The bromine market is expected to grow at a CAGR of 2.7% during the forecast period (2020-2027)
Among the various derivative segments of the bromine market, organo nobromide is expected to become the market’s leading segment and is expected to show a significant CAGR over the forecast period. The growing use of organo nobromide as a flame retardant in various end-use industries such as electronics, automotive, oil and gas is expected to contribute to the growth of this sector. Additionally, stringent fire safety regulations around the world are expected to further fuel the segment growth. In addition, the growing demand for organic nobromide as a biocide, especially in the agricultural economy, is another factor driving the growth of this sector. Depending on application, flame retardants are market-leading and are expected to show a CAGR of over 4% over the forecast period. In addition, oil and gas drilling fluids are another major segment of the global market. Growing oil and gas-related activities are expected to surge the segment’s growth. Bromine is widely used as a clear brine in oil and gas drilling processes.
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Bromine Market Segmentation
By application:
• Flame Retardants
• Oil & Gas Drilling
• PTA Synthesis
• Water Treatment & Biocides
• Mercury Emission Control
• Pesticides
• HBr Flow Batteries
• Plasma Etching
• Pharmaceuticals
• Others (Photography, Chemical Intermediates Synthesis, Adhesive Tapes, Rubbers, Fumigant Synthesis and Elastomers)
By derivative:
• Organobromine
• Clear Brine Fluids
• Hydrogen Bromide
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(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
