DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/896mwq/global) has announced the addition of the "Global Organobromine Market by Application, by Geography - Analysis & Forecast to 2019" report to their offering.
The global organobromine market was valued at $2.84 billion in 2014 and is projected to reach $3.99 billion by 2019, at a CAGR of 6.9% during the period under consideration.
Organobromine is a very important ingredient for making dyes and in the pharmaceutical industries. The demand for organobromine is primarily driven by the growth in these end-user industries. The global scenario reveals that the application of organobromine in the pharmaceutical industry is growing at a very rapid pace. This is expected to boost the growth of the global organobromine market in the coming years.
Organobromine compounds are used in flame retardants and biocides. Some of the organobromine derivatives are used for water treatment applications in the pool & spa and water industries. Organobromine derivatives reduce the formation and growth of algae, bacteria, and odor in water. Moreover, organobromine compounds are used in manufacturing dyes. Organobromines are also used as intermediates for preparing pharmaceuticals such as hypnotics, anticonvulsants, and sedatives.
The maximum demand for organobromine in 2014 came from the flame retardant application segment. This segment covered 70% of the overall market for organobromine in 2014. In terms of consumption, the global organobromine market recorded a volume of 844.1 KT in 2014. The Asia-Pacific region is the largest market for organobromine, globally, as of 2014.
The rising demand for flame retardants due to stringent fire safety regulations; the growing demand from the electronics and automotive industries; and the expanding ship-building industries, among others, are some of the key factors driving the growth of the global organobromine market. The consumption of flame retardants is increasing across the globe. Furthermore, drugs containing organobromine ingredients are used for treating pneumonia and cocaine addiction. Flame retardants are the largest application of organobromine. These applications are also responsible for the growth of the global organobromine market.
The key players of the market include Albemarle Corp. (U.S.), Israel Chemical Ltd. (Israel), Chemtura Corporation (U.S.), Sanofi S.A. (France), Jordan Bromine Company (Jordan), Tetra Technologies (U.S.), Tosoh Corporation (Japan), Morre-Tec Industries (U.S.), and Tata Chemicals Ltd. (India), among others.
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