Bromine Market demand growth restricted by some of the negative factors. Some of the factors are ban on methyl bromide in pesticide application, owing to the toxic properties. Methyl bromide is considerwed as an ozone depleting agent and is subjected to phase out regulations from various governments. Additionally, brominated flame retardants are being replaced by its alternatives such as aluminium trihydroxide, and magnesium hydroxide. This factor has hampered the global bromine market growth
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Market Scenario and Growth Factors:
Apart from flame retardant application, bromine is been used in wide range of applications. Bromine is also preferablly used in water treatment applications. Increasing regulation pertinent to water treatment is estimated to boost the market demand in various geographies. Conventional bromine applications include, oil & natural gas production, biocides, organic intermediates and others. Along with these applications, growing end-use industries namely personal care, cosmetics and pharmaceuticals is set to boost the bromine market demand over the forecast period. Relatively new bromine applications include, paper making, pesticides, and antibiotics. Growth of such new applications will further fuel the global bromine market demand.
Some of the prominent players operating in the global Bromine Market are:
Israel Chemicals Limited (Israel),
Albemarle Corporation (U.S.),
Chemtura Corporation (U.S.),
Tosoh Corporation (Japan),
Tata Chemicals Ltd (India),
Gulf Resources Inc. (China),
TETRA Technologies, Inc. (U.S.),
Hindustan Salts Limited (India),
Honeywell International Inc. (U.S.),
Perekop bromine (Republic of Crimea).
Bromine producers are concentrated in very few countries. This is attributed to the access to the raw material resources available in few regions. Leading bromine manufacturers are situated in United States & China.
Industry/ Innovation/ Related News:
May 2015: Tosoh Corporation, Japan enetered into an sales agreement with Chemtura to sale it s polymer based brominated flame retardant product in Japan. This news highlights the growing demand of flame retardant in matured markets. Although, brominated flame reteradants are restricted in some of the markets, its demand is growing in major markets.
Jan 2017: Albemarle Corporation has announced the price hike by 5% for its bromine products. The company has raised the price in order to offset increased raw material price. This has underlined the manufacturers struggling to acess consistent and low price supply of raw materials
Based on geography, global market is classified as North America, Europe, Latin America, Asia-Pacific, and Middle East & Africa. Among these regions, Asia Pacific is the largest producer aand consumer of bromine. This is attributed to the higher production and consumption bromine in China. China accounts more than 25% of the global bromine prodction. China also accounts for significant share in global bromine trade. It imports 25% of its bromine consumption. Countries namely, China, Israel, the United States, and japan cumulatively account for more than 95% of the global bromine production. Asia Pacific market is followed by North America, and Europe, respectively.