Sodium Bromide Prices

Sodium Bromide Prices June 2024

During the second quarter of 2024, sodium bromide prices in India reached 1761 USD/MT in June.  The market saw sharp price increase due to strong demand from the water reclamation industry as well as increasing number of manufacturing processes. Additionally, input costs increased due to global supply chain disruptions and freight challenges, contributing to the upward price momentum across the region.

During the second quarter of 2024, there was an increase in sodium bromide prices in Spain due to high demand from the water treatment and oil sectors. Even with competition from less expensive Asian products, prices increased due to strong domestic demand and increasing production expenses. At the quarter-end, the rates peaked at 1640 USD/MT, signaling a continually upward trend.

Sodium Bromide Prices March 2024

During the first quarter of 2024, sodium bromide prices in India reached 1671 USD/MT. India’s sodium bromide market faced a bearish trend due to reduced requirement and low-priced imports. High consumer inventories led to stockpiling rather than new purchases. With consistent imports and falling upstream costs, prices decreased, and this negative trend is expected to continue in near future.

Sodium Bromide Prices December 2023

The last quarter of 2023 showed a drop in sodium bromide prices in the Indian market as compared with prices registered in the third quarter. This price of this quarter surpassed the last quarter, closing at 1700 USD/MT.

During 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, with prices closing at 1575 USD/MT. This decline was observed due to weak demand and continuously growing production prices across the country.

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 the current price but also provides insights into sodium bromide historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into sodium bromide 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

Q2 2024:

During the second quarter of 2024, the market experienced major price hikes augmented by robust requirement from the water treatment and oil and gas drilling sectors. Moreover, high natural gas costs and constrained bromine supplies increased production expenses. Additionally, supply chain disruptions, particularly on account of certain issues in the Red Sea, worsened logistical problems. Spain, specifically, encountered fierce rivalry from inexpensive imports but maintained robust domestic demand. The latter half of the quarter saw a notable price rise despite the influx of lower-priced goods, reflecting a continued positive market outlook propelled by strong demand and production cost pressures.

Q1 2024:
The market in Europe saw a declining shift due to weak demand as well as reduced production prices during Q1 2024. The market was characterized by bearish sentiment, with moderate supply and reduced demand, especially in industries, such as gas and oil drilling. Although a notable year-over-year price increase was witnessed, prices fell during the quarter. Trade issues, including disruptions from the Red Sea conflicts, affected market dynamics. Despite some improvement in new export orders, global economic challenges, and economic downturn pressures in major economies like the UK and Germany dampened the market outlook.

Q4 2023:

In Q4 2023, the European sodium bromide market was riddled with multiple challenges. During the first quarter, there was a decline in demand in major sectors like oil drilling and water treatment which affected the number of inquiries as well as the consumption levels. Concurrently, the cost of producing sodium bromide escalated, influenced by volatile prices of natural gas and rising costs in the hydrobromic acid market. Consequently, 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

Q2 2024:

During Q2 2024, the market in North America market experienced steady growth. A notable rise in prices occurred, primarily fueled by heightened demand from the water treatment sector and various industries, along with increased household consumption ahead of the summer months. Although higher upstream costs added some pressure, the decrease in crude oil prices helped alleviate overall production expenses. However, the paper and textile sectors continued to show weak demand. By mid-Q2, prices kept rising owing to continuous supply constraints, which were worsened by changes in crude oil inventories and limited upstream raw material availability.

Q1 2024:

The North American market, particularly United States, witnessed a decrease in overall prices. This price decrease was driven by sluggish demand as well as reduced production costs. The market displayed a bearish outlook with stable supply and reduced demand, especially in industries such as water treatment and gas and oil drilling. In addition to this, industrial activities were generally low, supported by a steady rise in new export orders occasionally. Prices fluctuated significantly, generally trending downward. The market faced challenges from weak domestic demand and global trade disruptions, including the issues prevalent in the Red Sea.

