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Bromine Derivatives Market Is Projected To Grow In The Coming Years
Bromine Derivatives Market Is Projected To Grow In The Coming Years
Published by Coherent Market Insights
Posted on September 24, 2021
Bromine is a chemical compound with atomic number 35 and a third-lightest halogen compound. It is a fuming red-brown liquid at room temperature and its properties are almost similar to chlorine and iodine. Bromine derivatives are widely used in the controlling mercury emission and halogenated flame retardants. Moreover, bromine derivatives are also used in the manufacturing of rechargeable batteries. Some of the end-use application of bromine derivatives are pharmaceuticals, agriculture, and electronics, along with growing construction.
The global bromine derivatives market was valued at US$ 3,973.7 Mn in 2018 and is expected to reach US$ 5,628.9 Mn by the end of 2027, growing at a CAGR of 4.0% during the forecast period (2019 to 2027).
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Drivers:
Growing demand for bromine derivative from automotive and consumer electronics industries is expected to fuel the market growth of bromine derivatives. Bromine derivatives are used in the production of flame retardant electronic products in the automotive industry. Moreover, the rising application of bromine derivative from the oil and gas industry in the drilling of fluid for extracting petroleum product is further expected to fuel the market growth of bromine derivatives over the forecast period. Additionally, growing number of manufacturing industries, especially in India and China, are further projected to propel the market growth.
Market Opportunities
Growing application of bromine derivative such as Zinc bromide (ZnBr2) which is used in the transparent shield against radiation is projected to propel the market growth of the bromine derivative. Rising demand for Zinc bromide (ZnBr2) from rechargeable batteries is also expected to foster the market growth of the bromine derivative. Furthermore, the growing application of bromine in the production of oxidizing biocides are also expected to augment the market growth over the forecast period.
Market Trends/Key Takeaways
Rising usage of bromine-based oxidizing biocides for cooling towers, swimming pools, sanitary disinfection, and treatment of municipal sewage is expected to augment the market growth over the forecast period. Rising investment by developed countries such as North America is also projected to fuel market growth. For instance, in July 2018, Lanxess announced multiple project expansion plans across the region by 2022, which also includes an investment of USD 60 million in the global bromine reservoir site.
Company Profiles
Israel Chemicals Limited, Albemarle Corporation, Tosoh Corporation, Tata Chemicals Limited, Chemtura Corporation, Jordan Bromine Company, Gulf Resources Inc., Hindustan Salts Limited, and Tetra Technologies Inc.
Hurry Up…and Get a 2000$ Discount On a Price…!!!: https://www.coherentmarketinsights.com/insight/request-discount/2060
Few Recent Developments
- Albemarle Corporation
- In February 2016, the company entered into a long-term supply agreement with Israel Chemicals Limited for the manufacture of polymeric flame retardants
- Israel Chemicals Limited
- In October 2015, the company launched bromine-based battery for energy storage
- In February 2016, ICL collaborated with Albemarle Corporation, a leading global manufacturer of bromine and its compounds. This collaboration offered the company an opportunity to develop next-generation flame retardants.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post Bromine Derivatives Market Is Projected To Grow In The Coming Years appeared first on Gatorledger.
Bromine is a chemical compound with atomic number 35 and a third-lightest halogen compound. It is a fuming red-brown liquid at room temperature and its properties are almost similar to chlorine and iodine. Bromine derivatives are widely used in the controlling mercury emission and halogenated flame retardants. Moreover, bromine derivatives are also used in the manufacturing of rechargeable batteries. Some of the end-use application of bromine derivatives are pharmaceuticals, agriculture, and electronics, along with growing construction.
The global bromine derivatives market was valued at US$ 3,973.7 Mn in 2018 and is expected to reach US$ 5,628.9 Mn by the end of 2027, growing at a CAGR of 4.0% during the forecast period (2019 to 2027).
Get a Sample Copy + All Related Graphs & Charts: https://www.coherentmarketinsights.com/insight/request-sample/2060
Drivers:
Growing demand for bromine derivative from automotive and consumer electronics industries is expected to fuel the market growth of bromine derivatives. Bromine derivatives are used in the production of flame retardant electronic products in the automotive industry. Moreover, the rising application of bromine derivative from the oil and gas industry in the drilling of fluid for extracting petroleum product is further expected to fuel the market growth of bromine derivatives over the forecast period. Additionally, growing number of manufacturing industries, especially in India and China, are further projected to propel the market growth.
Market Opportunities
Growing application of bromine derivative such as Zinc bromide (ZnBr2) which is used in the transparent shield against radiation is projected to propel the market growth of the bromine derivative. Rising demand for Zinc bromide (ZnBr2) from rechargeable batteries is also expected to foster the market growth of the bromine derivative. Furthermore, the growing application of bromine in the production of oxidizing biocides are also expected to augment the market growth over the forecast period.
Market Trends/Key Takeaways
Rising usage of bromine-based oxidizing biocides for cooling towers, swimming pools, sanitary disinfection, and treatment of municipal sewage is expected to augment the market growth over the forecast period. Rising investment by developed countries such as North America is also projected to fuel market growth. For instance, in July 2018, Lanxess announced multiple project expansion plans across the region by 2022, which also includes an investment of USD 60 million in the global bromine reservoir site.
Company Profiles
Israel Chemicals Limited, Albemarle Corporation, Tosoh Corporation, Tata Chemicals Limited, Chemtura Corporation, Jordan Bromine Company, Gulf Resources Inc., Hindustan Salts Limited, and Tetra Technologies Inc.
Hurry Up…and Get a 2000$ Discount On a Price…!!!: https://www.coherentmarketinsights.com/insight/request-discount/2060
Few Recent Developments
- Albemarle Corporation
- In February 2016, the company entered into a long-term supply agreement with Israel Chemicals Limited for the manufacture of polymeric flame retardants
- Israel Chemicals Limited
- In October 2015, the company launched bromine-based battery for energy storage
- In February 2016, ICL collaborated with Albemarle Corporation, a leading global manufacturer of bromine and its compounds. This collaboration offered the company an opportunity to develop next-generation flame retardants.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post Bromine Derivatives Market Is Projected To Grow In The Coming Years appeared first on Gatorledger.
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