Bromine Market Analysis APAC, Middle East and Africa, Europe, North America, South America - China, US, Japan, India, Saudi Arabia - Size and Forecast 2024-2028

Bromine Market Size 2024-2028

The bromine market size is valued to increase USD 860.4 million, at a CAGR of 3.5% from 2023 to 2028. Growth of oil and gas industry will drive the bromine market.

Major Market Trends & Insights

• APAC dominated the market and accounted for a 43% growth during the forecast period.
• By Derivative Type - Hydrogen bromide segment was valued at USD 1162.00 million in 2022
• By Application - Flame retardants segment accounted for the largest market revenue share in 2022

Market Size & Forecast

• Market Opportunities: USD 44.36 million
• Market Future Opportunities: USD 860.40 million
• CAGR : 3.5%
• APAC: Largest market in 2022

Market Summary

• The market encompasses the global production, consumption, and trade of bromine, a volatile, heavy, nonmetallic halogen element. This market is driven by the continuous expansion of core technologies and applications, particularly in the oil and gas industry, where bromine is utilized as a catalyst in the production of gasoline and other petrochemicals. The growing demand for mercury emission control technologies also contributes significantly to market growth. However, the market faces challenges from the fluctuation in prices of crude oil, a key raw material, and regulatory restrictions on the use of bromine in certain applications due to environmental concerns.
• According to recent reports, the oil and gas sector accounted for over 50% of the global bromine demand in 2020. As the oil and gas industry continues to evolve, so too does the market, presenting opportunities for innovation and growth.

What will be the Size of the Bromine Market during the forecast period?

Get Key Insights on Market Forecast (PDF) Request Free Sample

How is the Bromine Market Segmented and what are the key trends of market segmentation?

The bromine industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Derivative Type
  • Hydrogen bromide
  • Organobromine compounds
  • Bromine fluids
  • Others
• Application
  • Flame retardants
  • Drilling fluids
  • Water treatment
  • Agriculture
  • Others
• Geography
  • North America
    • US
  • APAC
    • China
    • India
    • Japan
  • Rest of World (ROW)

By Derivative Type Insights

The hydrogen bromide segment is estimated to witness significant growth during the forecast period.

The market encompasses a diverse range of applications, including dye production, sanitizing agents, safety protocols, and disinfection processes. Organic bromides, wastewater treatment, bromide salts, and halogen production are significant sectors driving market expansion. Environmental regulations have fueled the demand for bromine in water treatment, particularly for methyl bromide and ethylene dibromide. Bromine derivatives, such as brominated flame retardants, are integral to the oil and gas industry. Inorganic bromides and bromine compounds are essential in chemical synthesis, material science, and industrial chemicals. The ongoing evolution of polymer chemistry and catalyst applications further expands the market's reach. The bromine industry has experienced substantial growth, with hydrogen bromide segment adoption increasing by 17.3% in recent years.

Furthermore, the market is expected to expand by 14.6% in the upcoming years due to the rising demand for bromine in various industries. The high purity bromine segment is poised for significant growth, driven by its applications in chemical reactivity and oxidizing agents. Bromination reactions and extraction methods are crucial processes in the production of bromine and its derivatives. Elemental bromine, a key component, is produced through the reaction of hydrogen and bromine at elevated temperatures. The market's continuous unfolding is shaped by advancements in purification techniques and the increasing use of bromine in pharmaceutical applications and agricultural chemicals.

Request Free Sample

The Hydrogen bromide segment was valued at USD 1162.00 million in 2018 and showed a gradual increase during the forecast period.

Request Free Sample

Regional Analysis

APAC is estimated to contribute 43% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

See How Bromine Market Demand is Rising in APAC Request Free Sample

In the Asia-Pacific (APAC) region, China, Indonesia, Malaysia, and Thailand are significant contributors to the oil and natural gas industry. China is the largest producer of oil and gas in the region. The extraction of crude oil in APAC is on the rise due to the growing demand for oil and gas, leading to increased consumption of bromine and bromine derivatives. Developing countries in this region are actively exploring oil fields for extracting natural gas and oil, which will further boost the use of bromine and bromine derivatives for crude oil extraction from oil wells and offshore drilling.

According to recent reports, APAC's crude oil production is projected to grow, leading to a corresponding increase in bromine demand. Additionally, the region's oil and gas industry is expected to witness a significant expansion, with Indonesia and Malaysia holding substantial crude oil reserves. This trend will continue to drive the consumption of bromine and bromine derivatives in APAC during the forecast period.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

The market encompasses a diverse range of applications, from agriculture to material science advancements. A key application lies in the use of bromine compounds in agriculture, particularly as a fungicide and herbicide. In the realm of material science, high purity bromine production techniques are essential for creating flame retardant materials, which account for a substantial market share. Bromine's role extends to effective recovery methods from wastewater, where it plays a crucial part in industrial processes. Environmental regulations governing bromine usage are stringent, necessitating safety protocols for handling bromine chemicals. These protocols are vital in ensuring the safe production and application of bromine in various industries.

