**Embracing Lucrative Opportunities: The Booming US Bromine Market**
In a recent groundbreaking report, titled “US Bromine Market Analysis and Forecast from 2023 to 2031,” industry experts shed light on the impressive growth trajectory and immense potential of the keyword market. This thriving sector has become a hotspot for savvy investors and stakeholders looking to capitalize on its rapid expansion.
The report leaves no stone unturned in its comprehensive analysis, delving into a wide range of factors that drive the market’s impressive growth. It meticulously segments the market based on Regions, Country, Company, and other key segments, providing invaluable insights for businesses seeking to make informed decisions and gain a competitive edge.
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The US bromine market held a market value of USD 631.6 million in 2021 and is projected to reach USD 788.3 million by the year 2026. The market is anticipated to register a CAGR of 4.5% during the forecast period.
The bromine market in the US is subject to high rise owing to the increased consumption and adoption of bromine in many end use industries. Bromine has been a key component in numerous industries, and with rising awareness the usage of bromine has tremendously increased.
In addition to that, the rising usage of bromine in the field of mercury emission mitigation is also fueling the industry growth. Furthermore, amidst the pandemic outbreak, bromine has been highly used as a disinfectant. This, in turn, causes demand, rising the industry growth.
On the contrary, the rising demand for non-halogenated flame retardants is causing hindrance to the bromine industry to a substantial level. In addition to that, the decrease in the oil and gas production during the pandemic outbreak is also hampering the industry growth.
Growth Influencers:
Increasing adoption of bromine in mercury emission mitigation
National laws, including the United Nations? Minamata Convention, a global treaty to protect human health and the environment from the adverse effects of mercury are effectively urging the public and private entities to enumerate ways to decrease mercury emissions. The consumption of bromine in pollution control installations is one of the means to augment decrease of mercury emissions in a cost-effective manner. Thus, such measures boost the market growth.
Widespread consumption of bromine in varied applications
Bromine has been used in numerous applications in several industries, ranging from pharmaceuticals to batteries. The increased use of bromine as a flame retardant is creating high demand. The rise in awareness created by public associations related to the cautious use of bromine is fueling the market growth. For instance, according to the statistics published by the National Fire Protection Association (NFPA), in 2020, around 1.4 million fire incidents were reported in the US, causing a loss of USD 21.9 billion of property and thousands of lives.
In addition to that, the surging demand for electrical and electronics products has increased the demand for flame retardants. Therefore, such measures fuel the growth rate of the bromine market in the US.
Recycling of Bromine
Bromide solutions can be recycled to generate elemental bromine. Instead of disposing these bromide solutions as hazardous waste, recycling offers a means to reduce this concern. Hydrogen bromide is emitted as a byproduct in many chemical organic reactions. Such byproducts can be reprocessed with virgin bromine brine, which can be used as a source for bromine production.
In addition to that, the bromine present in plastic can also be incinerated as solid organic waste, through which bromine can be recovered.
Segments Overview:
The US bromine market is segmented into application and derivative.
By Application,
? Flame Retardants
? Oil & Gas Drilling
? PTA Synthesis
? Water Treatment
? Mercury Emission Control
? Pesticides
? HBR Flow Batteries
? Plasma Etching
? Pharmaceuticals
? Others
The flame retardants segment is estimated to hold an opportunity of more than USD 70 million during 2021 to 2027. Moreover, the water treatment segment is likely to cross the mark of USD 60 million revenue by 2024. Furthermore, the plasma etching segment is projected to grow at the highest CAGR of 7.4% over the anticipated period.
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By Derivative,
? Organobromine
? Clear Brine Fluids
? Hydrogen Bromide (HBR)
The hydrogen bromide segment is likely to be the fastest growing segment with the growth rate of 5.1% over the forecast period.
