Global Bromine Derivatives Market Report and Forecast 2023-2028

Global Bromine Derivatives Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global bromine derivatives market reached a value of USD 4.56 billion in 2022. Aided by the increasing demand for flame-retardant materials and the growing applications of bromine derivatives in diverse industries, the market is projected to further grow at a CAGR of 5.04% between 2023 and 2028 to reach a value of USD 6.15 billion by 2028.

Bromine derivatives, such as hydrobromic acid, bromine resins, and organobromines, are widely used in various applications, including flame retardants, biocides, drilling fluids, and pharmaceutical intermediates. They play a crucial role in enhancing the safety, durability, and functionality of several materials and products. Apart from their primary properties, bromine derivatives also exhibit excellent reactive characteristics, making them a valuable ingredient in various industrial applications, including electronics, automotive, and construction.

The increasing demand for flame-retardant materials is driving the global bromine derivatives market growth. With the growing awareness of the safety benefits associated with flame-retardant materials, there has been a significant shift towards these products, leading to a surge in demand for bromine derivative-based materials. Additionally, the rising trend of urbanisation and infrastructure development has further contributed to the increasing popularity of bromine derivatives, as they are key ingredients in construction materials, including insulation foams and roofing materials.

The expanding applications of bromine derivatives in various industries also play a significant role in accelerating the bromine derivatives market development. In the pharmaceutical industry, bromine derivatives are used as intermediates in the production of various drugs. The water treatment sector utilises bromine derivatives as biocides due to their effectiveness against a wide range of microorganisms. Moreover, bromine derivatives' reactive properties make them an essential component in the manufacturing of printed circuit boards used in the electronics industry.

Furthermore, the growing demand for brominated polymers in the automotive industry has led to an increased focus on bromine derivatives. With the rise of electric vehicles and the increasing emphasis on lightweight and durable materials, bromine derivatives have emerged as critical components in the formulation of various automotive components, thereby fuelling the bromine derivatives market expansion.

Moreover, ongoing research and development activities aimed at expanding the scope of bromine derivatives in novel applications, such as energy storage and advanced pharmaceuticals, present additional growth opportunities for the bromine derivatives market.

Market Segmentation

The market can be divided based on derivatives, application, and region.

Market Breakup by Derivatives

• Bromo Benzene
• Bromo Chloro Propane (BCP)
• n-Propyl Bromide (NBR)
• Inorganic Bromides
• Alkyl Bromides
• Others

Market Breakup by Application

• Pharmaceutical
• Chemical Synthesis
• Solvent
• Flame Retardants
• Water Treatment
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global bromine derivatives companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Albemarle Corporation
• Dhruv Chem Industries.
• Gulf Resources, Inc.
• Jordan Bromine Company
• Pacific Organics Pvt Ltd.
• Mody Chemi-Pharma Limited
• Lanxess AG
• Krishna Solvechem Ltd.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.