The bromine market is projected to grow from USD 3.6 billion in 2023 to USD 4.4 billion by 2028, at a CAGR of 4.2% from 2023 to 2028. The growth of the market is driven by the rising demand for bromine in various applications such flame retardants, oil & gas drilling, PTA synthesis, pharmaceutical, pesticides and, among others.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=42782196
Bromine Companies:
The globally leading players in the bromine market are such as ICL Group Ltd. (Israel), Albemarle Corporation (US), LANXESS AG (Germany), Tosoh Corporation (Japan), and TETRA Technologies, Inc. (US) fall under the winners’ category. These players have adopted the strategies of expansions, new product developments, agreements, and acquisitions to fulfil the rising demand for bromine on the regional as well as global levels.
ICL Group Ltd.
ICL Group Ltd. is one of the largest players operating in the bromine market. The company works in fertilizers, bromine, and flame retardants. The company has focused on new product development and expansions strategies to strengthen its position in the bromine market. In January 2023, ICL Group Ltd launched new product BromoQuel which is a bromine neutralization system.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=42782196
Albemarle Corporation
Albemarle Corporation has a strong product portfolio and supplies products to various industries. The company has established a joint venture with Jordan Bromine Company Ltd. (Jordan) to obtain high-quality bromine from the Dead Sea. In November 2022, Albemarle Corporation announced its plan to expand and modernize two bromine facilities in Magnolia, Arkansas, to meet the growing demand for fire safety and specialty products.
Tosoh Corporation
Tosoh Corporation manufactures bromine, hydrobromic acid, and various grades of flame retardants used in the electronics, consumer goods, textile, and automotive industries. In June 2020, Tosoh Corporation has decided to expand its production capacity for bromine at its Nanyo Complex in Shunan City, Yamaguchi Prefecture.
Inquire Now: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=42782196
Asia Pacific, North America, and Western Europe are significant regional markets for bromine. The Asia Pacific market is expected to witness the fastest growth between 2023 and 2028. Massive economic expansion and the flourishing electronics, semiconductor, automotive, and textile industries in some Asia Pacific countries, such as China, India, Japan, South Korea, and Taiwan, are responsible for the market’s high growth rate in the region. Currently, China is the largest market for bromine in the Asia Pacific region. The market in this country is also projected to register the highest CAGR during the forecast period in terms of value and volume.
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/bromine-market-42782196.html