Bromine Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2024-2030

Report Code: CMR 0697 Report Format: PDF + Excel

Bromine Market - Overview

Bromine Market size is forecast to reach $5 billion by 2030, after growing at a CAGR of 4.5% during 2024-2030. Bromine is used in many applications such as agricultural chemicals, dyestuffs, insecticides, pharmaceuticals and chemical intermediates. The Bromine market is witnessing significant dynamics driven by various factors and trends shaping its trajectory. Firstly, the increasing demand for flame retardants across industries such as construction, electronics, and automotive is propelling the growth of the bromine market. Bromine compounds are widely utilized as flame retardants due to their effectiveness in reducing the flammability of materials, thereby enhancing safety standards and regulatory compliance. This trend is particularly pronounced in emerging economies where infrastructure development and urbanization are fueling the demand for fire-resistant materials. Secondly, the expanding use of bromine in the pharmaceutical and healthcare sectors is another notable trend. Bromine compounds find applications in various pharmaceutical products, including sedatives, antiseptics and disinfectants, owing to their antimicrobial properties and efficacy in treating certain medical conditions. With the rising focus on health and hygiene, especially amidst the global pandemic, the demand for bromine-based pharmaceuticals and healthcare products is expected to grow steadily. Moreover, ongoing research and development activities aimed at discovering new applications and formulations of bromine compounds are anticipated to drive innovation and market expansion.

Report Coverage

The report: “Bromine Market – Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Bromine Industry. 


By Product Type: Elemental Bromine, Derivatives (Organobromines, Clear Brine Fluids (CBFs), and Hydrogen Bromide (HBr))
By Application – Flame Retardants (Plastic, Clothing, Paper, Woods), Fine Chemicals (Pharmaceuticals, Raw materials for chemical industry), Agriculture Products (For Soil and Agriculture Pest Control (Pest control of surface vegetation, Soil Pest Control), Long term Storage), Biocides (Cleaning Materials, Metal Processing, Water disinfection, Medical Disinfectants, Glues and Sealants, Latex Polymers, Coating and Dyes), Others
By End Use – Oil & Gas, Chemicals, Textile, Medical, Automotive, Agriculture, Water Treatment, Pharmaceuticals, Cosmetics, Others
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, Italy, France, Spain, Netherlands, Russia, Belgium, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, ANZ, Indonesia, Taiwan, Malaysia, and Rest of Asia Pacific), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and RoW (Middle East and Africa).

Key Takeaways

• Asia-Pacific dominates the Bromine market owing to increasing demand from applications such as agricultural chemicals, dyestuffs, insecticides, pharmaceuticals.
• Bromine compounds can be used as flame retardants. They are added to furniture foam, plastic casings for electronics and textiles to make them less flammable, which is likely to aid in the market growth of Bromine.
• Organobromides are used in halon fire extinguishers that are used to fight fires in places like museums, aero planes and tanks, this will increase the market demand for Bromine in the near future.

Bromine Market Segment Analysis- By Derivative

Organobromines segment holds the largest share in the Bromine market in 2023 as it is widely used in the manufacturing of brominated flame retardants, pesticides, fumigants, and biocides for water treatment. As organic compounds containing bromine atoms, organobromines find extensive use in flame retardants, agrochemicals, pharmaceuticals, and other industries. In flame retardants, organobromines are crucial additives incorporated into materials like plastics, textiles, and electronics to enhance their fire resistance properties, thus ensuring safety standards and regulatory compliance. Moreover, in agrochemicals, organobromines serve as key components in pesticides and herbicides, contributing to crop protection and yield enhancement. Additionally, organobromines play a vital role in pharmaceuticals, where they are utilized in the synthesis of various pharmaceutical compounds and drugs. Their unique chemical properties and versatility make organobromines indispensable in these industries, driving their demand and market growth.

Bromine Market Segment Analysis- By Application

Flame Retardants held the largest share for the global Bromine market share in 2023 and is set to grow at CAGR 4% during this forecast period. Flame retardants represent a pivotal application within the bromine industry, driving demand and innovation across various sectors. As stringent safety regulations and heightened awareness of fire hazards continue to shape industries such as construction, electronics, and automotive, flame retardants play a crucial role in enhancing fire safety standards and mitigating risks. In October 2023, Avient Corporation, a leading provider of specialized and sustainable material solutions and services, announced it is introducing a line of PTFE-free and non-halogen flame-retardant additives specifically engineered for polycarbonate and useful for electrical and electronic applications Bromine-based flame retardants, including brominated compounds like polybrominated diphenyl ethers (PBDEs) and hexabromocyclododecane (HBCD), are highly effective in reducing the flammability of materials and preventing the spread of fires. In construction, bromine-based flame retardants are incorporated into insulation materials, textiles, and coatings to enhance the fire resistance of buildings and infrastructure.

