Market Definition
Bromine is a halogen element with the symbol Br and atomic number 35. A heavy, volatile, reddish-brown liquid at room temperature, bromine is a fumigant with a strong, disagreeable odor, and is frequently used as a disinfectant or a sedative. Bromine compounds are used as flame retardants, in agriculture, in medicine, and as pesticides.
Bromine is produced by electrolysis of brine solutions. The major commercial source of bromine is the Dead Sea in Israel. Other sources include the Great Salt Lake in the United States, the Sea of Galilee in Israel, and various lakes in Russia.
Market Outlook
The bromine market was approximately USD 2.7 Billion in 2022 and it is anticipated to grow at a rate of nearly 6.5% during the forecast period.
Bromine is used in a variety of applications, the largest of which is as a flame retardant. Bromine-containing flame retardants are used in a variety of products, including plastics, textiles, electronics, and automobiles. Bromine is also used as a disinfectant and an insecticide.
Globally, there is a shift towards renewable energy, which calls for innovative approaches to energy management and storage. Bromine-based flow batteries are among the newer technologies being used in this field. These batteries may be tailored to meet different energy storage needs due to their flexible architecture and high cycle life. The need for effective energy storage systems is highlighted by the fact that electricity networks throughout the world are depending more and more on renewable energy sources like solar and wind. For these storing requirements, our flow batteries provide a dependable alternative. The market for bromine-based solutions is being directly impacted by the large investments made in energy storage technology by both public and commercial entities. This element is essential to the market’s future expansion as it creates a whole new realm.
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Research Objectives
• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
• Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
• Identify factors influencing market growth and challenges, opportunities, drivers and restraints
• Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
• Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
• Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
• To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
• Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Market Segmentation
The Bromine Market report is segmented on the basis of Derivatives, Application, End-Use Industry, and Region. Based on Derivatives, it is analyzed across Organobromine, Clear Brine Fluids (CBF), and Hydrogen Bromide. Based on Application, it is categorized into Oil & Gas Drilling, Flame Retardants, PTA Synthesis, Water Treatment & Biocides, Mercury Emission Control, Pesticides, HBr Flow Batteries, Plasma Etching, and Others (Fumigant Synthetis and Butyl Rubber). On the basis of End-Use Industry, it is segmented into Automotive, Oil & Gas, Electrical & Electronics, Agriculture, Pharmaceutical, Cosmetics, Textile, and Others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and the Rest of the World.
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Major Players
Some of the key players of Bromine Market are CHEMADA (Israel), Albemarle Corporation (US), Gulf Resources, Inc. (China), Honeywell International Inc (US), ICL IP (Israel), Jordan Bromine Company (Jordan), LANXESS AG (Germany), MORRE-TEC Industries (US), Neogen Chemicals Limited (India), Satyesh Brinechem (India), Shandong Haiwang Chemical Co., Ltd. (China), Solaris Chemtech (India), Tata Chemicals Ltd. (India), TETRA Technologies, Inc. (US), and Tosoh Asia Pte. Ltd. (Singapore).
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Research Scope
• Scope – Highlights, Trends, Insights. Attractiveness, Forecast
• Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
• Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
• Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
• Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
• Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
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