Therefore, the increasing demand for bromine in oil and gas drilling is expected to propel the growth of the bromine market going forward. Strategic partnerships and collaborations have emerged as a trend gaining popularity in the bromine market.Major companies operating in the bromine sector are focused on partnerships and collaborations in order to expand their expansion into new areas and become industry leaders. For instance, in February 2021, W.R. Grace and Company, a US-based Chemicals company acquired Albemarle Corporation for $570 million.This acquisition significantly step-up W. R. Grace and the company's modest footprint in the pharmaceutical services industry. Albemarle Corporation is a US-based Chemical manufacturing company that specializes in bromine, refining catalysts, lithium, and applied surface treatments.