Northrook, IL -- (SBWIRE) -- 10/23/2019 -- The Bromine Market is estimated to grow from USD 2.5 billion in 2016 to reach approximately USD 4.0 billion by 2022, at a compound annual growth rate (CAGR) of 8.4% during the forecast period. The market is fueled by the increasing use in mercury emission control in coal-fired power plants and also due to the demand for flame retardants triggered by strict fire safety regulations.

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The bromine market consists of several players such as Israel Chemicals Limited (Israel), Tosoh Corporation (Japan), Albemarle Corporation (US), Chemtura Corporation (US), Tata Chemicals Ltd. (India), Gulf Resources Inc. (China), Hindustan Salts Limited (India), TETRA Technologies, Inc. (US), Honeywell International Inc. (US), and Perekop Bromine (Republic of Crimea).

Growth Drivers
- Growing use of bromine in mercury emission mitigation
- Increasing demand for flame retardants due to stringent fire safety framework
- Extensive consumption of bromine in diverse applications

Organobromine was the largest derivative of bromine in 2016.
The market has been segmented based on derivative, into three categories, namely, organobromine, clear brine fluids, and HBr. Organobromine was the largest segment of the market in 2016. It is used widely in manufacturing flame retardants for the electronics and automotive industries. Organobromine is also used for producing pesticides. The second-largest segment of the market in 2016 was clear brine fluids due to the growing shale gas recovery operations in the Asia Pacific.

Oil & gas drilling application is projected to register the highest CAGR in the market during the forecast period.
The fastest-growing application segment of the bromine market is oil & gas drilling. Clear brine fluids are used extensively in oil & gas drilling operations. They help in controlling formation pressure and reducing damages in the reservoir. The Asia Pacific is the dominant market in this segment due to the large presence of shale gas reserves in China. The increasing operations for the recovery of shale gas are likely to support the growth of the market in the oil & gas drilling segment.

The Asia Pacific accounted for the largest share of the market in 2016.
The Asia Pacific region is witnessing economic growth at a rapid pace. The consumption of bromine is increasing in several industries such as automotive, electronics, oil & gas, and construction. The demand for flame retardants has increased in the automotive and construction industries due to the growth of the infrastructure sector. All these factors collectively have contributed to the rise of Asia Pacific as the leading market for bromine. As the region is an emerging economy, bromine manufacturers are expected to leverage many market growth opportunities in the future.

Growing use of bromine in mercury emission mitigation

Many companies are extensively using bromine to mitigate mercury emissions at coal fired power plants. In these plants, mercury is released when coal is burned taking three forms of the flue gas- elemental, oxidized, and particulate. Bromine compounds bond with mercury in flue gases, creating mercuric bromide, a substance that is more easily captured in flue-gas scrubbers than the mercuric chloride that is produced at many facilities. Therefore, chemical additives have been developed to oxidize the mercury in the flue gas, converting it to a form, which can be captured by the current abatement equipment. Calcium bromide (CaBr2) is one of the chemical additives that have been developed as a mercury-specific control technology. CaBr2 is effective in reducing total mercury emissions by oxidizing mercury that is then captured by the abatement equipment. Thus, the extensive use of bromine salts (for instance, CaBr2) in mercury mitigation drives the bromine market, globally.

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Studies show that these emissions amount for about half of the total mercury emissions in the air. The coal plants eject mercury in the form of methyl mercury. Methyl mercury is a toxic form of mercury affecting the nervous, immune, and enzyme systems. A developing fetus is five to ten times more sensitive to methyl mercury than an adult. Therefore, women who consume large quantities of contaminated fish give birth to children with neurological disorders, for instance, learning disabilities.

Major Market Developments:
- In January 2017, Israel Chemicals Limited (Israel) and The Institute of Chemistry, Hebrew University of Jerusalem, Israel developed a unique bromine-based perovskites material for use in the next generation photovoltaic cells. They offer superior cost/performance ratio compared with silico-based photovoltaic and are rapidly developing as a viable industrial alternative. Unlike the common iodide-based perovskites, the bromide-based perovskites offer specific advantages such as record power conversion efficiency, high open circuit voltage, and high stability.
- In February 2016, Albemarle (US) and ICL (Israel) entered into a long-term supply agreement for sustainable polymeric flame retardants. This agreement will facilitate the supply of GreenCrest, a sustainable flame retardant alternative to hexabromocyclododecane (HBCD)-based flame retardants, on a commercial scale. This benefited the customers and helped companies broaden their product portfolio.
- In April 2017, LANXESS (Germany) acquired Chemtura (U.S.), one of the world's leading suppliers of flame retardant and lubricant additives. The acquisition helped the company expand its additives portfolio to make it one of the world's leading players in the specialty chemicals industry. The acquisition also helped the company increase its footprint in the North American region.

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