Geographically, Asia-Pacific (APAC) is expected to observe the highest growth in the usage of bromine during the forecast period. This is credited to the rising demand for electronics and plastic products and insulation materials in many APAC countries,
The increasing usage of clear brine fluids in oil and gas drilling activities is one of the major factors propelling the demand for bromine across the world. Clear brine fluids are extensively used in oil and gas drilling activities due to their ability of decreasing the bottom-hole pressure and temperature in the well bores. In addition to this, brines provide various advantages over other drilling fluids such as lesser fine-hole gauge, formation, and fill damage, faster shale penetration rates, and lower initial cost of setting up the casing for the mud (for drilling).
The other major factors fuelling the rise in the demand for bromine throughout the globe, are the rising incorporation of eco-friendly polymeric flame retardants and the soaring utilization of bromine compounds for reducing mercury emissions in a cost-effective manner. Due to these factors, the
global bromine market generated revenue of $1,864.3 million in 2019 and is expected to advance at a CAGR of 5.7% during the forecast period (2020–2030).
On the basis of derivative, bromine is classified into hydrogen bromide, organobromide, and bromide salts. Amongst these, organobromide recorded the highest usage in 2019. This is mainly ascribed to the large-scale utilization of organobromides, such as ethylene dibromide, styrene bromide, allyl bromide, propylene bromide, and vinyl bromide, in the production of flame retardants, intermediates for organic synthesis, solvents, fumigants, gasoline antiknock agents, pesticides, and catalysts, across the world. The demand for bromide salts is expected to increase at the fastest rate during the forecast period, owing to their burgeoning utilization in the production of clear brine fluids.
Geographically, Asia-Pacific (APAC) is expected to observe the highest growth in the usage of bromine during the forecast period. This is credited to the rising demand for electronics and plastic products and insulation materials in many APAC countries such as India, Japan, China, Thailand, and South Korea, on account of the soaring urban population and surging disposable income of the people in these countries. Bromine-based flame retardants are widely used in electronics and plastic products and insulation materials and therefore, the bromine market is being massively boosted by the rising demand for these materials in the region.
Therefore, the demand for bromine is set to surge in the coming years, owing to the mushrooming usage of clear brine fluids in oil and gas drilling activities and the rising adoption of bromine in flame retardants.
