Sodium Bromide Market – Global Industry Analysis, Size, Share, Trends and Forecast 2015 – 2023
Sodium bromide is the most common alkali bromide, occurring in both the dihydrate and anhydrous forms. Sodium bromide is prepared by adding excess bromine to sodium hydroxide solutions, which assists in formation of bromide and bromine mixture. Post mixture, the products are evaporated to dry state and again treated with carbon to obtain bromide. Sodium bromide is chemically and thermally stable. Sodium bromide can be blended with other solutions of chlorides and bromides and is also useful for formations with calcium sensitivity. Few key applications of sodium bromide include as sedative in pharmaceutical sector and as clear brine fluid in oil and gas wells. Furthermore sodium bromide is used as disinfectant in swimming pools. The growing demand from end-use industry including pharmaceutical, water treatment and other industries is expected to drive the global sodium bromide market in the years to come.
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The application of sodium bromide ranges in various industries. Sodium bromide is used as an anticonvulsant, hypnotic, and sedative in medicine for pharmaceutical industry. Sodium bromide is used as a heavy, clear brine fluid for completing and working over oil and gas wells. In oil and gas wells sodium bromide eliminates the potential damage due to formation of precipitates such as carbonate, bicarbonate and sulfate. Sodium bromide is used to control bacterial, fungal and algal slimes in municipal wastewater and industrial wastewater treatment. Sodium bromide is used in photographic processing, used as chemical intermediate for producing various chemicals and bromides and as a disinfectant in swimming pool along with chloride. Owing to all such applications sodium bromide is growingly used in end-user industries such as wastewater treatment, pharmaceutical industry across the globe.
Asia Pacific is projected to be the fastest growing market for sodium bromide in the next six years. The main reason for this is the growing demand for sodium bromide market from developing countries such as China and India. Moreover, the countries in the geographies such as Africa, South America and the Middle East are showing rapid economic and industrial growth since the last few years. Furthermore, the U.S. and European nations are gradually recovering from the economic depression. All such factors are eventually creating a positive prospect for the global industrial scenario. Considering this prospect, pharmaceutical and wastewater treatment related industries are anticipated to record strong growth in the coming years. There is a tremendous market potential for the sodium bromide market in the countries such as China, India, the U.S and Brazil.
The rising population coupled with increasing disposal income and growing purchase parity will drive the pharmaceutical industry. Due to this, the demand for sodium bromide for sedative in pharmaceutical industry and for water clarification applications in waste water treatment industry is anticipated to grow at an outstanding rate in the next few years. The key companies operating in the sodium bromide market are largely focusing China and India for tapping their enormous market potential. The major players in the sodium bromide market are installing robust manufacturing facilities in China, India, Brazil and the U.S to fulfill the rapidly rising local demand. Therefore, the global sodium bromide market is expected to experience a significant growth in the future.
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Some of the major companies operating in the global sodium bromide market are Fisher Scientific, Chemtura Corporation, TETRA Technologies, Inc., M-I SWACO a Schlumberger Company, Tata Chemicals Ltd., Alfa Aesar, Albemarle Corporation and Jordan Bromine Company Limited.
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