Bromine Prices

Bromine Prices June 2024

Bromine prices in the United States grew considerably during the second quarter of fiscal year 2024. It peaked at 2333 USD/MT in June. This increase was caused by higher demand in the flame-retardant sector and decreased import activity as a result of geopolitical concerns. Furthermore, rising transportation and freight costs strained supply chains, resulting in a bullish market with relatively constant pricing compared to the previous quarter.

Bromine prices in China rose sharply in the Q2 of 2024, driven by supply restrictions and increased industrial demand. The market experienced substantial oscillations, with a significant gain from last year but a fall from the prior quarter, indicating a volatile but strengthening market climate. The price was set at 2767 USD/MT at the end of June 2024.

Bromine prices in the UAE increased substantially in the second quarter of 2024, owing to increasing demand from local industry and the construction sector. A hike in freight costs and supply chain disruptions also contributed to the price increase, notwithstanding variations in the seasons and persistent issues in regional market dynamics. As a result, the market price for bromine rose to 2471 USD/MT by the end of June 2024.

Bromine Prices March 2024

In the United States, bromine prices were recorded at 2272 USD/MT in Q1 2024. The market price decreased drastically in this quarter, owing to reduced downstream consumption and elevated imports of lower-cost items. Seasonal considerations and reduced purchasing activity raised price pressure, resulting in a major market downturn.

In Q1 2024, the bromine prices in China reached 2398 USD/MT. The market saw lowered product demand, reduced manufacturing rates, and excess inventory, which led to a dip in prices. Additionally, the consistent supply disruptions across the globe, coupled with seasonal factors, contributed to the negative market sentiment.

In Q1 2024, the UAE bromine market saw changes in prices, with initial drops caused by cheaper imports and slower demand. However, inquiries from local businesses helped to stabilize the market by March despite rising inventory and regional supply interruptions that impacted the overall pricing environment. As a result, by the end of March, bromine prices stood at 2334 USD/MT.

Bromine Prices December 2023

In Q4 2023, the North American bromine prices reached 2574 USD/MT. The market experienced minimal fluctuations in pricing, maintaining a stable market outlook. The balance between supply and demand was effectively managed, despite reduced production influenced by an oversupply and decreased consumer demand in certain sectors.

The price trend for bromine in China for Q4 2023 settled at 3549 USD/MT in December. The market managed to hold steady despite challenges. The balance between production increases and steady demand from key industries allowed for a stable market environment, which is poised to adjust dynamically to future demands.

In the UAE, the bromine prices for Q4 2023 reached 2525 USD/MT in December. The market faced substantial price changes throughout the quarter, primarily due to shifts in domestic and international market dynamics. However, by the end of the period, the market achieved a relative stability, adapting to the prevailing conditions.

Regional Coverage

The report provides a detailed analysis of the bromine market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the bromine price trend.

Global Bromine Price

The report offers a holistic view of the global bromine pricing trends in the form of bromine price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into bromine historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into bromine price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed bromine demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Bromine Price

European bromine prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.

This analysis can be extended to include detailed bromine price information for a comprehensive list of countries.

North America Bromine Price

Q2 2024:

During FY2024, product rates in North America displayed diverse movements, impacted by a variety of market conditions. A sustained increase in the demand for bromine in intermediate and flame-retardant industries, along with lower imports due to geopolitical concerns, resulted in supply restrictions. Challenges in logistics and heightened freight costs also led to a hike in prices. The United States market witnessed visible changes, with major heightened product demand and rise in industrial activity, thus driving the upward movement in prices. Seasonal demand increases in Asia further stressed supply systems, resulting in an upward trend during the quarter. Despite a major year-on-year (YoY) drop, prices remained reasonably steady when compared to the previous quarter, demonstrating market resiliency.

Q1 2024:

North American bromine prices fell majorly in the first quarter of 2024 due to lowered demand in major intermediate and flame-retardant sectors. It was further accelerated by reduced purchasing activities and increased purchasing of lower-cost items from regions outside North America, which drove prices down. Furthermore, the initial part of the quarter witnessed more dramatic decreases, presumably owing to seasonal reasons like holidays and less manufacturing in several end-use industries. As a result, towards the end, the pricing dynamics in North America seemed to be adverse.

