The global bromine market is expected to witness sluggish growth in the forecast period owing to increasing government regulations, according to a report from Persistence Market Research.
Key findings in the global bromine market are as follows:
1. Demand for bromine globally is estimated to reach 483 KMT, compared to 470 KMT in 2015.
2. Flame retardants is the largest segment with estimated consumption of 203 KMT in 2016.
3. Government regulations hampering electronics segment, expected to record lethargic growth.
4. In terms of chemical end use, others segment is anticipated to grow the fastest with a CAGR of 3.7% for the forecast period.
5. In terms of application, oil and gas drillings segment is projected to grow the fastest, while flame retardants is expected to showcase increase at a CAGR of 3.2%.
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6. Oil and gas drilling is anticipated to demand 4.3% more volume of bromine in 2016 compared to the previous year.
7. Rising regulations on the use of bromine in the EU is expected to restrain the global market.
8. Latin America market is projected to grow with opportunities for manufacturers in the region. The global demand is expected to increase 2.0% in 2016 compared to the previous year.
9. North America and Western Europe are projected to witness a slump in demand owing to maturation of the market in the regions.
10. Asia Pacific is expected to dominate the global bromine market. The market region is estimated to value US$ 1,087 Mn in 2016, compared to US$ 895 Mn in 2015. The market is anticipated to increase at a CAGR of 4.1% in terms of revenue for the forecast period.
For more information on the global bromine market, click here. http://www.persistencemarketresearch.com/market-research/bromine-market/toc
Major players in the global bromine market are Albemarle Corporation, Tosoh Corporation, Tetra Technologies Inc., Tata Chemicals Limited, Chemtura Corporation, Israel Chemicals Limited, Gulf Resources Inc., and Hindustan Salts Limited.