Dublin, April 14, 2023 (GLOBE NEWSWIRE) -- The "US Bromine Market, By Application, By Derivative, Estimation & Forecast, 2017-2026" report has been added to ResearchAndMarkets.com's offering.
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.
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.
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.
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.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 90 |
| Forecast Period | 2021 - 2026 |
| Estimated Market Value (USD) in 2021 | $631.6 Million |
| Forecasted Market Value (USD) by 2026 | $788.3 Million |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | United States |
The US bromine market report provides insights on the below pointers:
- Market Penetration: Provides comprehensive information on the market offered by the prominent players
- Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
- Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the US bromine market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players
- Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
- Pricing Analysis: Pricing analysis of various metals and other components used in the manufacturing
- Manufacturing Cost Analysis: Cost-share of various components
- Ecosystem Analysis
- Bromine Production by U.S and Other Countries (2018 - 2019)
- Technology Lifecycle
- Global vs United States Bromine Market
- Production Estimates
- Production Estimates
- Pricing Analysis
- U.S Bromine Market Size and Forecast, 2020-2026 (US$ Mn)
- U.S. vs China
- U.S. vs Israel
- U.S. vs Jordan
- Bromine Buyers Analysis
- Application of Bromine in End Use Industries
A selection of companies mentioned in this report includes
- Mil-Spec Industries
- Albemarle Corporation
- Lanxessa AG
- BariteWorld
- Unibromo USA
- Tetra Technologies
For more information about this report visit https://www.researchandmarkets.com/r/drq435
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