Q4 2023:

In Q4 2023, the North American market exhibited subdued activity, primarily driven by a downward trend in demand across various consumer sectors. The flame retardant and intermediate industries, in particular, saw a notable decline in their requirements, resulting in a surplus of inventory that prompted producers to scale back manufacturing. Despite this, pricing within the local United States market remained the same, reflecting stable market conditions. The importation of bromine, largely from Jordan and Israel, continued at a steady pace. This period also saw a low influx of new orders from international markets, which further influenced the market's overall stability.

Specific bromine historical data within the United States and Canada can also be provided.

Middle East and Africa Bromine Price

Q2 2024:

The MEA region experienced a volatile pricing environment for the product in Q2 2024, with a persistent rising trend due to a number of variables. Increased freight charges, disruptions in supply chain, and heightened concerns related to geopolitical environment had a significant influence on logistics. Prices rose due to strong demand in the flame-retardant sector and a regional boom in the construction industry. Seasonal demand changes also coincided with this construction cycle, adding to the total increase. While quarterly adjustments demonstrated resiliency, the region continued to encounter supply restrictions despite strong demand fundamentals.

Q1 2024:

In quarter one of financial year 2024, bromine prices in the Middle East and Africa region remained generally consistent, with some variations noted in the UAE. The market saw initial price drops in January owing to an influx of low-priced imports and slowing consumer demand. However, continuous inquiries from end-user industries helped stabilize prices later in the quarter. Moreover, February also witnessed drops in prices as inventories surpluses and reduced level of procurement continued to impact the market. By March, demand saw a modest uptick owing to a hike in foreign investments coupled with growth in the non-oil industry. Overall, the MEA bromine market-maintained stability, impacted by varying demand and supply factors.

Q4 2023:

The Middle East and Africa saw varied performance, impacted by steady demand from the flame retardant sector and sufficient domestic stock levels to ensure a continuous supply. Seasonal factors like the monsoon season led to reduced production in key exporting countries, impacting import levels. The UAE, in particular, saw notable changes in market prices, although the market managed to stabilize as the quarter progressed. This stabilization points to an adaptation to the ongoing market conditions, maintaining a balance between supply and demand.

In addition to region-wise data, information on bromine prices for countries can also be provided.

Asia Pacific Bromine Price

Q2 2024:

In Q2 2024, bromine prices in the Asia Pacific region rose significantly due to a combination of factors, like supply constraints, strong demand from the industrial sector, and reduced imports. Challenges related to logistics added to this, prompting a cautious approach from downstream industries in their procurement approach. The rising production rates and hiked freight charges, also led to increased prices. In China, the market saw a notable fluctuation with a quick recovery in rates from last year, despite a decrease compared to the prior quarter. The second half of quarter two showed a sharp rise, boosted by escalating demand and limited supply, indicating a positive pricing environment.

Q1 2024:

The APAC bromine prices saw a major decline in the first quarter of 2024, with the Chinese region experiencing the highest drop. This trend resulted from lowered consumer demand, reduced manufacturing rates, and ample inventories across the region. The ongoing global supply disruptions from conflicts in the Dead Sea region also contributed to this trend. Seasonal influences and sufficient inventory levels further pushed towards the bearish market sentiment. Throughout the quarter, the APAC bromine market remained under pressure, reflecting a stable yet negative pricing trend.

Q4 2023:

Throughout the fourth quarter of 2023, the Asia Pacific region displayed a bearish outlook for the bromine market, affected by diminished demand from key downstream sectors, including pharmaceuticals and flame retardants. The market conditions were characterized by a well-maintained supply chain with adequate domestic stock to meet the current demand. Notably, in China, the market conditions stabilized due to consistent demand from intermediate industries, despite an increase in domestic production that led to higher inventory levels. This stability in demand suggests a potential for market recovery, hinting at a future shift towards more bullish sentiments.

