Bromine Market Size, Share, Revenue Opportunity, Competitive Analysis and Forecast 2021-2026
Bromine is the third-biggest halogen-bearing component that presents in the red fluid structure with nuclear number 35 at the room's temperature. Across the world, bromine is broadly well known for its utilization as a reactant and impetus. The items like drugs, sanitizers, biocides, agrochemicals, colors, visual synthetic substances, and fire retardants are delivered from bromine. The districts, for example, Israel and U.S are delivering the significant wellspring of bromine, i.e., the Dead Sea.
The bromine market is fragmented into application, subsidiaries, and end-client industry. Among these, the organ bromides subsidiary portions are anticipated to rule the worldwide market. Likewise, this fragment has planned to meet the most elevated CAGR during the estimate years.
Global Bromine Market - Trends, COVID-19 impact and Growth Forecasts to 2026
ChemIntel360’s global Bromine market study is a 150 slide report containing in depth analysis on historical and forecasted spending and consumption patterns in the sector. We offer granular value and volume data from a global, regional, and applications perspective. Despite the adverse effects of the COVID-19 pandemic, the industry is expected to rebound strongly and grow at a CAGR of 3.6% over 2021-2026. The main factors driving growth is the chemical’s extensive use in manufacture of brominated flame retardants which is used in reducing flammability of plastics, the demand for which has witnessed robust growth in light of various food safety measures.
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Scope
This study contains global and regional market size data - value and volume. The numbers are broken down by application (Brominated flame retardants, Clear brine fluids, Water treatment, Hydrogen bromide, Methyl bromide and Others). The historical period runs through 2015-2020 and the forecasted period from 2021-2026.
Market Overview
The global Bromine market, which grew from US$X.X billion in 2015 to US$X.X billion in 2019, dropped marginally to US$3.0 billion in 2020, due to the ongoing COVID-19 pandemic. Spending is expected to recover in 2021 to value US$X.X billion and increase to US$X.X billion in 2026 at a CAGR of 3.6%. Cumulatively the market is expected to value US$X.X billion during the forecast period as compared to US$X.X billion during the historical period.
COVID-19 Impact Analysis
The continuous pandemic causes individuals to sit in their homes and has impacted the development of different promoting areas. Among them, worldwide bromine market is one, which has confronted tremendous misfortune during the lockdown. The worldwide pandemic has encountered a stop for a specific timeframe in the primary portion of 2020, which has brought work lack, material deficiency, wellbeing security challenges, and different difficulties. The worldwide market has likewise lost its financial backers in this pandemic time.
In this manner, the bromine market outline report says that the central participants are embracing different systems to expand the clients' requests by inferring different new progressed mechanical strategies. The worldwide pandemic has halted the development of the worldwide market for a specific period yet can't stop it for a more drawn-out timeframe. The commitment of more central members has improved the development of the worldwide market in the current setting.
Regional Analysis
Based on the regional classification, the global bromine market is increasing its demand in various regions such as the Middle East & Africa, Latin America, North America, Asia Pacific, and Europe.
Key Companies
The bromine market is a highly consolidated market in nature. Some of the major players in the market include ICL, Jordan Bromine Company, Lanxess, Albemarle Corporation, and Gulf Resources Inc.
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