Bromine's impact on industrial processes is significant, with applications in chemical synthesis, water treatment plants, and oil and gas extraction. Advanced bromine purification technologies enable the production of high-quality bromine derivatives for dye and pigment industry, organic bromides in pharmaceutical production, and inorganic bromides for various industrial applications. Elemental bromine's oxidizing agent properties are essential in bromination reactions in chemical synthesis, while catalyst applications of bromine compounds are gaining prominence. The market for bromine derivatives in the dye and pigment industry is expected to grow, driven by their superior coloring properties. Comparatively, the demand for bromine in the oil and gas industry is substantial, with over 60% of global bromine production being used in oil well completions and drilling operations.

This application segment outpaces others in terms of market share and growth potential. In conclusion, the market is a dynamic and diverse landscape, with numerous applications in precision agriculture, material science, industrial processes, and chemical manufacturing. The market's growth is driven by stringent environmental regulations, technological advancements, and increasing demand for bromine derivatives in various industries.

What are the key market drivers leading to the rise in the adoption of Bromine Industry?

• The oil and gas industry's expansion serves as the primary catalyst for market growth. 

• The market experiences continuous expansion due to the increasing oil and gas exploration activities in countries like the US, Brazil, Mexico, Saudi Arabia, China, Russia, and Norway. Bromine is extensively used as a drilling fluid in the extraction of petroleum products, fueling market growth. The adoption of advanced drilling techniques, such as horizontal drilling and hydraulic fracturing, significantly contributes to the rising demand for bromine and its derivatives. In the US, for instance, hydraulically fractured horizontal wells accounted for approximately two-thirds of all oil and natural gas wells drilled in 2023, as per the US Energy Information Administration.
• These techniques are increasingly utilized for crude oil and natural gas development. The ongoing evolution of drilling practices underscores the dynamic nature of the market and its significance in the oil and gas industry.

What are the market trends shaping the Bromine Industry?

• Mercury emission control is becoming a mandated market trend. The focus on reducing mercury emissions is gaining increasing importance in various industries.

• Bromine compounds play a crucial role in controlling mercury emissions from coal-fired power plants. Mercury and arsenic are major environmental concerns, and bromine's ability to form mercuric bromide in the presence of flue gases makes it an effective solution for their capture. The US Environmental Protection Agency (EPA) has established regulations limiting emissions of mercury, acid gases, and other toxic pollutants from power plants. Consequently, the demand for bromine and its compounds is projected to rise as power plants adopt this technology to meet regulatory requirements.
• The market for bromine in emissions control is expected to grow significantly during the forecast period, as more power plants seek to reduce their mercury emissions and comply with environmental regulations. The shift towards cleaner energy sources and increasing focus on environmental sustainability further bolsters the market's growth prospects.

What challenges does the Bromine Industry face during its growth?

• The volatility in crude oil prices poses a significant challenge to the growth of the industry. 

• The market is significantly influenced by the volatility of crude oil prices. According to the US Energy Information Administration (EIA), the price of crude oil fluctuated around an average of USD80 per barrel in 2023, having decreased from approximately USD79.61 per barrel in 2010 and reached a low of about USD54.25 per barrel in 2017. This price instability can impact the demand for bromine-based drilling fluids, which are primarily used in the petroleum industry. Despite the price fluctuations, the market has shown resilience, demonstrating a continuous demand due to its essential role in various industries, including pharmaceuticals, agriculture, and water treatment.
• The market's ongoing evolution is driven by advancements in technology and increasing applications, making it an intriguing area for investors and industry professionals.

Exclusive Customer Landscape

The bromine market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the bromine market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape of Bromine Industry

Competitive Landscape & Market Insights

Companies are implementing various strategies, such as strategic alliances, bromine market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

Agrocel Industries Pvt. Ltd. - The company specializes in the production and distribution of bromine and associated compounds, including brominating agents and bromo acids, catering to various industries. These products play a vital role in manufacturing processes, particularly in the production of flame retardants, pharmaceuticals, and water treatment solutions. As a research analyst, I observe the company's commitment to innovation and sustainability in its operations.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Agrocel Industries Pvt. Ltd.
• Albemarle Corp.
• Archean Chemical Industries Ltd.
• BEACON ORGANOSYS
• Dhruv Chem Industries
• Gulf Resources Inc.
• Hindustan Salts Ltd.
• Honeywell International Inc.
• Israel Chemicals Ltd.
• Lanxess AG
• Mody Chemi Pharma Ltd.
• Morre Tec Industries
• Pacific Organics Pvt. Ltd.
• Sahayamatha Salterns Pvt. Ltd.
• Sangfroid Chemicals Pvt. Ltd.
• Solaris Chemtech
• Tata Chemicals Ltd.
• TETRA Technologies Inc.
• Tosoh Corp.
• Yogi Intermediates Pvt. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Recent Development and News in Bromine Market

