Ballooning Usage of Eco-Friendly Flame Retardants Fueling Global Bromine Market Boom

The global bromine market generated a revenue of $1,864.3 million in 2019. Furthermore, it will advance at a CAGR of 5.7% between 2020 and 2030, as per the estimates of P&S Intelligence, a market research company based in India. The market is being driven by the growing usage of bromine compounds for reducing mercury emissions, surging utilization of environment-friendly polymeric flame retardants, and the soaring adoption of clear brine fluids during drilling for oil and gas. 

Clear brine fluids are heavily used in gas and oil drilling activities, on account of their ability to reduce the temperature and bottom hole pressure in the borewells. Many soluble salts are added to them after taking into consideration the clarity, temperature/pressure freeze points, and freezing points of the wells. Brines exhibit high wellbore stability in the salt, lesser fine-hole formation, fill, and gauge damage, and faster shale penetration than the other fluids.

When application is taken into consideration, the bromine market is categorized into flame retardants, clear brine fluids, water treatment, and pharmaceuticals. Amongst these, the flame retardants category led the market in 2019, due to the fact that various bromine compounds such as ethyl bromide, allyl bromide, vinyl bromide, and ammonium bromide are extensively used in fire extinguishers and retardants. These chemicals not only help in putting out the fire, but they also reduce the flammability of the materials containing them. 

Across the globe, the Asia-Pacific (APAC) region is predicted to generate the highest revenue in the bromine market till 2030. This will be because of the surging urban population and the increasing disposable income of the people residing in the region. Additionally, the soaring demand for electronic and plastic products in the regional countries such as Japan, Thailand, South Korea, and China is also driving the market expansion, as bromine-based flame retardants are heavily used in these products.  

Hence, it is safe to say that the market will register rapid expansion in the upcoming years, mainly because of the surging requirement for clear brine fluids in oil and gas E&P activities and the rising popularity of polymeric flame retardants across the world.

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