Bromine Derivatives Market, By Application (Flame Retardant, Organic Intermediates, Oil & Gas Drilling, Bodices, PTA synthesis, Others), By Derivatives (Sodium Bromide, Calcium Bromide, Zinc Bromide, TBBPA, DBDPE, Others), By End-use Industry (Chemical, Construction, Oil & Gas, Pharmaceutical, Electronics Others), by Region (North America, Europe, Asia-pacific, Latin America, Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030
Bromine is chemical compound with similar properties that of iodine and chlorine. Bromine derivatives find its applications in chemical synthesis, completion fluids and oil & gas well drilling, beef and poultry processing, paper manufacturing, water purification, and others industrial applications. Growing demand for bromine derivatives in controlling mercury emission coupled with surging end-use industry such as pharmaceutical, agriculture, construction, and chemical industry is to propel the demand for bromine derivatives market over the forthcoming years.
Market Dynamics
Based on application, bromine derivatives market is segmented into flame retardant, organic intermediates, oil & gas drilling, bodices, PTA synthesis, and others. Wherein, flame retardant segment dominated global bromine derivatives market in 2022 and contributed for 47.3% in terms of revenue in the same year, followed by oil & gas drilling application. Moreover, oil & gas drilling application is predicted to record fastest growth of 4.6% during the forecast period (2023 to 2030).
Among region, Asia Pacific accounted for the largest share, in terms of revenue in 2022 and contributed for 51.2% in 2022, followed by North America. The regional growth is driven by the rising demand for bromine derivatives from various end-use industries. The growth of end-use industries is anticipated to act as major driver for increasing the demand for bromine derivatives in the Asia Pacific.
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