Bromine Market Expected to Register Highest CAGR of 4.1% by 2024

Global Market Study on Bromine: Mercury Emission Control and Oil and Gas Drilling to
Emerge as Most Attractive Application Segments Over the Forecast Period 2016 - 2024
PMR projects the global bromine market to witness moderate growth during the forecast period
2016-2024. APAC will continue to remain the largest market for bromine, growing at 4.1% revenue
CAGR during the forecast period.
Global demand for bromine market will reach 483 kilo metric tons (KMT) in 2016, up from 470
KMT in 2015. Demand will be impeded by growing regulation and legislation, especially in the
European Union (EU), where the use of certain brominated flame retardants is banned or restricted.
Flame retardants will continue to remain the largest application segment, accounting for 203 KMT
volume in 2016, a y-o-y increase of 2.8% over 2015. Use of bromine in oil and gas drilling will
continue its upward momentum in 2016, growing at 4.3% in terms of volume – the fastest among
all the application segments.
The chemicals industry will remain the largest consumer of bromine, accounting for 292 KMT
volume in 2016, representing market value worth 1,284 Mn. Use of bromine in the oil and gas
sector will also continue to witness steady growth, as clear brine fluids gain traction for drilling
purposes. Demand will be offset by sluggish adoption in the electronics industry, as use of
brominated flame retardants continues to face stricter regulations. Demand for bromine from
electronics sector will witness a growth rate of 2.1% in 2016 over 2015.
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Asia Pacific will remain the largest market for bromine, representing annual revenues worth US$
1,087 Mn in 2016, up from 895 Mn in 2015. This is primarily due to expansion of end-use
industries such as chemicals, pharmaceuticals, textiles, and electronic in APAC. Latin America will
continue to offer growth opportunities to manufacturers, with global demand witnessing a 2.0%
volume growth in 2016 over 2015. Demand will face constraints in the mature markets of North
America and Western Europe in 2016 as well.
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Israel Chemicals Limited, Chemtura Corporation, Albemarle Corporation, Gulf Resources Inc.,
Tosoh Corporation, Tetra Technologies Inc., Tata Chemicals Limited and Hindustan Salts Limited
are the key players in the market. Top players are continuously focusing on expanding their product
offerings, especially in flame retardants segments. Collaborations and joint ventures are key
business strategies to develop green brominated flame retardants.
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