Global Organobromine Market – Industry Trends and Forecast to 2029

Global Organobromine Market, By Application (HBr Flow Battery, Pharmaceutical Formulation, Fumigants, Biocides, Flame Retardants, PTA Synthesis, Drilling, Others), End-User (Oil and Gas, Furnishing, Water Treatment, Construction, Others) – Industry Trends and Forecast to 2029.

Organobromine Market Analysis and Size

The chemical element bromine can be obtained by electrolysis from the crust of the Earth. It has a deep red hue and a strong odour, and it dissolves in water. Around the world, it is commonly used to produce organobromine chemicals. These substances are widely used in the production of halon fire extinguishers, which stop fires from starting in places like tanks, airports, and museums.

Global organobromine market was valued at USD 1750.00 million in 2021 and is expected to reach USD 2413.48 million by 2029, registering a CAGR of 4.10% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Organobromine Market Scope and Segmentation

Market Definition

Organobromine compounds are organic substances in which the carbon atom is bonded chemically to the element bromine. The bromomethane produced spontaneously is also seen as being widely distributed. In addition, one of the main applications is the usage of polybrominated diphenyl ethers, which are commonly used as flame retardants. There are a variety of tiny organobromine compounds in nature as well.   

Global Organobromine Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Rising demand for flame retardants

Around the world, fire-related mishaps result in the destruction of property valued at billions of dollars each year. Insurance companies must spend a large amount of their profits to settle claims for the loss of infrastructure, property, and human lives in fire catastrophes. Anti-inflammatory medications and flame retardants, for example, are crucial since they lower the risk of fire for almost every manufactured commodity. Flame retardants postpone the combustion process and hence prevent fire by forming a layer of free radicals. To stop oxidation, they either release carbon dioxide or produce free radicals that interact with oxygen molecules.

• Opportunities presented by government intervention

The market's expansion can be attributed to the stringent environmental regulations that support the use of bromine mostly in coal-fired power plants. The use in power plants can easily reduce the effluents that include mercury. Additionally, one of the key market drivers has been recognized as beneficial laws started by the government agencies.

Furthermore, the factors such as rising urbanization, industrialization and mounting number of exploration activities are some other important market drivers.

Opportunities

• Growth and expansion

Growth and expansion of the construction industry especially in the developing economies will present many opportunities for the growth of the market. Keeping up with advancements in manufacturing/ production technology may also be beneficial for the market as a whole.

Restraints/Challenges  

• Rising environmental concerns

Flame retardants, which are brominated compounds, are routinely added to consumer items like electronics, plastics, and many others in an effort to reduce the number of people killed in fires and the amount of property damage they cause. Concerns have lately grown as a result of the harmful and toxicological consequences that this class of chemicals has on both human health and the environment. The widespread manufacturing and usage of brominated flame retardants (BFRs) leads to an increase in environmental contamination. These chemicals are dangerous to both wildlife and mammals.

This organobromine market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the organobromine market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Organobromine Market

The COVID-19 pandemic had a huge influence on the world economy, especially during the first two quarters of 2020, when widespread lockdowns and social segregation became the norm. Due to the introduction of trade restrictions and the abrupt interruption of industrial activity, it also had an impact on the cocoa processing equipment industry. Due to the significant reduction in the demand for oil prices and demand, the market stumbled.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In March 2020, ICL's factories in China restarted production following a necessary halt that had been put in place since January 2020 to stop the illness from spreading.
• In April 2020, Albemarle Corporation established a cross-functional Global Response Team to address the problems brought on by the novel coronavirus. The COVID-19 pandemic has had an impact on operations all around the world, thus the corporation has prohibited all business travel and encouraged its staff to work from home. Based on the severity of the infection, the corporation has restricted its manufacturing activities and project extensions.
• In March 2020, To enhance the production of its Vikron sanitizer, LANXESS increased its production capacity at its manufacturing facility in Sudbury, UK,. The business increased the number of shifts at the factory.

Global Organobromine Market Scope

The organobromine market is segmented on the basis of application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Application

• HBr Flow Battery
• Pharmaceutical Formulation
• Fumigants
• Biocides
• Flame Retardants
• PTA Synthesis
• Drilling
• Others

End-user

• Oil and Gas
• Furnishing
• Water Treatment
• Construction
• Others 

Organobromine Market Regional Analysis/Insights

The organobromine market is analyzed and market size insights and trends are provided by country, application and end-user as referenced above.

The countries covered in the organobromine market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

Asia-Pacific is expected to account for a sizable portion of the global market. This can be attributed to the escalating demand for brominated flame retardants and increased use in the developing economies such as India, China and Japan.   

Over the forecast period, North America is anticipated to have the highest CAGR. Over the course of the forecast period, it is expected that the demand for organobromine in the region will rise as the region is a key importer of bromine and its associated compounds.  

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Organobromine Market Share Analysis

The organobromine market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to organobromine market.

Some of the major players operating in the organobromine market are

• ICL (Israel)
• Albemarle Corporation (U.S.)
• LANXESS (Germany)
• Tosoh Corporation (Japan)
• Tata Chemicals Ltd. (India)
• Gulf Resources, Inc. (China)
• TETRA Technologies, Inc. (U.S.)
• Solaris Chemtech (India)
• Honeywell International Inc. (U.S.)
• Perekop Bromine (Russia)
• MORRE-TEC Industries (U.S.)
• Jordan Bromine Company (Jordan)
• Hindustan Salts Limited (India)
• Sanofi (France)
• Satyesh Brinechem. (India)
• AquaChina Chemical (Wuhan) Co.,Ltd. (China)
• Dhruv Chem Industries. (India)