The “United States Bromine Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The United States Bromine Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The U.S. bromine market was valued at US$ 604 in 2020 and is projected to cross US$ 780 Mn by the end of 2027. Increased applications of flame retardants owing to growing adoption for domestic and commercial use is estimated to have a positive impact on the market. Moreover, excess use of hydrogen bromide is also projected to have a positive impact on the market.
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The U.S. maintained its position as one of the leading bromine producers in the world. China, Israel, and Jordan also are major producers of elemental bromine. In 2019, U.S. net imports of bromine and bromine compounds increased compared with those in 2018.
Increasing adoption of bromine in mercury emission mitigation
Mercury is considered by the World Health Organization as one of the top ten chemicals or groups of chemicals of major public health concern. Despite global decarbonization efforts, more than 40% of the world’s electricity is currently generated by coal power plants which is major source of mercury emission. However, bromine-based technologies have successfully reduced mercury emission by 90% due to which its demand is specifically increasing in this sector of the market. Bromine-based compounds are versatile and can be added at different stages of the combustion process to help capture mercury.
Widespread consumption of bromine in varied applications
Bromine is completely a versatile compound that has varied applications such as oil & gas drilling, flame retardants, pesticides, water treatment, plasma etching, and pharmaceuticals, among others. Thus, due to this versatility it’s in high demand leading to noticeable growth in the near future. Flame retardants has been one of the largest application segments as the demand for fire extinguishers is across the world.
High adoption of bromine as a disinfectant because of the COVID-19 pandemic
In COVID-19 situation most of the businesses have been in difficult situation but bromine market is expected to grow at an exponential growth rate due to increase in demand associated with disinfectants which are manufactured with the help of bromine. Thus, demand for disinfectants from April 2020 has increased swiftly to a level where the market is expected to achieve exponential growth rate and this growth is expected to remain high till end of 2021.
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Increasing adoption of non-halogenated flame retardants
Environmental toxicity is one of major factor due to which growth of bromine-based flame retardants market is expected to decline in another few years. In a few countries non-halogenated flame retardants production has been stopped and an environmental bylaw has been passed against it production. Thus, this factor is expected to restrain the market growth of U.S. bromine market throughout the forecast period.
Competitive Landscape:
Albemarle Corporation, Lanxessa AG, Mil-Spec Industries, BariteWorld, Tetra Technologies, Unibromo USA are few of the major producers and suppliers of the U.S. bromine market.
Recent developments:
- On 2 September 2020: Albemarle Corporation announced the company has been selected by the U.S. Department of Energy (DOE) as a critical partner for two lithium research projects over three years through a Battery Manufacturing Lab Call. Albemarle will work in conjunction with two DOE labs on the company’s approved projects, first with Argonne National Laboratory and second with Pacific Northwest National Laboratory.
- On 2 July 2018: TETRA Technologies, Inc. (NYSE: TTI) and Halliburton (NYSE: HAL), a global oil services company, today announced they entered into a global joint marketing and development agreement for the sale and distribution of TETRA’s proprietary family of TETRA CS Neptune(R) completion fluids. The collaborative agreement also fosters and drives further development of other oil and gas drilling and completion fluids based on their respective technologies and resource capabilities.
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Segmentation:
- By Derivatives
- Organobromine
- Clear Brine Fluids
- Hydrogen Bromide (HBR)
- By Application
- Flame Retardants
- Oil & Gas Drilling
- PTA Synthesis
- Water Treatment
- Mercury Emission Control
- Pesticides
- HBR Flow Batteries
- Plasma Etching
- Pharmaceuticals
- Others (Photography, Chemical Intermediates Synthesis, Adhesive
- Tapes, and Rubbers)
What is the goal of the report?
-The market report presents the estimated size of the market at the end of the forecast -period.
-The report also examines historical and current market sizes.
-During the forecast period, the report analyzes the growth rate, market size, and market valuation.
-The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
-The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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