Transparency Market Research

Bromine Market to Become Worth US $2.674 Bn by 2025

 

Albany, NY -- (SBWIRE) -- 10/03/2018 -- The analysts of a fresh business intelligence study by Transparency Market Research (TMR) have detected that the global bromine market is moderately consolidated in nature, with a small pool of players holding major shares. The report identifies Gulf Resources Inc., Israel Chemical Ltd. (ICL), Jordan Bromine Company Limited, and Albemarle Corporation as some of the notable players who are currently ahead of the curve in the global bromine market. This position of strength of the aforementioned companies is a reflection of their strong manufacturing capabilities as well as presence in various geographical regions.

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These well established players, on the back of their technological resources and financial might, are also indulging on the research and development of innovative products as well as price them competitively to counter their rivals. Chemtura, Tosoh, Honeywell International, Hindustan Salts, TETRA Technologies, and MORRE-TEC Industries are some of the other key players worth a mention in the global bromine market.

Global Bromine Market to be worth US$2.67 bn by 2025

If the projections of the TMR report are to be believed, the demand in the global bromine market will expand at a formidable CAGR of 5.0% during the forecast period of 2017 to 2025. The analysts of the report have evaluated that the opportunities in the global bromine market translated into a revenue of US$1.74 bn in 2016 and have estimated it to swell up to US$2.674 mn by the end of 2025. To provide a few examples of what products are being offered by the leading vendors, Israel Chemical Ltd. or ICL produces various types of bromine products that range from drilling retardants and flame retardants to effluent control and energy storage solutions. On the other hand, Gulf Resources is one of the leading bromine producer and distributor in China.

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Application-wise, the TMR report has segmented the bromine market into drilling fluids, catalysts, flame retardants, water treatment, and biocides, and highlighted flame retardants as the segment that is providing for the maximum demand. By the end of 2025, the flame retardants segment is poised to account for 32.6% of the total demand. Geographically, Asia Pacific has been detected as the most profitable region, driven by the manufacturing hub of a country in China. The Asia Pacific bromine market provided for nearly half of the total demand in 2016.