Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Bromine Global Market Report 2024" has been added to ResearchAndMarkets.com's offering.
The global bromine market is witnessing a surge in growth, driven by its expanding applications across various industries. This comprehensive market research report delves into the latest trends, market size, and future outlook of the bromine industry The report covers the critical developments in the sector, including the impressive growth trajectory in the Asia-Pacific region and emerging trends influencing market dynamics.
The report sheds light on the robust increase in the bromine market, expected to grow from $4.78 billion in 2023 to $5.26 billion in 2024, with a significant compound annual growth rate (CAGR) of 10.0%.
This noteworthy expansion is attributed to factors such as escalating demand for bromine-based flame retardants and its widespread utilization in water treatment applications, coinciding with rising urbanization and the stringent environmental regulations that accompany it.
Diverse Applications Driving Demand
The versatility of bromine is evident in its myriad uses across a range of sectors from pharmaceuticals and water purification to the manufacturing of flame-proof materials. Organobromine, clear brine fluids, and hydrogen bromide are among the primary derivatives of bromine that are making a substantive impact on industries like oil and gas, automotive, and textiles, thus bolstering the market's growth.
Asia-Pacific Dominates the Market Landscape
In an in-depth regional analysis, the Asia-Pacific emerged as the frontrunner in the bromine market in 2023, with predictions to maintain the fastest growth rate during the forecast period. The report examines the driving forces behind this regional market's success, including rapid industrialization and the expansion of its end-user industries.
Strategic Partnerships and Investments Catalyzing Growth
Strategic corporate movements, such as the cited acquisition of Albemarle Corporation’s fine chemistry business by WR Grace and CO, underline the active pursuit of growth and consolidation within the industry.
Major market players are channeling investments into the expansion of bromine facilities, fortifying their market positions, and contributing to the overall sustainability and efficiency of the bromine supply chain.
Comprehensive Coverage of the Bromine Landscape
This report offers an exhaustive analysis of the bromine market, presenting valuable insights into current trends and future opportunities. Stakeholders and policy makers will find this research indispensable for informed decision-making, providing a holistic view of market segments, geographical analysis, and competitive landscapes.
Notable companies in the spotlight of this report include ICL Group Limited, Albemarle Corporation, Lanxess AG, Tosoh Corporation, and TATA Chemicals Ltd.
The bromine market's trajectory is shaped by the confluence of technological advancements, regulatory environments, and changing consumer preferences.
With in-depth data and analysis, the report serves as an authoritative source for understanding the global narrative of the bromine industry and its forecasted developments through to 2028.
Report Scope:
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
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Companies Profiled:
- ICL Group Limited
- Albemarle Corporation
- Lanxess AG
- Tosoh Corporation
- TATA Chemicals Ltd.
- Gulf Resources Inc.
- Solaris Chemtech Industries Limited
- Honeywell International Inc.
- Perekop Bromine
- Hindustan Salts Ltd.
- Chemtura Corporation
- Chemada Industries Ltd.
- Jordan Bromine Company Ltd.
- Shandong Weifang Longwei Industrial Co. Ltd.
- Agrocel Industries Pvt. Ltd.
- Israel Chemicals Ltd.
- TETRA Technologies Inc.
- Sujay Synthorg Chemicals Pvt. Ltd.
- Shandong Haiwang Chemical Co.
- Neogen Chemicals Ltd.
- Shandong Ocean Chemical Co. Ltd.
- Krishna Solvachem Ltd.
- Merck KGaA
- Mody Chemi Pharma Ltd.
- Pacific Organics Pvt. Ltd.
- Thermo Fisher Scientific Inc.
- Tokyo Chemical Industry Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/qdphpp
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