The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The increase in demand for bromine in oil and gas drilling are expected to drive innovation in bromine manufacturing, thus driving the market during the forecast period.

The global bromine market is expected to grow from $4.36 billion in 2022 to $4.81 billion in 2023 at a compound annual growth rate (CAGR) of 10.5%. The bromine market size is expected to grow to $6.63 billion in 2027 at a CAGR of 8.3%.

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Global Bromine Market Segments Include:

• By Derivative: Organobromine, Clear Brine Fluids, Hydrogen Bromide
• By Application: Biocides, Flame Retardants (FR), Bromine-Based Batteries, Clear Brine Fluids (CBF), Other Applications
• By End User: Oil and Gas, Automotive, Agriculture, Pharmaceuticals, Cosmetics, Textiles, and Other End Users
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global bromine market in 2021.

Major Market Players in the bromine market include ICL Group Limited, Albemarle Corporation, LANXESS AG, Tosoh Corporation, TATA Chemicals Ltd., Gulf Resources Inc., Solaris Chemtech, Honeywell International Inc.

Strategic partnerships and collaborations have emerged as a trend gaining popularity in the bromine market. Major companies operating in the bromine sector are focused on partnerships and collaborations in order to expand their operations into new areas and become industry leaders. For instance, in February 2021, W. R. Grace and Company, a US-based chemical company, acquired Albemarle Corporation for $570 million. This acquisition significantly steps up W. R. Grace and the company’s modest footprint in the pharmaceutical services industry. Albemarle Corporation is a US-based chemical manufacturing company that specializes in bromine, refining catalysts, lithium, and applied surface treatments.

The Bromine Global Market Report 2023  provides a bromine market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The bromine market forecast analyzes bromine market size, bromine market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Bromine is a chemical element with a deep red colour and is a toxic liquid with an irritating and offensive odor. Bromine is used in making dyes, fumigants, flameproofing agents, sanitizers, water purification compounds, agents for photography, vegetable oil, and as an emulsifier in citrus-flavored soft drinks. It is also used as a disinfectant for surfaces due to its damaging effects on microorganisms.

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