BROMINE DERIVATIVES MARKET ANALYSIS

Market Challenges And Opportunities

Drivers

• Growing demand for bromine derivative from automotive and consumer electronics industries

Growing demand for bromine derivative from automotive and consumer electronics industries is expected to fuel the market growth of bromine derivatives. Bromine derivatives are used in the production of flame retardant electronic products in the automotive industry. Moreover, the rising application of bromine derivative from the oil and gas industry in the drilling of fluid for extracting petroleum product is further expected to fuel the market growth of bromine derivatives over the forecast period. Additionally, growing number of manufacturing industries, especially in India and China, are further projected to propel the market growth.

• Rising demand for plastic and rubber products

Growing construction is used in the Roofing, insulation, wall coverings, windows, piping, decks, and fences, is projected to fuel market growth. Moreover, rising demand for plastic and rubber products is also projected to fuel the market growth of bromine derivative. Furthermore, the increasing application of bromine derivative in the textile industry coupled with the significant increase the urbanization is further projected to augment the market growth of the bromine derivative.

Market Restraints

• Rising usage of non-halogenated flame retardants is banned

Rising usage of non-halogenated flame retardants as bromine flame retardant is banned across most of the regions such as Europe and North America, due to their neurodevelopmental toxicity, thyroid effects, and other side-effects on human health. Therefore, rising concerns over halogenated flame retardants are projected to hamper the market growth of bromine derivative over the forecast period. For instance, in February 2019, The EU banned exports of four brominated flame retardants and three other substances, under amendments made to legislation controlling the trade of very hazardous chemicals. This is expected to hinder the market growth of bromine derivative.

• increasing usage of magnesium hydroxide in brominated flame retardants

Moreover, increasing usage of magnesium hydroxide in brominated flame retardants as it exhibits the same properties and benefits as brominated flame retardants are further expected to inhibit the market growth over the forecast period. Also, in some regions phosphorus-based flame retardant such as red phosphorus is widely used non-halogenated flame retardants due to mechanical and electrical properties similar to halogenated flame retardants. This is expected to hinder the market growth over the forecast period.