1. Market Research
  2. > Materials
  3. > Chemicals Market Trends
Bromine Market - Growth, Trends, and Forecast (2020 - 2025)

Bromine Market - Growth, Trends, and Forecast (2020 - 2025)

  • June 2020
  • 153 pages
  • ID: 5821474
  • Format: PDF
  • Mordor Intelligence LLP
Up to $1125 off Until Aug 10th 2020

Summary

Table of Contents

Search Inside

The global bromine market is expected to record a CAGR of over 4% during the forecast period. The primary factor driving the market studied is the increasing demand for clear brine fluids (CBFs) in North America.

- The emergence of non-halogenated flame retardants is expected to hinder the growth of the market studied.
- The shift towards 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.

Key Market Trends
Increasing Demand for Flame Retardants

- Flame retardants account for the largest share in the global bromine market. Despite, 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 diphenylether, polybrominatedbiphenyl, decabromodiphenylether, hexabromocyclododecane, and tetrabromobisphenolare few of the examples of flame-retardant chemicals that are made using bromine.
- There are around 80 different types of brominated flame retardants (BFRs), which have widely varying chemical properties, and are available in the market. Some of these types include brominated bisphenols, diphenylethers, cyclododecanes, bisphenyls, phenols, phenoxy ethanes, and phthalicacid 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. Short circuits and electrical or electronic malfunctions can occur.
- Printed circuit boards also require flame retardanceproperties, which are often provided by a crosslinkedbrominated epoxy resin polymer, manufactured from tetrabromobisphenol-A (TBBPA).
- In addition, BFRs are used in wire and cable compounds, for example, for use in buildings and vehicles and other building materials, such as insulation foams. They are also used in specialty fabric back-coatings for curtains, seating, and furniture, in transport and 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 longer periods.
- Furthermore, other applications include furniture foams, textiles, plastic casing employed in electronics, computers ,televisions, fridges, radios, and washing machines.
- In recent years, legislation is concentrating on the restriction in the use of these compounds as flame retardants, all over the world. Some brominated flame-retardant producers voluntarily agreed to put restrictions on production, export, and import of their products in the European Union, in advance of legislation itself.
- The federal government of the United States has regulations in place that restrict specific flame retardants, including TDBPP, PentaBDE, OctaBDE, DecaBDE, and HBCD, in specific applications.
- Recently, European recyclers are lobbying for the reconsideration of a proposed EU legislation, which has lowered concentration limits for decaBDE, a brominated flame retardant, in substances and products.
- Rising construction activities, across the world, is in turn boosting the demand for bromine compounds in the aforementioned applications.

China to Dominate the Asia-Pacific Market

- In the Asia-Pacific region, China is the largest economy in terms of GDP. The country witnessed about 6.1% growth in its GDP during 2019, even after the trade disturbance caused due to its trade war with the United States. The economic growth rate of China in 2020 was initially expected to be moderate as compared to the previous year.
- However, due to the onset of COVID-19 in 2020, the economic growth of China is now expected to contract to a considerable extent. The IMF has cut the nation’s GDP growth forecast to about 5.6%, on account of assumptions that the outbreak was only limited to China. However, as it is not the case currently, the GDP growth of the nation for 2020 is expected to decline further.
- 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 for commercial and industrial applications, such as furniture, textile, construction, electrical, etc.
- In China, the construction industry grew at a strong pace in 2019, even though the growth slowed down during the year, as compared to 2018. The construction sector has supported the economic growth in the country. Although this growth has been far less when compared to the average growth of construction sector over the past ten years.
- Moreover, China has the world’s largest electronics production base. Electronic products, such as smartphones, TVs, wires, cables, etc., 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 the bromine-based flame-retardant application is expected to increase.
- The enormous demand for organobromines, as a result of the growing need for zinc-bromine flow batteries and consumption of clear brine fluids in China, is driving the bromine market.
- China is one of the major markets for zinc-bromine flow batteries, owing to the increasing electric vehicles market in the region. Although, the Chinese car market declined in 2019, the electric vehicle segment also witnessed a growth of 4.7% in 2019 with approximately 1.18 million plug-in electric cars were sold in China 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, increasing numbers 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

Competitive Landscape
nThe bromine market is a highly consolidated market, where the top four players account for more than 86% of the total global production capacity. The bromine market is primarily dominated by players, such as ICL, JBC (joint venture between Albemarle Corporation and Arab Potash Company), LANXESS, and Albemarle Corporation.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
15% Off

($4250)

  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.

ref:plp2020

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on