Dublin, Jan. 22, 2025 (GLOBE NEWSWIRE) -- The "Bromine Market Report 2025" has been added to ResearchAndMarkets.com's offering.
The bromine market size is expected to see rapid growth in the next few years. It will grow to $8.45 billion in 2029 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to environmental regulations favoring the use of bromine in flame retardants, expansion of the energy storage and electric vehicle markets, rising use of bromine compounds in energy-efficient cooling systems, enhanced demand for bromine in water treatment due to increased urbanization, and adoption of bromine in energy storage solutions like flow batteries.
Major trends in the forecast period include shift toward eco-friendly flame retardants, bromine recycling, urbanization and water treatment, bromine in energy-efficient electronics, and energy storage solutions.
The rising demand for bromine in oil and gas drilling is significantly driving the growth of the bromine market. Oil and gas are extracted from porous rocks by drilling into the area. Bromine, used in the form of clear brines, helps balance the pressure necessary to prevent the closure of the drilled pores in porous rocks. The growing activity in oil and gas drilling necessitates a substantial amount of bromine. For example, the Energy Information Administration, a US-based government agency, reported that crude oil production rose to 12.1 million barrels per day (b/d) by December 2022, reflecting an increase of about 3.4% year-over-year. Thus, the rising demand for bromine in oil and gas drilling is expected to further boost the growth of the bromine market in the future.
A significant driver of growth in the bromine market is the rising demand within the textile industry. Brominated flame retardants (BFRs), which are bromine-based compounds, play a pivotal role in enhancing fire resistance in textiles. These compounds are incorporated into fabrics, such as curtains, upholstery, and protective clothing, reducing the risk of ignition and slowing down the spread of flames. The textile industry's continuous need for fire-safe materials is reflected in the increasing demand for bromine. As of May 2023, the US textile and apparel exports reached $34 billion in 2022, marking a substantial increase from the previous year's $28.4 billion. This demand for bromine in the textile sector is poised to drive the overall growth of the bromine market.
A notable trend in the bromine market is the prevalence of strategic partnerships and collaborations among key industry players. Companies operating in the bromine sector are actively engaging in partnerships to expand their operational footprint and establish leadership in the industry. An illustrative example is the acquisition of Albemarle Corporation by W. R. Grace and Company in February 2021 for $570 million. This strategic move significantly bolstered W. R. Grace and Company's presence in the pharmaceutical services industry. Albemarle Corporation, a chemical manufacturing company specializing in bromine, refining catalysts, lithium, and applied surface treatments, became an integral part of W. R. Grace and Company's growth strategy through this collaboration.
Key players in the bromine market are actively making strategic investments in the expansion of bromine facilities to drive revenue growth. This strategic approach not only provides financial benefits but also contributes to long-term growth, diversification, and addressing environmental concerns in the supply chain. An example of such investment is Albemarle, a prominent US-based chemical company specializing in bromine. In November 2022, Albemarle announced a substantial investment of up to $540 million for the expansion and modernization of two bromine facilities located in Magnolia, Arkansas. This significant investment is poised to enhance the company's capacity and capabilities in bromine production.
In September 2024, Ultralife Corporation, a US-based manufacturer of batteries, acquired Electrochem Solutions, Inc. for an undisclosed sum. This acquisition is intended to help Ultralife Corporation broaden its product range and strengthen its capabilities within the energy solutions market. Electrochem Solutions, Inc. is a US-based company that focuses on advanced battery technology and energy solutions.
Major companies operating in the bromine market include ICL Group, Albemarle, Lanxess, Tosoh, TATA Chemicals, Gulf Resources, Solaris Chemtech Industries, Honeywell International, Perekop Bromine, Hindustan Salts Ltd., Chemada Industries Ltd., Jordan Bromine Company Ltd., Shandong Weifang Longwei Industrial Co. Ltd., Agrocel Industries, Israel Chemicals Ltd., TETRA Technologies, Sujay Synthorg Chemicals, Shandong Haiwang Chemical Co., Neogen Chemicals Ltd., Shandong Ocean Chemical Co. Ltd., Krishna Solvachem, Merck, Mody Chemi Pharma Ltd., Pacific Organics, Thermo Fisher Scientific and, Tokyo Chemical Industry Co.
