India Bromine Market is projected to grow at CAGR of around 7.5% during forecast period owing to its constant demand from various end-user industries such as electronics, automobiles, oil and gas and agriculture. Bromine is widely utilized 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 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. Increasing applications of bromine in the production of flame retardants, biocides, and PTA synthesis are expected to further propel the growth of market. The electronics industry in India is one of the largest and fastest-growing industries in the country. Rising labor costs in China has propelled the manufacturers to relocate from China to India to meet the domestic demand. Government initiatives, like Digital India, are stimulating the growth in the electronics manufacturing sector. The main objective of this initiative is to ensure that all the government services are accessible to the citizens electronically. Wide-scale application of bromine in oil refractories, gas extracting industry and pharmaceutical industries is making it the most required element in the growth phase of industries across the country.
Years Considered for this Report:
Historical Years: 2015 – 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2030
Objective of the Study:
- The primary objective of the study was to evaluate and forecast Bromine capacity, production, demand, inventory, and demand – supply gap in India.
- To categorize Bromine demand based on end use, grade, region and sales channel.
- To study trade dynamics and company share in India Bromine market.
- To identify major customers of Bromine in India.
- To evaluate and forecast Bromine pricing by grade in India Bromine market.
- To identify and profile major companies operating in India Bromine market.
- To identify major news, deals and expansion plans in India Bromine market.
Some of the major players operating in India Bromine market are Solaris Chem Tech, Archean Group, Satyesh Brine etc.
As of 2020, import of Bromine has been decreased by 4 per cent on y-o-y basis. Bromine prices were assessed at INR XXX per MT on bulk contract basis, down by about xx per cent. Domestic price of Bromine was assessed lower than the import price with the price differential observed to the tune of INR XX per Kg.
To extract data for India Bromine market, primary research surveys were conducted with Bromine manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for India Bromine market over the coming years.
ChemAnalyst calculated Bromine demand in India by analyzing the historical data and demand forecast was carried out considering Caustic Soda prices. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
- Bromine manufacturers and other stakeholders
- Organizations, forums and alliances related to Bromine distribution
- Government bodies such as regulating authorities and policy makers
- Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Bromine manufacturers, distributors and policy makers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
In this report, the India Bromine market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, by End Use- Electronics, Oil & Gas Industry, Automobile, Agriculture, Others
Market, by Application- Agricultural Chemicals, Dyestuffs, Insecticides, Chemical Intermediates
Market, by Sales Channel- Direct/Institutional Sales, Retail Sales, Other Channel Sales
Market, by Region- North, West, East and South
Competition Outlook: Outlook of leading 10 players based on product portfolio, market pricing, average selling price, sales footprint, etc.
Company Profiles: Detailed analysis of the major companies operating in the India Bromine market.
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.