Sodium Bromide Prices December 2023
Product
|
Category |
Region |
Price |
Sodium Bromide |
Specialty Chemical |
India |
1700 USD/MT |
Sodium Bromide |
Specialty Chemical |
Netherlands |
1575 USD/MT |
The sodium bromide prices in India for Q4 2023 reached 1,700 USD/MT in December. The market saw a slight dip in prices, amid a bearish trend influenced by ample stock levels and moderate demand. The depreciation of the Indian Rupee further impacted the market, aligning with the general softening of prices across the region.
The price trend for sodium bromide in the Netherlands for Q4 2023 settled at 1,575 USD/MT in December. A downturn was witnessed in the market, with prices falling significantly during this period. This decline was driven by slow demand, escalating manufacturing costs, and a cautious market outlook, reflecting broader challenges within the European sector. This resulted in reduced pricing and restrained market activities.
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.
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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 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
The European market faced several challenges during the last quarter of 2023. Initial inquiries from key industries such as oil drilling and water treatment were low, leading to reduced demand and sluggish market activity. Compounding these issues were the rising manufacturing costs driven by increases in upstream hydrobromic acid prices and volatility in the prices of natural gas. These factors pressured sodium bromide prices, contributing to a bearish sentiment across the market. Inventories were kept minimal, reflecting the overall cautious stance of the market participants towards stock management and production rates.
This analysis can be extended to include detailed sodium bromide price information for a comprehensive list of countries.
Region |
Countries Covered |
Europe |
Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece, among other European countries. |
North America Sodium Bromide Price
In Q4 2023, the market in North America displayed varied responses to market conditions. The early weeks saw a drop in prices, influenced by weak demand forecasts and lower quotes from key exporters such as Jordan, China, and Israel. Inventory levels were high in the local landscape, keeping consumption subdued. As the quarter progressed, rising consumer confidence, reflecting a brighter view of future economic prospects, somewhat offset these trends. Increased consumer spending and more active market engagements were noted in November, despite the persistent concerns about inflation and potential economic slowdowns. However, usual end-of-year slowdowns in industrial activities led companies to reduce or pause production, further affecting demand negatively.
Specific sodium bromide historical data within the United States and Canada can also be provided.
Region |
Countries Covered |
North America |
United States and Canada |
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.
Region |
Countries Covered |
Middle East & Africa |
Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Asia Pacific Sodium Bromide Price
The market in the Asia Pacific region exhibited a steady yet subdued performance as the quarter unfolded. The initial stages were characterized by a stable supply and moderate demand from sectors like pharmaceuticals and water treatment. However, the availability of high inventories curtailed any significant upward price movements. Exchange rate changes, particularly the depreciation of the Indian Rupee, also played a role in shaping market dynamics. No significant disruptions or plant closures were reported, which helped maintain a consistent supply chain throughout the region, even though the demand did not reach anticipated levels.
This sodium bromide price analysis can be expanded to include a comprehensive list of countries within the region.
Region |
Countries Covered |
Asia Pacific |
China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
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.
Region |
Countries Covered |
Latin America |
Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
Report Coverage
Key Attributes |
Details |
Product Name |
Sodium Bromide |
Report Features |
Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Sodium Bromide Price Analysis, and Segment-Wise Assessment. |
Currency/Units |
US$ (Data can also be provided in local currency) or Metric Tons |
Region/Countries Covered |
The current coverage includes analysis at the global and regional levels only.
Based on your requirements, we can also customize the report and provide specific information for the following countries:
Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand*
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece*
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, Peru*
Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, Morocco*
*The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
Information Covered for Key Suppliers |
- Company Overview
- Business Description
- Product Portfolio
- Recent Trends and Developments
|
Customization Scope |
The report can be customized as per the requirements of the customer |
Report Price and Purchase Option |
Plan A: Monthly Updates - Annual Subscription
- Scope
- Historical Data for the Current Month
- Forecast for Next Month
- Total Deliverables Per Year: 12 (One Per Month)
- Includes: One PDF and Excel datasheet per month, Post Purchase Analyst Support throughout the year
Plan B: Quarterly Updates - Annual Subscription
- Scope
- Historical Data for the Current Quarter
- Forecast for Next Quarter
- Total Deliverables Per Year: 4 (One Per Quarter)
- Includes: One PDF and Excel datasheet per Quarter, Post Purchase Analyst Support throughout the year
Plan C: Biannually Updates - Annual Subscription
- Scope
- Historical Data for the Current Half
- Forecast for the Next Half
- Total Deliverables Per Year: 2 (One Per 6 Months)
- Includes: One PDF and Excel datasheet per Half, Post Purchase Analyst Support throughout the year
|
Post-Sale Analyst Support |
360-degree analyst support after report delivery |
Delivery Format |
PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
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.