Market Size of Bromine Derivatives Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Bromine Derivatives Market Analysis
The global bromine derivatives market is estimated to register a CAGR of over 5% during the forecast period.
The COVID-19 outbreak caused nationwide lockdowns globally, which disrupted many industrial sectors like building & construction, electronics manufacturing, and oil & gas drilling operations leading to a slowdown in demand for bromine derivatives. However, the conditions began to improve in 2021, as most of the electronics, oil & gas drilling, and construction industries recovered, which is expected to boost the market growth during the forecast period.
- Increasing the use of bromine derivatives in water disinfection and industrial cooling water treatment purposes will further drive the demand. Bromine derivatives are used as antiseptics, hypnotics, anticonvulsants, and sedatives in the pharmaceutical industry. Demand for bromine derivatives is expected to rise in accordance with the growth of the pharmaceutical and water treatment industries.
- Global demand and supply for oil is expected to continue fluctuating with rising geopolitical tensions. This could potentially affect the demand for bromine derivatives with applications in the oil and gas drilling industry.
- Nevertheless, with bromine derivatives being used as an intermediate in many chemical, pharmaceutical, and agro-industries, the demand and consumption are expected to grow during the forecast period.
- The Asia-Pacific region is expected to dominate the global market and is also likely to witness the highest CAGR during the forecast period.
