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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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Application (Oil and
gas, Pharmaceuticals, and Others) and Geography (APAC, North
America, Europe, Middle East and Africa, and South
America)
|
Region
Covered
|
APAC, North America,
Europe, Middle East and Africa, and South America
|
Key companies
profiled
|
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.
|
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
- Application
- 1.1 Oil and gas
- 1.2 Pharmaceuticals
- 1.3 Others
- 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.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
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
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