Bromine Derivatives Market To Generate Revenue Worth $5,614.1 Million by 2030

The bromine derivatives market is projected to grow at a CAGR of 3.7% during 2024–2030, to reach USD 5,614.1 million by 2030. This will be due to the varied applications of these chemicals in the oil & gas, pharmaceuticals, automotive, and electronics industries. Bromine and its derivatives have various applications, such as drilling fluids and flame retardants. Moreover, in the pulp & paper industry, one of bromine’s derivatives, 1,3-dibromo-5,5-dimethylhydantoin (DBDMH), is used as a bleaching agent.

Rising Demand for Water Treatment Chemicals

DBDMH is extensively used as a disinfectant in the treatment of recreational water, with a somewhat restricted usage in the purification of drinking water. It is also used in the treatment of commercial and industrial water-cooling systems to prevent microbial growth and maintain water quality. The robust expansion of the water treatment sector is, thus, expected to be a potent catalyst for the increase in the utilization of bromine derivatives.

Growing Demand for Brominate Derivatives across Multiple Industries

The rising demand for biocides is another major factor propelling the growth of the bromine derivative market, as bromine derivatives are widely used as an ingredient of biocides. These substances are designed to eliminate microorganisms, prolong the shelf life, and preserve the quality of various products, such as coatings & dyes, cosmetics, adhesives & sealants, cleaning materials, and wood & paper.

Additionally, disinfectants, which often are aqueous solutions of halogenated compounds, are effective at destroying microbes. Biocides are categorized into two types: oxidizing and non-oxidizing. The former are composed of elemental bromine and other compounds and find usage in sanitary disinfection, swimming pools, cooling towers, municipal sewage treatment, and pre-treatment processes. This is because they reduce the need for controlling the pH using other chemicals for efficacy.

Rapid Growth Predicted in Pharmaceutical Applications

The pharmaceutical category, under the end user segment, is expected to witness a high CAGR during the forecast period. This is because bromine derivatives have applications in the synthesis of numerous pharmaceutical compounds. Bromine derivatives are not active pharmaceutical ingredients, but serve as intermediates or reagents in the production of various pharmaceuticals. Bromine is the choice of halogen elements used in the synthesis process due to its unique properties, such as a liquid state at room temperature, lower boiling point compared to other halogens, and high selectivity in the reaction.

The bromine derivatives used for specific applications may undergo changes to meet the regulatory standards and optimize manufacturing and synthesis, thus resulting in cost-effective production. This will be in line with the evolution of the pharmaceutical research and development ecosystem and the strengthening of the industry's emphasis on safety, efficiency, and sustainability.

Calcium Bromide Consumption Is Growing at Rapid Rate

The calcium bromide (CaBr) category is expected to progress considerably over this decade due to the growing production of flame retardants with a polymer brominated base. Brominated flame retardants are utilized in electronic housing and electric connectors, along with rigid and flexible polyurethane foam. They interrupt the fire cycle in the gaseous phase, which stops the chemical chain reaction and slows the fire's spread, thus giving additional time for the evacuation of people.

Asia-Pacific Is Rapidly Growing in Bromine Derivative Market

The Asia-Pacific region, with its growing industrialization and construction activities, offers a significant market for these products, which will be the fastest-growing in the future. India, Vietnam, Thailand, and Indonesia offer significant opportunities in the market, given their expanding populations and increasing investments in research and development for newer and more-versatile bromine derivatives.

The region is also experiencing a surge in R&D activities in this area, with China ranking second to the U.S. and accounting for 14% of the new pipeline assets. Japan and South Korea follow closely, each accounting for around 5% of these developments.

Some of the key players are Albemarle Corporation, Honeywell International Inc., TETRA Technologies Inc., Tosoh Corporation, Lanxess AG, Neogen Chemicals Limited, Israel Chemicals Limited, Tata Chemicals Limited, Gulf Resources Inc., and Jordan Bromine Company.