Sodium Bromide Market - Forecast(2021 - 2026)

Sodium Bromide Market Overview

Sodium Bromide Market size is forecast to reach $1.1 billion by 2025, after growing at a CAGR of 5.2% during 2020-2025. Sodium bromide is a colorless cubic crystal or white granular powder, and belongs to isometric system. Sodium and bromide ions inorganic salts that occur naturally in seawater and other surface and underground waters used to manufacture sodium bromide. The surging uses of Sodium Bromide across various applications such as drilling and cementing, water treatment, and cleaning products drive the growth of this market. Furthermore, surging use of Sodium Bromide in film and photography industry is also contributing to the growth of Sodium Bromide Market size during forecast period. Moreover, accelerating demand of Sodium Bromide from food and Nutrition industry also aids the market growth owing to the growing trend and consumption of nutrition food among consumer especially youths. 

Report Coverage

The report: “Sodium Bromide Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Sodium Bromide Market. 
By Grade: Medical Grade, Industrial Grade, Agriculture Grade, Cosmetic Grade, and Others.
By Form: Powder, Liquid, Granular, and Others.
By Application: Printing and Dyeing, Medicine, Cleaning and Furnishing Care Products, Disinfectants, Petroleum, Water Treatment Products, Personal Care, Photography, and Others.
By End-Use Industry: Water and Wastewater, Food and Nutrition, Oil and Gas, Construction, Coatings and Lubricants, Pharmaceutical, Cosmetics, Agriculture, and Others.
By Geography: North America, South America, Europe, APAC, and RoW.


Key Takeaways

  • Rise in Oil and Gas activities in the country like the USA, Middle East, and Russia raises the demand for Sodium Bromide.
  • Sodium bromide is generally non-reactive and very water soluble that further augments the demand for Sodium Bromide.
  • The stringency in mercury emission control from developed regions will drive the growth of the sodium bromide market during the forecast period.
  • Decline in manufacturing activities and disruption of supply chain due to the outbreak of coronavirus has hampered the growth of the Sodium Bromide market.


Sodium Bromide Market Segment Analysis - By Grade

Based on the grade, industrial grade segment holds the largest share of more than 30% in the Sodium Bromide market in 2019. The industrial grade Sodium Bromide is a crystalline powder, which is readily soluble in water used in the production of biocides used in industrial cooling towers and pasteurizer. Whereas, the growing industrial water treatment and oil extraction activities further propels the growth of this segment, which in turn drive the market growth.


Sodium Bromide Market Segment Analysis - By Form

Based on the form, powder form segment holds the largest share of more than 35% in the Sodium Bromide market in 2019. The powder Sodium Bromide is very useful as chemical intermediate for the formulation of chemicals and bromides. Whereas, the growing uses of Sodium Bromide Powder to form clear-brine work over and completion fluid where formation water contain high concentrations of bicarbonate and sulfate ions further propels the growth of this segment, which in turn drive the market growth. Additionally, the ease of packaging and transportation of powder form sodium bromide and surging uses of powder in residential and commercial sector are also contribute to the growth of this market. 


Sodium Bromide Market Segment Analysis - By Application

Water Treatment segment hold the largest share of more than 35% in the Sodium Bromide market in 2019. Sodium Bromide solution is used to disinfect water systems such as evaporative cooling towers, hot tubs and swimming pools. Efficacy and cost effectiveness of Sodium Bromide compared to other water treatment chemicals such as Sodium Bisulphite and ferric sulfate are major factors driving the growth of the Sodium Bromide market. Furthermore, the wide use of Sodium bromide is to control bacteria, algal slimes, and fungal in the municipal wastewater and industrial wastewater treatment drive the market growth. In addition, surging demand for freshwater pose an opportunity for the growth of Sodium Bromide market. According to the Organization for Economic Co-operation and Development, freshwater demand is projected to increase by 55% globally between 2000 and 2050, significantly aiding the market growth.

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