Bromine derivatives are derivatives of bromine that has a wide range of application flame retardants, organic intermediates, oil & gas, biocides, and PTA Synthesis. They are also used in the pharmaceutical industry due to their rising consumption of NaBr for producing various medicinal intermediates and anti-epileptic drugs (AEDs) due to its anti-seizure properties. Moreover, its derivative such as calcium bromide (CaBr) and NaBr are used in the oil and gas exploration in drilling fluid for the extraction of petroleum products. The global bromine derivatives market was valued at US$ 3,973.7 Mn in 2018, mounting at a CAGR of 4.0% during the forecast period (2019 to 2027). Drivers: Growing demand from the chemical industry, pharmaceutical, and oil & gas industry is expected to fuel the market growth over the forecast period. In the pharmaceutical industry it is used in the raw material for the production of active pharmaceuticals ingredients and pharmaceuticals products, such as sedatives, analgesics, and antihistamine. This factor is expected to propel the market growth. In oil and gas industry it is used as clear brine fluids such as sodium bromide, calcium bromides and zinc bromides to control clay hydration during oil & gas exploration activity. Thus, rising demand for bromine derivative from pharmaceutical and oil and gas the industry is expected to fuel the market growth over the forecast period. Market Opportunities Expanding production of bromine derivative in Asia Pacific region is projected to offer immense growth opportunity to the market for bromine derivative. Moreover, in some countries such as China and India, government policies on the usage of brominated flame retardants is not that strict as compared to other countries such as the U.S. and EU countries. This is expected to propel the market growth of bromine derivative over the forecast period. Moreover, consumption of bromine and its derivatives in Asia and BRIC countries is projected to grow significant subjected to underlying growth across end-use industries such as dye manufacturing, pharmaceuticals, and specialty chemicals and shift in production of the consumer is expected to boost the market growth. Market Restraints Strict government policies on the usage of bromine derivatives are expected to restrict the market growth of bromine derivatives. For example, the over the last few years, various governments around the globe have implemented strict laws regarding waste and other related hazardous materials. In Europe, the negative health effects of these materials have led to enforcement of Waste Electrical and Electronic Equipment (WEEE) and Restriction of Hazardous Substances (RoHS) directives. The goal of these regulations is to ensure that e-waste can be effectively managed and recycled. This is expected to curb the market growth of bromine derivative over the forecast period. Key Takeaways: Based on derivatives, the bromine derivatives market is segmented into Sodium bromide, Calcium Bromide, Zinc Bromide, TBBPA, DBDPE, and other derivatives. In 2018, TBBPA accounted for the largest revenue share of 38.3% in the global bromine derivatives market, followed by calcium bromide and sodium bromide. Market Trends The rising number of strategic collaboration for expanding the product portfolio among players is expected to augment the market growth over the forecast period. For instance, in February 2016, ICL, a leading specialty minerals, and specialty chemicals company and Albemarle Corporation, manufacture and marketing of flame retardants, announced that they have entered into a long-term agreement for the supply of polymeric flame retardant. The product is manufactured at ICL's facilities in the Netherlands and in Israel utilizing technology licensed from Dow Global Technologies LLC, a subsidiary of The Dow Chemical Company. Albemarle will supply ICL with bromine for the production of GreenCrest, associated with the agreement. Rising investment in research and development activities to improve product quality is further expected to fuel market growth. Moreover, the growing demand for organic intermediate from chemical industry coupled with the rising demand for purified terephthalic acid for manufacturing high-performance multi-purpose plastic is polybutyl terephthalate (PBT) and polyethylene is further projected to foster the market growth of bromine derivative over the forecast period. Company Profiles Players active in the market are Israel Chemicals Limited, Albemarle Corporation, Tosoh Corporation, Tata Chemicals Limited, Chemtura Corporation, Jordan Bromine Company, Gulf Resources Inc., Hindustan Salts Limited, and Tetra Technologies Inc. Few Recent Developments Chemtura Corporation In May 2015, the company collaborated with Tosoh Corporation, a Japan-based manufacturer of bromine-based flame retardants. This collaboration offered Chemtura an opportunity to expand its presence in the Asia Pacific Tosoh Corporation In May 2016, the company signed an exclusive sales agreement with Chemtura Corporation, a U.S.-based leading manufacturer of bromine and its derivatives. This agreement helped the company expand its product portfolio with the addition of Chemtura’s polymeric flame retardant, Emerald Innovation 1000, and access to Chemtura’s technology for brominated flame retardants. 5Gulf Resources Inc. In November 2015, the company’s subsidiary—Shouguang City Haoyuan Chemical Company Limited—entered into an agreement with the People's Government of Daying County in Sichuan Province for exploration and development of natural gas and brine resources. This collaboration helped the company to expand its bromine manufacturing capacity. Market Taxonomy By Application
By End-Use Industry
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