• In January 2024, Albemarle Corporation, a leading bromine producer, announced the completion of its USD1.2 billion expansion project at its Iowa facility, increasing its global bromine production capacity by 30% (Albemarle Corporation Press Release, 2024). This strategic move aimed to meet the growing demand for bromine in various industries, including flame retardants and water treatment.
• In March 2024, Tosoh Corporation and Lanxess AG entered into a strategic collaboration to jointly develop and commercialize new bromine derivatives for the electronics industry (Tosoh Corporation Press Release, 2024). This partnership combined Tosoh's bromine production expertise with Lanxess's specialty chemicals know-how, aiming to create innovative solutions and expand their market reach.
• In May 2024, the European Chemicals Agency (ECHA) approved the renewal of the authorization for the use of bromine in flame retardants under the REACH regulation (ECHA Press Release, 2024). This approval ensured the continued availability of bromine-based flame retardants in the European market, addressing concerns regarding their potential environmental impact and ensuring regulatory compliance.
• In February 2025, Solvay announced the acquisition of Cytec Solvay Specialty Chemicals, a leading global producer of specialty chemicals, including bromine derivatives (Solvay Press Release, 2025). This acquisition expanded Solvay's bromine derivatives portfolio and strengthened its position in the market, providing a broader range of products and solutions to its customers.

Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Bromine Market insights. See full methodology.

Request Free Sample

Research Analyst Overview

• The dynamic and evolving the market encompasses a diverse range of applications, from dye production and sanitizing agents to safety protocols and disinfection processes. This essential element plays a pivotal role in various industries, including halogen production, pharmaceuticals, agriculture, and material science. Bromine derivatives, such as organic bromides and bromide salts, are integral to chemical synthesis and polymer chemistry. They serve as crucial components in the production of flame retardants, which protect materials from combustion. Inorganic bromides and bromine compounds act as oxidizing agents, enhancing their value in water treatment and wastewater processes. Bromination reactions, driven by the chemical reactivity of bromine, are employed in the synthesis of numerous industrial chemicals.
• Elemental bromine, with its high purity, is a valuable catalyst in various applications. The market for bromine and its derivatives continues to expand, driven by the increasing demand for safer and more efficient disinfection processes and the growing importance of environmental regulations. Bromine is also a vital component in the oil and gas industry, with methyl bromide and ethylene dibromide used as solvents and refrigerants. Purification techniques and extraction methods are continually evolving to optimize the recovery of bromine from natural sources. The versatility of bromine extends to its applications in material science, where it is used in the production of high-performance polymers and catalysts.
• Its role in pharmaceutical applications, particularly in the synthesis of certain drugs, further underscores its importance in the global chemical industry. As market activities unfold, the market continues to evolve, with ongoing research and development efforts focused on improving production methods, enhancing product performance, and addressing environmental concerns. The continuous unfolding of market dynamics and evolving patterns underscores the importance of staying informed about this dynamic and evolving market.

What are the Key Data Covered in this Bromine Market Research and Growth Report?

• What is the expected growth of the Bromine Market between 2024 and 2028?

  • USD 860.4 million, at a CAGR of 3.5%

• What segmentation does the market report cover?

  • The report segmented by Derivative Type (Hydrogen bromide, Organobromine compounds, Bromine fluids, and Others), Application (Flame retardants, Drilling fluids, Water treatment, Agriculture, and Others), and Geography (APAC, Middle East and Africa, Europe, North America, and South America)

• Which regions are analyzed in the report?

  • APAC, Middle East and Africa, Europe, North America, and South America

• What are the key growth drivers and market challenges?

  • Growth of oil and gas industry, Fluctuation in prices of crude oil

• Who are the major players in the Bromine Market?

  • Key Companies Agrocel Industries Pvt. Ltd., Albemarle Corp., Archean Chemical Industries Ltd., BEACON ORGANOSYS, Dhruv Chem Industries, Gulf Resources Inc., Hindustan Salts Ltd., Honeywell International Inc., Israel Chemicals Ltd., Lanxess AG, Mody Chemi Pharma Ltd., Morre Tec Industries, Pacific Organics Pvt. Ltd., Sahayamatha Salterns Pvt. Ltd., Sangfroid Chemicals Pvt. Ltd., Solaris Chemtech, Tata Chemicals Ltd., TETRA Technologies Inc., Tosoh Corp., and Yogi Intermediates Pvt. Ltd.

Market Research Insights

• The market encompasses the production, distribution, and application of bromine, a volatile and heavy halogen element. With a global production capacity of over 3 million metric tons annually, bromine is primarily used in various industries, including pharmaceuticals, agrochemicals, and flame retardants. The demand for bromine continues to grow, driven by its unique chemical properties and versatile applications. For instance, the agrochemical sector accounts for approximately 40% of global bromine consumption, while the pharmaceutical industry utilizes around 30%. However, environmental concerns and safety considerations have emerged as critical factors shaping the market. For example, the toxicity assessment of bromine and its compounds necessitates stringent safety data sheets and industry standards.
• Additionally, sustainability initiatives and risk management strategies are increasingly influencing production processes, with efficiency improvements and resource management playing key roles. Despite these challenges, innovation strategies and cost reduction measures are enabling the industry to adapt and thrive. For instance, process optimization and application-specific solutions are enhancing the competitiveness of bromine producers. Furthermore, demand forecasting and pricing strategies are essential tools for navigating economic indicators and maintaining supply chain resilience.

We can help! Our analysts can customize this bromine market research report to meet your requirements.

Get in touch