Major players in the bromine derivatives market are Albemarle Corporation, Israel Chemicals Limited, Lanxess Corporation, Hindustan Salts Limited, Honeywell International Inc., Tata Chemicals Ltd., Tetra Technologies Inc., Tosoh Corporation, Jordan Bromine Company, Beacon Organosys, Morre-Tec Industries Inc., Chemtura Corporation, Gulf Resources Inc., Neogen Chemical Limited, and Mil-Spec Industries Corp.
The global bromine derivatives market is expected to grow from $4.63 billion in 2022 to $4.89 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The bromine derivatives market is expected to reach $5.99 billion in 2027 at a CAGR of 5.2%.
The bromine derivative market consists of sales of ammonium bromide and hydrogen bromide.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Bromine derivatives refers to a chemical compound formed from the bromine atom. It is primarily used for halogenated frame retardants and mercury emissions and is used in various industries verticals.
Asia-Pacific was the largest region in the bromine derivatives market in 2022 and is expected to be the fastest-growing region in the forecast period. The regions covered in the bromine derivative report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of bromine derivatives are sodium bromide, calcium bromide, zinc bromide, TBBPA, DPDPE, and other derivatives.Sodium bromide refers to an inorganic substance that, when dried, has the appearance of a white, crystalline powder and a mildly salty, bitter taste.
It is used in various applications including flame retardants, safety apparel, organic intermediates, oil and gas drilling, biocides, PTA synthesis and others, which includes end-user such as chemical, construction, oil and gas, pharmaceuticals, electronics and others.
The increasing construction industry worldwide is expected to propel the growth of the bromine derivatives market going forward.The construction industry refers to the industrial branch of manufacturing and trade that builds, repairs, renovates and maintains infrastructures.
Bromine derivatives are utilised to construct complex infrastructure due to their compatibility with most non-metallic building materials, including fiberglass-reinforced plastic (vinyl ester or polyester FRP), polyvinyl, and other such related components. For instance, in December 2022, according to the Office for National Statistics, a UK-based government department, the construction output increased by 0.8% in volume in October 2022, marking the highest construction output of $16576.33 million (£15,248 million) compared to the previous fourth consecutive month. Therefore, the increasing construction industry worldwide is driving the bromine derivatives market.
Product innovation is a key trend in the bromine derivatives market.Major companies operating in the bromine derivatives market are focused on developing innovative solutions to strengthen their position in the market.
For instance, in September 2022, De Nora, an Italy-based company specializing in electrochemistry, launched MIOX Bromine Oxidant Solution System.This bromine production system enhances processes for treating water with high ammonia or pH concentrations, which is crucial for cooling tower applications.
The chlorine-based solution generated by the on-site generator is changed into a bromine-containing solution by MIOX BOSS using an activator solution that contains bromide.Its primary use is for cooling towers, where owners frequently implement an alkaline treatment program to reduce cooling tower corrosion.
MIOX generators create oxidizing solutions using three readily available consumables: water, salt, and electricity.
In December 2021, Arxada AG, a Swiss-based company specializing in the chemical business, acquired Enviro Tech Chemical Services for an undisclosed amount.Through this acquisition, Arxada AG would establish a new, complementary business line.
It would also help Arxada expand its manufacturing presence due to the acquisition. Enviro Tech Chemical Services is a US-based manufacturer of peracetic acid and stabilized bromine-based biocides products for the food processing industry.
The countries covered in the bromine derivatives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The bromine derivatives market research report is one of a series of new reports that provides bromine derivatives market statistics, including bromine derivatives industry global market size, regional shares, competitors with bromine derivatives market share, detailed bromine derivatives market segments, market trends, and opportunities, and any further data you may need to thrive in the bromine derivatives industry. This bromine derivatives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.