The Business Research Company’s report on the Bromine Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the bromine market in recent years?
The increase in demand for bromine in oil and gas drilling is significantly contributing to the growth of the bromine market. The oil and gas are extracted from porous stones by drilling a hole into the area. Bromine used in the form of clear brines can compensate for the gravity required to balance the pressure needed to avoid closing the pores that are drilled in porous stone. The increasing oil and gas drilling activity requires a high amount of bromine. For instance, according to the Energy Information Administration, a US-based government agency, crude oil production increased to 12.1 million barrels per day (b/d) by December 2022, marking an increase of approximately 3.4% year-over-year. Therefore, the increase in demand for bromine in oil and gas drilling is expected to propel the growth of the bromine market going forward.
Access Your Free Sample of the Global Bromine Market Report – Get Insights Now!
https://www.thebusinessresearchcompany.com/sample.aspx?id=5910&type=smp
What is the projected market size of the bromine industry, and how is it expected to grow?
The bromine market size has grown strongly in recent years. It will grow from $5.23 billion in 2024 to $5.74 billion in 2025 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to increasing demand for flame retardants in construction materials and electronics, expansion of the oil and gas industry, growth in the pharmaceutical industry for the production of medicines, regulation favoring the use of bromine in water treatment applications, and rise in demand for clear brine fluids in oil and gas production.
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 favoringThe use of bromine in flame retardants, expansion ofThe 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.
Gain Exclusive Market Insights—Customize Your Research Report Today For Fast Delivery!
https://www.thebusinessresearchcompany.com/customise?id=5910&type=smp
Who are the key players driving competition in the bromine market?
Major companies 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 key trends are expected to drive the broadcast and media technology market during the forecast period?
Major companies operating in the Global Bromine Market are focusing on technological advancements such as high-purity production processes to enhance product quality, improve efficiency, and meet the increasing demand for bromine-based compounds in various applications, including flame retardants, water treatment, and pharmaceuticals. High-purity refers to a substance that has a very low level of impurities, often exceeding 99% purity.For instance in June 2023, ICL GROUP LTD is a isreal-based specialty minerals company launched Water-Soluble Micronutrient and N-P-K Fertilizers. The products deliver high-purity water-soluble N-P-Ks (Nitrogen, Phosphorus, Potassium) and essential micronutrients tailored to meet specific crop nutrient demands.
Which key geographies are driving the growth of the bromine market?
Asia-Pacific was the largest region in the bromine market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bromine market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Order Your Report Now For Swift Delivery
https://www.thebusinessresearchcompany.com/report/bromine-global-market-report
What are the key segments driving growth in the bromine market?
The bromine market covered in this report is segmented –
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
Subsegments:
1) By Organobromine: Flame Retardants, Biocides, Others
2) By Clear Brine Fluids: Calcium Bromide, Sodium Bromide, Zinc Bromide
3) By Hydrogen Bromide: Industrial Grade, Chemical Grade, Others
Purchase The Exclusive Report Now To Unlock Valuable Market Insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=5910
How is the bromine market defined?
Bromine is a chemical element with a deep red colour and is a toxic liquid with an irritating and offensive odor. Bromine is used in making dyes, fumigants, flame proofing agents, sanitizers, water purification compounds, agents for photography, vegetable oil, and as an emulsifier in citrus-flavored soft drinks. It is also used as a disinfectant for surfaces due to its damaging effects on microorganisms.
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
https://thebusinessresearchcompany.com/
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
