Authored By: Sarah
11 Jul 2024

 Sodium Bromide Market Size to grow by USD 562.3 million between 2024-2028

According to a research report “ Sodium Bromide Market” by Application (Oil and gas, Pharmaceuticals, Others) Geography (APAC, North America, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 562.3 million, at a CAGR of  4.5% during the forecast period. The global sodium bromide market is poised for significant growth due to the surge in oil and gas exploration activities in key producing countries such as the US, Brazil, Mexico, Saudi Arabia, China, Russia, and Norway. The increasing adoption of advanced drilling techniques like horizontal drilling and hydraulic fracturing, which utilize sodium bromide as a clear brine fluid for extracting petroleum products, will further fuel market expansion. According to the US Energy Information Administration (EIA), hydraulically fractured wells accounted for approximately 69% of all oil and natural gas wells drilled in the US in 2016. This trend is expected to continue, driving the demand for sodium bromide in the oil and gas industry throughout the forecast period.

Browse market data tables, figures, and in-depth TOC on “Sodium Bromide Market” by Application (Oil and gas, Pharmaceuticals, Others) Geography (APAC, North America, Europe, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample

 

By Application, the Oil and gas segment is projected to dominate the market size in 2024

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By Geography, APAC  segment is expected to hold the largest market size for the year 2024

The Sodium Bromide market represents a significant business opportunity due to its extensive applications in various industries. Key end-use sectors include pharmaceuticals, agriculture, and water treatment. Sodium Bromide's unique properties, such as its high melting point and solubility in water, make it an essential ingredient in the production of bromides and bromides derivatives. Market growth is driven by increasing demand for these products in various applications, coupled with ongoing research and development efforts.

APAC is forecasted to hold the largest market size by region in 2024

The Sodium Bromide market represents a significant business opportunity due to its extensive applications in various industries. Key end-use sectors include pharmaceuticals, photography, and as a flame retardant. Growth is driven by increasing demand for bromide salts in pharmaceuticals, particularly in the production of iodine-131 for medical imaging. Additionally, the photography industry's revival is expected to boost demand for sodium bromide as a fixing agent. Furthermore, stringent regulations on flame retardants are likely to create new opportunities for sodium bromide as a safer alternative.

The Sodium Bromide Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • 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
  • Yogi Intermediates Pvt. Ltd.
.

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Research Analysis Overview

Title: Sodium Bromide Market: Applications in Medical, Water Treatment, and Industrial Sectors Infographics: [Image showing the global Sodium Bromide market size and growth trend] Sodium Bromide, a halide salt, is a versatile chemical used in various industries and medical applications. It is a raw ingredient in the production of brominating agents, tranquilizers, urinary medicines, and photographic film liquids. In the medical field, Sodium Bromide is used as a bromide salt in the treatment of seizures and epilepsy. It is also used in the production of artificial perfumes and as a stabilizer in carbonate and sulfate formation fluids. [Image showing the applications of Sodium Bromide in different industries] Sodium Bromide is a chemically stable and thermodynamically stable compound, making it an ideal choice for use in water treatment to prevent the formation of sulfur dioxide and other impurities. It is also used as a brominating agent in the production of dyes and printing inks. [Image showing the production process of Sodium Bromide] Statistics: [Data on the production and consumption of Sodium Bromide in different regions] Grade Sodium Bromide is available in various forms, including the calcium-sensitive forms used in medical applications and the insoluble form used in water treatment. The toxicity of Sodium Bromide is relatively low compared to other bromides like Potassium Bromide and Hydrobromic Acid. However, prolonged exposure can lead to health issues. [Image showing the safety precautions while handling Sodium Bromide] Well-known brands like BromoSeltzer and Sedonueral use Sodium Bromide as their active ingredient. The market for Sodium Bromide is expected to grow due to its wide range of applications and the increasing demand for water treatment and medical solutions. [Image showing the future outlook of the Sodium Bromide market]

Market Research Overview

Title: Sodium Bromide Market: Applications, Toxicity, and Market Trends Sodium Bromide (NaBr), a halide salt, is widely used in various industries due to its unique properties. It is chemically stable, thermodynamically stable, and nonflammable, making it an ideal raw material for numerous applications. In medical science, Sodium Bromide is used as a treatment for seizures, particularly in veterinary medicine for cats. However, excessive intake can lead to bromism, causing symptoms like dizziness, abnormal mental status, pancreatitis, vomiting, excessive urination, ataxia, hyperactivity, restlessness, sleepiness, and neuropsychiatric impairments. In the pharmaceutical segment, Sodium Bromide is used as an antiepileptic, tranquilizer, and in urinary medicines. It is also used as a brominating agent in organic synthesis and as a raw material in the production of silver bromide for imaging. Sodium Bromide is also used in water treatment, oil drilling fluids, and as a raw material in the production of alkyl bromides and alkyl chlorides. In industry, it is used as a catalyst in the Finkelstein reaction and in the production of carbonate, sulfate, and calcium-sensitive forms. Despite its benefits, Sodium Bromide is a cumulative toxin with low toxicity. Long-term exposure can lead to negative effects like pneumonitis. It is important to handle Sodium Bromide with care and follow safety guidelines. Market Trends: The global Sodium Bromide market is expected to grow at a CAGR of 5.5% from 2021 to 2028. Key factors driving the market growth include increasing demand from the pharmaceutical industry, rising applications in water treatment, and growing demand from the oil and gas industry. Infographics and statistics on Sodium Bromide market presentations, applications, and trends can be found online. Some well-known brands include BromoSeltzer, Potassium Bromide, Sedonueral, and Hydrobromic Acid. Sodium Bromide is also used in the production of petroleum, medical equipment, artificial perfumes, printing and dyes, and photographic film liquids. It is an essential raw material in various industries and is expected to continue its growth trajectory in the coming years.

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