Dublin, May 03, 2023 (GLOBE NEWSWIRE) -- The "Global Bromine Market by Derivative (Organobromine, Clear Brine Fluids and Hydrogen Bromide), Application (Flame Retardants, PTA Synthesis, Water Treatment & Biocides, HBR Flow Batteries), End-User & Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The bromine market is projected to grow from USD 3.6 billion in 2023 to USD 4.4 billion by 2028, at a CAGR of 4.2% from 2023 to 2028.

Brominated flame retardants are widely used in plastics, textiles, and rubber to reduce flammability. The increasing use of these commodities is expected to drive the demand for brominated flame retardants, eventually fueling the bromine market.

By derivative, the hydrogen bromide segment is estimated to be the fastest-growing segment of bromine market during 2023 to 2028

Based on derivative, the hydrogen bromide is estimated to be the fastest growing segment during the forecast period. Hydrogen bromide is used in various chemical synthesis as catalyst and reducing agent. It is also used for bromoalkanes formation. Chemical, Plastics and Pharmaceutical industries widely use hydrogen bromide.

By application, the flame retardants segment is estimated to be the fastest-growing segment of bromine market during 2023 to 2028

Based on application, the flame retardants is estimated to be the fastest-growing segment during the forecast period. Textiles, electronics, building materials, plastics, and other industries use flame retardants. Flame retardants primarily comprise bromine are used to reduce the impact of fire damage.

The bromine market in Asia Pacific region is projected to witness the highest CAGR during the forecast period

Asia Pacific region is projected to register the highest CAGR in the bromine market from 2023 to 2028. Asia pacific is one of the key markets for bromine. The region has high demand for bromine due to rising demand from various applications such as flame retardants, oil & gas drilling, PTA synthesis, among others.

Key Attributes:

Report AttributeDetails
No. of Pages309
Forecast Period2023 - 2028
Estimated Market Value (USD) in 2023$3.6 Billion
Forecasted Market Value (USD) by 2028$4.4 Billion
Compound Annual Growth Rate4.2%
Regions CoveredGlobal

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For more information about this report visit https://www.researchandmarkets.com/r/m5o76i

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