Organic Bromide Market to Pave Path for Augmented Revenue during the Period betw

Posted by Arslan on August 14th, 2019

Bromine is a naturally occurring element found in the sea, lakes and underground wells. Organic bromide is a derivative of bromine. Organic Bromide is widely used as a reactant and catalyst for manufacturing variety of products such as agrochemicals, biocides, water disinfectants, pharmaceutical intermediates, dyes, completion fluids, flame retardants and photographic chemicals, among others. Bromine resources are geographically distributed, with the Dead Sea being the rich resource of bromine, with concentration of 10–12 gram per liter.

Israel is one of the large producers of bromine, followed by the U.S. and China. The chemical industry is the prominent consumer of organic bromide compounds, followed by the oil & gas and pharmaceuticals. Organic bromide compounds are generally categorized into alkyl bromide, bromide polymers and other compounds. In most of the industries, organic bromide is prevalently used as flame retardant, bodices, PTA synthesis and for mercury removal.

Organic bromide compounds are commonly used as flame retardants. Majority of the organic bromide produced globally is consumed by the rubber and plastics industries for manufacturing various flame retardant products. These flame retardants find wide applications in plastics, textiles, and electrical/electronic products. Besides, plastic plays a significant role in the building, construction, electrical & electronics, and automotive industries. Thus, growing demand for flame retardants from the rubber & plastic industries is expected to drive the growth of the organic bromide compounds market.

Moreover, organic bromide is mainly used in synthesis of purified terephthalic acid (PTA) produced through the oxidation of p-Xylene. Sodium bromide, hydrogen bromide or tetrabromomethane (organic bromide) are used for it. PTA is widely used for manufacturing polyester fiber and polyethylene terephthalate (PET). The pharmaceuticals industry is one of the major consumers of organic bromide compounds. Organic bromide compounds are used in this industry as a raw material to manufacture active pharmaceuticals ingredients and products, including analgesics, sedatives, and antihistamine.

Thus, significantly expanding pharmaceuticals and chemical industries across the globe, especially in developing countries such as China and India, is expected to be a key factor driving the growth of the global organic bromide market. However, restrictions over the use of few organic bromide compounds in developed regions such as Europe and North America may hamper the growth of the global market.

Organic Bromide Market: Regional Outlook

In terms of consumption, the global organic bromide market is dominated by China. The significant growth of polymer & plastics, chemical and automotive industries in China and India have consequently resulted into increase in demand for organic bromide as chemical intermediate, flame retardants and catalyst. The China organic bromide market is expected to register significant CAGR growth over the forecast period. In terms of raw material availability, Israel dominates the global market and accounts for around 80% of total raw material production, i.e., bromine. North America and Europe are the major markets for organic bromide after APAC. The stringent governmental regulations in Europe and North America over the manufacturing industry may hamper the growth of organic bromide market in these regions. In Europe and North America, the organic bromide market is expected to register moderate growth over the forecast period. Latin America and the MEA organic bromide markets are expected to register slow growth over the forecast period.  

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application and industry.

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