Regardless of a company’s size or income, the most recent research study offers an exhaustive analysis of the United States Bromine market for 2023–2032. This survey study discusses the key market trends and the industry’s outlook for the forecast years.
Global United States Bromine Market presents a variety of new trends that have a significant impact on market growth dynamics as well as the most recent industry knowledge. According to the most recent projection, global growth will reach its lowest point this year at 2.8% before edging up to 3.0% in 2024. Although more slowly than expected, the rate of global inflation will drop from 8.7% in 2022 to 7.0% this year and 4.9% by 2024. Notably, growth rates for emerging markets and developing economies have increased significantly in many cases, from 2.8 percent in 2022 to 4.5% this year.
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.
Request To Download Free Sample of This Strategic Report @https://reportocean.com/industry-verticals/sample-request?report_id=BWCC253
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.
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® 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.
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)
Table of Content
Chapter 1: Global United States Bromine Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global United States Bromine market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global United States Bromine Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global United States Bromine market Size Forecast (2023-2032).
About Report Ocean:
Report Ocean is a renowned provider of market research reports, offering high-quality insights to clients in various industries. Their goal is to assist clients in achieving their top line and bottom line objectives, thereby enhancing their market share in today’s competitive environment. As a trusted source for innovative market research reports, Report Ocean serves as a comprehensive solution for individuals, organizations, and industries seeking valuable market intelligence.