This report focuses on bromine market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Markets Covered:
- 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; Other End Users
Subsegments:
- By Organobromine: Flame Retardants; Biocides; Others
- By Clear Brine Fluids: Calcium Bromide; Sodium Bromide; Zinc Bromide
- By Hydrogen Bromide: Industrial Grade; Chemical Grade; Others
Key Companies Mentioned: ICL Group, Albemarle, Lanxess, Tosoh Corporation and TATA Chemicals Ltd.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2025 - 2029 |
| Estimated Market Value (USD) in 2025 | $5.74 Billion |
| Forecasted Market Value (USD) by 2029 | $8.45 Billion |
| Compound Annual Growth Rate | 10.2% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Bromine Market Characteristics
3. Bromine Market Trends and Strategies
4. Bromine Market - Macro Economic Scenario Including the Impact of Interest Rates, Inflation, Geopolitics and Covid and Recovery on the Market
5. Global Bromine Growth Analysis and Strategic Analysis Framework
5.1. Global Bromine PESTEL Analysis (Political, Social, Technological, Environmental and Legal Factors, Drivers and Restraints)
5.2. Analysis of End Use Industries
5.3. Global Bromine Market Growth Rate Analysis
5.4. Global Bromine Historic Market Size and Growth, 2019-2024, Value ($ Billion)
5.5. Global Bromine Forecast Market Size and Growth, 2024-2029, 2034F, Value ($ Billion)
5.6. Global Bromine Total Addressable Market (TAM)
6. Bromine Market Segmentation
6.1. Global Bromine Market, Segmentation by Derivative, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
- Organobromine
- Clear Brine Fluids
- Hydrogen Bromide
6.2. Global Bromine Market, Segmentation by Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
- Biocides
- Flame Retardants (FR)
- Bromine-Based Batteries
- Clear Brine Fluids (CBF)
- Other Applications
6.3. Global Bromine Market, Segmentation by End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
- Oil and Gas
- Automotive
- Agriculture
- Pharmaceuticals
- Cosmetics
- Textiles
- Other End Users
6.4. Global Bromine Market, Sub-Segmentation of Organobromine, by Derivative, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
- Flame Retardants
- Biocides
- Others
6.5. Global Bromine Market, Sub-Segmentation of Clear Brine Fluids, by Derivative, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
- Calcium Bromide
- Sodium Bromide
- Zinc Bromide
6.6. Global Bromine Market, Sub-Segmentation of Hydrogen Bromide, by Derivative, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
- Industrial Grade
- Chemical Grade
- Others
7. Bromine Market Regional and Country Analysis
7.1. Global Bromine Market, Split by Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
7.2. Global Bromine Market, Split by Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
8-29. Country Specific Bromine Market Analysis
30. Bromine Market Competitive Landscape and Company Profiles
30.1. Bromine Market Competitive Landscape
30.2. Bromine Market Company Profiles
30.2.1. ICL Group
30.2.2. Albemarle Corporation
30.2.3. Lanxess
30.2.4. Tosoh
30.2.5. TATA Chemicals
31. Bromine Market Other Major and Innovative Companies
31.1. Gulf Resources Inc.
31.2. Solaris Chemtech Industries Limited
31.3. Honeywell International Inc.
31.4. Perekop Bromine
31.5. Hindustan Salts Ltd.
31.6. Chemada Industries Ltd.
31.7. Jordan Bromine Company Ltd.
31.8. Shandong Weifang Longwei Industrial Co. Ltd.
31.9. Agrocel Industries Pvt. Ltd.
31.10. Israel Chemicals Ltd.
31.11. TETRA Technologies Inc.
31.12. Sujay Synthorg Chemicals Pvt. Ltd.
31.13. Shandong Haiwang Chemical Co.
31.14. Neogen Chemicals Ltd.
31.15. Shandong Ocean Chemical Co. Ltd.
32. Global Bromine Market Competitive Benchmarking and Dashboard
33. Key Mergers and Acquisitions in the Bromine Market
34. Recent Developments in the Bromine Market
35. Bromine Market High Potential Countries, Segments and Strategies
35.1 Bromine Market in 2029 - Countries Offering Most New Opportunities
35.2 Bromine Market in 2029 - Segments Offering Most New Opportunities
35.3 Bromine Market in 2029 - Growth Strategies
For more information about this report visit https://www.researchandmarkets.com/r/bc5v9g
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