Bromine Market 2021 Precise Outlook | Market Research Future

The global Bromine Market is likely to grow at a significant CAGR between 2021- 2030, reveals the new Market Research Future (MRFR) report.

Global Bromine Market Overview 2030 -

The global Bromine Market is likely to grow at a significant CAGR between 2021- 2030, reveals the new Market Research Future (MRFR) report. Bromine is mostly used as a reactant and catalyst to produce products such as photographic chemicals, flame retardants, dyes, disinfectants, pharmaceuticals, agrochemicals, biocides, and others. It is a corrosive and highly volatile chemical element which at room temperature, is a fuming red-brown liquid and evaporates readily to form metals in extreme pressures.

On the contrary, strict governmental measures pertaining to the use of brominated flame retardants in electronic equipment and textile, and its toxic properties are factors that may limit the global bromine market growth over the forecast period. This is a halogen that has properties of both iodine and chlorine. Pesticides, water treatment, BHR flow batteries, oil and gas drilling, mercury emission control, flame retardants, and others are some of the key applications of bromine.

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Chemtura Corporation (U.S.), Israel Chemicals Limited (Israel), Albemarle Corporation (U.S.), Tosoh Corporation (Japan), TETRA Technologies, Inc. (U.S.), Hindustan Salts Limited (India), Tata Chemicals Ltd (India), Perekop bromine (Republic of Crimea), Gulf Resources Inc. (China), Honeywell International Inc. (U.S.).and others.

The global Bromine Market has seen potential growth in the last year and is expected to expand significantly in the coming years. Pyridine is a highly flammable, colorless, water-soluble substance made primarily from crude coal tar and other chemicals. The substance is colorless, soluble in water and other organic solvents, odorous, and poisonous in nature. It is not readily available in large amounts in natural form, so it is synthesized from ammonia and acetaldehyde in an efficient and cost-effective manner. Dealkylation of alkylated, chichibabin synthesis, bonnemann cyclization, and hantzsch synthesis are examples of these reactions.

Global Bromine Market is growing with the rapid pace; mainly due to advancement in technologies. According to a recent study report published by the Market Research Future, The global market of Pyridines is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2021 – 2030). 

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Industry/ Innovation/ Related News:

In 2017, GE Company launched a new product PROflex for wide range of application such as general industrial, power, drinking water, food beverage, pharmaceuticals and others. The reverse osmosis was developed to provide cost-effective and easy-to-configure system.

In 2017, Veolia Water Technologies have been given a contract to build an iron removal water treatment plant for providing facility to Senegal’s water utility. This would increase the supply of drinking water to Dakar and its suburbs area.

In 2013, CH2M Hill team chose the Trident HS package treatment system that was offered by WesTech Engineering, Inc. so as to minimize the waste in water.

Bromine Market   - Segments:

The global Bromine Market has been segmented into applications and production methods, according to MRFR research.

The market is divided into pharmaceuticals, food and beverages, agriculture, agrochemicals, and other applications. The chemical is used in the agrochemical industry to make herbicides and pesticides that prevent grass and weed growth on farms. The consumption of product-based chemicals will rise as the world's population grows and arable land becomes scarce. In addition, efforts are being made to increase agricultural yield, which is fueling the pyridine market's growth. It is primarily used to increase the demand for cotton crops.

The production method is divided into two categories: coal and chemical synthesis.

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Industry News:

In 2019, Global speciality chemicals company ICL’s Industrial Production division (ICL-IP) announced its strategic agreements with its Asian customers to expand the capacity of bromine compounds. The agreements will look to increase the production capacity of its TBBA bromine compound by up to 25,000mtpa.

Bromine Market   - Regional Analysis

Based on the region, the bromine market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, the APAC region will spearhead the market over the forecast period and at a healthy CAGR. Factors propelling the bromine market in the region include the growing population, increasing purchasing power especially in developing nations, burgeoning demand for bromine from the oil and gas industry, and the propelling automobile agriculture industry in China and India. 

The bromine market in North America is predicted to have healthy growth over the forecast period for the developed industries in the region, such as pharmaceuticals, automobile, and cosmetics, and growing demand for clear brine fluids. 

The bromine market in Europe will have moderate growth over the forecast period for the presence of a well-established cosmetic and automobile industry. Besides, the developing oil and gas drilling activities in Russia is also adding market growth. 

The bromine market in Latin America is predicted to have significant growth over the forecast period for the demand for consumer electronics, an increase in construction, and oil exploration activities in the region. 

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