The global market for Bromine is projected to reach 886 thousand metric tons by 2022, driven by growing role of brominated compounds in oil & gas drilling fluids, organic intermediates, water treatment chemicals, polymeric flame retardants and several other applications.
The global market for bromine is witnessing steady growth, driven by rising demand for brominated compounds in oil & gas, automotive, and electronics sectors, as well as increasing demand for bromianted disinfectants and fumigants in water treatment and agriculture industries. Outlook for the market remains encouraging despite the enforcement of strict legislations and regulations on use of bromine-based products by governments across the world. Brominated flame retardants (BFRs) are expected to remain the leading application for bromine, driven by growing popularity of bromine-based polymeric flame retardants, which unlike conventional BFRs are eco-friendly and exhibit low toxicity and low bioaccumulation. Use of bromine in oil & gas drilling fluids is forecast to emerge as the fastest growing application area amid growing popularity top-class elemental compounds in drilling fluid formulations.
Bromine demand is also expected to receive a boost from the emergence of innovative applications coupled with rising demand for the element from emerging countries. Flow battery and mercury emission control represent potent new applications with the potential to drive future growth in the bromine market. Increasing use of various derivatives of bromine in applications such as biocides, water treatment, and dyes will also boost growth prospects further. Though bromine finds limited applications in the pharmaceuticals sector, demand is expected to increase in the coming years, given the use of bromine compounds in various clinical trials focused on therapeutics for Alzheimer's, dementia, STDs, and certain forms of cancer. Despite the opportunities for growth, bromine market will nevertheless confront challenges such as restrictions on the use of brominated flame retardants, emergence of competing environment friendly alternatives to brominated flame retardants, declining use of DECA and HBCD along with the imminent phase out of methyl bromide.
Asia-Pacific represents the largest and the fastest growing market led by China, India, South Korea, Thailand, Taiwan, Indonesia, Australia and Singapore. China ranks as the major consumer of bromine in the region. The country also ranks among the largest producers of bromine, worldwide. The expansion of manufacturing industries such as textiles, electronics, and automotive as well as growing demand for biocides in agriculture and water treatment applications represent other major factors spurring growth in the region.
Major players in the market include Albemarle Corporation, Arab Potash Company, Chemada Fine Chemicals Company Ltd., Clearon Corporation, DowDuPont Inc., Gulf Resources Inc., Hindustan Salts Limited, Honeywell International Inc., ICL-IP America Inc., Israel Chemicals Limited (ICL), Jordan Bromine Company Ltd., LANXESS AG, MORRE-TEC Industries Inc., Oceanchem Group, Perekop Bromine, Shouguang Luyuan Salt Chemical Co. Ltd, Solaris ChemTech Industries Ltd., Tata Chemicals Ltd., Tetra technologies Inc., and Tosoh Corporation among others.