In 2023, the price trend of sodium bromide declined in the Asia Pacific, Europe, and North America regions. Weak demand from water treatment, pharmaceuticals, and drilling industries led to reduced imports and domestic production in Asia. In Europe, rising energy costs and low supply initially increased prices, but inquiries dropped, water treatment demand slowed, and inventories rose in the second quarter, causing a significant decline. Similarly, North America saw an initial increase but faced falling demand, lower purchasing power, imports from Asia, and economic uncertainties, leading to a negative price trend for sodium bromide throughout the first and second quarters.
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Definition
Sodium bromide (NaBr) is an inorganic salt with a white, crystalline appearance and high solubility in water. Sodium bromide is hygroscopic, meaning it readily absorbs moisture from the atmosphere. It is non-flammable and non-toxic. Sodium bromide salt is commonly used in applications, such as in the oil and gas industry as a completion and workover fluid, in photography, and in water treatment processes for the removal of mercury from industrial wastewater.
Key Details About the Sodium Bromide Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Sodium Bromide in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Sodium Bromide Price chart, including India Sodium Bromide price, USA Sodium Bromide price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Sodium Bromide Price Trend:
Sodium bromide (NaBr) has several industrial uses due to its unique properties. In the oil and gas industry, it is commonly utilized as a completion and workover fluid to control formation pressure and prevent blowouts in wells. In photography, sodium bromide serves as a restrainer, helping to control the development process of photographic films. Water treatment processes also employ sodium bromide, particularly in the removal of mercury from industrial wastewater. Moreover, this compound finds application in the pharmaceutical industry as a component in certain medications. Additionally, sodium bromide is utilized as a precursor in the production of other bromine compounds, which have various applications in chemical synthesis and manufacturing processes.
Key Players:
- Thermo Fischer Scientific
- Tata Chemicals Ltd
- Chemtura Corporation
- Alfa Aesar
- LANXESS
- ICL Industrial Products
- Shandong Haiwang Chemical Co Ltd
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