Bromine Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Bromine Market is segmented by Derivative (Organo Bromines, Bromide Salts, and Hydrogen Bromide), Application (Biocides, Flame Retardants, Bromine-based Batteries, Clear Brine Fluids, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

Market Snapshot

Bromine Market Overview
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >4 %
Bromine Market Key Players

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Market Overview

The bromine market size was estimated at 555.94 kiloton in 2020, and the market is projected to register a CAGR of over 4% during the forecast period (2021-2026).

The market was negatively impacted by COVID-19 in 2020. Disruption in the global supply chain, coupled with the decline in the manufacturing industry, is impacting the market's growth. According to the International Energy Agency (IEA), the global oil and gas demand in 2020 was 90,000 barrels per day less than the demand in 2019. At the same time, the demand for pharmaceuticals and wastewater treatment increased, owing to the pandemic situation, thus, impacting the demand in the bromine market during the forecast period.

  • Over the short term, the primary factor driving the market studied is the increasing demand for clear brine fluids (CBFs) in the oil and gas industry in North America. Government policies favoring the electric vehicle market, coupled with changing consumer buying behavior in the vehicle market in countries, like Germany, China, Japan, and the Netherlands, are likely to drive the market.
  • The emergence of non-halogenated flame retardants is expected to hinder the growth of the market studied.
  • The shift toward energy storage is likely to act as an opportunity in the future.
  • Asia-Pacific dominated the market studied with more than 50% of the total volume of the market studied.

Scope of the Report

Bromine is a halogen chemical element, which is a red-brown liquid at room temperature. It has a pungent smell and causes irritation to the eyes and skin. The market is segmented on the basis of derivative, application, and geography. By derivative, the market is segmented into organo bromines, bromide salts, and hydrogen bromide. By application, the market is segmented into biocides, flame retardants (FR), bromine-based batteries, clear brine fluids (CBF), and other applications. The report also covers the market size of and forecasts for the bromine market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kiloton).

Derivative
Organo Bromines
Bromide Salts
Hydrogen Bromide
Application
Biocides
Flame Retardants (FR)
Bromine-based Batteries
Clear Brine Fluids (CBF)
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Increasing Demand for Flame Retardants

  • Flame retardants account for the largest share in the bromine market. Despite the increasing regulations and ban on some of the bromine-based flame retardants, this segment is still dominating the market, owing to the effective characteristics of bromine in controlling the fire.
  • Polybrominated diphenyl ether, polybrominated biphenyl, decabromodiphenyl ether, hexabromocyclododecane, and tetrabromobisphenol A are a few of the examples of flame-retardant chemicals that are made using bromine.
  • According to the National Fire Protection Association (NFPA), in 2019, around 1.3 million fire incidents were reported in the United States, causing a loss of USD 14.8 billion of property and thousands of lives. Additionally, with the rising demand for electrical and electronics products, coupled with various combustible materials in houses, flame retardants become a crucial part of safety, thus, enhancing the market demand.
  • There are around 80 different types of brominated flame retardants (BFRs), which have widely varying chemical properties. Some of these types include brominated bisphenols, diphenyl ethers, cyclododecanes, bisphenols, phenols, phenoxy ethanes, and phthalic acid derivatives.
  • BFRs are commonly used to prevent fires in electronics and electrical equipment, which accounts for more than 50% of their applications. For instance, these flame retardants are extensively used in the outer housings of TV sets and computer monitors, as the internal circuitry of such devices can heat up, and over time, collect dust.
  • Printed circuit boards also require flame retardancy properties, which are often provided by a crosslinked brominated epoxy resin polymer manufactured from tetrabromobisphenol-A (TBBPA).
  • In addition, BFRs are used in wire and cable compounds. They are used in specialty fabric back-coatings for curtains, seating, furniture, transport, public buildings, and domestic upholstered furniture.
  • Synergistic agents, such as antimony oxides, further increase the effectiveness of both brominated and chlorinated flame retardants by enabling the halogen to stay in the flame zone for more extended periods.
  • Furthermore, other applications include furniture foams, textiles, and plastic casing employed in electronics, computers, televisions, fridges, radios, and washing machines.
  • The United States' federal government has regulations in place that restrict specific flame retardants, including TDBPP, PentaBDE, OctaBDE, DecaBDE, and HBCD, in particular applications.
  • Recently, European recyclers are lobbying to reconsider a proposed EU legislation, which has lowered concentration limits of decaBDE, a brominated flame retardant, in substances and products.
  • Rising construction activities across the world are boosting the demand for bromine compounds in the aforementioned applications.
Bromine Market Key Trends

