Sodium Bromide Price Trend

Sodium Bromide Prices December 2023

The last quarter of 2023 showed a small drop in the cost of sodium bromide in the Indian market as compared with prices registered in the third quarter. This price of this quarter surpasses the last quarter of 1700 USD/MT CFR (JNPT Mumbai). This is a decrease from the previous quarter, which depicts the bearish tendency of sodium bromide in India during this period.

In Q4 2023 the Netherlands, one of the big players in the sodium bromide market in the European Union, faced a price drop due to the difficulties in the industry. The sodium bromide price dropped by 6% in Q2 2023 compared to Q1, with another 5% fall happening in the middle of the quarter. This decline is due to weak demand, increased production costs, and the low sentiment of the market in the region. The last quarter finished the Sodium Bromide price of 1575 USD/MT FD Rotterdam in the Netherlands.

Sodium Bromide Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Sodium Bromide Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of sodium bromide pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of sodium bromide at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of sodium bromide price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing sodium bromide price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Sodium Bromide Market Analysis

The global sodium bromide market size reached 146.6 In Thousand Tonnes in 2023. By 2032, IMARC Group expects the market to reach 221.2 In Thousand Tonnes, at a projected CAGR of 4.70% during 2023-2032.

• The market is majorly driven by the extensive product usage in the oil and gas sector, where high-density solutions of sodium bromide are essential for drilling and maintaining oil wells.
• Continual advancements in pharmaceutical formulations continue to sustain its demand, as it is critical in producing various medicinal compounds.
• The trend towards using more environmentally friendly biocides in water treatment is also promoting the market, as sodium bromide is considered safer compared to other halogenated alternatives.
• Ongoing research and development (R&D) efforts aimed at improving the efficiency and applications of sodium bromide, ensuring its relevance and utility in a changing industrial landscape.
• Sodium bromide, with its relatively low environmental impact compared to other brominated compounds, is becoming a preferred choice across various end-use industries needing to comply with stricter environmental regulations.
• In electronics manufacturing, sodium bromide can be used as a flame retardant and a component in the production of some types of batteries and electronic components, where stability and safety are paramount.
• The increasing demand from the photographic industry, where sodium bromide is used in photographic emulsions to enhance image quality, as it leverages the compound's ability to form light-sensitive silver bromide crystals, crucial for traditional film photography.
• The chemical industry's focus on innovation in material sciences often leverages sodium bromide's properties in the development of advanced polymers and composites, thereby fueling the market.
• The increasing number of residential and commercial pools due to urbanization and lifestyle upgrades supports sustained demand for water treatment chemicals, including sodium bromide.
• The ongoing advancements in recycling and waste management technologies present new opportunities for the use of sodium bromide, especially in innovative applications such as the detoxification and stabilization of industrial waste.
• The cosmetics and personal care industry presents new opportunities for sodium bromide, particularly in formulations requiring antimicrobial and preservative qualities.
• Sodium bromide is increasingly being explored in biotechnological applications for its role in molecular biology, particularly in the preparation of density gradients used in dna isolation and purification.

Sodium Bromide News

The report covers the latest developments, updates, and trends impacting the global sodium bromide market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in sodium bromide production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the sodium bromide price trend.

Latest developments in the sodium bromide industry:

• On June 5, 2023, Albemarle Corporation released its annual Sustainability Report, titled "Committed to Building a More Resilient World," detailing progress on environmental and diversity targets. CEO Kent Masters upheld the principle of transparency, integrity with sustainable advancement with the aim of innovation which comprises people and the planet.
• On May 31, 2022, ICL published its 2021 Corporate Responsibility (ESG) report, detailing advances in sustainability, including new product development in food, agriculture, and industrial sectors. The report identifies targets like a 30% reduction in greenhouse gas emissions by 2040, having 50% renewable energy consumption, and promoting community engagement which involves the commitment to donate 1% of pre-tax income annually.
• On April 17, 2024, BASF, SABIC, and Linde inaugurated the world’s first large-scale electrically heated steam cracking furnace demonstration plant at BASF’s Verbund site in Ludwigshafen, Germany, following three years of development and construction. The plant is presently prepared for industrial operation after the parties had signed the joint agreement in March 2021, aimed at developing and demonstrating the technology.

Product Description

Sodium Bromide (NaBr) is an inorganic compound that is usually utilized as a source of the bromide ion. This is a white, crystalline solid that is water soluble and widely applicable in different industries due to its properties. The main production process is the reaction of NaOH with Br2 which gives a simple and productive reaction. Sodium bromide exists mainly in two forms: it exists in two forms: the anhydrous and dihydrate form with the former being more popular commercially.

Sodium bromide becomes significant in different applications. It asserts itself as the finishing and workover fluid in oil wells, ensuring the drilling process by maintaining the wellbore. Furthermore, it is used as a raw material in making of fire retardants because of its ability to extinguish the flammability of different things.

The advantages of sodium bromide are that it can act as a multi-purpose brominating reagent, in a range of organic and organometallic reactions, and supply of stable bromide ions. Besides, this substance is also applied in the photo processes which is used in film development to create silver bromide for the formation of photographic images. Its use in water treatment, particularly in spas and hot tubs, as a bactericide and algaecide highlights its versatility and effectiveness.

Regional Coverage

The report provides a detailed analysis of the sodium bromide market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the sodium bromide price trend.

Global Sodium Bromide Price

The report offers a holistic view of the global sodium bromide pricing trends in the form of sodium bromide price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of sodium bromide but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed sodium bromide demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Sodium Bromide Price

In Q4 of 2023, the European sodium bromide market was riddled with multiple challenges. During the first quarter, there was a decrease in demand in major sectors like water treatment and oil drilling which affected the number of inquiries as well as the consumption levels. Concurrently, the cost of producing sodium bromide escalated, influenced by volatile natural gas prices and rising costs in the upstream hydrobromic acid market. These increased production expenses exerted upward pressure on sodium bromide prices. The market sentiment during this period was predominantly bearish, characterized by limited inventories and reduced manufacturing rates, reflecting a general lack of market confidence.

This analysis can be extended to include detailed sodium bromide price information for a comprehensive list of countries.

North America Sodium Bromide Price

The North American sodium bromide market experienced mixed results in the fourth quarter of 2023 depending on several factors. Initially, prices dropped because of a weak demand outlook combined with quotes lowered by the main exporting countries like Israel, China, and Jordan. Additionally, consumption rates in the U.S. remained low, affected by an excess of inventories within the domestic market. This surplus led to a cautious approach among buyers, further contributing to the subdued market dynamics during this period.

Specific sodium bromide historical data within the United States and Canada can also be provided.

Middle East and Africa Sodium Bromide Price

The report explores the sodium bromide pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on sodium bromide prices for countries can also be provided.

Asia Pacific Sodium Bromide Price

In the fourth quarter of 2023, the Sodium Bromide market in the APAC region showed mixed performance, influenced by various factors affecting prices and market dynamics. Initially, the market had a moderate supply chain with steady imports. Demand for Sodium Bromide was moderate, driven by inquiries from industries such as water treatment and pharmaceuticals. However, the overall demand did not meet expectations, leading to a somewhat bearish market trend. Additionally, the presence of sufficient inventories in the region further suppressed demand, contributing to the subdued market atmosphere during this period.

This sodium bromide price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Sodium Bromide Price

The analysis of sodium bromide prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of sodium bromide pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting sodium bromide price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The sodium bromide price charts ensure our clients remain at the forefront of the industry.