The bromine market is growing, driven by diverse applications and government support for modern agriculture. The report forecasts trends from 2021 to 2026.
According to IMARC Group latest report titled” Bromine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market is currently witnessing strong growth. The Global Bromine Market to exhibit moderate growth during the next five years. Bromine refers to the chemical element found naturally in Earth’s crusts and extracted with the help of electrolysis. It is soluble in water and has a deep red color and a pungent odor. Bromine is widely utilized to make organobromine compounds, which find extensive applications in manufacturing halon fire extinguishers that prevent fire breakouts in museums, airports, tanks, etc. Bromine is also widely used in film photography, surface cleaning of printed circuits, disinfecting swimming pools and industrial cooling water, etc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Trends:
The rising food insecurity concerns and decreasing arable land availability are primarily driving the use of bromine to improve crop yields while catering to the nutritional requirements. Besides this, the government bodies of numerous countries are encouraging the adoption of modern agricultural practices that involve long-term storage of products, including grains, cotton, fresh fruit, vegetables, etc., which is further propelling the product demand. Moreover, the increasing need to control pests from degrading products stored for extended periods is also catalyzing the utilization of bromine. Apart from this, the expanding food and beverage (F&B) industry is further bolstering the usage of bromine as an emulsifier in beverages, which is augmenting the global market. Additionally, the growing product applications in manufacturing fumigants, dyestuffs, textiles, water purification compounds, chemical intermediates, etc., are expected to bolster the bromine market in the coming years.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
Bromine Market Segmentation:
Our report has categorized the market based on region, derivative, application and end user.
Breakup by Derivative:
Breakup by Application:
Breakup by End User:
Breakup by Region:
Key highlights of the report:
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The article discusses the global bromine market trends, growth, and forecast from 2021 to 2026.
Bromine is used in fire extinguishers, photography, agriculture, and as an emulsifier in beverages.
Demand is driven by applications in agriculture, food and beverage industry, and government support for modern practices.
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