ICL Group Ltd. (Israel) and LANXESS AG (Germany) are Leading Players in the Bromine Market

ICL Group Ltd. (Israel), Albemarle Corporation (US), LANXESS AG (Germany), Tosoh Corporation (Japan), Solaris Chemtech Industries Ltd. (India), Gulf Resources Inc. (China), TETRA Technologies, Inc. (US), TATA Chemicals Limited (India), Honeywell Internati

(EMAILWIRE.COM, October 29, 2021 ) The bromine market is projected to grow from USD 3.3 billion in 2021 to USD 4.1 billion by 2026, at a CAGR of 4.5% from 2021 to 2026. The increasing demand for bromine in flame retardants, mercury emission control, water treatment, and oil & gas drilling is expected to drive the bromine market.

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On the basis of derivative, the organobromine segment accounted for the largest share of the bromine market in 2020.
By derivative, the organobromine segment accounted for the largest share of the bromine market in 2020. Organobromine compounds, such as tetrabromobisphenol-A, hexabromocyclododecane, and the bromodiphenyl ethers, are used as flame retardants in many industries, mainly electronics, textile, and plastics. The major applications of organobromine are flame retardants and biocides. Some organobromine derivatives are also used in water treatment applications, such as the cleaning up of pools and spas. They are an important ingredient for making dyes. Organobromines are used as intermediates for preparing pharmaceuticals like nicergoline and brotizolam. and as an anticancer agent pipobroman. Bromoform and dibromodimethylhydantoin organobromine are used in water treatment applications, to prevent the growth of algae, bacteria, and other microorganisms as well as for the prevention of foul odor in water. The flourishing electronics & telecommunication, textile, plastic, and construction industries are expected to drive the market for organobromine.

Asia Pacific is projected to register the fastest growth from 2021 to 2026
The Asia Pacific region accounted for the largest share of the bromine market in 2020. China, India, Japan, and South Korea are key countries contributing to the increased demand for bromine in this region. Substantial development in infrastructure and increasing demand for flame retardants in the automobile and building & construction end-use industry are expected to drive the bromine market in this region.

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ICL Group Ltd. (Israel), Albemarle Corporation (US), LANXESS AG (Germany), Tosoh Corporation (Japan), TATA Chemicals Limited (India), Gulf Resources Inc. (China), TETRA Technologies, Inc. (US), Solaris Chemtech Industries Ltd. (India), Honeywell International Inc. (US), and Perekop Bromine (Russia) are some of the leading players operating in the bromine market. These players have adopted the strategies of expansion, new product development, investments, acquisitions, and agreements to enhance their position in the market.

In line with the rising demand for bromine, in September 2019, ICL Group Ltd. announced that it plans to expand its bromine compounds capacity to approximately 25,000 metric tons annually. The company will invest approximately USD 50 million for this expansion and is expecting a return of USD 110 million. This expansion comes amidst the company’s strategic agreements signed with many customers from Asia.

LANXESS AG, in July 2019, announced the completion of its plant expansion of Emerald Innovation 3000. The debottlenecking project increases the sustainable output from 10,000 to 14,000 MT per year. Emerald Innovation 3000 is now being used as a flame retardant for expanded (EPS) and extruded (XPS) polystyrene instead of hexabromocyclododecane (HBCD), which has been banned. This product is manufactured via the bromination of an alternating polystyrene butadiene copolymer.

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