The remaining primed for substantial growth, the Bromine Market size has been on an upward trajectory in recent years. It will grow from $5.23 billion in 2024 to $5.74 billion in 2025, showcasing a compound annual growth rate (CAGR) of 9.7%. This impressive growth can be attributed to the increasing demand for flame retardants used in construction materials and electronics, expansion in the oil and gas industry, growth in the pharmaceutical industry for medicine production, regulatory favoring the use of bromine in water treatment, and surging demand for clear brine fluids in oil and gas production.
Moreover, the Bromine Market size is anticipated to witness rapid growth in the upcoming years. It is projected to reach $8.45 billion in 2029, growing at a CAGR of 10.2%. This growth can be linked to environmental regulations favoring the use of bromine in flame retardants, the expansion of the energy storage and electric vehicle markets, increased use of bromine compounds in energy-efficient cooling systems, high-grade demand for bromine in water treatment due to urbanization, and adoption of bromine in energy storage solutions such as flow batteries.
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How Is the Demand for Bromine Impacting the Market’s Growth?
The growth of the Bromine Market is significantly contributed by the increased demand for bromine in oil and gas drilling. The process of extracting oil and gas from porous stones often entails drilling a hole into the site. Bromine, used in the form of clear brines, compensates for the gravity needed to balance the pressure necessary for maintaining the drilled pores in the porous stone. The increasing activity of oil and gas drilling demands a high volume of bromine. For instance, according to the Energy Information Administration, a US-based government agency, crude oil production surged to 12.1 million barrels per day (b/d) by December 2022, marking an increase of approximately 3.4% year-over-year. This rising demand for bromine in oil and gas drilling is expected to fuel the bromine market’s growth.
Here are the Major Segments of the Global Bromine Market:
1) By Derivative: Organobromine, Clear Brine Fluids, Hydrogen Bromide
2) By Application: Biocides, Flame Retardants (FR), Bromine-Based Batteries, Clear Brine Fluids (CBF), Other Applications
3) By End User: Oil And Gas, Automotive, Agriculture, Pharmaceuticals, Cosmetics, Textiles, Other End Users
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Who Are the Major Players in the Bromine Market?
Major market players operating in the Bromine Market include 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., 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.
What Recent Trends have been Observed in the Bromine Market?
Major companies in the Global Bromine Market are increasingly focusing on technological advancements such as high-purity production processes. These initiatives are aimed at enhancing product quality, improving efficiency, and satisfying the growing demand for bromine-based compounds across flame retardants, water treatment, and pharmaceutical applications. High-purity signifies a substance that has very low levels of impurities, often exceeding 99% purity. For instance, in June 2023, ICL GROUP LTD, an Israel-based specialty minerals company, launched Water-Soluble Micronutrient and N-P-K Fertilizers. These products deliver high-purity water-soluble N-P-Ks (Nitrogen, Phosphorus, Potassium) and essential micronutrients designed to meet specific crop nutrient demands.
Which Regions Hold Significant Shares in the Bromine Market?
Asia-Pacific was the largest and fastest-growing region in the bromine market in 2024. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Bromine Market Report 2025 Offer?
Bromine, a deep red toxic liquid with an irritating and offensive smell, is widely used in the production of dyes, fumigants, flame proofing agents, sanitizers, water purification compounds, agents for photography, vegetable oil, and as an emulsifier in citrus-flavored soft drinks. It’s also employed as a surface disinfectant given its damaging effects on microorganisms. The Bromine Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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