Organic compounds that have carbon held by chemical bond to bromine are called organobromine compounds. Furthermore, the naturally made bromomethane is considered highly pervasive. Besides this, one of the key uses is the application of polybrominated diphenyl ethers popularly as flame-retardants. An array of small organobromine compounds can also be found in the nature.
The growth of the market can be linked to the strict environmental policies that encourage the application of bromine mainly in coal fired power units. The use in power plants can conveniently lower the mercury consisting effluents. Moreover, favorable regulations initiated by the government bodies have been identified as one of the major driver of the market. However, the rising concerns over the harmful effect of brominated flame retardants non-halogenated substitutes on human health has hampered the market to a greater extent. Growing application of bromine mainly in mercury lowering agents is likely to create greater opportunities for the market. These reducing agents are mainly used in power plants.
The market is segmented based on end user, applications and geography. The end user discussed in the market research report furnishing, water treatment, oil and gas, construction and others. Applications covered in the market research report are HBr flow battery, pharmaceutical formulations, fumigants, biocides, flame retardants, PTA synthesis, oil and gas drilling and others. Regions experiencing tremendous growth include North America, Europe, Asia Pacific and LAMEA.
A closer look at the competitive landscape reveals that major IT brands are busy launching solutions and generating clients in the same month itself. Prominent market players are also seen acquiring new companies or local market players to maintain their competitive edge. Other business strategies favored by the companies include constant upgradation, joint ventures and collaborations. Key market players active in the industry are Tosoh Corporation, Chemtura Corporation, Morre-Tec Industries Inc., Honeywell International Inc., Jordan Bromine Company Ltd., Israel Chemicals Ltd., Albemarle Corporation and Hindustan Salts Ltd.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS