Global Bromine Market Overview
Bromine is a natural element, found in lakes, sea and underground bores and mines. It is generally used in biocides, water treatment plants and pharmaceutical industries owing to its property of catalyst and reactant. Bromine and its derivatives have wide-scale application in several industries such as oil and gas industry.
The global bromine market is predicted to flourish significantly at a CAGR of 11.7% over the forecast period i.e. 2016-2023. Moreover, the market of bromine market accounted for USD 4.52 Billion in 2015 and the market is anticipated to reach USD 10.21 Billion by 2023.
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The bromine market of Asia-Pacific is estimated to grow significantly over the forecast period owing to presence of emerging economies such as India, China, and others. Moreover, the market accounted for the largest revenue share of 30% in 2015 in overall bromine market across the globe. On the other hand, Europe is expected to be the second largest share contributor by registering a share of 27% in 2015 in overall market of bromine across the globe due to presence of large number of pharmaceutical industries and extensive researches for effective drugs.
In 2015, North America accounted the revenue share of 25% in overall bromine market across the globe. The market is expected to grow in European region owing to technological advancements in automobile sector which is further expected to fuel the demand for bromine.
Our in-depth analysis segmented the global bromine market in the following segments:
Clear brine fluids
Oil and gas drilling
Global Bromine market is further classified on the basis of region as follows:
North America (United States /U.S. & Canada)
Latin America (Brazil, Mexico, Rest of Latin America)
Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe)
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia)
Middle East and North Africa (MENA)
Rest of World
Growth Drivers and challenges
Increasing investments in oil and gas extraction industries, rapid production of bromine across the globe; rising export and import of elements such as bromine owing to miscellaneous applications in agriculture and water-treatment set-ups, and rise of funding in agriculture sector and water-treatment industry in order to provide better daily need resources to consumers are some of the major key factors further trigger the demand for bromine in near future. In addition to this, factors such as introduction of effective flame retardants, technological advancements in bromine derivatives, researches in pharmaceutical industries to develop effective drugs for treatment, rising initiative towards polymer fabrication are expected to spur the demand for bromine over the forecast period i.e. 2016-2023.
Contact Key extracts from the Table of Content of Bromine Market 2016-2023 report:
Bromine Market Size and Forecast, 2016-2023
Bromine Market CAGR for the Period 2016-2023
Bromine Market Y-O-Y for the Period 2016-2023
Bromine Market Demand & Supply Analysis
Bromine Market Investment Attractiveness
Bromine Market BPS Analysis
Bromine Market Dynamics – Trends, Drivers, Challenges, and Opportunities
Bromine Market Competitive Landscape Analysis
Bromine Market Investment Proposition, by Geography
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