The global bromine derivatives market valued at $826.2 million in 2020. The market is forecast to grow at a CAGR of 4.9% during the forecast period from 2021-2027. 

An element of non-metallic nature, bromine exists at room temperature as a reddish-brown liquid and it has properties almost identical to chlorine and iodine and has a choking and irritating smell. It is possible to make bromine derivatives by making sodium bromide (NaBr), zinc bromide (ZnBr2), calcium bromide (CaBr), among other substances. The petroleum industry, pharmaceutical industry, construction industry, and many others use bromine derivatives. Typical applications of bromine derivatives are the control of halogenated flame retardant emissions and mercury emissions. Additionally, bromine derivatives play a crucial role in the development of rechargeable batteries for electronic devices. The extraction of crude oil, for example, is done with bromine derivatives.

Factors Affecting the Global Bromine Derivatives Market 

• Bromine derivatives are expected to grow in popularity due to the growing demand for them in the automotive and consumer electronic sectors.
• In the coming years, bromine derivatives will be used in the drilling of liquids for extracting petroleum products, which will boost the market growth for bromine derivatives.
• Bromine derivatives will experience continued growth in the global market due to the growing application in the textile industry coupled with the significant growth of urbanization.
• Potential restraints to the market growth are the rising concerns regarding halogenated flame retardants.
• With the advancement in technology, the increasing application of bromine derivatives like zinc bromide (ZnBr2), which is used in radiation shields, and the potential for growth in emerging markets there are favorable growth prospects.

Covid-19 Effects on the Global Bromine Derivatives Market

• There was a price war in crude oil during the lockdown due to extensive supply and reduced demand. Despite this, oil production continues to dominate the bromine derivatives market due to its extensive output.
• Bromine derivatives have been adversely affected by the decrease in exports and imports. This has a negative impact on industries that utilize bromine derivatives and has further adverse effects on the market for bromine derivatives. 
• This will cause a reduction in sales of bromine derivatives as a result of a decrease in the supply of the workforce, resulting in a decline in production. In the forecast period, this will likely affect the market's growth. 
• The automotive industry reported a decrease in passenger and commercial vehicles on road (in 2020) amid the Covid-19 outbreak lockdown. Further decreasing bromine derivatives demand has been caused by an interrupted supply chain, leading to the hampered bromine derivatives market.
• Amid a lockdown, numerous large projects were put on hold due to the outbreak of the Covid-19 pandemic. Therefore, the global market for bromine derivatives declined as a result of a decline in demand.

Regional Analysis of the Global Bromine Derivatives Market

The largest market share belongs to Asia-Pacific. China and India are experiencing booming consumption and manufacturing activities, which have prompted many companies to have full-scale operations in the Asia Pacific region. Several companies are focusing heavily on research and development activities, and ongoing projects will boost the Asia Pacific market shortly.

Key Companies in the Global Bromine Derivatives Market

Several prominent companies in the global bromine derivatives market are:

• Hindustan Salts Limited
• Gulf Resources Inc
• Perekop Bromine
• Honeywell International Inc
• Albemarle Corporation
• LANXESS Corporation
• Tata Chemicals Limited
• Israel Chemicals Limited
• TETRA Technologies, Inc.
• Tosoh Corporation
• Other Prominent Players

Aim of the Report: The Global Bromine Derivatives Market

The global bromine derivatives market is segmented by Derivative, End-Use, Application, and Region.

Segmentation based on Derivative

• Brominated Polystyrene
• Tetrabromobisphenol A
• Calcium Bromide
• Sodium Bromide
• Zinc Bromide
• Hydrobromic Acid
• Decabromodiphenyl Ethane (DBDPE) 
• Others

Segmentation based on End-Use

• Chemical
• Construction
• Oil & Gas
• Pharmaceuticals
• Electronics 
• Others

Segmentation based on Application

• Flame Retardants
• Organic Intermediates
• Oil & Gas Drilling
• Biocides
• PTA Synthesis 
• Others

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America