Country Overview
The US market for bromine is increasing tremendously owing to the rising growth and adoption of bromine in applications, such as water treatment, flame retardants, pharmaceuticals, pesticides, mercury emission control, and many others. For instance, according to the U.S. Geological Survey, Mineral Commodity Summaries from January 2022, the U.S. apparent consumption of bromine in 2021 was estimated to be greater than that in 2020, thus aligning to high demand and market growth.
Competitive Landscape
The major players operating in the US bromine market include Mil-Spec Industries, Albemarle Corporation, Lanxessa AG, BariteWorld, Unibromo USA, Tetra Technologies, among others.
The key four players in the market hold over 95% of the market share. These market players are capitalizing in collaborations, product launches, mergers, acquisitions, and expansions to sustain a competitive edge in the market. For instance, in June 2021, Albemarle Corporation, a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts, completed the sale of its Fine Chemistry Services business to WR Grace & Co. for nearly USD 570 million.
The US bromine market report provides insights on the below pointers:
? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the US bromine market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
? Pricing Analysis: Pricing analysis of various metals and other components used in the manufacturing
? Manufacturing Cost Analysis: Cost-share of various components
? Ecosystem Analysis
o Bromine Production by U.S. and Other Countries (2018 ? 2019)
o Technology Lifecycle
? Global vs. United States Bromine Market
o Production Estimates
o Production Estimates
o Pricing Analysis
? U.S. Bromine Market Size and Forecast, 2020-2026 (US$ Mn)
o U.S. vs. China
o U.S. vs. Israel
o U.S. vs. Jordan
? Bromine Buyers Analysis
o Application of Bromine in End Use Industries
The US bromine market report answers questions such as:
? What is the market size and forecast of the US bromine market?
? What are the inhibiting factors and impact of COVID-19 on the US bromine market during the assessment period?
? Which are the products/segments/areas to invest in over the assessment period in the US bromine market?
? What is the competitive strategic window for opportunities in the US bromine market?
? What are the technology trends and regulatory frameworks in the US bromine market?
? What is the market share of the leading players in the US bromine market?
? What modes and strategic moves are considered favorable for entering the US bromine market?
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Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Key Reasons to Purchase this Report:
Strategic Direction: This research report provides insightful analysis and strategic advice for senior executives, decision-makers, professionals, sales managers, and other market stakeholders working in this space. It aids in decision-making and offers strategic recommendations for product advancements.
Comprehensive Analysis: Both economic and non-economic aspects are taken into account in the report’s thorough qualitative and quantitative analysis of the market. For a complete knowledge of market dynamics, it contains a segment breakdown with market evaluations expressed in terms of value (USD Billion) for each segment.
Growth Opportunities: The research highlights the geographies and market categories predicted to expand at the highest rates, potentially positioning them to dominate their respective markets. It offers a thorough examination of consumption trends in various geographic areas and highlights the variables affecting regional market trends.
Competitive Landscape: The competitive landscape section lists the top market rivals and discusses current business expansions, collaborations, product launches, and acquisitions. This data makes it easier to evaluate significant players’ market positions.
Detailed Company Profiles: These include their company description, insights, product benchmarking, and SWOT analysis, providing a thorough picture of the major market participants. Stakeholders are able to assess the advantages and disadvantages of the leading market players due to these profiles.
Future Market Outlook: The study presents recent trends, growth prospects, drivers, challenges, and restraints in both emerging and developed regions. It also includes current and future market outlooks. It gives stakeholders knowledge of potential industry trends and aids in their prediction of upcoming market dynamics.
Industry Analysis: Using Porter’s Five Forces Analysis, the research provides a comprehensive analysis of the industry, looking at factors such as the bargaining power of customers and suppliers, rivalry among businesses, the threat of alternative products, and the threat of new entrants. This research helps to comprehend how fiercely the market is competitive.
Value Chain Insights: Through a thorough examination of the value chain, the research offers insightful information about the market. This aids stakeholders in comprehending the main processes and actors involved in the creation and supply of the good or service.
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