Bromine Market Segment Analysis- Geography

APAC dominated the Bromine market with a share of more than 30%, followed by North America and Europe. The demand for bromine in this region is mainly propelled by its increasing use in China, Japan, and India. Increasing infrastructural development and the rise in the disposable income of the middle-class population in Asia Pacific have boosted the demand for flame retardants, which are used extensively in insulation and fabrication of plastic and electronic components. China is expected to be the dominant and fastest-growing market for bromine in the Asia Pacific region, mainly due to the escalating demand for brominated flame retardants in the country. China, which had banned the export of bromine and its related compounds, is focusing only on imports to meet its domestic requirements.
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Drivers – Bromine Market

• Increasing use of hydrogen bromide in flow batteries

The Bromine market is experiencing a notable surge in demand with the increasing utilization of hydrogen bromide in flow batteries. As the demand for energy storage solutions escalates, particularly in renewable energy applications, flow batteries have emerged as a promising technology due to their scalability, long cycle life, and high efficiency. Hydrogen bromide serves as a key component in the electrolyte of flow batteries, facilitating the electrochemical reactions necessary for energy storage and release. The unique properties of hydrogen bromide, such as its high energy density and stability, make it well-suited for flow battery systems, enabling enhanced energy storage capacities and improved overall performance. In November 2023, Pacific Northwest National Laboratory (PNNL) and Invinity Energy Systems launched a 24-hour vanadium flow battery project. The project is a collaboration between PNNL's energy storage researchers and its operations and facilities team. This trend is further fuelled by the growing emphasis on renewable energy integration and grid stability, driving the adoption of energy storage solutions like flow batteries.

• Increasing demand for flame retardants

The Bromine market is experiencing a notable surge in demand for flame retardants, emerging as a significant market driver across various sectors. The escalating need for flame retardants stems from stringent safety regulations, heightened awareness of fire hazards, and a growing emphasis on fire safety standards globally. In industries such as construction, electronics, and automotive, flame retardants play a pivotal role in enhancing fire safety measures and mitigating risks associated with fire incidents. In the construction sector, for instance, bromine-based flame retardants are integrated into insulation materials, textiles, and coatings to bolster the fire resistance of buildings and infrastructure, thus ensuring the safety of occupants and compliance with regulatory standards. Similarly, in the electronics industry, the demand for flame retardants has surged as manufacturers seek to enhance the fire safety of electronic devices and components. In October 2023, Clariant, a Swiss specialty chemicals group, inaugurated its Daya Bay Exolit® OP flame retardant plant in mid-October 2023. The CHF 60 million investment in the plant's first production line provides local customers with access to innovative and sustainable Exolit OP flame retardants.

Challenges – Bromine Market  

Toxicological effects of brominated compounds
Brominated compounds, such as flame retardants, have routinely been added to consumer products, such as electronics, plastics, and many more for several decades in a successful effort to reduce fire-related injuries and property damage. Recently, concerns regarding this class of chemicals have risen because of the harmful and toxicological effect it has on health and the environment. The widespread production and use of brominated flame retardants (BFRs) lead to increased contamination of the environment. These compounds also have an adverse effect on animals and wildlife. However, the current toxicology databases that exist are inadequate to understand the risk. Many of the studies that do exist involve commercial mixtures, but do not represent human exposure.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Bromine market. In 2023, the market of Bromine has been consolidated by the top five players accounting for a 35% of the share. The top 10 companies in the Bromine market are
  1. Albemarle Corporation
  2. LANXESS Corporation
  3. Tata Chemicals Limited
  4. Gulf Resources Inc.
  5. ICL Group Ltd.
  6. Jordan Bromine Company
  7. Tosoh Corporation
  8. Solaris Chemtech
  9. Shandong Haiwang Chemical Co. Ltd
  10. Honeywell International Inc.


 In June 2023, ACPL announced that it is constructing a bromine derivatives plant at a cost of Rs.250 crores. The plant is expected to be operational by end of fiscal 2024 and will have capacity of 28000 MTPA. ACIL has increased the capacity of bromine to 42500 MTPA in January 2023, from 28500 MTPA earlier. The expanded capacity of bromine will be consumed captively in bromine derivatives plant.

 In November 2022, Albemarle Corporation, a leader in the global specialty chemicals industry, announced planned investments of up to $540 million to expand and modernize two bromine facilities in Magnolia, Arkansas, designed to meet growing demand for fire safety and specialty products in several industries, including technology, safety, transportation, and green energy. The planned investments have begun and will continue through 2027.

