According to the latest market research study by Technavio, the global bromine market is expected to grow at a CAGR of close to 6% during the forecast period 2017 to 2021.
This report by Technavio provides an insight into the global bromine market regarding revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the application
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The top three revenue contributing application segments are discussed below:
Global bromine market for flame retardants: Brominated flame retardants (BFR) are found in many forms and are used in a variety of applications due to their efficacy. The common application areas of BFRs include paper, textiles, plastic, carpet, furniture, wood, appliances and electrical equipment.
“The most commonly used BFR is TBBPA (tetrabromobisphenol A) which is primarily used in printed circuit boards and thermoplastics. TBBPA is halogen-free flame retardant which is cost-effective and has a good performance level, due to which it is widely used across all regions. Hexabromocyclododecane (HBCD) is also used in polystyrene foams in few countries, mostly in APAC. In spite of toxicity issues, bromine-based flame retardants are increasingly used in in the electrical and electronics industry,” says Ajay Adikari, a lead analyst at Technavio for research on specialty chemicals.
Global bromine market for oil and gas drilling: Clear brines are extensively used for producing crude oil in deep, high-pressure wells where normal drilling process forms lumps of mud. It helps to lubricate the drill, preserve drilling equipment, and enhance their capacity for drilling deeper. They also circulate and transport solids and enhance the productivity of oil and gas wells. Growth in oil drilling activities across North America and APAC, especially in China, is expected to drive this market during the forecast period.
Global bromine market for water treatment and mercury emission control: Bromine-based products advance the rate of recycling and improve the quality of industrial waste water discharged. Bromine separates in water and forms a hypobromous acid (HBrO), which is capable of killing pathogenic cells. They also help in killing tough waterborne viruses like poliovirus and rotaviruses. The process of water purification, conservation, and wastewater treatment are expected to drive this market during the forecast period. Since the last few years, bromine-based products are being significantly used for mercury emission control in power plants. Growing environmental concerns is expected to drive this market during the forecast period.
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The top vendors operating in the global bromine market are:
- Albemarle
- Chemtura
- Gulf Resources
- ISRAEL CHEMICALS (ICL)
- Tosoh
The other prominent vendors in the market include Hindustan Salts, Honeywell International, Jordan Bromine Company, MORRE-TEC Industries, and TETRA Technologies.
A more detailed analysis is available in the Technavio market research report titled, ‘Global Bromine Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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