Key Players in Bromine Market: Israel Chemicals Ltd (Israel), Albemarle Corporation (U.S.), Tosoh Corporation (Japan), Jordan Bromine Company (Jordan), Gulf Resources (China), Tata Chemicals (India), Hindustan Salts Limited (India).
(PRWEB) November 20, 2014
The report, “Bromine & its derivatives market by Derivatives, Application, & Geography – Global trends & forecasts 2018”, defines and segments the global bromine & its derivatives market with analysis and forecasting of the market by revenue and volume.
Browse 107 market data tables and 44 figures spread through 226 pages and in-depth TOC on “Bromine Market".
The global market value for bromine is expected to reach to $6,414.22 million by 2018. The global consumption for bromine is expected to grow with a CAGR of 2.69% in the next five years.
Bromine is produced by making chlorine react into an aqueous solution of bromide. Bromide salts are found in Dead Sea, Ocean waters, and Brine wells. Bromine & its derivatives are used as flame retardants in industries such as, construction, automotive, textile, electronics, and furnishing to protect commodities from fire hazards.
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The market for bromine & its derivatives is expected to increase in Asia-Pacific and ROW, due to the increased market for applications such as flame retardants, oil and gas drilling, biocides, pharmaceutical formulations, plasma etching, HBr flow battery, fumigants, and PTA synthesis.
Fire regulations are becoming much more stringent in the Asia-Pacific region, resulting in increased consumption of flame retardants in end-user industries. The demand for clear brine fluids is expected to increase in Asia-Pacific and North America. The demand for bromine & its derivatives in Asia-Pacific is growing with the increasing manufacturing industry especially automotive, electronics, and textile. The other factors influencing the demand for bromine in Asia-Pacific are increasing oil & gas production, exploration activities in the region, and increasing demand for biocides in water treatment and agricultural industry. In North America, the increasing demand for bromine & its derivatives can be attributed to increasing demand of clear brine fluids in the oil & gas industry of the region. The other important factor driving the demand for bromine & its derivatives in North America is the growing automotive industry of Mexico, as Mexico’s automotive industry is expected to grow by 7.00% in coming years.
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However, due to environmental and public health concerns, there are certain factors that are expected to retard market growth in the future. These are:
- Use of some bromine-based fumigants like methyl bromide is banned in major markets in North America and Europe. Methyl bromide is an ozone depleting substance. Ban on use of certain brominated flame retardants like Deca-BDE, HBCD, and TBBPA
- Phosphorus, nitrogen, and chlorinated flame retardants are more environment-friendly compared to brominated flame retardants; these are considered as suitable replacements for brominated flame retardants. This may lead to a decline in the market share of brominated flame retardants in coming years
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Israel Chemicals Ltd (Israel), Albemarle Corporation (U.S.), Tosoh Corporation (Japan), Jordan Bromine Company (Jordan), Gulf Resources (China), Tata Chemicals (India), Chemtura Corporation (U.S.), Tetra Technologies Inc. (U.S.), Morre-Tec Industries Inc.(U.S.), Sanofi S.A. (France), and Perekop Bromine (Ukraine) are the major manufacturers of bromine & its derivatives across the world.
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