Israel Chemicals Ltd (ICL), LANXESS Corporation, Albemarle Corporation, Jordan Bromine Company (JBC), and Tata Chemicals Ltd., among others, are the major players in the global bromine market.
The global bromine market is expected to grow at a CAGR of 5% in the forecast period of 2023-2028. As per the analysis by Expert Market Research, the market is being driven by the growing demand for bromine in various applications.
There is a growing demand for bromine in various applications like biocides, fine chemicals, Clear Brine Fluids (CBF), and agricultural products, among others. Bromine-based biocides are effective against microbes, algae, molluscs, and fungi, among others, due to which they are extensively used to offer enhanced protection in industrial and commercial water systems.
Bromine and its derivatives, including bromide salts and hydrogen bromide, among others, are used in various end-use sectors owing to their flame-retardant properties. With increasing stringent regulations to reduce the risk of fire hazards in several industries, the use of bromine is significantly rising. Moreover, the recyclability of bromine and its derivates is anticipated to boost its utilisation as a flame retardant in sustainable applications in the forecast period.
The usage of bromide in consumer electronics like refrigerators, televisions, and washing machines, among others, is growing, as such products are highly flammable. Various leading chemical companies are increasingly investing to boost their manufacturing capabilities of flame-retardant additives amid the rising demand for fire safety products in the transportation, safety, and green energy sectors. For instance, in November 2022, Albemarle Corporation announced investments worth USD 540 million for modernising and expanding its two bromine facilities in Arkansas.
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|Headquarters:||Tel Aviv-Yafo, Israel|
Israel Chemicals Ltd. Is a leading speciality mineral company that addresses challenges in the agricultural, industrial, and food sectors through its innovative products. It aims to create impactful solutions for driving sustainability. It leverages unique phosphate, bromine, and potash resources to drive growth across its end-use markets. In September 2022, the company launched epo.x, which is a biodegradable release technology that is designed for open-field agriculture.
LANXESS Corporation is a prominent speciality chemicals company that is engaged in the development, marketing, and manufacturing of chemical additives and intermediates as well as consumer protection products. The company includes 11 business units, through which it offers innovative solutions to various sectors and applications. It leverages innovative technologies, including AI, to efficiently provide innovative materials, products, and services.
|Headquarters:||North Carolina, United States|
Albemarle Corporation is one of the most significant producers of bromine, lithium, and catalyst solutions. Its products are utilised in major sectors like transportation, energy, and electronics. The company collaborates with customers to develop customised and value-added products to enhance its competitiveness in the global market.
Jordan Bromine Company is a company that produces and distributes bromine and its derivatives, based in Jordan. It owns and operates one of the largest bromine plants in the world. Its products are marketed and sold in more than 30 countries across Europe, the Asia Pacific, North America, and the Middle East. It actively collaborates with industry leaders to enhance its sustainability efforts and reduce its environmental footprints.
Tata Chemicals Ltd. is a company involved in the marketing and development of crop protection, chemicals, and specialty chemical products. It is one of the most prominent chemical companies in the world, and it owns the largest saltworks in Asia. It is also one of the major manufacturers of sodium bicarbonate and soda ash. Through its advanced research and development capabilities in biotechnology and nanotechnology, the company intends to develop sustainable chemical products.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.