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1. Bromine Market - Market Overview
    1.1 Definitions and Scope
2. Bromine Market - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key Trends by Derivatives
    2.3 Key Trends by Application
    2.4 Key Trends by Geography
3. Bromine Market- Landscape
    3.1 Comparative analysis 
        3.1.1 Market Share Analysis- Top Companies
        3.1.2 Product Benchmarking- Top Companies
        3.1.3 Top 5 Financials Analysis
        3.1.4 Patent Analysis- Top Companies
        3.1.5 Pricing Analysis
4. Bromine Market - Startup companies Scenario Premium
    4.1 Top startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Market Shares
        4.1.4 Market Size and Application Analysis
        4.1.5 Venture Capital and Funding Scenario
5. Bromine Market– Industry Market Entry Scenario Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case studies of successful ventures
    5.4 Customer Analysis - Top companies
6. Bromine Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Market Opportunities
    6.4 Porters five force model
        6.4.1 Bargaining power of suppliers
        6.4.2 Bargaining powers of customers
        6.4.3 Threat of new entrants
        6.4.4 Rivalry among existing players
        6.4.5 Threat of substitutes 
7. Bromine Market -Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Market life cycle
    7.4 Suppliers and distributors Analysis
8. Bromine Market– By Product Type (Market Size - $Million)
    8.1. Elemental Bromine    
    8.2 Derivatives
        8.2.1. Organobromines
        8.2.2.  Clear Brine Fluids (CBFs)
        8.2.3 Hydrogen Bromide (HBr)
9. Bromine Market– By Application (Market Size - $Million)
    9.1 Flame Retardants
        9.1.1 Plastic
        9.1.2 Clothing, Paper
        9.1.3 Woods
    9.2 Fine Chemicals
        9.2.1 Pharmaceuticals
        9.2.2 Raw materials for chemical industry), 
    9.3 Agriculture Products
        9.3.1 For Soil and Agriculture Pest Control 
   Pest control of surface vegetation, 
   Soil pest control 
        9.3.2 Long term Storage 
    9.4 Biocides 
        9.4.1 Cleaning Materials
        9.4.2 Metal processing
        9.4.3 Water disinfection
        9.4.4 Medical disinfectants
        9.4.5 Glues and sealants
        9.4.6 Latex polymers
        9.4.7 Coating and dyes
    9.5 BHR Flow Batteries
    9.6. Others
10. Bromine Market– By End Use (Market Size - $Million)
    10.1 Oil & Gas
    10.2 Chemicals
    10.3 Textile
    10.4 Medical
    10.5 Automotive
    10.6 Agriculture
    10.7 Water Treatment
    10.8 Cosmetics
    10.9 Others
11. Bromine Market - By Geography (Market Size - $Million)
    11.1 North America
        11.1.1 U.S.
        11.1.2 Canada
        11.1.3 Mexico
    11.2 South America
        11.2.1 Brazil
        11.2.2 Argentina
        11.2.3 Colombia
        11.2.4 Chile
        11.2.5 Rest of South America
    11.3 Europe
        11.3.1 U.K
        11.3.2 Germany
        11.3.3 Italy
        11.3.4 France
        11.3.5 Russia
        11.3.6 Spain
        11.3.7 Netherlands
        11.3.8 Belgium
        11.3.9 Rest of Europe
    11.4 Asia Pacific
        11.4.1 China
        11.4.2 India
        11.4.3 Japan
        11.4.4 South Korea
        11.4.5 Australia & New Zealand
        11.4.6 Rest of Asia Pacific
    11.5 RoW
        11.5.1 Middle East
        11.5.2 Africa
12. Bromine Market- Entropy
    12.1 New Product Launches
    12.2 M&A’s, Collaborations, JVs and Partnerships
13. Market Share Analysis Premium
    13.1 Market Share by Country- Top companies
    13.2 Market Share by Region- Top companies
    13.3 Market Share by type of Product / Product category- Top companies
    13.4 Market Share at global level- Top companies
    13.5 Best Practices for companies
14. Bromine Market- List of Key Companies by Country Premium
14. Bromine Market Company Analysis
    15.1 Market Share, Company Revenue, Products, M&A, Developments
    15.2 Albemarle Corporation
    15.3 LANXESS Corporation
    15.4 Tata Chemicals Limited
    15.5 Gulf Resources Inc.,
    15.6 ICL Group Ltd.
    15.7 Jordan Bromine Company
    15.8 Tosoh Corporation
    15.9 Solaris Chemtech
    15.10 Shandong Haiwang Chemical Co. Ltd
    15.11 Honeywell International Inc

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