Rapidly expanding manufacturing of zinc-bromine batteries, strong eco-friendly competitors for lithium counterparts, is to stimulate the growth of the global bromine market. Developers and producers of zinc-bromine battery components are actively fundraising last year thanks to the high potential for the market to expand.
LOS ANGELES, Jan. 13, 2022 (GLOBE NEWSWIRE) — Investors are seeing opportunities in zinc-bromine battery manufacturing, which could drive an expansion in the global bromine market, a new report by IndexBox states. Accumulators using a zinc-bromine gel have a competitive advantage over their lithium counterparts because of their lower production costs and initial investment to reach industrial capacity. They are less flammable and can be used at temperatures over +50оС, while lithium batteries have a high risk of catching fire at those temperatures.
In 2021, developers and producers of zinc-bromine components successfully attracted investments thanks to growing interest in this new alternative source of storing energy. Gelion PLC, an Australian zinc-bromine gel developer, launched an IPO on the London Stock Exchange to expand its capabilities in its home country, create additional production facilities in India and become profitable by 2024. The share price for Neogen Chemicals Ltd, the largest Indian manufacturer of bromine-based and lithium-based compounds, doubled last year. The company’s financial results showed a growth in revenues to Rs. 113.2 crore in Q2 FY22, 38% larger than the same period of the previous year.
Global Imports of Iodine, Fluorine and Bromine
In 2020, approx. 163K tonnes of iodine, fluorine and bromine were imported worldwide, picking up by 6.8% on the previous year. In value terms, iodine, fluorine and bromine imports rose remarkably to $1.5B.
China was the major importer of iodine, fluorine and bromine in the world, with the volume of imports amounting to 60K tonnes, which was approx. 37% of global purchases. Belgium (25K tonnes) ranks second with a 15% share, followed by India (8.3%) and France (4.8%). The UK (5.1K tonnes), the U.S. (5.1K tonnes), Norway (3.4K tonnes), Saudi Arabia (2.8K tonnes) and Canada (2.6K tonnes) followed a long way behind the leaders.
In value terms, China ($415M), Belgium ($212M) and the U.S. ($147M) constituted the countries with the highest levels of purchases in 2020, together comprising 51% of global imports.
The average iodine, fluorine and bromine import price stood at $9,252 per tonne in 2020, increasing by 4.4% against the previous year. The most notable rate of growth in terms of prices was attained by the U.S., while the other global leaders experienced more modest paces of growth during 2020.
Top Largest Suppliers of Iodine, Fluorine and Bromine
In 2020, Israel (62K tonnes) was the leading exporter of iodine, fluorine and bromine, committing 43% of total exports. It was distantly followed by Jordan (23K tonnes), Chile (20K tonnes), Belgium (14K tonnes), Japan (7.8K tonnes), the U.S. (7.5K tonnes) and India (6.9K tonnes), together comprising a 54% share of global supplies.
In value terms, Chile ($659M) remains the most significant supplier worldwide, comprising 44% of total exports. The second position in the ranking was occupied by Israel ($222M), with a 15% share of global supplies. It was followed by Belgium, with a 13% share.
IndexBox is a market research firm developing an AI-driven market intelligence platform that helps business analysts find actionable insights and make data-driven decisions. The platform provides data on consumption, production, trade, and prices for more than 10K+ different products across 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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