The North America Bromine Derivatives Market would witness market growth of 4.2% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 59.27 Kilo Tonnes, showcasing a growth of 3.3% (2019-2022).
Bromine is a non-metallic element in a fuming red-brown liquid at room temperature. It has properties like iodine and chlorine and a suffocating and irritating smell. These include sodium bromide (NaBr), zinc bromide (ZnBr2), calcium bromide (CaBr), and many other compounds that are manufactured using bromine. Bromine derivatives, particularly brominated flame retardants, are extensively used to manufacture fire-resistant materials. Textiles, plastics, foams, and electronic components benefit from incorporating bromine-based flame retardants to meet stringent fire safety regulations.
It plays a vital role in the pharmaceutical industry for synthesizing specific drugs. Organic compounds containing bromine are utilized in various pharmaceutical processes to develop drugs with desired properties. These, such as bromoform, are employed in drilling fluids for the oil and gas industry. These derivatives help control the density of drilling fluids, optimize the drilling process, and ensure the stability of wellbores. Bromine-based compounds serve as effective disinfectants in water treatment processes. These, like bromine tablets, are widely used to disinfect swimming pools and drinking water, providing safe and sanitized water.
Canada has a well-established consumer electronics manufacturing sector, producing various products such as smartphones, tablets, laptops, and other electronic devices. The Canadian automotive electronics industry is expanding due to the growing integration of electronic components in automobiles. Ongoing innovation in electronic materials, driven by technological advancements and the demand for more durable and safer products, creates opportunities for These in Canada. The growing demand for smart devices, IoT (Internet of Things) products in Canada, and other connected technologies increases the production of electronic components. Therefore, the factors mentioned above will drive the regional market growth.
The US market dominated the North America Bromine Derivatives Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $234.8 million by 2030. The Canada market is experiencing a CAGR of 6.7% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 5.3% during (2023 - 2030).
Free Valuable Insights: The Bromine Derivatives Market is Predict to reach USD 1.3 Billion by 2030, at a CAGR of 4.9%
Based on End-use, the market is segmented into Chemical, Construction, Oil & Gas, Pharmaceuticals, and Electronics & Others. Based on Derivative, the market is segmented into TBBPA, Sodium Bromide, Calcium Bromide, Zinc Bromide, DPDPE, and Others. Based on Application, the market is segmented into Flame Retardants, Organic Intermediates, Oil & Gas Drilling, Biocides, PTA Synthesis, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
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 Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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