August 16, 2016 - 12:45 PM EDT
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Bromine Market Forecast Shows 12.4% CAGR to 2021 Led by APAC

PUNE, India, August 16, 2016 /PRNewswire/ --

The bromine market is set to hit $9.82 billion by 2021 at a CAGR of 12.4% between 2016 and 2021 led by Asia-Pacific due to continuous rise in the production of bromine for the electronics, automobiles, and agricultural industries while oil & gas is the largest and the fastest-growing application of the bromine market.

Complete report on global bromine market across 152 pages, profiling 11 companies and supported with 145 tables and 39 figures is now available at .

Bromine is used widely in the oil & gas drilling industry in the form of clear brine fluids. The types of clear brine fluids, besides being a derivative of bromine are calcium bromide, zinc bromide, and sodium bromide fluids. These fluids are extensively used in the oil & gas well-drilling industry for high-density, solids-free completion, packer, and workover fluids to reduce the likelihood of damage to the well bore and productive zone. Brine fluids have a high density, thus prevent migration of fluids between underground formations through the well bore. The consumption of brine fluids is expected to grow in regions that are witnessing an increased oil- & gas-drilling activity. Some important regions witnessing an increase in demand for drilling fluids are Gulf of Mexico, offshore (U.S.), shale gas wells in the U.S. as well as oil and wells in Alberta and Canada. The Orinoco belt in Venezuela and offshore wells in Brazil are important markets for brine fluids in South America.

Increasing demand from the end-use industries such as automotive, agricultural, electronics, and oil & gas are the major drivers of the bromine market. The automotive, water treatment, electronic, and drilling activities are growing in the emerging markets of Asia-Pacific such as China, India, and other Southeast Asian countries. With the increasing usage of bromine in the production of flame retardants, biocides, and PTA synthesis in some major economies, such as India, China, and Japan, the market is expected to grow further. Hence, bromine is increasingly used in various end-use industries, and is expected to grow rapidly in the near future.

Asia-Pacific is the most favorable market for chemicals, power, and fuels and is anticipated to be the same in the coming future. The continuous rise in the production of bromine for the electronics, automobiles, and agricultural industries within the region, and for exports drives a huge demand for the bromine in terms of derivative as well as application. The excessive growth in the end-use industries and modernization along with the industry consolidations are expected to ascertain a bright future for the bromine industry in the region.

The report also includes company profiles and competitive strategies adopted by the major market players, such as Albemarle Corporation (U.S.), Chemtura (U.S), Jordan Bromine Ltd (Jordan), Tosoh Corporation (Japan), and Israel Chemical Ltd (Israel). Order a copy of Bromine Market by Derivative (Organobromine, Hydrogen Bromide, and Clear Brine Fluids), Application (Oil & Gas, Flame Retardants, Biocide, and Plasma Etching), and by Region - Global Forecast to 2021 research report available at .

In the process of determining and verifying, the bromine market for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (25%), Tier 2 (33%) and Tier 3 (42%) companies were contacted for primary interviews. The interviews were conducted with various key people such as Managers (37%), Consultants (13%), Directors (10%) and Sales Executive (40%) from various key organizations operating in the worldwide bromine market. The primary interviews were conducted worldwide covering regions such as North America (38%), Europe (22%), Asia- Oceania (30%) and Rest of World (10%).

On a related note, another research on methanol market global trends & forecasts to 2021 says, an increasing demand for petrochemicals toward the automotive and building & construction industries is driving the demand for methanol. Automotive is the largest end-use industry for methanol. Asia-Pacific expected to have largest market for methanol. The market size for methanol is projected to reach USD 54.16 billion by 2021, registering a CAGR of 12.4% between 2016 and 2021. Companies like Methanex Corporation (Canada), SABIC (Saudi Arabia), PETRONAS (Malaysia), Mitsubishi Gas Chemical Company (Japan), and Mitsui & Co., Ltd. have been profiled in this 258 pages research report available at .

Explore more reports on materials & chemicals market at .

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Source: PR Newswire (August 16, 2016 - 12:45 PM EDT)

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