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The Bromine Market is likely to witness an impressive CAGR of 6.7% during the forecast period. The prime factor that is contributing to the demand for Bromine is the increasing demand for Bromine in various industries.
This report on the Bromine Market has been put together covering various companies of the industry from different geographies. The study is a perfect blend of qualitative and quantitative research highlighting vital market developments, challenges and competition that the industry might face, along with opportunities and trends available in the Bromine Market. The report intends to present a thorough analysis of the Bromine Market and provide cutting-edge market intelligence to help decision makers undertake a sound investment evaluation. Besides, the report also classifies and analyses the emerging trends along with major growth drivers.
Bromine Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges act as extrinsic factors affecting the market. The report aims at answering several key questions concerning the overall profitability in the market.
Few key players operating in the Bromine Market are-
Israel Chemicals Limited
Albemarle Corporation
LANXESS Corporation
Tosoh Corporation
Tata Chemicals Limited
Gulf Resources Inc.
TETRA Technologies, Inc.
Hindustan Salts Limited
Honeywell International
Perekop Bromine
Growth drivers and Market Value:
This report, from Stratview Research, studies the Bromine Market value and growth drivers over the trend period of 2022-27. According to the report -
Bromine market is likely to witness an impressive CAGR of 5.8% during the forecast period. The major factor driving the market is the growing demand for bromine in flame retardants, mercury emission control, water treatment, and oil & gas drilling applications.
Segment Analysis:
Based on Application Type:
Based on the application type, the market is segmented as flame retardants, water treatment, mercury emission control, oil & gas drilling, HBR flow batteries, Pta synthesis, pesticides, plasma etching, pharmaceuticals, and others. The flame retardants segment dominates the market, as the demand for bromine compounds as flame retardants has significantly increased due to their extensive use in domestic and industrial applications. Despite increasing regulations on some of the bromine-based flame retardants, the segment still dominates the market, due to its effective fire controlling properties. Few examples of flame-retardant chemicals that are made using bromine are polybrominated diphenyl ether, polybrominated biphenyl, decabromodiphenyl ether, hexabromocyclododecane, and tetrabromobisphenol.
Based on Region:
In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest-growing market for bromine during the forecast period, with China, Japan, and India being the major countries with lucrative growth opportunities. One of the major drivers of the Asia-Pacific’s bromine market is the growing automotive and construction industries in the region and their increasing consumption of bromine. China is expected to drive the region’s market due to increased dependence on imports to meet its domestic requirements, post the ban of bromine and its related compounds into the country. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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