Global Sodium Bromide Market Size to Exceed USD 492.20 Million by 2035 | CAGR of 5.65%
Category: Chemicals & MaterialsGlobal Sodium Bromide Market Size to Exceed USD 492.20 Million by 2035
According to a Research Report Published by Spherical Insights & Consulting, The Global Sodium Bromide Market Size is expected to Grow from USD 268.80 Million in 2024 to USD 492.20 Million by 2035, at a CAGR of 5.65% during the forecast period 2025-2035.
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Browse 210 Market Data Tables And 45 Figures Spread Through 190 Pages and In-Depth TOC On the "Global Sodium Bromide Market Size, Share, and COVID-19 Impact Analysis, By Product (Industrial, Medical, and Others), By Application (Oil & Gas, Water Treatment, Chemical Industry, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 - 2035." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/global-sodium-bromide-market
The manufacturing, distribution, and use of sodium bromide (NaBr), an inorganic molecule well-known for its chemical stability and water solubility, are all part of the global industry known as the sodium bromide market. This market includes a number of industries where sodium bromide is an essential chemical agent, such as oil and gas, pharmaceuticals, water treatment, and photography. It is mostly used as a clear brine fluid for drilling and well-completion activities in the oil and gas sector. Growing industrialization, increased demand for efficient bromide-based solutions, and growing applications in emerging economies are the main factors propelling the market's expansion. The oil and gas industry's growing need for sodium bromide in drilling and completion fluids due to its high density and non-damaging qualities is one of the factors propelling the market. Growing uses as a disinfectant precursor in water treatment and as a sedative and anticonvulsant in the pharmaceutical sector are also important factors. However, the Sodium Bromide market is restrained by stringent environmental regulations, high production costs, health concerns, and availability of chemical substitutes.
The industrial segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period.
Based on the product, the sodium bromide market is divided into industrial, medical, and others. Among these, the industrial segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. The essential component of flame retardants, especially in areas with strict fire safety laws, is industrial-grade sodium bromide.
The oil & gas segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the application, the sodium bromide market is divided into oil & gas, water treatment, chemical industry, and others. Among these, the oil & gas segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. The need for dependable, high-performance drilling fluids is anticipated to increase as exploration expands into deeper and more geologically difficult reserves, fostering steady oil & gas market.
Asia Pacific is expected to hold the majority share of the global sodium bromide market during the forecast period.
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Asia Pacific is expected to hold the majority share of the global sodium bromide market during the forecast period. The strong industrial basis of the Asia Pacific area, especially in China and India, where sodium bromide is widely utilized in water treatment and the expanding pharmaceutical industry, is responsible for the demand for sodium bromide. Additionally, the region's dominant position is reinforced by the rising need for flame retardants in textiles and electronics due to fast urbanization and industry growth.
North America is anticipated to grow at the fastest pace in the global sodium bromide market during the forecast period. Growing demand from the water treatment, pharmaceutical, and oil and gas sectors propels North America. Regional capacity and efficiency are being increased by technological developments in the manufacture of high-purity and low-toxicity sodium bromide as well as strategic investments made by major market participants. Government rules that support safe chemical handling and environmental sustainability are also influencing market dynamics.
Major vendors in the global sodium bromide market are ICL, LANXESS, Merck KGaA, Tosoh Corporation, Albemarle Corporation, TETRA Technologies, Inc., Jordan Bromine Company, Shandong Tianxin Pharma-Tech Co., Shandong Tianyi Chemical Co., Ltd., Shandong Haiwang Chemical Co., Ltd., and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In November 2023, in Ras Al Khaimah, Utico and Shandong Tianyi Chemical Co., Ltd. established the first circular economy project in the GCC with the introduction of a ground-breaking USD 45.2 million joint venture. It will help the UAE's sustainability objectives and the Belt and Road partnership with China by extracting industrial chemicals, such as sodium bromide, from desalination brine.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the sodium bromide market based on the below-mentioned segments:
Global Sodium Bromide Market, By Product
- Industrial
- Medical
- Others
Global Sodium Bromide Market, By Application
- Oil & Gas
- Water Treatment
- Chemical Industry
- Others
Global Sodium Bromide Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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