BROMINE MARKET ANALYSIS

Bromine MarketSize and Trends

Global bromine market is expected to reach US$ 5.12 Bn by 2031, from US$ 3.76 Bn in 2023, exhibiting a compound annual growth rate (CAGR) of 4.5% during the forecast period. Bromine is a naturally occurring chemical element that is primarily used as a catalyst and synthesizing agent for the production of various products like disinfectant, flame retardants, photographic chemicals, and water disinfectant. Automotive, agriculture, and electronics are some of the major end-use industries of bromine.

Global Bromine Market Trends:

Rising preference for bromine over chlorine: The preference for bromine over chlorine is having a significant effect on the market. There is a growing concern about the use of chlorine in certain applications due to its environmental and health impacts. Chlorine is known to produce harmful by-products like dioxins when it reacts with organic materials. Many countries and organizations are restricting the use of chlorine in applications like water treatment.

As a result, industries that traditionally used chlorine are switching to alternative chemicals like bromine. For example, the bromine-based biocides are increasingly becoming popular substitutes for chlorine-based products in applications like managing algal blooms and biofouling in industrial water systems. Their effectiveness, even at low concentrations, and minimal impact on the environment make them attractive alternatives. This shift towards more sustainable bromine products is clearly visible in industries like flame retardants and mercury emission control as well. The mercury control market that was dominated by activated carbon is now shifting towards bromine-based technologies to control mercury emissions from coal-fired power plants.

Increasing mergers and acquisition (M&A) activities: The market has been witnessing increasing mergers and acquisition activities in recent years, which hints towards promising opportunities going forward. More companies are consolidating their operations to gain access to diverse product portfolios, additional resources, and expand their geographical footprint. For instance, in 2022, Israel Chemicals acquired the remaining 49% of shares in Dead Sea Bromine Company, the sole authorized producer and marketer of elemental bromine in Israel. This merger strengthened Israel Chemicals' leadership position in the bromine value chain.

Global Bromine Market Trends: