The global bromine market is expected to record a CAGR of over 4.92% during the forecast period 2019

New York, Oct. 11, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Bromine Market - Growth, Trends, and Forecast (2019 - 2024)" - https://www.reportlinker.com/p05821474/?utm_source=GNW

- The shift towards energy storage is likely to act as an opportunity in the future.
- In 2018, Asia-Pacific dominated the market studied with about 50% of the total volume of the market studied.

Key Market Trends
Increasing Demand for Flame Retardants

- Flame retardants account for the largest share in the global bromine market. Despite, increasing regulations and ban on some of the bromine-based flame retardants, this segment is still dominating the market, owing to the effective characteristics of bromine in controlling the fire.
- Polybrominated diphenyl ether, polybrominated biphenyl, decabromodiphenyl ether, hexabromocyclododecane, and tetrabromobisphenol are few of the examples of flame-retardant chemicals that are made using bromine.
- There are around 80 different types of brominated flame retardants (BFRs), which have widely varying chemical properties, and are available in the market. Some of these types include brominated bisphenols, diphenyl ethers, cyclododecanes, bisphenyls, phenols, phenoxy ethanes, and phthalic acid derivatives.
- BFRs are commonly used to prevent fires in electronics and electrical equipment, which accounts for more than 50% of their applications. For instance, these flame retardants are extensively used in the outer housings of TV sets and computer monitors, as the internal circuitry of such devices can heat up, and over time, collect dust. Short circuits and electrical or electronic malfunctions can occur.
- In addition, BFRs are used in wire and cable compounds, for example, for use in buildings and vehicles and other building materials, such as insulation foams. They are also used in specialty fabric back-coatings for curtains, seating, and furniture, in transport and public buildings and domestic upholstered furniture.
- Synergistic agents, such as antimony oxides, further increase the effectiveness of both brominated and chlorinated flame retardants, by enabling the halogen to stay in the flame zone for longer periods.
- Furthermore, other applications include furniture foams, textiles, plastic casing employed in electronics, computers, televisions, fridges, radios, and washing machines.
- Hence, with the increasing demand for flame retardants, the demand for bromine consumption is also expected to increase rapidly, over the forecast period.

Asia-Pacific Region to Dominate the Market

- Asia-Pacific region represented the largest regional market for bromine in 2018. The enormous demand for organobromines is a result of the growing need for Zinc-bromine flow batteries and increase in consumption of flame retardant products in the region.
- China is the fourth-largest producer of bromine, after Israel, Jordan, and the United States. According to the United States Geological Survey (USGS), in 2018, the bromine production in China was about 60,000 metric ton. In 2018, China produced about 12% bromine of global production.
- China has the world’s largest electronics production base. Electronic products, such as smartphones, TVs, wires, cables, etc., recorded the highest growth in the electronics segment. The country serves not only domestic demand for electronics but also exports electronic output to other countries. In China, with the increase in the disposable income of the middle-class population and the rising demand for electronic products countries importing electronic products from China, the production of electronics is projected to grow. With the growing electronics and construction industry, the demand for the bromine-based flame-retardant application is expected to increase.
- According to USGS, in 2018, India produced about 1,700 metric ton of bromine. The country produced about 3% of bromine of global production. Bromine is majorly consumed by flame retardants, bromine-based batteries, clear brine fluids, etc.
- The electronics industry in India is one of the largest and fastest-growing industries in the country. Due to the rising labor costs, several manufacturers are relocating from China to India, to meet the domestic demand. Government initiatives, like Digital India, are stimulating the growth in the electronics manufacturing sector. The main objective of this initiative is to ensure that all the government services are accessible to the citizens electronically.
- All the aforementioned factors, in turn, are expected to increase the demand for bromine in the region over the forecast period.

Competitive Landscape
The global bromine market is highly consolidated with the top three players cumulatively owning a share of over 80% of the market. The bromine market is primarily dominated by players, such as ICL, Albemarle Corporation (including JBC), and LANXESS.

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