BROMINE DERIVATIVES MARKET ANALYSIS

Bromine Derivatives MarketSize and Trends

Global bromine derivatives market was valued at US$ 4,761.9  Mn in 2022 in terms of revenue, exhibiting a CAGR of 5.97% during the forecast period (2023 to 2030).

Figure 1. Global Bromine Derivatives Market Value Share (%), By Region, 2021

Market Trends

Rising usage of bromine-based oxidizing biocides for cooling towers, swimming pools, sanitary disinfection, and treatment of municipal sewage is expected to augment the market growth over the forecast period. Rising investment by developed countries such as North America is also projected to fuel market growth. For instance, in July 2019, Lanxess announced multiple project expansion plans across the region by 2022, which also includes an investment of USD 60 million in the global bromine reservoir site.

Rising usage of bromine derivative in the surface treatment of rubber used for tires along with the growing usage on the formulation for cleaning surface of printed circuits is projected of fuel the market growth of bromine derivative. Also, increasing usage of bromine derivatives such as methyl bromide in the development of fertilizers and pesticides is expected to foster the market growth of bromine derivatives. Therefore, the booming agriculture industry around the globe is projected to augment the market growth of bromine derivatives over the forecast period.

Increasing Usage from the Water Treatment Segment

With the rising need for sustainability, and industries focusing on complete water treatment solutions to increase the recyclability of water, bromine derivatives are expected to grow significantly during the forecast period.

According to UN Data, in 2020, around 56 percent of household wastewater flows were safely treated globally.

Bromine derivatives are used in the preparation of biocides for water treatment. Bromine-based biocides work efficiently at controlling the microbiological load in water systems while ensuring corrosion is kept under check. Stabilized bromine-based biocides are widely used in industrial applications such as cooling towers and pre-treatment processes since they eliminate the need to control pH for efficacy.

One such bromine derivative, dimethyl hydantoin (DBDMH) is being widely used as a disinfectant in recreational water treatment, with limited use in drinking water purification. It is also used as a bleaching agent in the pulp and paper industry. DBDMH is also widely used in treating industrial and commercial water-cooling systems.

The overall growth of the water treatment industry is expected to be a strong driver for the overall demand and consumption of bromine derivatives used in the water treatment application.

Figure 2. Global Bromine Derivatives Market value Share (%), By Product Type, 2021