According to a new report, published by KBV research, The Global Bromine Derivatives Market size is expected to reach $1.3 billion by 2030, rising at a market growth of 4.9% CAGR during the forecast period. In the year 2022, the market attained a volume of 234.70 Kilo Tonnes, experiencing a growth of 3.8% (2019-2022).
The Oil & Gas segment would exhibit a CAGR of 4.6% during (2023 - 2030). Bromine derivatives are adapted for deepwater and high-temperature drilling operations. The unique properties of bromine derivatives make them suitable for challenging drilling environments, including deepwater and high-temperature reservoirs. Calcium bromide is utilized in brine solutions for well control. Brine solutions with calcium bromide provide effective well control during various drilling and completion activities, ensuring safety and stability. Bromine derivatives contribute to controlling formation damage in reservoirs.
The TBBPA segment is generating highest revenue in the Global Bromine Derivatives Market by Derivative in 2022; thereby, achieving a market value of $355.1 million by 2030. TBBPA is primarily known for its use as a flame retardant in various materials, such as printed circuit boards (PCBs), electrical equipment, and building materials. Any increased demand for flame retardant materials can drive the TBBPA segment and its bromine derivatives market. Innovations in technology and materials may lead to the development of new products that require effective flame retardants. TBBPA and its derivatives can find applications in these new materials, contributing to market segment growth.
The Organic Intermediates segment is experiencing a CAGR of 5.4% during (2023 - 2030). Improved methods in organic synthesis allow for the customization of bromine derivatives. The ability to tailor the synthesis of bromine derivatives to meet specific industrial requirements enhances the versatility of these compounds in various applications. Advances in organic chemistry techniques enable more efficient bromination reactions. Improved bromination processes contribute to increased yields, reduced waste, and enhanced efficiency in producing bromine derivatives. Innovations in purification techniques result in high-purity organic intermediates.
Full Report: https://www.kbvresearch.com/bromine-derivatives-market/
The Asia Pacific region dominated the Global Bromine Derivatives Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $550.4 million by 2030. The North America region is anticipated to grow at a CAGR of 4.2% during (2023 - 2030). Additionally, The Europe region would witness a CAGR of 4.4% during (2023 - 2030).
By End-use (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Derivative (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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