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US Bromine Market Size, Forecasting and Insights for the Next 10 Years

US Bromine Market Size, Forecasting and Insights for the Next 10 Years

The recent “US Bromine Market” report by Report Ocean gathers insights and assessments through genuine consultations with key stakeholders, including CEOs, Managers, Department Heads of Suppliers, Manufacturers, and Distributors. This comprehensive study aims to thoroughly examine the global industry, target market, competition, and various influencing factors. Ask for Free Sample Report

The report on the “US Bromine Market” conducts a data-driven quantitative analysis of the relevant industry. It utilizes research based on public records to identify significant patterns. Additionally, it provides predictions for the market sector’s growth between 2024 and 2032. The research primarily focuses on major global market manufacturers, analyzing sales volume, rates, competitive aspects, market share, and development strategies up to 2032.

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Global US Bromine Market Analysis and Growth Forecast:

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.

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. For instance, in June 2021, Albemarle Corporation, a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts, completed the sale of its Fine Chemistry Services business to WR Grace & Co. for nearly USD 570 million.

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Growth Influencers:

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.

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Segments Overview:

The US bromine market is segmented into application and derivative.

By Application,
Flame Retardants
Oil & Gas Drilling
PTA Synthesis
Water Treatment
Mercury Emission Control
Pesticides
HBR Flow Batteries
Plasma Etching
Pharmaceuticals
Others

The flame retardants segment is estimated to hold an opportunity of more than USD 70 million during 2021 to 2027. Moreover, the water treatment segment is likely to cross the mark of USD 60 million revenue by 2024. Furthermore, the plasma etching segment is projected to grow at the highest CAGR of 7.4% over the anticipated period.

By Derivative,
Organobromine
Clear Brine Fluids
Hydrogen Bromide (HBR)

The hydrogen bromide segment is likely to be the fastest growing segment with the growth rate of 5.1% over the forecast period.

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. For instance, according to the U.S. Geological Survey, Mineral Commodity Summaries from January 2022, the U.S. apparent consumption of bromine in 2021 was estimated to be greater than that in 2020, thus aligning to high demand and market growth.

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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

The US bromine market report answers questions such as:

  • What is the market size and forecast of the US bromine market?
  • What are the inhibiting factors and impact of COVID-19 on the US bromine market during the assessment period?
  • Which are the products/segments/areas to invest in over the assessment period in the US bromine market?
  • What is the competitive strategic window for opportunities in the US bromine market?
  • What are the technology trends and regulatory frameworks in the US bromine market?
  • What is the market share of the leading players in the US bromine market?
  • What modes and strategic moves are considered favorable for entering the US bromine market?

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Report Components

Market Synopsis: This section encapsulates the present market scenario and outlines the industry’s scope. It includes a comprehensive analysis of key segments such as product types, applications, and regions, with revenue and sales forecasts provided as part of this overview.

Competitive Landscape: Illuminating the market’s competitive terrain, this section presents an in-depth analysis of manufacturers, offering insights into individual players’ revenue and sales figures. Additionally, it encompasses noteworthy details on mergers, acquisitions, and industry investments.

Regional Analysis: Providing an overview of market revenue, sales, and shares across major regions and sub-regions, this segment also explores the pricing structure, sales growth rate, and other crucial estimations.

Company Profiles: This section provides strategic business insights about key firms operating within the market landscape. It covers product specifications, revenue shares, and portfolios of these major companies.

The Analysis Objectives of the Report are:

To determine the size of the Market by identifying its sub-segments.

To research the key players and analyze their growth strategies.

To assess the size and value of the Market based on key regions.

To analyze the Market in terms of growth trends, potential, and participation in the overall sector.

To investigate the Market size (volume and value) from the company, key regions/countries, goods and applications, and background data.

Primary Market manufacturers to specify, clarify, and analyze the product sales volume, value, market share, market rivalry landscape, SWOT analysis, and future development plans.

To investigate market competitive developments such as market expansions, agreements, new product launches, and acquisitions.

What is new in 2024?

– Major developments that can change the business landscape as well as market forecasts.

– Addition/refinement in segmentation–Increase in depth or width of segmentation of the market.

– Coverage of new market players and change in the market share of existing players of the market.

– Updated financial information and product portfolios of players operating in the market.

– Updated market developments of the profiled players.

– Any new data points/analysis (frameworks) which was not present in the previous version of the report

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