Bromine Market Projected to Grow 776, 844.91 Tons by 2018 - Report by MarketsandMarkets
(PRWEB) August 09, 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:"
http://www.marketsandmarkets.com/Market-Reports/bromine-market-42782196.html.
The global market for bromine & its derivatives is growing at a brisk pace with Asia-Pacific as a leading consumer followed by ROW, Europe, and North America. The major applications for bromine & its derivatives are oil & gas drilling, pharmaceutical formulations, flame retardants, biocides, fumigants, HBr flow battery, plasma etching, and PTA synthesis. Flame retardants are the largest application for bromine & its derivatives.
The demand for bromine & its derivatives is driven by end-user industries such as oil & gas, textile, electronics, automotive, water treatment, agricultural, furnishing, shipbuilding, pharmaceutical, and construction. Asia-Pacific with a CAGR of 3.27% is currently the fastest growing market for bromine and its derivatives. A major share of the bromine consumed in Asia-Pacific is used for making flame retardants, water treatment chemicals, biocides and brine fluids.
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Favorable regulations and increasing demand for bromine & its derivatives makes Asia-Pacific an attractive venue for capacity expansion. Asia-Pacific is the fastest growing market for bromine across the world, followed by ROW, North America, and Europe. China is the world’s largest consumer for organobromine and hydrogen bromide.
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North America is the largest consumer for clear brine fluids across the world. Moreover, Asia-Pacific enjoys a higher investor confidence due to favorable government policies that encourage capacity expansion in this region. Tosoh Corporation (Japan), Gulf Resources Inc. (China), Tata Chemicals Limited (India), and Hindustan Salts Limited (India) are some of the major manufacturers of bromine & its derivatives in Asia-Pacific. Availability of bromide salts in Dead Sea makes ROW an attractive venue for capacity expansion.
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Availability of bromides & brines presents an opportunity for manufacturing bromine & its derivatives at competitive prices. Bromine is produced by making Chlorine react into an aqueous solution of bromide. Due to environmental and public health concerns, the governments across major markets especially in North America have rolled out policies to encourage use of bromine in coal fired power plants to reduce the level of mercury emissions. Stringent fire safety regulations in North America and an expanding consumer durables industry in Asia-Pacific has resulted in an increase in demand for organobromines in the respective regions. Increased drilling activity has resulted in an increase in demand for brine fluids in regions with proven unconventional oil & gas reserves.
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