Global Sodium Bromide Market: Industry Analysis and Forecast (2020-2026)
Global Sodium Bromide Market was valued at US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2026 at a CAGR of 5.1% during the forecast period.
The sodium bromide is a white, crystalline inorganic chemical available in the solid and liquid form. It is chemically and thermally stable.
The report covers the detailed analysis of the global sodium bromide industry with the classifications of the market on the basis of grade, form, end-use industry and region. Analysis of past market dynamics from 2016 to 2019 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key player's contribution in it.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
Global Sodium Bromide Market by region
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The report has profiled sixteen key players in the market from different regions. However, report has considered all market leaders, followers and new entrants with investors while analyzing the market and estimation of market size. Manufacturing environment in each region is different and focus is given to regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analyzed.
Global Sodium Bromide Market Dynamics
The pharmaceutical industry shows growth due to increasing disposal income and increasing purchase parity, which are the primary growth drivers for the global sodium bromide market. The MMR report on the global sodium bromide market provides a detailed demand growth from the end-use industries, which propel the growth of sodium market such as oil and gas wells, industrial wastewater treatment and pharmaceutical industry.
The presence of chief alternatives such as sodium bisulphite, ammonium thiosulphate, sodium chloride and bisulfate, which have better efficiency than sodium bromide, are restrainting the growth of global market.
The use of sodium bromide for generation of calcium sensitivity due to its chemical stability, is expected to create new growth opportunity for the global sodium bromide market during the forecast period. The growing concern related to water purity, government initiatives and policies is expected to create growth opportunities for new entrants in the global sodium bromide market.
Global Sodium Bromide Market Segment Analysis
The industrial grade segment was valued at US$ XX Bn in 2019 and held more than 30% shares in the global sodium bromide market. Demand growth from production of biocides used in industrial cooling towers and pasteurizer is the primary growth driver for industrial grade segment in the global sodium bromide market. The growth of industrial grade segment is expected to grow at a CAGR of XX% during the forecast period to reach US$ XX Bn by 2026.
Global Sodium Bromide Market by Grade
Powder form segment holds the largest share of more than 35% in the global sodium bromide market. The growth in demand from the formulation of chemicals and bromide as powder sodium bromide is useful as chemical intermediate, is the growth driver for powder segment in the global sodium bromide market. Additionally, the ease of packaging and transportation of powder form sodium bromide and surging uses of powder in commercial and residential sector are also help in growth of powder segment. The growth of powder segment is expected to grow at a CAGR of XX% during the forecast period to reach US$ XX Bn by 2026.
Global Sodium Bromide Market by Form
Food & Nutrition segment is expected to grow at a significant CAGR of around 4.2% in the sodium bromide market during the forecast period. Growing health concerns, surging demand for nutritional food along with growing population are the growth drivers for food & nutrition segment in the global sodium bromide market. Asia-Pacific holds the largest shares in the food & nutrition segment. The growth of food & beverage industry from developing economies like China and India coupled with growing population drives the food and nutrition segment growth. The North America was valued at US$ XX Bn with XX% of food & nutrition segment shares in 2019. According to the Association for Packaging and Processing Technologies (PMMI) 2019 beverage report, the North America food & nutrition segment is expected to grow by 4.5% during the forecast period.
Global Sodium Bromide Market by End use
Sodium Bromide Market Regional Analysis
Global Sodium Bromide Market
Geographically, Asia-Pacific is the largest producer and consumer of the sodium bromide. The Asia-Pacific held more than 45% of the global market shares in 2019. Growth in demand from China and India is the largest contributor in the growth of sodium bromide market in Asia-Pacific. North America and Europe are as second and third largest market for sodium bromide. The growth of market in Asia-Pacific is expected to be the fastest due to the rapidly developing infrastructure and government initiatives in developing nations such as China and India. The Asia-Pacific sodium bromide market was valued at US$ XX Bn in 2019 and is expected to grow at a CAGR of XX% during the forecast period to reach US$ XX Bn by 2026.
Global Sodium Bromide Market Scope: Inquire before buying
The report helps in understanding sodium bromide dynamics, structure, by analyzing the market segments and projects the sodium bromide market size. The clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global sodium bromide market make the report investor’s guide.
The report provides detail study of the key players of the global sodium bromide market with their growth by conserving past data. In addition to that, report helps reader with the company profile, Company Overview, Financial Overview, Product Portfolio, Business Strategy, Recent Developments and Development Footprint analysis and growth strategies for each.
Global Sodium Bromide Market table
Global Sodium Bromide Market, by Region
• North America
• Asia-Pacific
• Europe
• Latin America
• Middle East & Africa
Global Sodium Bromide Market Key Players
• TETRA Technologies
• Thermo Fisher Scientific
• Tata Chemicals Ltd.
• Jordan Bromine Company Ltd.
• Chemtura Corporation
• Alfa Aesar
• Albemarle Corporation
• LANXESS
• Schlumberger
• ICL Industrial Products
• Shanddong Haiwang Chemical Co. Ltd.
• Djibouti Salt Industry Co Ltd.
• Mody Chemi-Pharma
• Hasa
• Redox Pty Ltd
• Alaska Spa
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