Overview and Scope
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.
Sizing and Forecast
The bromine derivatives market size has grown strongly in recent years. It will grow from $4.85 billion in 2023 to $5.12 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to shift towards halogenated chemical, demand in electronics and construction, agricultural and veterinary applications, chemical manufacturing, flame retardant demand..
The bromine derivatives market size is expected to see strong growth in the next few years. It will grow to $6.55 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to focus on environmentally friendly solutions, shift towards halogenated chemicals, agriculture and veterinary applications, oil & gas industry expansion, water treatment needs.. Major trends in the forecast period include growing demand in flame retardants, water treatment application, health and safety regulations, expansion in oil & gas drilling, pharmaceutical and chemical manufacturing..
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Segmentation & Regional Insights
The bromine derivatives market covered in this report is segmented –
1) By Derivative: Sodium Bromide, Calcium Bromide, Zinc Bromide, TBBPA, DPDPE, Other Derivatives
2) By Application: Flame Retardants, Safety Apparel, Organic Intermediates, Oil and Gas Drilling, Biocides, PTA Synthesis, Other Applications
3) By End Use: Chemical, Construction, Oil and Gas, Pharmaceuticals, Electronics, Other End Users
Asia-Pacific was the largest region in the bromine derivatives market in 2023 and is expected to be the fastest-growing region in the bromine derivatives market during the forecast period. The regions covered in the bromine derivatives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
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 utilized 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.
Key Industry Players
Major companies in the bromine derivatives market are focused on strategic collaboration with major manufacturing companies to strengthen their position in the market. Strategic collaborations empower companies to forge alliances with other firms possessing the necessary expertise to transform their envisioned concepts into tangible realities. For instance, in June 2022, Intech Organics Limited (IOL), an India-based specialized bromine-based chemicals manufacturing company, announced a strategic collaboration agreement with Abu Dhabi National Oil Company (ADNOC), a UAE-based state-owned oil company, to explore potential opportunities in the manufacturing of calcium and sodium bromide in the UAE. This partnership is for the development of new capacities for the production of bromine and its derivatives in the United Arab Emirates. Through this collaboration, IOL and ADNOC will be able to capitalize on the rising demand for essential industrial raw materials.
The bromine derivatives market report table of contents includes:
1. Executive Summary
2. Bromine Derivatives Market Characteristics
3. Bromine Derivatives Market Trends And Strategies
4. Bromine Derivatives Market – Macro Economic Scenario
5. Global Bromine Derivatives Market Size and Growth
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31. Global Bromine Derivatives Market Competitive Benchmarking
32. Global Bromine Derivatives Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Bromine Derivatives Market
34. Bromine Derivatives Market Future Outlook and Potential Analysis
35. Appendix
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