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At 6.28% CAGR, Global Bromine Market to Surpass US$ 5.70 Bn By 2030, Forecast Report By Zion Market Research

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The global bromine market was estimated to be worth USD 5.70 billion in 2022 and is expected to grow to USD 5.70 billion by the end of 2030, according to a report released by Zion Market Research. Over the course of the projection period, the market is anticipated to rise at a CAGR of 6.28%. The growth factors, barriers, and effects on demand of the worldwide bromine market are examined in this study over the period of forecasting. Additionally, it will support exploration and navigation of the emerging opportunities in the Bromine Market sector.

Global Bromine Market: Overview

Bromine is a colorless, liquid, crystalline mineral halide salt that occurs naturally. It can be found in underground wells, lakes, and seas. In the production of many goods, such as biocides, pharmaceutical intermediates, finishing fluids, photographic chemicals, agrochemicals, water disinfectants, dyes, and flame retardants, it is employed as a catalyst and reactant. The Dead Sea is the primary source of bromine. Industries employ a variety of bromine compounds, including hydrogen bromide, organobromine, and clear brine fluids.

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Global Bromine Market: Segmentation

The bromine market is divided into segments based on geographies, end users, applications, and derivatives globally. The global market is segmented into hydrogen bromide, organobromines, and clear brine fluids based on the derivative. The worldwide market is divided into flame retardants, oil and gas, plasma etching, PTA synthesis, biocides, pharmaceutical, HBr flow battery, fumigant synthesis, and other segments according to the applications. The numerous end user sectors where the bromine is employed include cosmetics, insecticides, medicines, textile, automotive and others. The Asia-Pacific region, Europe, North America, Latin America, the Middle East, and Africa make up the many regions that make up the global market.

Global Bromine Market: Growth Factors

The global market for bromine is being driven by an increase in its uses, which include monomers for specialty polymers, flame retardant, organic intermediates, photographic chemicals, bleaching and oxidizing chemicals, and more. Flame retardants are highly sought after by the textile and electronics sectors, which presents growth prospects for the worldwide bromine industry. The end-use industry’s leading segment will continue to be the chemical one, despite the oil and drilling sectors expanding quickly. The end-user industries are the main users of the organobromine derivative. The negative impacts of bromine consumption impede market expansion. Since bromine flame retardants are thought to be hazardous by nature, there are problems with both the environment and human health.

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Global Bromine Market: Regional Analysis

The Asia-Pacific area is seeing strong expansion in the bromine market. Its growing use across a range of industrial industries is the cause of this expansion. But because bromine is dangerous and has a negative effect on both the environment and human health, its use is restricted in developed markets like North America and Europe. Because of the increased oil drilling in the Mexico region, there has been a notable increase in the usage of bromine throughout Latin America. Because bromine is bad for the environment and human health, it is prohibited in industrial settings throughout Europe.