Global Bromine Derivatives Market Size To Exceed USD 6.99 Billion By 2033: Market Insight Report

Global Bromine Derivatives Market Size To Exceed USD 6.99 Billion By 2033          

According to a research report published by Spherical Insights & Consulting, The Global Bromine Derivatives Market Size is Expected to Grow from USD 3.98 Billion in 2023 to USD 6.99 Billion by 2033, at a CAGR of 5.79% during the forecast period 2023-2033. 

Browse 210 Market Data Tables And 45 Figures Spread Through 190 Pages and In-Depth TOC On the Global Bromine Derivatives Market Size, Share, and COVID-19 Impact Analysis, By Product (Tetrabromobisphenol A, Calcium Bromide), By Application (Flame Retardants, Oil & Gas), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033.

The global market for chemicals made from bromine, including sodium bromide, calcium bromide, and organobromine compounds, is known as the bromine derivatives market. These derivatives are used in many different industries, including water treatment, construction, pharmaceuticals, and oil and gas drilling. When bromine (Br) is chemically mixed with other elements or groups, a variety of substances with various properties and uses are created. These compounds are known as bromine derivatives.  These derivatives fall into two general categories: organic bromides (such as decabromodiphenyl ethane or brominated polystyrene) and inorganic bromides (such as sodium bromide and zinc bromide). Furthermore, these are crucial for many uses, including water purification, medicines, and flame retardants. However, changing raw material prices, particularly for natural gas and oil, and the possibility of more stringent laws restricting the use of flame retardants are problems for the global market for bromine derivatives.

The tetrabromobisphenol A segment dominated the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the product, the global bromine derivatives market is divided into tetrabromobisphenol A and calcium bromide. Among these, the tetrabromobisphenol A segment dominated the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. Its widespread use as a flame retardant in electrical components and consumer electronics is responsible for this growth.  In addition, the need for TBBPA is growing as safety laws around the world become more stringent, especially in the manufacturing of smart technology and large-screen gadgets.

The flame retardants segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the application, the global bromine derivatives market is divided into flame retardants, oil & gas. Among these, the flame retardants segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. Effective flame retardants are also becoming more and more in demand in the construction, automotive, and electronics industries.  Manufacturers use bromine-based solutions to improve product safety and regulatory compliance as a result of the increased emphasis on fire safety.

Asia Pacific is anticipated to hold the highest share of the global bromine derivatives market over the projected period.

Asia Pacific is anticipated to hold the highest share of the global bromine derivatives market over the projected period. The quick development of the electronics and pharmaceutical sectors is responsible for this rise.  Furthermore, as the population grows and healthcare awareness rises, there is a greater need for pharmaceuticals, which increases the use of bromine derivatives in medication manufacturing.  Additionally, market expansion is being driven by the electronics industry's dependence on flame retardants for safety compliance. 

North America is estimated to grow at the fastest CAGR of the global bromine derivatives market during the forecast period.  In addition, the demand for brominated compounds has surged as a result of the car industry's emphasis on fire safety measures.  In addition, manufacturers are encouraged to use creative solutions using bromine derivatives through technology breakthroughs and an increasing emphasis on sustainable practices, which is driving market expansion in this area.

Company Profiling

Major vendors in the global bromine derivatives market are Albemarle Corporation, Tata Chemicals Ltd., Lanxess Corporation, Honeywell International Inc., Tosoh Corporation, Israel Chemicals Limited, Tetra Technologies Inc., Hindustan Salts Ltd., Jordan Bromine Company Ltd., Morre-Tec Industries, Inc., Beacon Organosys, and others. 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

Recent Development 

• In November 2023, the multinational pharmaceutical giant Lupin Limited (Lupin) announced the release of 50 mg/5 mL (10 mg/mL) and 100 mg/10 mL (10 mg/mL) multiple-dose vials of Rocuronium Bromide Injection. This comes after the United States Food and Drug Administration (FDA) approved Caplin Steriles Limited (Caplin), Lupin's alliance partner.

Market Segment

This study forecasts revenue at the global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global bromine derivatives market based on the below-mentioned segments: 

Global Bromine Derivatives Market, By Product   

• Tetrabromobisphenol A
• Calcium Bromide

Global Bromine Derivatives Market, By Application     

• Flame Retardants
• Oil & Gas

Global Bromine Derivatives Market, By Regional 

• North America 
  • US
  • Canada
  • Mexico
• Europe 
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific 
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America 
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa 
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa