Boston, MA -- (SBWIRE) -- 05/01/2014 -- Bromine & Its Derivatives Market by Derivatives (Organobromines, Clear Brine Fluids, And Hydrogen Bromide), Application (Flame Retardants, Oil & Gas Drilling, Biocides, Medicinal, Hbr Flow Battery, Plasma Etching, PTA Synthesis) & Geography - Global Trends & Forecasts 2018
The report on bromine & its derivatives captures its global market by volume and revenue. The global market for bromine & its derivatives is growing at a rapid pace in Asia-Pacific, and ROW regions. The demand for bromine & its derivatives is driven by end-user industries such as oil & gas, textile, electronics, automotive, water treatment, agricultural, furnishing, shipbuilding, pharmaceutical, and construction. Currently, the market for bromine & its derivatives is increasing owing to the following factors:
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- Strict environmental policies and favourable regulations encouraging the use of bromine & its derivatives in coal fired power plants to reduce mercury elements
- Increasing consumption of brine fluids due to increasing demand and production of oil & gas
- Increasing demand for biocides in agricultural and water treatment industry
About the market
The global market for bromine & its derivatives has grown significantly during the last few years, and it is expected to grow at a rapid pace in the next five years, mainly driven by a growing consumption in the Asia-Pacific region.
Currently, Asia-Pacific is the largest market for bromine followed by North America, ROW, and Europe. In addition, Asia-Pacific is currently the largest importer of bromine. Asia-Pacific is the fastest growing market for bromine & its derivatives across the world. It is expected to grow at a CAGR of 3.27% in the next five years. ROW is the second fastest growing market for bromine & its derivatives followed by Europe and North America. It was observed that manufacturers prefer to establish manufacturing facilities in proximity of raw material source; thus, securing an uninterrupted supply of raw materials.
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