Bromine market will be boosted by investments in green battery –
The rapid expansion in the manufacture of zinc-bromine batteries, strong environmentally friendly competitors for their lithium counterparts, is expected to drive the growth of the global bromine market. Developers and producers of zinc-bromine battery components have actively raised funds over the past year thanks to the strong potential for market expansion.
LOS ANGELES, Jan. 13, 2022 (GLOBE NEWSWIRE) – Investors see opportunities in the manufacture of zinc-bromine batteries, which could lead to an expansion of the global bromine market, according to a new report from IndexBox. Batteries using zinc-bromine gel have a competitive advantage over their lithium counterparts due to their lower production costs and the initial investment to achieve industrial capacity. They are less flammable and can be used at temperatures above +50оС, while lithium batteries have a high risk of catching fire at these temperatures.
In 2021, developers and producers of zinc-bromine components managed to attract investment thanks to the growing interest in this new alternative source of energy storage. Gelion PLC, an Australian developer of zinc-bromine gel, launched an IPO on the London Stock Exchange to expand capacity in its home country, build additional production facilities in India and become profitable by 2024 The share price of Neogen Chemicals Ltd, India’s largest manufacturer of bromine and lithium compounds, doubled last year. The company’s financial results showed revenue growth to Rs. 113.2 crore in Q2 FY22, 38% more than the same period of the previous year.
World imports of iodine, fluorine and bromine
In 2020, approx. 163,000 tonnes of iodine, fluorine and bromine were imported into the world, up 6.8% from the previous year. In terms of value, imports of iodine, fluorine and bromine increased remarkably to reach $ 1.5 billion.
China was the main importer of iodine, fluorine and bromine in the world, with an import volume of 60,000 tonnes, or approx. 37% of global purchases. Belgium (25,000 tonnes) takes second place with a 15% share, followed by India (8.3%) and France (4.8%). The United Kingdom (5.1,000 tonnes), the United States (5.1,000 tonnes), Norway (3.4,000 tonnes), Saudi Arabia (2.8,000 tonnes) and Canada (2 , 6,000 tonnes) followed the leaders from afar.
By value, China ($ 415 million), Belgium ($ 212 million) and the United States ($ 147 million) were the countries with the highest levels of purchases in 2020, together representing 51% of world imports.
The average import price of iodine, fluorine and bromine stood at $ 9,252 per tonne in 2020, up 4.4 percent from the previous year. The most notable price growth rate was achieved by the United States, while other world leaders experienced more modest growth rates in 2020.
The largest suppliers of iodine, fluorine and bromine
In 2020, Israel (62,000 tonnes) was the top exporter of iodine, fluorine and bromine, accounting for 43% of total exports. It was followed at a distance by Jordan (23,000 tonnes), Chile (20,000 tonnes), Belgium (14,000 tonnes), Japan (7.8,000 tonnes), the United States (7.5,000 tonnes) ) and India (6.9,000 tonnes), together accounting for 54% share of world supplies.
In terms of value, Chile ($ 659 million) remains the world’s largest supplier, accounting for 44% of total exports. The second place in the ranking was occupied by Israel (222 million dollars), with a 15% share of world supplies. It was followed by Belgium, with a share of 13%.
IndexBox is a market research company that develops an AI-powered market intelligence platform that helps business analysts find actionable insights and make data-driven decisions. The platform provides data on the consumption, production, trade and prices of more than 10,000 different products in 200 countries.
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Companies mentioned in the report
Israel Chemicals Ltd (ICL), Jordan Bromine Co. (JBC), Albemarle Corp., Chemtura Corp., Solaris Chemtech, Gulf Resources, Tosoh, Vandana Chemicals, Ketan Chemical Corporation, IochemM, Deepwater Chemicals, SAE Manufacturing Specialties Corp, Kindle Fischer Specialty Chemicals LLC, BariteWorld, Tetra Chemicals, Mallinckrodt, Enviro Tech Chemicals, Valterra Products LLC, Neo Solutions, Red Bird Supply, Neogen Chemicals Ltd, Gelion PLC
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