Due to increasing industrialization across the globe, the demand for performance additives has been witnessing a surge, driving the global bromine derivatives in the coming years. A rise in the demand for bromine derivatives in the electronics, aerospace & defence, and biomedical sectors is expected to drive the market growth over the forecast period.
ResearchMoz shares detailed insights on the bromine derivatives market including market size, threats, challenges, and opportunities which would help the stakeholders to be thoughtful before taking their business decisions.
Crop Protection Technology Drives the Bromine Derivatives Market
The bromine derivative industry is one of the fastest-growing industries in the world due to the increasing demand from various countries across the world. The development and improvement in crop protection technology have increased the demand for bromine-based pesticides and this has increased the revenue for the bromine derivatives.
However, bromine is a highly corrosive element, it has been found that bromine can damage the environment due to its high corrosive property. Moreover, brominated flame retardants are suspected to have the potential to act as endocrine disruptors. Thus, regulatory concerns and controversies regarding the safety of brominated flame retardants have dampened the demand in the global bromine derivatives market.
Nonetheless, the bromine compounds have been used in numerous applications due to their antimicrobial properties. The bromine compounds have been found to have a wide range of applications in the field of healthcare, agriculture, and food processing, which would amplify the growth opportunities for the bromine derivatives market in the coming years.
Rapid Urbanization Boosts Growth Opportunities for the Bromine Derivatives Market
With the increase in population and urbanization, the consumption of water has also increased, paving the way for bromine derivatives market growth. Moreover, the growing awareness about the importance of clean water has also led to an increase in the demand for bromine derivatives. This, in turn, has led to the growth opportunities of the bromine derivatives market.
Additionally, bromine has a wide range of applications in the chemical and pharmaceutical industries, which has led to the growth of the bromine derivatives market. Growing demand for bromine in the food and beverage, leather, construction, and water purification industries has further fueled the growth of the bromine derivatives market.
Competitive Landscape
The report by ResearchMoz helps stakeholders know where to find information to start or expand their business. It also helps them understand which regulatory requirements to keep in mind while setting up their business. For example, the report can be used by manufacturers to know where they need to register and how to list their products. It can be helpful for suppliers to know the exact specifications and quality standards that the manufacturer wants.
Many manufacturing companies have set up R&D centres, focusing on developing new products, improving existing products, and expanding into new markets to meet the market demand. It is highly essential for both medium and large-scale manufacturing companies to invest in R&D. This helps in maintaining a competitive edge in the industry and also facilitates reducing the cost of production.
Major Players
- LANXESS CORPORATION
- PEREKOP Bromine
- TATA CHEMICALS LIMITED
- TETRA Technologies, INC.
- Tosoh Corporation
- Honeywell International INC.
- Israel Chemicals Limited
- Gulf Resources Inc
- Albemarle Corporation
- Hindustan Salts Limited
Key Takeaways
The report begins with a description of bromine, the production process, and bromine determinants. This section also analyzes the various end-users of bromine and its applications. The bromine market report then analyzes the various trends expected to shape the bromine market over the forecast period. It also analyzes the trends that may hinder the growth of this market. The report ends with a summary of key findings and key takeaways.
The bromine derivatives market will observe a growth of a CAGR of 4.4% during the forecast period 2019 to 2025.
The bromine derivatives market is dominated by major players in the end-user industries such as the chemical, pharmaceutical, and food & beverages sectors. However, growth opportunities in the non-end-user industries such as the electronics, automotive, and aerospace & defence sectors are providing impetus to the market growth of bromine derivatives
Furthermore, DOW, Ltd. is a major producer of bromine compounds such as bromine compounds, bromine anhydride, and bromine oxide. The key players in the bromine derivatives market are also engaged in the research and development of bromine derivatives such as bromine-sulfur composites, bromine-sugar composites, and bromine-acid composites.
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