Global Sodium Bromide Market 2019-2023
About Sodium Bromide
Sodium bromide is a white, crystalline inorganic chemical available in the solid and liquid form. It is hygroscopic in nature and is used in various applications.
Technavio’s analysts forecast the global sodium bromide market to grow at a CAGR of 5.40% during the period 2019-2023.
Covered in this report
The report covers the present scenario and the growth prospects of the global sodium bromide market for 2019-2023. To calculate the market size, the report considers the revenue generated from the use of sodium bromide in different applications
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Sodium Bromide Market 2019-2023
Technavio recognizes the following companies as the key players in the global sodium bromide market: Albemarle, Lanxee, Schlumberger, TETRA Technologies.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the stringent mercury emission control. Bromine and its compounds will be used extensively to control mercury emissions during the forecast period.
According to the report, one of the major drivers for this market is the growth of the oil and gas industry. Sodium bromide is used as a heavy, clear brine in the oil and gas industry. Is is used as an oil drilling fluid for extracting crude oil.
Further, the report states that one of the major factors hindering the growth of this market is the fluctuating in crude oil prices. Fluctuation in crude oil prices lead to volatility in the manufacturing cost for bromide, which in turn, impacts sodium bromide prices.
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