Global Bromine Market Size, Share, Opportunities, And Trends By Application (Flame Retardants, Oil & Gas, Drilling, Biocides, Pharmaceuticals (API), Agrochemicals, Water Treatment, Others), And By Geography - Forecasts From 2023 To 2028

Bromine is a reddish-brown liquid at room temperature and is a halogen element. It is a highly reactive element that has a strong and pungent odor. Bromine is widely used in various industries such as pharmaceuticals, agrochemicals, oil and gas, water treatment, flame retardants, and others. The global bromine market is primarily driven by the increasing demand for bromine-based flame retardants in the construction industry, as they are highly effective in reducing the flammability of materials used in buildings, automobiles, and electronics. Additionally, the growing demand for bromine in the oil and gas industry for drilling fluids and completion fluids, as well as in the water treatment industry for disinfecting and purifying water, is also expected to fuel the market growth.

Drivers:

Growing demand for flame retardants- Bromine is widely used in the production of flame retardants that are used in various industries, including construction, electronics, and automobiles. The increasing demand for these flame retardants is expected to drive the growth of the bromine market. The use of bromine-based flame retardants has become increasingly important due to the growing focus on fire safety regulations across the world. In 2018, as per the data provided by the US Fire Administration, there were a total of 1,318,500 reported cases of fires in the United States, leading to 3,655 fatalities and 15,200 injuries. Flame retardants are used in a variety of products to reduce the risk of fire, and the demand for these products is expected to drive the growth of the bromine market.

Increasing demand for oil and gas drilling- Bromine compounds are used in drilling fluids and completion fluids in the oil and gas industry. The increasing demand for oil and gas drilling is expected to drive the growth of the bromine market. Additionally, the use of bromine-based fluids for drilling and completion processes improves the efficiency of oil and gas extraction. According to the US Energy Information Administration, global oil consumption is expected to increase from 100.3 million barrels per day in 2019 to 101.7 million barrels per day in 2020.

Growing industrialization and urbanization- The growing industrialization and urbanization in developing countries are expected to drive the growth of the bromine market. The increasing demand for construction materials, electronics, and automobiles is expected to boost the demand for bromine-based products.

Key developments.

• In September 2022, De Nora launched the MIOX® Bromine Oxidant Solution System (BOSS), an innovative solution that produces bromine-based solutions. The system is designed to optimize water treatment in systems that manage high ammonia concentrations or elevated pH levels, and it converts chlorine-based solutions into bromine-containing solutions using a bromide-containing activator. The primary application for the MIOX BOSS is in cooling towers, where alkaline treatment programs are typically used to minimize corrosion. Bromine remains active in the hypobromous acid form in high pH conditions, making it more effective than chlorine in killing bacteria when treating alkaline waters. The MIOX generator utilizes three commonly available consumables - water, salt, and power - to produce oxidant solutions. The BOSS system introduces sodium bromide with or without sulfamic acid, creating a bromine-based solution that is optimized for treating alkaline waters. The MIOX BOSS system can be used as new equipment or as an addition to existing mixed oxidant installations, and the technology has been successfully used for over 20 years in various applications, including municipal drinking water and power generation.

The International Bromine Council’s (BSEF) Indian consulting partners joined forces with the Indian Chemical Council, India's apex chemical industry body, to launch the India Bromine Platform (IBP). The IBP aims to promote the benefits of bromine and bromine-based technologies by working with bromine producers and suppliers in India. It also aims to address issues relevant to the Indian and global bromine industry, drive mutually beneficial initiatives, disseminate learnings and experiences from other regions, and enhance collaboration and knowledge among its members and other stakeholders to support the use of bromine-based technologies in India.

Asia Pacific accounted for a significant share of the global bromine market.

Based on geography, the global bromine market is segmented into North America, South America, Europe, the Middle East and Africa and Asia Pacific. The Asia-Pacific region is a significant market for bromine, with China being the largest producer and consumer of bromine globally as per the United States Geological Survey (USGS). The demand for bromine in the region is mainly driven by the electronics, construction, and automotive industries. Bromine-based flame retardants are widely used in electronics to improve fire safety, and the growing demand for electronics is expected to drive the market for bromine in the region. In the construction industry, bromine-based flame retardants are used in insulation materials and plastics, and the demand for these materials is expected to grow due to increasing urbanization and infrastructure development in the region. Additionally, the demand for bromine-based water treatment solutions is rising in Asia-Pacific, driven by regulatory requirements and increasing concern over water quality.

Based on application, the global bromine market is expected to witness positive growth in oil and gas drilling segment.

The use of bromine in oil and gas drilling is one of the significant applications of the chemical. In the oil and gas industry, bromine is primarily used to manufacture completion fluids that are utilized to clear debris and other unwanted materials during drilling. The completion fluids also aid in cooling and lubricating the drill bits, preventing corrosion of the wellbore, and maintaining the integrity of the formation. The global demand for bromine in oil and gas drilling is expected to increase during the projected period, primarily driven by the growth of the oil and gas industry, especially in emerging economies. Additionally, the expansion of shale gas exploration and production is also driving the demand for bromine-based completion fluids.

Key Market Segments

• By Application
  • Flame Retardants
  • Oil & Gas Drilling
  • Biocides
  • Pharmaceuticals (API)
  • Agrochemicals
  • Water Treatment
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Australia
    • Others