The bromine derivative market is set to witness a remarkable surge, with an impressive compound annual growth rate (CAGR) of 5.10%. Industry experts have forecasted that the market could skyrocket to an astounding valuation of USD 12,037.00 million by 2034, depicting a significant increase from its current value of USD 7,292.20 million in 2024.
| Attributes | Details |
|---|---|
| Bromine Derivative Market Size, 2024 | USD 7,292.20 million |
| Market Size, 2034 | USD 12,037.00 million |
| Value CAGR (2024 to 2034) | 5.10% |
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Principal Consultant
| Attributes | Details |
|---|---|
| By Derivative | Organobromine |
| Market share in 2024 | 27.60% |
Demand for fire safety is expected to drive the growth of the segment, as organobromine plays a crucial role as a fire retardant. Also, organobromine compounds are mostly used in various products that are currently experiencing high adoption rates, such as construction materials, electronics, and textiles.
| Attributes | Details |
|---|---|
| By Application | Biocide |
| Market Share in 2024 | 20.10% |
Escalating need for pure and clean water is anticipated to heighten the demand in the biocide segment. This is because biocides play a crucial role in water treatment applications. By controlling the growth of harmful microorganisms in water, these derivatives are gaining popularity among biocide makers in the current period. Moreover, extensive use of biocides has been seen in developed countries in recent years.
| Countries | CAGR from 2024 to 2034 |
|---|---|
| United States | 3.20% |
| China | 6.70% |
| Germany | 2.10% |
| Japan | 5.80% |
| United Kingdom | 2.60% |
The CAGR of the bromine derivative market for the forecast period in the United States is anticipated to be 3.20%. The expansion of the pharmaceutical industry is expected to drive the demand for bromine derivatives in the region.
Bromine derivatives such as potassium bromide and sodium bromide are used in the manufacture of sedatives, anticonvulsants, and other drugs. With the aging population in the United States, the demand for these drugs is expected to increase. This is leading to a corresponding increase in demand for bromine derivatives.
The market is expected to register a CAGR of 6.70% in China through 2034. China is one of the largest producers and users of bromine-infused goods at present. The country possesses extensive bromine reserves throughout its territory, providing it with a significant edge in the global bromine derivative market. This domestic availability of raw materials ensures a consistent supply of bromine derivatives, decreasing reliance on imports and fueling industry development.
The market is expected to progress at a CAGR of 2.10% in Germany for the forecast period. Germany is renowned for its robust vehicle sector. As regulatory regulations for passenger fire safety become increasingly stringent, there is a substantial demand for bromine derivatives in Germany’s automotive sector. Bromine derivatives enhance fire safety by being employed in a wide range of components and materials, such as wire harnesses, seat foams, dashboard materials, and insulation.
The bromine derivative market in the United Kingdom is expected to progress at a CAGR of 2.60% throughout the forecast period. Manufacturers and business owners in the country are increasingly recognizing the need for sustainable and ecologically friendly fire retardant solutions in the industrial sector.
This sustainability shift has directly benefited the market. Manufacturers are also investing in research and development activities to find new ways to produce bromine compounds with a lesser environmental impact.
The market is expected to progress at a CAGR of 5.80% in Japan. Upsurge in high-quality products in industries requiring flame retardant chemicals for safety is presumed to increase demand for bromine derivatives in the country. Also, the need for pesticides and drug discoveries is driving industry growth in Japan.
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The increasing competition in the market creates barriers for new players to enter. Established companies are expanding their portfolios and offering innovative products to their consumers. Moreover, several bromine producers are seen involved in producing downstream derivatives. Also, by applying market strategies such as brand promotion, partnerships, and collaboration, manufacturers are ready to gain substantial market share in upcoming years.
Albemarle Corporation
Albemarle Corporation is a global specialty chemicals company that operates in various markets, including lithium, bromine specialties, and refining catalysts. The company was founded in 1994 and is headquartered in Charlotte, North Carolina, United States.
Albemarle is a leader in the production of bromine derivatives, which are used in a variety of applications, including flame retardants, oil and gas drilling fluids, water treatment chemicals, and pharmaceuticals. The company's bromine derivatives portfolio includes products such as ethylene dibromide, clear brine fluids, and flame retardants.
Jordan Bromine Company
Jordan Bromine Company Ltd. (JBC) is a leading producer of bromine and its derivatives, with a focus on the production of flame retardants and oilfield chemicals. The company was founded in 1999 and is headquartered in Amman, Jordan.
JBC has a significant presence in the production of bromine derivatives, which are used in various applications such as flame retardants, oil and gas drilling fluids, water treatment chemicals, and pharmaceuticals. The company's bromine derivatives portfolio includes products such as tetrabromobisphenol A, decabromodiphenyl oxide, and flame retardant blends.
Recent Developments
| Attribute | Details |
|---|---|
| Estimated Market Size (2024) | USD 7,292.20 million |
| Projected Market Size (2034) | USD 12,037.00 million |
| Anticipated Growth Rate (2024 to 2034) | 5.10% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | USD million or billion for Value and Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; Middle East & Africa (MEA); East Asia; South Asia and Oceania |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa |
| Key Segments Covered | By derivative, application, end use, and region |
| Key Companies Profiled | Albemarle Corporation; ICL Industrial Products; Jordan Bromine Company Ltd.; Tata Chemicals Ltd.; Tosoh Corporation; Gulf Resources Inc.; Hindustan Salts Limited; Morre-Tec Industries Inc.; Shouguang Weidong Chemical Co. Ltd. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The industry is expected to grow at a CAGR of 5.10% from 2024 to 2034.
The industry size is expected to be worth USD 7,292.20 million in 2024.
The market is estimated to get as big as USD 12,037.00 million by 2034.
The CAGR of the industry in the United States from 2024 to 2034 is estimated to be 3.20%.
The CAGR of the market in China from 2024 to 2034 is estimated to be 6.70%.
The market can be divided into the following segments: derivative, application, end use, and region.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Derivative 5.1. Sodium Bromide 5.2. Calcium Bromide 5.3. Zinc Bromide 5.4. TBBPA 5.5. DPDPE 5.6. Others 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application 6.1. Flame Retardants 6.2. Organic Intermediates 6.3. Oil & Gas Drilling 6.4. Biocides 6.5. PTA Synthesis 6.6. Others 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use 7.1. Chemicals 7.2. Pharmaceuticals and Cosmetics 7.3. Electronics and Consumer Goods 7.4. Textile 7.5. Medical 7.6. Agricultural and Pesticides 7.7. Automotive 7.8. Building and Construction 7.9. Water Treatment 7.10. Other 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Israel Chemicals Limited 18.2. Albemarle Corporation 18.3. Tosoh Corporation 18.4. Tata Chemicals Limited 18.5. LANXESS AG 18.6. Sumitomo Chemical Co.Ltd 18.7. Perekop Bromine 18.8. Archean Group 18.9. Jordan Bromine Company 18.10. Gulf Resources Inc. 18.11. Hindustan Salts Limited 19. Assumptions & Acronyms Used 20. Research Methodology
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Bromine Derivative Market
