Sodium Bromide Market 2024-2028: Size and Fluctuation in crude oil prices; growth driven by the Application, Some of key Companies Positioned Strategically

The sodium bromide market size by Application (Oil and gas, Pharmaceuticals, and Others) and Geography (APAC, North America, Europe, Middle East and Africa, and South America), is forecast to increase by USD 562.3 million. The market is expected to grow at a CAGR of   4.5% between 2024 and 2028.

• In the business context, the cost of sodium bromide is a significant consideration for industries utilizing it as a replacement material. The price sensitivity of end-users is influenced by the cost-benefit analysis of adopting new materials versus continuing with existing ones. The manufacturing cost of sodium bromide is directly linked to the price fluctuations of its primary raw material, bromine. As a key component in the oil and gas industry, where sodium bromide is employed as a heavy and clear brine for oil drilling, the volatility in crude oil prices results in unpredictable bromine prices and, consequently, impacts the cost structure of sodium bromide.
• 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.

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Some of the Key Companies:

• 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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