Sodium Bromide Market size is set to grow by USD 562.3 million from 2024-2028, Growth of oil and gas industry to boost the market growth, Technavio

NEW YORK, July 29, 2024 /PRNewswire/ -- The global sodium bromide market  size is estimated to grow by USD 562.3 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.5% during the forecast period. Growth of oil and gas industry is driving market growth, with a trend towards stringent mercury emission control. However, fluctuation in crude oil prices poses a challenge. Key market players include Albemarle Corp., Alpha Chemika, American Elements, Anmol Chemicals Group, Anron Chemicals Co., Cowin Industry Ltd Shandong Hirch Chemical Co Ltd, Lanxess AG, Nilkanth Organics, Perekop bromine, Redox Ltd., Schlumberger Ltd., Tata Sons Pvt. Ltd., TETRA Technologies Inc., Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co. Ltd., WEIFANG HONGYUAN CHEM, Weifang Qiangyuan Chemical Industry Co Ltd., Weifang Taihexing Chemical Industry Co Ltd., Windia Chemicals P Ltd, and Yogi Intermediates Pvt. Ltd..

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Key Market Trends Fueling Growth

Sodium bromide is a crucial raw material in the production of bromide compounds. These compounds, including bromine, play a significant role in controlling mercury emissions from coal-fired power plants. Mercury emissions are a concern due to their toxicity and negative impact on the environment. Mercuric bromide, formed by the reaction of bromine with mercury in flue gases, is easily captured in flue-gas scrubbers, making it a preferred choice over mercuric chloride. The US Environmental Protection Agency (EPA) sets standards to limit emissions of mercury, acid gases, and other pollutants from power plants. As a result, the demand for bromine and its compounds is expected to increase during the forecast period. LANXESS, with its GeoBrom brand, offers brominated performance products to help eliminate mercury emissions from coal-fired boilers and power plant installations. 

The Sodium Bromide market is witnessing significant growth due to its diverse applications in various industries. Sodium Bromide, a type of bromide salt, is widely used as a raw material in organic synthesis, particularly in the Finkelstein reaction for producing alkyl bromides from alkyl chlorides. In the medical field, it is used as a sedative and anticonvulsant in the treatment of epilepsy and seizures. Sodium Bromide is also used as a brominating agent in the production of pharmaceuticals like Potassium Bromide and Sedonueral. It finds application in the oil industry as a drilling fluid additive and in water treatment. Sodium Bromide is nonflammable, thermodynamically stable, and chemically stable, making it a preferred choice in numerous industries. The market for Sodium Bromide is expected to grow, driven by the increasing demand for bromides in the production of hydrobromic acid and silver bromide in photography. The market statistics indicate a steady growth in the demand for Sodium Bromide in various industries, with infographics and presentations showing its usage in organic synthesis, medical applications, and industrial processes. Despite its low toxicity compared to other halides like sulfur dioxide, safety measures must be taken due to its cumulative toxicity. Sodium Bromide is used in BromoSeltzer, a popular pain reliever, and in the production of urinary medicines, tranquilizers, and printing and dyes. It is also used in the production of calcium-sensitive forms of formation fluids, sulfate, and carbonate. In the petroleum industry, Sodium Bromide is used as a raw ingredient in the production of oilfield chemicals and as a component in oil drilling fluids. It is also used in the production of photoflash bulbs, imaging, and in the manufacturing of organic compounds like alkyl bromides and bromides of sulfate and carbonate. In summary, the Sodium Bromide market is expected to grow due to its diverse applications in various industries, including organic synthesis, medical, oil and gas, water treatment, and photography. Despite its low toxicity, safety measures must be taken due to its cumulative toxicity. Sodium Bromide is a nonflammable, thermodynamically stable, and chemically stable raw material that is widely used in numerous industries. 

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Market Challenges

• Sodium bromide is an essential material in the oil and gas industry, used as a heavy and clear brine in drilling operations. The price of sodium bromide is critical for end-users as they compare the cost of the new material with the existing product. Crude oil prices significantly influence sodium bromide pricing due to the direct impact on the manufacturing cost of bromine, a key raw material. Fluctuations in crude oil prices can lead to volatility in sodium bromide prices. In response to these price fluctuations, vendors are implementing cost-cutting measures to mitigate the impact on their bottom line.
• The Sodium Bromide market faces several challenges in various industries. In the imaging segment, calcium-sensitive forms and formation fluids require careful handling to prevent interference with image quality. In the pharmaceutical sector, sodium bromide is used in urinary medicines, tranquilizers, and antiepileptics, but its use as a brominating agent in printing and dyes, artificial perfumes, and water treatment raises concerns due to potential negative effects. Sodium bromide is also used in petroleum production, but the presence of sulfate, carbonate, and chloride pathways can impact its effectiveness as a raw ingredient. In veterinary science, sodium bromide is used in animal medicine for cats, but its use can lead to pneumonitis, neuropsychiatric impairments, sleepiness, restlessness, hyperactivity, ataxia, excessive urination, vomiting, pancreatitis, bromism, and abnormal mental conditions. Blood bromide levels must be monitored to avoid dangerous side effects like dizziness.

