Global Bromine Market
Bromine Market Size And Forecast
According to Verified Market Research, the Global Bromine Market was valued at USD 2.98 Billion in 2018 and is projected to reach USD 4.47 Billion by 2026, growing at a CAGR of 5.2% from 2019 to 2026.
Global Bromine Market Outlook
The demand for global bromine market is anticipated to show considerable growth due to its increased demand in several applications such as flame retardants, biocides, PTA synthesis, oil & gas drilling, and plasma etching. For instance, in September 2019, Israel Chemicals Ltd., announced that it plans to expand its bromine compounds capacity to approximately 25,000 metric tons annually. Moreover, the growth of bromine consumption by several industries such as textile industry, cosmetic industry, pharmaceuticals and Agro-Fumigants is also expected to fuel the market growth. On the other hand, increasing environmental concerns resulting from water and soil pollution due to bromine is a key factor that might hinder the market growth. Moreover, emergence of non-halogenated flame retardants, toxicological effects of brominated compounds, and fluctuating oil and gas prices in the recent past are major factors limiting the growth of global bromine market.
Global Bromine Market Competitive Landscape
The Global Bromine Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as Albemarle Corporation, Israel Chemicals Ltd., Tata Chemicals Limited, Tosoh Corporation, LANXESS Corporation, TETRA Technologies, Inc., Honeywell International Inc., Perekop Bromine, Hindustan Salts Limited, and Gulf Resources Inc.
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