Key players in this market are Albemarle Corporation, Chemtura Corporation, Tetra Technologies, Sanofi-Aventis U.S., Tosoh Corporation, Israel Chemicals Ltd. (ICL) and others.
(PRWEB) June 29, 2014
Bromine is the only non-metallic element that is liquid under ordinary conditions, it evaporates easily at standard temperature and pressures into red vapor, which has a strong disagreeable odor resembling that of chlorine. Bromine is chemically less active than chlorine and fluorine, but is more active than iodine. Its compounds are similar to those of the other halogens. Bromine is soluble in organic solvents and in water.
The major application of bromine is in flame retardants and its demand increases as the need for safety rises. Also, the demand for new and modern cars will drive the demand for bromubutyl rubber; a derivative obtained by the reaction of butyl rubber with bromine, and is mainly used in tires. Bromine is used in industry to make organobromo compounds. A major one was dibromoethane, an agent for leaded gasoline, before they were largely phased out due to environmental considerations. Other organobromines are used as insecticides, in fire extinguishers and to make pharmaceuticals. Bromine is used in making fumigants, dyes, flame-proofing agents, water purification compounds, sanitizes, medicines, as agents for photography, in brominates vegetable oil, and as emulsifier in many citrus-flavored soft drink.
The demand for bromine in Asia-Pacific is driven by the rapidly expanding electronics and automotive industry. Bromine and its derivatives are used as flame retardants and plasma etching processes in electronics goods. China and Japan are the two largest electronics goods manufacturer and exporter in Asia-Pacific. Japan has the largest electronics goods industry. In order to minimize the loss of goods and human lives, the regulations on fire safety in electronics goods have been more stringent in past few years. This has contributed to the increased uses of flame retardants in electronics goods.
The Bromine market in Asia-Pacific has been valued at $2.2b in the year 2013, and is expected to grow at 13.6% annually. It is projected to reach $4.1b by the end of the year 2018. This market constitutes 60.5% of the global Bromine market, and is poised to grow its market share to 63.6% by the end of year 2018. It is segmented on basis of applications and geographies.
Browse through the market data tables, figures and detailed ToC on the “Asia-Pacific Bromine Market.”
Europe Bromine Market:
Bromine consumption in Europe is driven by an increased use of brominated compounds for pharmaceutical applications, and an increase in use of brominated flame retardants by the European automotive industry. Bromine compounds are used as anticonvulsants in veterinary and human medicines. These are used in manufacturing sedatives, analgesics and antihistamines medicines. Bromine compounds are also used in various drugs used for treating pneumonia and cocaine addiction. European pharmaceutical industry is expected to grow at a moderate pace in coming years.
The market for Bromine in Europe constitute 4.5% of the global Bromine market, and is poised to grow its market share to 3.9%, by the end of year 2018. It is segmented on basis of applications and geographies.
North America Bromine Market:
The North American market for bromine is mainly driven by Stringent Fire Safety Regulations, and a growing demand for brine fluids. Stringent fire safety regulation has led to an increase in consumption of flame retardants in major markets of North America. Furnishing industry in North America focuses on meeting federal flammability standards set by Consumer Product Safety Commission (CPSC).
The consumption of brine fluids is increasing in North America, as the region is witnessing increased oil & gas drilling activities. The U.S. is the largest producer of natural gas in the world, and the shale gas production is also increasing at brisk pace in the country. This will result in the increased demand for clear brine fluids in the country.
About MicroMarket Monitor
MicroMarket Monitor identifies and attends to various unmet needs of different industrial verticals, which include value chain impact analysis. The company publishes about 12000 Market Research Reports on various Micro Markets across the world. The graphical nature and multidimensional analysis of these reports provide advanced Business Intelligence Tools to the clients in that particular target market.
Mr. Chandrasekhar K.
5601 Bridge Street
Connect with us on LinkedIn at http://www.linkedin.com/company/micromarketmonitor.