The U.S. bromine market witnessed a valuation of US$ 604 million in 2020 and is anticipated to exceed US$ 780 million by 2027. The market growth is primarily attributed to increased applications of flame retardants in domestic and commercial settings, alongside the rising adoption of hydrogen bromide. The U.S. maintains its position as a significant bromine producer globally, with China, Israel, and Jordan also being major contributors to elemental bromine production.
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Market Drivers:
Mercury Emission Mitigation: Bromine-based technologies play a crucial role in reducing mercury emissions, with a success rate of up to 90%. As mercury emission remains a significant environmental concern, particularly in coal power plants, the demand for bromine-based compounds is witnessing a notable increase.
Versatile Applications: Bromine finds versatile applications across various sectors such as oil & gas drilling, flame retardants, water treatment, pharmaceuticals, and more. This versatility contributes to the high demand for bromine, with flame retardants being one of the largest application segments globally.
Disinfectant Demand Amid COVID-19: The COVID-19 pandemic has led to a surge in demand for disinfectants, many of which are manufactured using bromine. This increased demand is expected to drive exponential growth in the bromine market throughout 2021.
Market Restraints:
Environmental Concerns: Growing environmental concerns regarding the toxicity of bromine-based flame retardants are expected to hinder market growth. Some countries have already ceased production of halogenated flame retardants due to environmental regulations, posing a challenge to the U.S. bromine market.
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Competitive Landscape: Major players in the U.S. bromine market include Albemarle Corporation, Lanxessa AG, Mil-Spec Industries, BariteWorld, Tetra Technologies, and Unibromo USA. These companies play a crucial role in supplying bromine derivatives and related products to meet market demand.
Recent Developments:
Albemarle Corporation: Selected by the U.S. Department of Energy for lithium research projects, showcasing its role as a critical partner in the energy sector.
TETRA Technologies, Inc. and Halliburton: Entered into a joint marketing and development agreement for the sale and distribution of completion fluids, highlighting collaboration in the oil and gas industry.
Segmentation:
By Derivatives: Organobromine, Clear Brine Fluids, Hydrogen Bromide (HBR)
By Application: Flame Retardants, Oil & Gas Drilling, PTA Synthesis, Water Treatment, Mercury Emission Control, Pesticides, HBR Flow Batteries, Plasma Etching, Pharmaceuticals, Others (Photography, Chemical Intermediates Synthesis, Adhesive Tapes, and Rubbers)
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