According to the new market research report the North American Bromine Market report defines and segments the concerned market with analysis and forecast of revenue. This market is projected to reach $1,995.5 million by 2019 at a CAGR of 10.8% from 2014 to 2019.
Bromine is a volatile and heavy liquid element at room temperature. It is brownish-red in color and dissolves in water. Bromine is extracted from seawater, salt lakes, and brine wells. There are three major derivatives of bromine-organobromines, clear brine fluid, and hydrogen bromide or hydro bromic acid. The market share of organobromines is the highest across the world and the flame retardants are the largest application of bromine. Bromine is usually obtained from sea water, through the treatment of seawater with chlorine and flushing through with air. In this treatment, bromide is oxidized to bromine by the chlorine gas. Dead Sea brine is the richest source of bromine, globally.
In the North American region, the bromine market has been well-established in the U.S., Canada, and Mexico, considering their consistent requirement over the years. In future, this market will observe growth from the housing, transport, and household equipment sectors. The bromine market in North America is the second largest market after Asia-Pacific.
In 2014, the U.S. accounted for the maximum consumption in the region and has been driving the bromine market, as all the producers of chemicals and resins have adopted a low cost approach. The U.S holds the largest share of the North American Bromine market, and this large share is attributed to the growing demand from various applications such as flame retardants and brine fluids. Flame retardants are the biggest end-users of bromine in the U.S.; however, its use is showing a slowdown because of environmental and health-related concerns. The country is adopting strict environmental and emissions policies to reduce the mercury emissions and other toxins in coal-fired power plants. This is going to be a key driver for the growth in the bromine market, as bromine and its derivatives are used in controlling mercury emissions from coal-fired power plants.
The organobromines applications have potential in the region as opportunities in the fire retardants sector provide benefits in organobromines compounds, wherein bromines will continue to hold an edge due to their inhibitory effect on the ignition of combustible organic materials. The report covers the North America bromine market, which is segmented on the basis of application and geography. In the North American region, bromines are applied in brine fluids, hydrogen bromide or hydrobromic acid, and organobromines.
An in-depth profiling of the key players have been conducted, along with the recent developments (including new product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their position in the North American bromine market. The top players in the market include Albemarle (U.S), Israel Chemical Ltd. (Israel), Chemtura Corporation (U.S), Tetra Technologies (U.S.), and Jordan Bromine Company (Amman, Jordan), among others.
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