India Bromine market demand stood at 16.48 Thousand Tonnes in FY2021 and is forecast to reach 25.81 Thousand Tonnes by FY2030, growing at a healthy CAGR of 5.11% until FY2030. 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 the market. Rising labor costs in China have 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 government services are accessible to the citizens electronically. Wide-scale application of bromine in oil refractories, gas extracting industry and pharmaceutical industries are making it the most required element in the growth phase of industries across the country. Increasing application of bromine compounds in drilling wells in the oil and gas industry, as well as extensive use as an industrial fumigant for warehouses, storage units, mills, and ships, are contributing to the growth of the bromine market.
The COVID-19 pandemic negatively impacted the bromine market due to disruption in the global supply chain and shut down of the production activities. At the same time, the rise in demand for pharmaceutical and wastewater treatment increased due to the ongoing pandemic situation thereby boosting the demand for Bromine market.
Years Considered for this Report:
Historical Years: FY2015– FY2020
Base Year: FY2021
Estimated Year: FY2022
Forecast Period: FY2023 – FY2030
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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 the India Bromine market.
- To identify major customers of Bromine in India.
- To evaluate and forecast Bromine pricing by grade in the India Bromine market.
- To identify and profile major companies operating in the India Bromine market.
- To identify major news, deals, and expansion plans in the India Bromine market.
Some of the major players operating in the India Bromine market are Solaris Chem Tech, Archean Group, Satyesh Brine, etc.
To extract data for the 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 the 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 them 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 policymakers
- 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 policymakers. 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 the 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
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.