Sodium Bromide Market – Estimated to Expand at a Robust CAGR by 2024
Global Sodium Bromide Market: Overview
The growing population along with increasing disposal income and increasing purchase parity is expected to drive the pharmaceutical industry, which will eventually boost the demand for sodium bromide. The application of sodium bromide is found in various industries such as oil and gas wells, industrial wastewater treatment, and in pharmaceutical industry. In addition, Sodium bromide is widely used to control bacteria, algal slimes, and fungal in municipal wastewater and industrial wastewater treatment. Furthermore, sodium carbon is used in photographic processing where it is used as chemical median for producing different chemicals and as a disinfectant in swimming pool coupled with chloride.
The report on the global sodium bromide market provides detail overview of the marker for new entrants as well as existing players to understand the market and help them designing new business strategies. It also covers leading players present in the sodium bromide market including their company profile, financial overview, and recent developments.
Global Sodium Bromide Market: Trends and Opportunities
The rising demand from end-user industries supporting the growth of the sodium bromide market across the world especially in developed and developing countries. Sodium bromide is chemically stable that is why it can be used with other solution of bromides and chlorides and even useful for generation of calcium sensitivity. The global sodium bromide market is on the rise owing to growing concern related to water purity coupled with increasing government initiatives and policies to handle the concern issue. However, there are some factors which are holding the growth of the market, such as lack of infrastructure and economic crises in some of the countries.
Global Sodium Bromide Market: Geographical Outlook
Based on geographical segmentation, the global market for sodium bromide can be distributed over some major regions such as Europe, the Middle East and Africa, North America, Latin America, and Asia Pacific. The rising population along with growing purchase parity are the major factors responsible for the fastest growth of sodium bromide market in the Asia Pacific region. The primary reason for this growth is attributed to growing demand for sodium bromide from developing countries such as China and India. Additionally, the Middle East and Africa region is also showing high growth due to increasing industrial and economic growth.
Global Sodium Bromide Market: Competitive Landscape
Some of the leading companies present in the global sodium bromide market include TETRA Technologies, Fisher Scientific, Tata Chemicals Ltd., Jordan Bromine Company Limited, Chemtura Corporation, Alfa Aesar, and Albemarle Corporation. Some key players are using mergers and strategic acquisitions to remain competitive in the market and increase their market share.