11 September 2019
Visiongain’s new report the Bromine Derivatives Market Report 2019-2029: Forecasts by Product (Brominated polystyrene, Tetrabromobisphenol A (TBBPA), Calcium Bromide, Sodium Bromide, Zinc Bromide, Hydrobromic Acid, Decabromodiphenyl Ethane (DBDPE), by Application (Flame Retardants, Organic Intermediates, Oil & Gas, Biocides, PTA Synthesis), by Region and Analysis of Leading Companies Operating in This Industry.
Increased use of bromine in regulating mercury emissions and increased demand for halogenated flame retardants has stimulated market growth. In addition to increasing building operations in the Middle East and Asia Pacific, flourishing end-use sectors such as agriculture, pharmaceuticals, and electronics are anticipated to provide a boost to market growth. Asia Pacific emerged as one of the largest consumers of bromine derivatives by volume and the demand is estimated to grow rapidly over the forecast period. Rising consumption in China and India along with growing manufacturing activities is anticipated to drive the market during the forecast period.
Global Bromine Derivatives Industry is highly consolidated in nature as well-established producers are operating in this industry. Leading manufacturers such as Albemarle, Lanxess, and Israel Chemicals Ltd. Are dominated the bromine derivatives industry in 2018 by accounting more than 55% of overall market share. These companies ' cost competitiveness and simple access to bromine deposits have cemented their position. These businesses also set up partnerships and ties with providers to boost their regional presence.
Regulatory bodies such as the United States Environmental Protection Agency (EPA) and the European Chemicals Agency (ECHA) implemented quick and more stringent regulations to stop the usage of methyl bromide in fumigants. Increasing consumption of non-halogenated flame retardants is projected to inhibit the growth of the market.
Pharmaceutical industry is expected to be one of the promising applications of bromine derivatives owing to increasing consumption of NaBr for making medicinal intermediates and as anti-epileptic drugs (AEDs) because of its anti-seizure properties. Increasing oil & gas exploration activities has been leading to extensive use of calcium bromide (CaBr) and NaBr as drilling fluid for extraction of petroleum products, which is augmenting the overall bromine derivatives market.
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