Global Bromine Market Analysis: Plant Capacity, Location, Production, Operating Efficiency, Demand & Supply, End Use, Sales Channel, Regional Demand, Company Share, Foreign Trade, Industry Market Size, Manufacturing Process, 2015-2035

Global Bromine Market Analysis: Plant Capacity, Location, Production, Operating Efficiency, Demand & Supply, End Use, Sales Channel, Regional Demand, Company Share, Foreign Trade, Industry Market Size, Manufacturing Process, 2015-2035

H1 2023: The leading Bromine producing companies in H1 2023 were ICL Industrial Products Limited, Albemarle Corp, and Jordon Bromine Co. In May 2023, Anson Resources Limited announced a letter of intent (LOI) to buy 0.568 square kilometres of property for industrial use. At the Green River Project, the company estimated an exploration target of 2.0 - 2.6 billion tonnes of brine with a grade of 100 to 150 ppm lithium and 2,000 to 3,000 ppm bromine. Anson obtained exclusive rights to the property for the purpose of closing the sale before April 2024 upon execution of the LOI and will give the current owners USD 2.4 million to complete the purchase terms after due diligence is finished and a formal contract is signed. In H1 2023, Asia Pacific region experienced a bearish Bromine market scenario. Due to decline in downstream demand from the flame retardant and intermediate industries, Bromine market prices continued to decline throughout the first half of 2023 in China and India. Additionally, the Bromine production rates decreased despite the product being available in adequate quantities to meet the moderate downstream demand in the Asian nations. The price decreased fell drastically after April 2023 as a result of the expanding supply-demand disparity.

The global Bromine market has reached approximately 470 thousand tonnes in 2022 and is expected to grow at a CAGR of 3.82% during the forecast period until 2035. Albemarle Corporation, a pioneer in the global specialty chemicals sector, announced in August 2022 that their Bromine and Lithium global business units will be reconfigured into a new business structure.

Bromine belongs to the halogen family. The chemical element bromine has the symbol Br. This element occurs naturally in sea water along with chlorine. On an industrial level, it is extracted from brine solution. Due its unique properties, bromine displays flame retardant properties and commonly used for the manufacture of flame retardants. Bromine is utilized in the production of a wide range of goods such as antimicrobials, water disinfectants, agrochemicals, chemical entities for synthetic drugs, pigments, and photography substances. It is extensively employed as a reactive and catalyst in chemical industries.

The primary driver of Bromine global market is the Flame Retardants Industry. In 2022, approximately 45% of global Bromine was utilized by the Flame Retardants Industry. Not just for manufacturing flame retardant sprays, Bromine compounds are also used as an additive in furniture foam and outer body of electronic gadgets to make them fire-resistant up to a certain extent. Furthermore, utilization of Bromine as a drilling fluid and for manufacturing of biocides are also the contributing factors for the growth of global Bromine market. The global market value of Bromine is estimated to reach approximately 760 thousand tonnes by 2035.

Based on region, Asia Pacific is leading as a consumer of the Bromine market. In 2022, this region accounted for a consumption of about 25% of the global Bromine market in 2022. Furthermore, North America and Europe are also prominent consumers of Bromine. Middle East is dominating the Bromine market as a producer. Israel situated in this region are causing the majority of Bromine production. It is anticipated that Israel will be the leading producer of Bromine in the forecast years as well on an international scsale.

Based on the end-user industry, the global Bromine market is segmented into certain industrial sectors including Flame Retardants, Drilling Fluid, Water Treatment, Hydrogen Bromide, and Others. Although, Flame Retardants is the largest consumer of global Bromine market. Bromine has unique properties than other halogens and is an ingredient in Flame Retardants. Bromine-based Flame Retardants work well in plastic and textile sectors as wells as employed in electronics, apparel, and furniture. The increasing demand of Flame Retardants is anticipated to swell up the demand of Bromine in the forecast period by 2035. Bromine is also employed in the energy sector as well in the form of Drilling Fluid. The rising demand of Drilling Fluid and Hydrogen Bromide is anticipated to create a demand of Bromine in the forecast period.

Major players in the production of Global Bromine are ICL Industrial Products Limited, Albemarle Corp, Jordon Bromine Co., Agrocel Industries Private Limited, Chemtura Corp, Gulf Resources Inc, Tosoh Corporation, and Satyesh Brinechem Private Limited.

Years for this report:

Historical Period: 2015- 2022

Base Year: 2022

Estimated Year: 2023

Forecast Period: 2024-2035

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Objective of the Study:

• To assess the demand-supply scenario of Bromine which covers production, demand and supply of Bromine market in the globe.
• To analyse and forecast the market size of Bromine
• To classify and forecast Global Bromine market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Bromine market in the globe.

To extract data for Global Bromine market, primary research surveys were conducted with Bromine manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Bromine market over the coming years.

ChemAnalyst calculated Bromine demand in the globe by analyzing the historical data and demand forecast which was carried out considering the raw materials to extract Bromine. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.

Key Target Audience:

• Bromine manufacturers and other stakeholders
• Organizations, forums and alliances related to Bromine s distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Bromine s manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

Report Scope:

In this report, Global Bromine s market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Attribute

Details

Market size Volume in 2022

470 thousand tonnes

Market size Volume by 2035

760 thousand tonnes

Growth Rate

CAGR of 3.82% from 2023 to 2035

Base year for estimation

2023

Historical Data

2015 – 2022

Forecast period

2024 – 2035

Quantitative units

Demand in thousand tonnes and CAGR from 2023 to 2035

Report coverage

Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process, Policy and Regulatory Landscape.

Segments covered

By End-Use: (Flame Retardants, Drilling Fluid, Water Treatment, Hydrogen Bromide, and Others)

By Sales Channel: (Direct Sale and Indirect Sale)

Regional scope

North America, Europe, Asia Pacific, Middle East and Africa, and South America.

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