TAGS: Innovation in Flame Retardants
The bromine market is projected to grow from USD 3.3 billion in 2019 to USD 4.4 billion by 2024, at a CAGR of 5.8% from 2019 to 2024. The market growth is driven by the increasing demand for bromine in flame retardants, mercury emission control, water treatment, and oil & gas drilling.
FR - Largest Share of the Bromine Market
By application, the flame retardants segment accounted for the largest share of the bromine market in 2018. Brominated flame retardants (BFRs) are bromine containing compounds that are added to substances to inhibit or reduce their rate of combustion.
BFRs are more widely used than other commercialized chemical flame retardants. Polybrominated Diphenyl Ethers (PBDEs), Polybrominated Biphenyl (PBB), and Brominated Cyclo-hydrocarbons are some of the examples of BFRs. The growing demand from electronics and automotive industries (due to stringent fire safety regulations) and the expanding shipbuilding industries are driving the market for flame retardants across the globe.
The Organobromine Segment
The organobromine segment accounted for the largest share of the bromine market in 2018.
By derivative, the organobromine segment accounted for the largest share of the bromine market in 2018. Organobromine compounds, such as tetrabromobisphenol-A, hexabromocyclododecane, and the bromodiphenyl ethers, are used as flame retardants in many industries, mainly electronics, textile, and plastics. The major applications of organobromine are flame retardants and biocides. Some organobromine derivatives are also used in water treatment applications, such as the cleaning up of pools and spas. They are an important ingredient for making dyes.
Organobromines are used as intermediates for preparing pharmaceuticals like nicergoline and brotizolam. and as an anticancer agent pipobroman. Bromoform and dibromodimethylhydantoin organobromine are used in water treatment applications, to prevent the growth of algae, bacteria, and other microorganisms as well as for the prevention of foul odor in water. The flourishing electronics & telecommunication, textile, plastic, and construction industries are expected to drive the market for organobromine.
Bromine Market in Asia Pacific Region
The Asia Pacific region accounted for the largest share of the bromine market in 2018. China, India, Japan, and South Korea are key countries contributing to the increased demand for bromine in this region. Substantial development in infrastructure and increasing demand for flame retardants in the automobile and building & construction end-use industry are expected to drive the bromine market in this region.
Source: M&M