China to Dominate the Asia-Pacific Market

  • In the Asia-Pacific region, China is the largest economy in terms of GDP. The country witnessed a GDP growth of 1.9% in 2020, and it is expected to grow by 8.2% in 2020.
  • China is the fourth-largest producer of bromine, after Israel, Jordan, and the United States. Flame retardants are the largest application of bromine in China, followed by clear brine fluids and water treatment. Brominated flame retardants are used to hinder or suppress combustion in commercial and industrial applications, such as furniture, textile, construction, electrical, etc.
  • The country is investing USD 1.43 trillion in the next five years until 2025 in major construction projects that include ultra high voltage energy projects, big data centers, high-speed railway and intercity tracks and stations, 5G base stations, and electric vehicle charging stations.
  • According to the National Development and Reform Commission (NDRC), the Shanghai Plan includes the investment of USD 38.7 billion in the next three years, whereas Guangzhou signed 16 new infrastructure projects with an investment of USD 8.09 billion.
  • Moreover, China has the world’s largest electronics production base. Electronic products, such as smartphones, TVs, wires, and cables, recorded the highest growth in the electronics segment. The country serves not only domestic demand for electronics but also exports electronic output to other countries. With the growing electronics and construction industry, the demand for bromine-based flame-retardants is expected to increase.
  • As a result of the growing need for zinc-bromine flow batteries and the consumption of clear brine fluids in China, the demand for organobromines is driving the bromine market.
  • China is one of the major markets for zinc-bromine flow batteries due to the region's growing electric vehicle market. Although the Chinese car market declined in 2019, the electric vehicle segment witnessed a growth of 4.7% in 2019.
  • Clear brines are used as completion and drilling fluids by the oil drilling industry. China is the largest crude oil producer in the Asia-Pacific region. In 2019, the Chinese government directed Chinese state-owned oil and gas companies to increase the domestic production and reserves to improve the domestic energy security of the country.
  • As a result, an increasing number of oil and gas upstream joint initiatives have emerged in the country. China National Offshore Oil Corporation (CNOOC) is signing strategic cooperation agreements, which are a new and flexible method of jointly developing oil and gas fields. This is likely to drive the growth of the oil and gas industry, which, in turn, is likely to boost the demand for clear brine fluids.
  • Therefore, the aforementioned factors are expected to increase the demand for bromine in China over the forecast period.
Bromine Market Growth by Region

Competitive Landscape

The bromine market is a highly consolidated market in nature. Some of the major players in the market include ICL, Jordan Bromine Company, Lanxess, Albemarle Corporation, and Gulf Resources Inc.

Recent Developments

  • In February 2021, Albemarle Corporation announced to sell the Fine Chemistry Services business to W.R. Grace & Co. for USD 570 million. This initiative is in line with the company's commitment to refine its product portfolio.
  • In May 2020, Gulf Resources Inc. commenced commercial production in two of China's manufacturing facilities. These two factories started the trial production in mid-April 2020. Based on the results of the trial production, these two factories commenced commercial production.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand for Clear Brine Fluids (CBFs) in North America

      2. 4.1.2 Rising Demand in Water Treatment Applications

      3. 4.1.3 Increasing Demand for Flame Retardants

    2. 4.2 Restraints

      1. 4.2.1 Emergence of Non-halogenated Flame Retardants

      2. 4.2.2 Environmental and Health Concerns Regarding Brominated Flame Retardants

      3. 4.2.3 Impact of the COVID-19 Pandemic

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Derivative

      1. 5.1.1 Organo Bromines

      2. 5.1.2 Bromide Salts

      3. 5.1.3 Hydrogen Bromide

    2. 5.2 Application

      1. 5.2.1 Biocides

      2. 5.2.2 Flame Retardants (FR)

      3. 5.2.3 Bromine-based Batteries

      4. 5.2.4 Clear Brine Fluids (CBF)

      5. 5.2.5 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Albemarle Corporation

      2. 6.4.2 Gulf Resources Inc.

      3. 6.4.3 Hindustan Salts Limited

      4. 6.4.4 Honeywell International Inc.

      5. 6.4.5 ICL

      6. 6.4.6 JORDAN BROMINE COMPANY

      7. 6.4.7 LANXESS

      8. 6.4.8 Solaris Chemtech

      9. 6.4.9 Tata Chemicals Ltd

      10. 6.4.10 TETRA Technologies Inc.

      11. 6.4.11 Tosoh Corporation

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Shift Toward Energy Storage

**Subject to Availability

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Frequently Asked Questions

The Bromine Market market is studied from 2016 - 2026.

The Bromine Market is growing at a CAGR of >4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

ICL, Albemarle Corporation, Gulf Resources, Inc., JORDAN BROMINE COMPANY, LANXESS are the major companies operating in Bromine Market.

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