Q4 2023:

The North American sodium bromide market experienced mixed results in Q4 2023 depending on several factors. Initially, prices dropped because of a weak demand outlook combined with quotes lowered by the main exporting countries like Jordan, China, and Israel. In the U.S., consumption levels stayed low due to an oversupply of stock within the local 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

Q2 2024:

Various factors influencing prices led to a strong uptrend in the Asia-Pacific market during Q2 2024. The market was significantly impacted by rising production costs caused by higher natural gas costs and higher shipping costs resulting from disturbances in the supply chain, including geopolitical tensions and infrastructure problems. In India, where price changes were most noticeable, there was a significant increase in demand, from the gas and oil and water treatment sectors. During the latter part of the quarter, there was a major rise in prices due to increased industrial activity and positive consumer sentiment, resulting in an optimistic market outlook.

Q1 2024:

In the first quarter of 2024, the market in APAC showed mixed results. Overall prices fell due to low demand and an influx of cheaper imports. Demand was steady but not strong, with excessive consumer inventories resulting in restocking rather than new buying. Prices  dropped slightly in India owing to low domestic demand and inexpensive imports. Key players reduced prices as a consequence of decreasing upstream costs. The market outlook remained bearish, with expectations for continued price declines and muted demand.

Q4 2023:

In Q4 2023, the APAC market saw mixed results. The supply chain was steady with consistent imports, and demand was average, driven by pharmaceuticals and water treatment. However, demand fell short of expectations, leading to a minor market downturn. High inventory levels further suppressed demand, creating a subdued market. Currency fluctuations, including INR's depreciation against USD, also contributed to a modest decline in sodium bromide prices in India. No plant closures were reported.

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.

Sodium Bromide Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Sodium Bromide Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” 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 industry size reached 146.6 Thousand Tonnes in 2023. By 2032, IMARC Group expects the market to reach 221.2 Thousand Tonnes, at a projected CAGR of 4.70% during 2023-2032.

• The market is majorly driven by the rapid product utilization 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 market demand, as the compound is critical in producing various medicinal compounds. Also, ongoing research and development (R&D) efforts aimed at improving the efficiency and applications of sodium bromide are creating a positive market outlook.
• 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.
• 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. As a result, the paradigm shift towards sustainable development is resulting in a higher product uptake across diverse sectors.
• In electronics manufacturing, sodium bromide is increasingly sought after as a flame retardant and in the production of certain batteries and electronic components due to its role in enhancing stability and safety. As a result, there is a rising demand for sodium bromide due to its critical applications in these areas.
• The growing need for sodium bromide in the photography industry is driven by its use in creating light-sensitive silver bromide crystals in photographic emulsions, which are essential for improving image quality in traditional film photography.
• 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 rising use of sodium bromide in the cosmetics and personal care industry for its antimicrobial and preservative properties is fueling market growth and creating lucrative opportunities.
• The growing exploration of sodium bromide in biotechnological applications, particularly for molecular biology and DNA isolation, is providing a strong impetus to the market.
• The growing number of residential and commercial pools, driven by urbanization and lifestyle upgrades, is impelling the demand for water treatment chemicals like sodium bromide, thereby providing an impetus to the market.

Sodium Bromide News

The report covers the latest developments, updates, and trends impacting the global sodium bromide industry, 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 November 15, 2023, Utico and Shandong Tianyi Chemical Corporation announced a groundbreaking joint venture to establish a circular economy project in Ras Al Khaimah, investing AED 160 million. This project, the first of its kind in the GCC, will extract industrial chemicals, including sodium bromide, from brine waste produced by desalination plants. The initiative supports the UAE-China bilateral cooperation under the Belt and Road Initiative and aligns with the UAE's sustainability goals, aiming to minimize environmental impact and enhance the renewables portfolio.   

Product Description

Sodium bromide is a chemical compound with the formula NaBr, consisting of sodium and bromine. It is a white, crystalline salt highly soluble in water. Sodium bromide is characterized by its high purity, with typical grades containing over 99% sodium bromide by mass. It is mainly obtained by the reaction of NaOH with Br2 which gives a simple and productive reaction. Sodium bromide exists in two forms: the anhydrous and dihydrate form, with the former being more popular commercially.

Sodium bromide’s notable properties include its ability to form stable aqueous solutions and its utility as a source of bromide ions in chemical reactions. Its advantages include its effectiveness as a reagent in analytical chemistry, where it serves as a standard for calibrating instruments and conducting titrations. Additionally, it is used in the oil and gas industry to enhance drilling fluids and improve well productivity. Its low toxicity and high solubility make it a valuable compound in various sectors, contributing to its widespread use in industrial and research applications.

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.