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Bromine Market Size Forecast to Reach $4.2 Billion by 2025
"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 Growth of Bromine Market ."

BriefingWire.com, 4/07/2021 - Bromine Market size is forecast to reach $4.2 billion by 2025, after growing at a CAGR of 5.2% during 2020-2025. Bromine is used in many areas such as agricultural chemicals, dyestuffs, insecticides, pharmaceuticals and chemical intermediates, doe to which the Bromine market is witnessing an increase in demand. COVID 19 pandemic will create few hurdles for bromine market.

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, aeroplanes and tanks, this will increase the market demand for Bromine in the near future.

COVID 19 pandemic will create hurdles for the Bromine market.

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Bromine Market Segment Analysis - By Application

Flame Retardant sector has been the primary market for Bromine. Unlike the phosphorus-containing flame retardants, halogen-containing flame retardants are not polymer-specific in that they act primarily in the vapor phase by suppressing the flame chemistry.9 Bromine-containing agents predominate because not only are they more efficient than similar chlorine-containing species, but also the high atomic weight of bromine ensures that it is present in a high mass fraction within most organobromine compounds.

Bromine Market Drivers

Increasing use of hydrogen bromide in flow batteries

Hydrogen bromide flow batteries are included under the category of membrane-less flow batteries with a high-power density. EnStorage Inc. (Israel), a developer of large-scale electricity storage solutions, produced grid-connected 50.0 KW hydrogen-bromine (HBr) flow batteries, which were connected at the company’s test site in southern Israel to provide up to 100.0 kWh of energy. The grid became operational in March 2013. EnStorage Inc. flow batteries utilize HBr and H2 as storage chemicals.

Impact of COVID 19

The rapid spread of coronavirus has had a major impact on global markets as, major economies of the world are completely lockdown due to this pandemic. Because of this major lockdown, suddenly all the consumer market has started to show zero interest towards purchasing any goods. One of the major difficulties, market is facing are the shutdown of all kinds of transportation.

Bromine Market top 10 companies are Israel Chemicals Limited, Albemarle Corporation, LANXESS Corporation, Tosoh Corporation, Tata Chemicals Limited, Gulf Resources Inc., and TETRA Technologies, Inc.,

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