Bromine Market by Derivative (Organobromine, Clear Brine Fluids, Hydrogen Bromide), Application (Flame Retardants, Water Treatment, HBr Flow Batteries, Mercury Emission Control, PTa Synthesis), & Geography - Global Forecast to 2024

Published by MarketsandMarkets on 14th November 2019 | Ref: 1463970 | This Product Is In Stock

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$10000 | Enterprise License

Introduction

The bromine market is projected to grow from USD 3.3 billion in 2019 to USD 4.4 billion by 2024, at a CAGR of 5.8% from 2019 to 2024. The increasing demand for bromine in flame retardants, mercury emission control, water treatment, and oil & gas drilling is expected to drive the bromine market.

Israel Chemicals Limited (Israel), Albemarle Corporation (US), LANXESS Corporation (Germany), Tosoh Corporation (Japan), Tata Chemicals Limited (India), Gulf Resources Inc. (China), TETRA Technologies, Inc. (US), Hindustan Salts Limited (India), Honeywell International Inc. (US), and Perekop Bromine (Republic of Crimea) are some of the leading players operating in the bromine market. These players have adopted the strategies of expansion, new product development, partnership, and collaboration to enhance their position in the market.

In line with the rising demand for bromine, in September 2019, Israel Chemicals Ltd. announced that it plans to expand its bromine compounds capacity to approximately 25,000 metric tons annually. The company will invest approximately USD 50 million for this expansion and is expecting a return of USD 110 million. This expansion comes amidst the company’s strategic agreements signed with many customers from Asia.

LANXESS Corporation, in July 2019, announced the completion of its plant expansion of Emerald Innovation 3000. The debottlenecking project increases the sustainable output from 10,000 to 14,000 MT per year. Emerald Innovation 3000 is now being used as a flame retardant for expanded (EPS) and extruded (XPS) polystyrene instead of hexabromocyclododecane (HBCD), which has been banned. This product is manufactured via the bromination of an alternating polystyrene butadiene copolymer.

LANXESS Corporation, in December 2018, announced its plan to invest EUR 200 million over the next three years, i.e., till 2021, to strengthen its global asset base for flame retardant additives. The company has significantly expanded its market position for flame retardant additives after integrating the former Chemtura businesses with brominated flame-retardant additives, bromine, and bromine derivatives. Due to their high effectiveness as flame retardants, these substances are used in the construction industry. They also complement the already existing LANXESS business of phosphorus-based flame-retardant additives.

Table of Contents

TABLE OF CONTENTS

1 INTRODUCTION 17

1.1 OBJECTIVES OF THE STUDY 17

1.2 MARKET DEFINITION 17

1.3 MARKET SCOPE 18

1.4 CURRENCY 19

1.5 PACKAGE SIZE 19

1.6 LIMITATIONS 19

1.7 STAKEHOLDERS 19

2 RESEARCH METHODOLOGY 20

2.1 MARKET DEFINITION AND SCOPE 20

2.2 BASE NUMBER CALCULATION 20

2.3 FORECAST NUMBER CALCULATION 21

2.4 MARKET ENGINEERING PROCESS 21

2.5 RESEARCH DATA 23

2.6 RESEARCH ASSUMPTIONS 26

3 EXECUTIVE SUMMARY 27

4 PREMIUM INSIGHTS 31

4.1 ATTRACTIVE OPPORTUNITIES IN BROMINE MARKET 31

4.2 BROMINE MARKET, BY DERIVATIVE 31

4.3 BROMINE MARKET IN ASIA PACIFIC, BY APPLICATION AND COUNTRY 32

4.4 BROMINE MARKET: MAJOR COUNTRIES 32

5 MARKET OVERVIEW 33

5.1 INTRODUCTION 34

5.2 MARKET DYNAMICS 34

5.3 PORTER’S FIVE FORCES ANALYSIS 38

5.4 MACROECONOMIC OVERVIEW AND TRENDS 41

6 BROMINE MARKET, BY DERIVATIVE 44

6.1 INTRODUCTION 45

6.2 ORGANOBROMINE 46

6.3 CLEAR BRINE FLUIDS 47

6.4 HYDROGEN BROMIDE (HBR) 48

7 BROMINE MARKET, BY APPLICATION 50

7.1 INTRODUCTION 51

7.2 FLAME RETARDANTS 52

7.3 WATER TREATMENT 53

7.4 MERCURY EMISSION CONTROL 54

7.5 OIL & GAS DRILLING 55

7.6 HBR FLOW BATTERIES 56

7.7 PTA SYNTHESIS 57

7.8 PESTICIDES 57

7.9 PLASMA ETCHING 58

7.10 PHARMACEUTICALS 59

7.11 OTHERS 60

8 BROMINE MARKET, BY REGION 61

8.1 INTRODUCTION 62

8.2 ASIA PACIFIC 65

8.3 NORTH AMERICA 77

8.4 WESTERN EUROPE 85

8.5 CENTRAL & EASTERN EUROPE 95

8.6 MIDDLE EAST & AFRICA 102

8.7 SOUTH AMERICA 104

9 COMPETITIVE LANDSCAPE 110

9.1 INTRODUCTION 110

9.2 COMPETITIVE LEADERSHIP MAPPING 110

9.3 COMPETITIVE BENCHMARKING 112

9.4 MARKET RANKING OF KEY PLAYERS 114

10 COMPANY PROFILES 116

(Business Overview, Products Offered, Swot Analysis, and Mnm View)*

10.1 ISRAEL CHEMICALS LTD. 116

10.2 ALBEMARLE CORPORATION 120

10.3 LANXESS CORPORATION 123

10.4 TOSOH CORPORATION 127

10.5 TETRA TECHNOLOGIES, INC. 129

10.6 GULF RESOURCES INC. 131

10.7 TATA CHEMICALS LIMITED 133

10.8 HINDUSTAN SALTS LIMITED 135

10.9 HONEYWELL INTERNATIONAL INC. 137

10.10 PEREKOP BROMINE 139

10.11 ADDITIONAL COMPANY PROFILES 140

*Details on Business Overview, Products Offered, Swot Analysis, and Mnm View might not be captured in case of unlisted companies.

11 APPENDIX 144

11.1 INSIGHTS OF INDUSTRY EXPERTS 144

11.2 DISCUSSION GUIDE 145

11.3 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL 149

11.4 AVAILABLE CUSTOMIZATIONS 151

11.5 RELATED REPORTS 152

11.6 AUTHOR DETAILS 153

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MarketsandMarkets

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1463970 | CH 2363

Number of Pages

154

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PDF

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