Published by mark itwired
Posted on October 11, 2021
As per the latest study conducted by FMI, the global bromine market is estimated to reach US$ 2.4 billion in 2021. In response to the increasing application across industries such as oil & gas, chemical, electronics, and others, the market is projected to expand at a CAGR of 2.7% over the forecast period 2021-2031 in comparison to 1.5% CAGR registered between 2016 and 2031.
Sales of bromine are expected to showcase year-on-year increase of 3.2% in 2021, owing to the increasing use of bromine in water treatment, flame retardants, oil and gas drilling, and flow batteries among others. In addition to this, increasing demand from automotive and pharmaceutical sectors will accelerate the bromine sales.
Increasing number of fire accidents across the world has created a high demand for materials having fire-retarding properties. According to the National Fire Protection Association (NFPA), approximately 481,500 structure fires were reported in the U.S., causing property damages of worth US$ 12.3 billion in 2019. As bromine compounds possess high fire resistant properties, they are extensively used in flame retardants, which will continue driving the sales of bromine through the course of the report’s assessment period.
The flame retardant segment is expected to remain the most remunerative category in terms of application. Increasing usage of brominated flame retardants in everyday commodities such as rubber, textiles, washing machine, computers, televisions, and others to reduce their flammability is favoring the segment growth.
“Due to the decline in availability of underground brines, leading manufacturers are adopting strategies such as smart procurement of bromine and its derivatives in order to secure their margins and maintain their production capacity,” says the FMI analyst.
Request a report sample to gain comprehensive insights at https://www.futuremarketinsights.com/reports/sample/rep-gb-658
Key Takeaways from FMI’s Bromine Market Study
Key Drivers
Key Restraints
Discover more about the bromine market analysis with figures and data tables, along with the table of contents. Request Methodology@ https://www.futuremarketinsights.com/ask-question/rep-gb-658
Competitive Landscape
As per FMI, The top five players in the global bromine market are Albemarle Corporation, Israel Chemical Ltd., Jordan Bromine Company Limited, Lanxess AG, and Tosoh Corporation. These players are estimated to hold nearly 85.5% of the overall market.
Leading players are adopting various growth strategies such as setting up new manufacturing plants, mergers and acquisitions, advanced product development, and partnerships to maintain their leading in this fragmented landscape. For instance,
Some of the key players in the bromine market profiled by FMI are:
More Insights on the Bromine Market Survey
The latest market study on the bromine market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global bromine market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
By Derivative:
By Application:
By End Use:
By Region:
Key Questions Covered in Bromine Market Report
Explore FMI’s Extensive Coverage on Chemicals and materials Domain
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The post Bromine Market 2021 Key Players, SWOT Analysis, Key Indicators and Forecast to 2025 appeared first on Industry News Analsis.
As per the latest study conducted by FMI, the global bromine market is estimated to reach US$ 2.4 billion in 2021. In response to the increasing application across industries such as oil & gas, chemical, electronics, and others, the market is projected to expand at a CAGR of 2.7% over the forecast period 2021-2031 in comparison to 1.5% CAGR registered between 2016 and 2031.
Sales of bromine are expected to showcase year-on-year increase of 3.2% in 2021, owing to the increasing use of bromine in water treatment, flame retardants, oil and gas drilling, and flow batteries among others. In addition to this, increasing demand from automotive and pharmaceutical sectors will accelerate the bromine sales.
Increasing number of fire accidents across the world has created a high demand for materials having fire-retarding properties. According to the National Fire Protection Association (NFPA), approximately 481,500 structure fires were reported in the U.S., causing property damages of worth US$ 12.3 billion in 2019. As bromine compounds possess high fire resistant properties, they are extensively used in flame retardants, which will continue driving the sales of bromine through the course of the report’s assessment period.
The flame retardant segment is expected to remain the most remunerative category in terms of application. Increasing usage of brominated flame retardants in everyday commodities such as rubber, textiles, washing machine, computers, televisions, and others to reduce their flammability is favoring the segment growth.
“Due to the decline in availability of underground brines, leading manufacturers are adopting strategies such as smart procurement of bromine and its derivatives in order to secure their margins and maintain their production capacity,” says the FMI analyst.
Request a report sample to gain comprehensive insights at https://www.futuremarketinsights.com/reports/sample/rep-gb-658
Key Takeaways from FMI’s Bromine Market Study
Key Drivers
Key Restraints
Discover more about the bromine market analysis with figures and data tables, along with the table of contents. Request Methodology@ https://www.futuremarketinsights.com/ask-question/rep-gb-658
Competitive Landscape
As per FMI, The top five players in the global bromine market are Albemarle Corporation, Israel Chemical Ltd., Jordan Bromine Company Limited, Lanxess AG, and Tosoh Corporation. These players are estimated to hold nearly 85.5% of the overall market.
Leading players are adopting various growth strategies such as setting up new manufacturing plants, mergers and acquisitions, advanced product development, and partnerships to maintain their leading in this fragmented landscape. For instance,
Some of the key players in the bromine market profiled by FMI are:
More Insights on the Bromine Market Survey
The latest market study on the bromine market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global bromine market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
By Derivative:
By Application:
By End Use:
By Region:
Key Questions Covered in Bromine Market Report
Explore FMI’s Extensive Coverage on Chemicals and materials Domain
Hydro fluorocarbon market: The global hydro fluorocarbon market report by FMI gives an in-depth insight on the future expansion prospects, trends and challenges that market is likely to face in the upcoming decade. Key statistics regarding key segments have been presented across prominent geographies, along with a detailed assessment of the market’s competitive landscape.
Hydrotalcite market: The hydrotalcite market study published by FMI offers a comprehensive analysis and focused views on major trends expected to provide shape to future growth prospects. The report provides detailed analysis of the significant drivers, trends, challenges and opportunities prevailing for the forthcoming decade across key geographies along with competitive landscape of the upcoming decade.
Hydroxyapatite market: Future Market Insights gives a detailed segmentation on the global hydroxyapatite market with upcoming market trends, challenges and future growth dynamics across key geographies and prominent segments. The report provides a holistic approach, mapping the competitive landscape with detailed analysis on established players, new entrants, and opportunities likely to prevail across the 2021-2031 decade.
The post Bromine Market 2021 Key Players, SWOT Analysis, Key Indicators and Forecast to 2025 appeared first on Industry News Analsis.
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