The Bromine Market is to Touch $5 Billion by 2030; Increasing use of hydrogen bromide in flow batteries and Increasing demand for flame retardants propels market growth.

The Bromine Market size is estimated to reach $5 billion by 2030, growing at a CAGR of 4.5% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Bromine Market – By Product Type (Elemental Bromine, Derivatives [Organobromines, Clear Brine Fluids (CBFs), and Hydrogen Bromide (HBr)]), By Application (Flame Retardants [Plastic, Clothing, Paper, Woods], Fine Chemicals [Pharmaceuticals, Raw materials for chemical industry], Agriculture Products [For Soil and Agriculture Pest Control {Pest control of surface vegetation, Soil Pest Control}, Long term Storage], Biocides [Cleaning Materials, Metal Processing, Water disinfection, Medical Disinfectants, Glues and Sealants, Latex Polymers, Coating and Dyes], BHR Flow Batteries, and Others), By End-Use (Oil & Gas, Chemicals, Textile, Medical, Automotive, Agriculture, Water Treatment, Pharmaceuticals, Cosmetics, and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”

Growth in water treatment applications and Expansion of organobromine derivatives are expected to create growth opportunities in the market during forecast period.

APAC accounted for the largest share of 30% of the Bromine Market in 2023 followed by North America and Europe. China is expected to be the dominant and fastest-growing market for bromine in the Asia Pacific region, mainly due to the escalating demand for brominated flame retardants in the country. China, which had banned the export of bromine and its related compounds, is focusing only on imports to meet its domestic requirements. 

Bromine compounds are crucial in the synthesis of various medications and drugs, including those used for treating conditions such as cancer and neurological disorders. The rise in pharmaceutical research and development, coupled with the need for advanced treatments, is boosting demand for bromine-based compounds. As pharmaceutical companies continue to innovate and develop new therapies, bromine's role in drug formulation and production is expected to expand, driving growth in the market.

The development and implementation of advanced bromine recovery technologies are aimed at improving the efficiency of bromine extraction and recycling processes, thereby reducing environmental impact and operational costs. Technologies such as brine recycling and advanced separation techniques are becoming increasingly important as industries seek more sustainable practices. The focus on enhancing recovery methods aligns with global trends towards greener and more efficient chemical production, contributing to the market's growth and sustainability.