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Segment Overview 

This sodium bromide market report extensively covers market segmentation by

1. Application 
• 1.1 Oil and gas
• 1.2 Pharmaceuticals
• 1.3 Others
2. Geography 
• 2.1 APAC
• 2.2 North America
• 2.3 Europe
• 2.4 Middle East and Africa
• 2.5 South America

1.1 Oil and gas-  The Sodium Bromide market is experiencing steady growth due to its widespread use in various industries. It is primarily used in the production of photographic films and as a sedative in the medical field. Additionally, it finds application in the manufacturing of flame retardants and as a catalyst in the production of acrylonitrile. Key players in the market include Albemarle Corporation, Tosoh Corporation, and Solvay. These companies are focusing on expanding their production capacity to meet the increasing demand.

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Learn and explore more about Technavio's in-depth research reports

The global sodium nitrate market is witnessing robust growth due to its extensive use in fertilizers, explosives, and food preservatives. Simultaneously, the global bromine market is expanding, driven by its applications in flame retardants, water treatment, and drilling fluids. Meanwhile, the global calcium silicate market is growing steadily, propelled by its demand in construction, insulation, and fireproofing materials. Increasing industrial activities, technological advancements, and regulatory mandates are key drivers across these markets, fostering innovation and expanding their applications globally.

Research Analysis

Sodium Bromide is a halide salt with the chemical formula NaBr. It is a white, crystalline solid that is thermodynamically and chemically stable. Sodium Bromide is produced from the reaction of Sodium Chloride with Hydrobromic Acid or from the reaction of Sodium Sulfate and Sulfur Dioxide in the presence of Seawater. It is used as a raw ingredient in various industries. In the medical field, Sodium Bromide is used to treat epilepsy and as a sedative. It is available in different grades, including calcium-sensitive forms, for various applications. The global market for Sodium Bromide is significant, with applications ranging from urinary medicines and tranquilizers to brominating agent in the production of Sedonueral and as a component in photographic film liquids, printing and dyes, artificial perfumes, water treatment, and medical uses. Despite its widespread use, Sodium Bromide can be toxic, especially in high concentrations, and can cause seizures and other health issues. Infographics and statistics can provide insights into the production, consumption, and market trends of Sodium Bromide. Other bromide salts, such as Potassium Bromide and BromoSeltzer, also have similar applications and market dynamics.

Market Research Overview

Sodium Bromide is a member of the halides family, specifically a bromide salt, with the chemical formula NaBr. It is a white, crystalline substance that is nonflammable, thermodynamically stable, and chemically stable. Sodium Bromide is produced from the reaction of hydrobromic acid with sodium chloride (NaCl), and it is used in various industries due to its unique properties. In organic synthesis, Sodium Bromide is used as a brominating agent in the Finkelstein reaction for the preparation of alkyl bromides from alkyl chlorides. It is also used in the production of sulfur dioxide, where it acts as a catalyst. Sodium Bromide is used in the pharmaceutical industry as a raw ingredient in the production of antiepileptic drugs such as Potassium Bromide and Sodium Bromide for Sedonueral and epilepsy treatment. It is also used in veterinary science for animal medicine and in medical research for studying neurons and chloride pathways. Sodium Bromide has low toxicity compared to other bromides and is used in the production of BromoSeltzer, a medication for relieving symptoms of seizures. It is also used in water treatment, printing and dyes, artificial perfumes, and imaging. Despite its benefits, Sodium Bromide has negative effects, including Neuropsychiatric impairments such as sleepiness, restlessness, hyperactivity, ataxia, excessive urination, vomiting, pancreatitis, and bromism. Long-term exposure can lead to abnormal mental conditions, dizziness, and even death due to the accumulation of bromide in the blood. Infographics, presentations, and statistics on the Sodium Bromide market can provide valuable insights into its production, applications, and usage trends. The market for Sodium Bromide is expected to grow due to its increasing demand in the pharmaceutical, oil, and water treatment industries. Sodium Bromide is used in drilling fluids, formation fluids, and as a raw ingredient in the production of silver bromide for photographic film liquids, urinary medicines, tranquilizers, and brominating agent. It is also used in the production of sulfate and carbonate salts, and in the treatment of cats with pneumonitis. The use of Sodium Bromide in the petroleum industry is significant due to its ability to improve the efficiency of oil extraction. It is also used in the production of calcium-sensitive forms of Sodium Bromide for various applications, including imaging and medical research. In summary, Sodium Bromide is a versatile chemical compound with a wide range of applications in various industries, including pharmaceuticals, oil, water treatment, and organic synthesis. Its unique properties, such as low toxicity, nonflammability, and thermodynamic stability, make it an essential raw material for numerous applications. However, its use comes with potential negative effects, and proper safety measures must be taken to minimize the risks associated with its handling and usage.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Oil And Gas
• Pharmaceuticals
• Others
• Geography
• APAC
• North America
• Europe
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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