India Bromine Market is anticipated to increase at an impressive rate in the forecast period 2028. Bromine has widespread usage in various applications, such as energy storage, rubber, water treatment, pharmaceuticals, and agriculture. The most prominent use of bromine is in the fire safety sector and mercury emission control.
The Important Elements of India Bromine Market
In India, bromine is dominated by brominated organic intermediates, biocides, pesticides, and other applications such as water treatment, etc. Bromine is synthesized from highly concentrated brine left over after the precipitation of potash and magnesium salts (kainite), which is utilized as a raw material. The United States leads the world in bromine production, followed by China, India, Israel, Jordan, and other significant producers of elemental bromine.
Flame retardants hinder the combustion process by forming free radicals, thus preventing the fire from spreading. The anti-inflammatory property of flame retardants reduces fire-related risks significantly. According to the National Crime Records Bureau, fire accidents increased from 16,695 in 2016 to 9,329 in 2020. Moreover, the western state of India, Maharashtra, has the highest number of accidental fire incidents.
Brominated flame retardants (BFRs) are made from artificial chemicals used in industry to make various products less flammable. The five standard classes of Brominated flame retardants used in multiple end-user industries, such as in plastics, textiles, and electrical/electronic equipment, are Polybrominated diphenyl ethers, Hexabromocyclododecanes, tetrabromobisphenol A, Polybrominated biphenyls and Other brominated flame retardants. All these factors are fueling the growth of the market.
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Increasing Demand from Oil & Drilling Sector
The rising demand from the oil and gas drilling sector has substantially contributed to the growth of the India Bromine Market. The oil and gas industry uses bromine to clear brines, which increases both efficiency and productivity of oil wells. They have numerous advantages over other fluids, such as their weight, thermal and chemical stability, and lubricating ability to aid the extraction of oil and gas and help preserve the costly equipment used in the process. According to the government of India, India will likely double its area for oil and gas exploration and manufacturing of oil & gas to 0.5 million square kilometers by 2025 and 1 million square kilometers by 2030. Hence, the constant rise from the oil and gas drilling sector will stimulate the growth of the India Bromine Market in the forecast period.
Mergers & Acquisitions
In 2018, US-based Chemtura Corporation acquired India Solaris Chemtech to expand its customer base and product portfolio. Solaris is a crucial manufacturer of bromine and its derivatives in India. Further, Solaris sells this product to end-user industries such as water purifiers and disinfectants and to control algae and bacteria growth in industrial processes.
Market Segmentation
India Bromine Market is segmented based on Derivative, Application, and End User Industries. Based on Derivatives, the market is divided into Organobromine, Clear Brine Fluids, Hydrogen Bromide, and Others. Based on Application, the market is divided into Flame Retardants, Water Treatment, HBr Flow Batteries, Mercury Emission Control, PTA Synthesis, and Others. Based on End User Industry the market is bifurcated into Oil and Gas, Chemical, Pharmaceutical, Electronics, Textile, and Others.
Market Players
Solaris ChemTech Industries, Satyesh Brine Chem, Jordan Bromine Company Limited, Lanxess AG, Archean Chemical Industries, Tata Chemicals Limited, Vinyl KFT Ltd., Satyesh Brinechem Private Limited, Agrocel Industries Pvt. And Honeywell International India Pvt. Ltd are some of the key players operating in the India Bromine Market.Increasing Demand from Oil & Drilling Sector
The rising demand from the oil and gas drilling sector has substantially contributed to the growth of the India Bromine Market. The oil and gas industry uses bromine to clear brines, which increases both efficiency and productivity of oil wells. They have numerous advantages over other fluids, such as their weight, thermal and chemical stability, and lubricating ability to aid the extraction of oil and gas and help preserve the costly equipment used in the process. According to the government of India, India will likely double its area for oil and gas exploration and manufacturing of oil & gas to 0.5 million square kilometers by 2025 and 1 million square kilometers by 2030. Hence, the constant rise from the oil and gas drilling sector will stimulate the growth of the India Bromine Market in the forecast period.
Mergers & Acquisitions
In 2018, US-based Chemtura Corporation acquired India Solaris Chemtech to expand its customer base and product portfolio. Solaris is a crucial manufacturer of bromine and its derivatives in India. Further, Solaris sells this product to end-user industries such as water purifiers and disinfectants and to control algae and bacteria growth in industrial processes.
Market Segmentation
India Bromine Market is segmented based on Derivative, Application, and End User Industries. Based on Derivatives, the market is divided into Organobromine, Clear Brine Fluids, Hydrogen Bromide, and Others. Based on Application, the market is divided into Flame Retardants, Water Treatment, HBr Flow Batteries, Mercury Emission Control, PTA Synthesis, and Others. Based on End User Industry the market is bifurcated into Oil and Gas, Chemical, Pharmaceutical, Electronics, Textile, and Others.
Market Players
Solaris ChemTech Industries, Satyesh Brine Chem, Jordan Bromine Company Limited, Lanxess AG, Archean Chemical Industries, Tata Chemicals Limited, Vinyl KFT Ltd., Satyesh Brinechem Private Limited, Agrocel Industries Pvt. And Honeywell International India Pvt. Ltd are some of the key players operating in the India Bromine Market.
