Yahoo Finance Organobromine Market to Value $2.5 Bn by 2030, Says The Brainy Insights
The market for organobromine is anticipated to be driven by the expanding textile, plastic, electronics & telecommunications, and construction sectors. Asia-Pacific region is anticipated to dominant the overall market during the projection period.
Newark, Dec. 05, 2022 (GLOBE NEWSWIRE) -- The Organdominate market was estimated at around USD 1.6 billion in 2021, growing at a CAGR of nearly 5% during 2022-2030. The market is projected to reach approximately USD 2.5 billion by 2030.
Organic molecules known as organobromine compounds have a chemical connection between the carbon atom and the bromine atom. It is also believed that the naturally occurring bromomethane is widely dispersed. Additionally, polybrominated diphenyl ethers, which are frequently employed as flame retardants, are one of the principal applications. Numerous minuscule organobromine compounds can also be found in nature. Organobromine is a crucial component used in the pharmaceutical and dye industries. The expansion of these end-user industries is the main factor driving the demand for organobromine. The current state of the world shows that the use of organobromine in the pharmaceutical sector is expanding extremely quickly. In the upcoming years, this is anticipated to fuel the growth of the worldwide organobromine market.
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Growth Factors
Biocides and flame retardants both use chemicals containing organobromine. The pool & spa and water industries use a few of the organobromine derivatives for water treatment applications. Derivatives of organobromine inhibit the development and expansion of bacteria, algae, and bad smells in water. Organobromine compounds are also employed in the production of colors. Pharmaceuticals such hypnotics, anticonvulsants, and sedatives are made using organobromines as intermediates. One of the main factors propelling the expansion of the global organobromine market is the increased demand for flame retardants as a result of strict fire safety laws, as well as the expanding shipbuilding and electronics sectors. The global consumption of flame retardants is rising. Millions of dollars' worth of property worldwide is destroyed each year as a result of fire-related mishaps. The devastation of property, infrastructure, and human life during fire disasters requires insurance companies to spend a sizeable amount of their profits on paying claims. For example, since they lower the risk of fire for almost every produced commodity, flame retardants and anti-inflammatory medications are crucial. By delaying the combustion process and so putting out fires, flame retardants produce a coating of free radicals. When free radicals interact with oxygen molecules to prevent oxidation, they either release carbon dioxide or produce it themselves. Because fire incidents are occurring more frequently worldwide, there is a higher need for materials having fire-retarding properties. Bromine compounds will keep playing a significant role in the expansion of bromine sales during the report's evaluation period due to their extensive use in flame retardants and their high fire resistance.
The anticancer drug pipobroman and pharmaceuticals like nicergoline and brotizolam are both made from organobromines as intermediates. In water treatment applications, bromoform and dibromodimethylhydantoin organobromine are used to stop the growth of bacteria, algae, and other microorganisms as well as to stop the stench of the water. The booming textile, plastic, electronics & telecommunications, and construction industries are predicted to dominate the organobromine market.
Moreover, the market is also driven by the growth of the oil and gas industry. The rise in oil and gas exploration as well as the widespread use of bromine as a drilling fluid for the extraction of petroleum products, will both contribute to the growth of the global bromine and bromine derivatives market. Additionally, due to the rising popularity of hydraulic fracturing and horizontal drilling techniques, the consumption of bromine and bromine derivatives will rise during the projection period.
Segmental Overview
The market for organobromine market is segmented into the application, and region. According to the application, the flame retardants segment is expected to increase at the quickest rate. Due to its capacity to reduce the combustibility of burnable materials, the use of brominated flame retardants is growing. It is extensively used in electronic castings, circuit processing, and printed circuit boards (PCBs). While in plastic items, brominated flame retardants are typically added to polymeric resins to delay the combustion of fire. As a result, plastic is increasingly being used in a variety of industries, including those that produce building and construction materials, aerospace, and automobiles. As a result, over the forecast period, the growth of the market for brominated flame retardants would be aided by the rising demand for the product's end use industry.
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Report Scope
Base Year | 2021 |
Forecast period | 2022-2030 |
Report Coverage | Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends |
Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
Market Size(unit) | USD Billion |
Organobromine Market CAGR | 5% |
Segments Covered | By Application |
List of the prominent players in the Global Organobromine market:
• ICL
• LANXESS
• Tata Chemicals Ltd.
• Gulf Resources, Inc.
• Honeywell International Inc.
• Jordan Bromine Company
• Hindustan Salts Limited
• Sanofi
• Satyesh Brinechem
• AquaChina Chemical (Wuhan) Co.,Ltd.
The global Organobromine market is segmented as follows:
By Application
• Flame Retardants
• Oil & Gas Drilling
• PTA Synthesis
• Water Treatment
• Others
By Region/Geography
• North America
o The U.S.
o Canada
o Mexico
• Europe
o France
o The UK
o Spain
o Germany
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o UAE
o South Africa
o Egypt
o Kuwait
o Rest of the Middle East & Africa
• Latin America
o Brazil
o Argentina
o Rest of Latin America
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