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The Business Research Company's Bromine Derivatives Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, September 30, 2024 /EINPresswire / -- The bromine derivatives market has experienced robust growth in recent years, expanding from $4.85 billion in 2023 to $5.12 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to shift towards halogenated chemical, demand in electronics and construction, agricultural and veterinary applications, chemical manufacturing, flame retardant demand.
What Is The Estimated Market Size Of The Global Bromine Derivatives Market And Its Annual Growth Rate?
The bromine derivatives market is projected to continue its strong growth, reaching $6.55 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to focusing on environmentally friendly solutions, shift towards halogenated chemicals, agriculture and veterinary applications, oil & gas industry expansion, water treatment needs.
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Growth Driver Of The Bromine Derivatives Market
The expansion of oil and gas exploration activities is expected to propel the growth of the bromine derivatives market going forward. Oil and gas exploration refers to the procedures and techniques used to identify possible locations for oil and gas drilling and extraction from natural oil seeps, as well as offshore exploration. In oil and gas exploration activities, oil and gas drilling fluids use bromine derivatives, especially bromides, as completion and workover fluids for water treatment, drilling fluids, and well stimulation, among others.
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Which Market Players Are Driving The Bromine Derivatives Market Growth?
Key players in the market include Albemarle Corporation, Israel Chemicals Limited, Lanxess Corporation, Hindustan Salts Limited, Honeywell International Inc., Tata Chemicals Ltd., Tetra Technologies Inc., Jordan Bromine Company Ltd., Beacon Organosys Pvt. Ltd., Morre-Tec Industries Inc., Chemtura Corporation, Gulf Resources Inc., Neogen Chemical Limited, Perekop Bromine Factory, Dhruv Chem Industries, Haiwang Fine Chemical Co. Ltd., Sanofi S.A., ICL Industrial Products, Solaris Chemtech Industries Limited, Noah Technologies Corporation, American Elements Corporation, Chemada Fine Chemicals Co. Ltd., Evergrow International LLC, Jiangyin Chengxing Industrial Group Co. Ltd., Tosoh Corporation.
What Are The Emerging Trends Shaping The Bromine Derivatives Market Size?
Major companies in the bromine derivatives market are focused on strategic collaboration with major manufacturing companies to strengthen their position in the market. Strategic collaborations empower companies to forge alliances with other firms possessing the necessary expertise to transform their envisioned concepts into tangible realities.
How Is The Global Bromine Derivatives Market Segmented?
1) By Derivative: Sodium Bromide, Calcium Bromide, Zinc Bromide, TBBPA, DPDPE, Other Derivatives
2) By Application: Flame Retardants, Safety Apparel, Organic Intermediates, Oil and Gas Drilling, Biocides, PTA Synthesis, Other Applications
3) By End Use: Chemical, Construction, Oil and Gas, Pharmaceuticals, Electronics, Other End Users
Geographical Insights: Asia-Pacific Leading The Bromine Derivatives Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Bromine Derivatives Market Definition
Bromine derivatives refers to a chemical compound formed from the bromine atom. It is primarily used for halogenated frame retardants and mercury emissions and is used in various industries verticals.
Bromine Derivatives Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global bromine derivatives market report covering trends, opportunities, strategies, and more
The Bromine Derivatives Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on bromine derivatives market size, bromine derivatives market drivers and trends and bromine derivatives market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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