This bromine price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Bromine Price

The analysis of bromine prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Bromine Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Bromine Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of bromine pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of bromine at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of bromine price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing bromine price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Bromine Market Analysis

The global bromine industry size reached US$ 3.5 Billion in 2023​. By 2032, IMARC Group expects the market to reach US$ 5.2 Billion, at a projected CAGR of 4.30% during 2023-2032​

• Bromine-based clear brine fluids are extensively used in oil and gas extraction processes as drilling and completion fluids. The increasing drilling activities across the globe to meet energy needs is driving the demand for bromine. According to Rystad Energy, drilling activity was expected to increase with around 54,000 wells globally in 2021, marking a 12% rise from 2020. Further growth was projected in 2022, with an estimated 64,500 wells, albeit still below pre-pandemic levels. Onshore drilling was set to rise by 12% in 2021 to about 51,700 wells, followed by a 19% increase in 2022 to approximately 61,700 wells.
• With the growing need for clean and safe water, bromine compounds are increasingly utilized in water treatment processes. Its effectiveness against a wide range of pathogens, including bacteria, viruses, and protozoa, makes it a valuable asset in ensuring water safety and quality. For instance, the World Health Organization (WHO) states that approximately 1 million people die annually due to diarrhea caused by unsafe drinking water, sanitation, and poor hand hygiene. In addition to diarrhea, contaminated food and water pose various health risks. In 2021, over 251.4 million individuals required preventative treatment for schistosomiasis, a disease caused by parasitic worms transmitted through exposure to infested water. Moreover, microbiologically contaminated drinking water can transmit diseases, such as cholera, dysentery, typhoid and polio and is estimated to cause approximately 505 000 diarrhoeal deaths each year.
• Besides this, bromine compounds, such as bromochlorodimethylhydantoin (BCDMH), are employed in both swimming pools and industrial water treatment processes. These compounds release active bromine and chlorine when dissolved in water, offering a broad-spectrum antimicrobial action that is effective over a wide pH range. This characteristic is particularly beneficial in applications where maintaining a consistent pH is challenging.
• Bromine offers unique chemical properties, which makes it an invaluable reactant in organic synthesis, enabling the formation of various brominated pharmaceuticals. It is utilized in the formulation of an array of essential medications, such as those that treat epilepsy, anesthesia, sedation, and Alzheimer's disease. According to Alzheimer's Association, approximately 7 million Americans lived with Alzheimer's, a number that will nearly double to 13 million by 2050. In 2021, Alzheimer's ranked as the fifth-leading cause of death among individuals aged 65 and older. Health and long-term care costs for those with dementia are forecasted to reach $360 billion in 2024 and nearly $1 trillion by 2050.

Bromine News

The report covers the latest developments, updates, and trends impacting the global bromine industry, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in bromine production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the bromine price trend.

Latest developments in the bromine industry:

• In August 2024, TETRA Technologies, Inc. released an S-K 1300 Bromine Definitive Feasibility Study ("DFS") containing positive results including certain financial information on the development of TETRA's Arkansas bromine assets in the Evergreen Unit based on engineering studies, reservoir analysis, certain cost and revenue assumptions, plus quotes received on major components received or completed to date.
• In April 2024, Tetra Technologies outlined its plans for the bromine-lithium plant in Lewisville in collaboration with ExxonMobil. The company emphasized on its requirement for bromine as an essential component of completing fluids.
• In July 2024, Gulf Resources, Inc., a leading manufacturer of bromine, crude salt and specialty chemical products in China, announced that its wholly owned subsidiary, Shouguang Hengde Salt Industry Co. Ltd (“SHSI”), entered into a series of agreements to acquire crude salt fields for an aggregate price of RMB280,762,000. The acquisition of these crude salt fields may enable Gulf Resources to open bromine factories. In addition, with the additional crude salt fields, the company will be able to drill more wells and achieve a higher level of utilization.

Product Description

Bromine is a chemical element with a dark reddish-brown color and a bleach-like odor. It is liquid at room temperature and soluble in water. It occurs naturally and is extracted from brine pools, where it is present in small quantities and separated through processes like aeration. It is known for its versatile properties, including high reactivity and effective heat stabilization.

It is a critical component in the production of flame retardants, which are essential for enhancing fire safety in a variety of consumer products, including electronics, textiles, and construction materials. It also helps to slow down or stop the spread of fire, providing crucial protection and safety. Moreover, bromine is utilized in the production of dyes and pigments, offering a spectrum of vibrant colors for textiles and inks. It is a key component in the manufacture of silver bromide, a compound used in traditional photographic film due to its sensitivity to light, enabling image capture. In agriculture, brominated compounds serve as potent pesticides and fumigants, helping to protect crops and ensure food security.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of bromine pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting bromine price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The bromine price charts ensure our clients remain at the forefront of the industry.