United States and Israel. The importance of bromine extends to the field of photography, where it is used in the preparation of light-sensitive chemicals.

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Market Trends:

The global market is primarily driven by the augmenting demand for bromine-based flame retardants. Additionally, the flourishing automotive industry has emerged as a major consumer of bromine, employing it in cleaning engine components and vehicle parts is impelling the market growth. Moreover, the growing construction and electronics sectors, in particular, prioritize fire safety, driving the demand for bromine-based solutions. Furthermore, growing awareness of the importance of clean water has led to increased adoption of bromine in water treatment processes. In line with this, a shift in consumer preferences can influence the bromine market by promoting the adoption of greener alternatives impelling the market growth. Apart from this, rising stringent environmental regulations and sustainability goals set by governments and organizations worldwide drive the adoption of bromine alternatives that have lower environmental impacts.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Albemarle Corporation
• Chemada Industries Ltd.
• Gulf Resources Inc.
• Hindustan Salts Limited
• Honeywell International Inc.
• ICL Group Ltd.
• Jordan Bromine Company Limited
• Lanxess AG
• Solaris Chemtech Industries Limited (Agrocel Industries Pvt. Ltd.)
• Tata Chemicals Limited
• TETRA Technologies Inc.
• Tosoh Corporation

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Bromine Market Segmentation:

Our report has categorized the market based on region, derivative, application and end user.

Breakup by Derivative:

• Hydrogen Bromide
• Organobromine Compounds
• Bromine Fluids
• Others

Breakup by Application:

• Biocides
• Flame Retardants (FR)
• Bromine-Based Batteries
• Clear Brine Fluids (CBF)
• Others

Breakup by End User:

• Chemicals
• Oil and Gas
• Pharmaceuticals
• Agriculture
• Textiles
• Electronics
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
+1 631-791-1145
email us here

Article originally published on as Bromine Market to Reach US$ 5.2 Billion 2024-2032, Driven by 4.25% CAGR: IMARC Group

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