According to the market research report,the global sodium bromide market has shown a steady growth trend in recent years. The global sodium bromide market sales reached a certain size in 2022 and is expected to reach a higher size by 2029 with a compound annual growth rate (CAGR) of a certain percentage (2023-2029). This indicates that sodium bromide has continued demand and potential growth in the global market.
Especially in the Chinese market, thesodium bromide industry has also shown significant development potential in the past few years. It is estimated that the market size of sodium bromide in China is expected to reach 2.27 billion yuan in 2022, and the market size is expected
to grow further by 2023. The rapid growth of the Chinese market is partly due to the acceleration of product development by domestic enterprises and the promotion of new technologies and industrial policies.
In addition, China's sodium bromideindustry under the "Belt and Road" policy, large enterprises actively layout overseas markets to expand raw material sources and reduce production costs, which also promotes the development of China's sodium bromide industry. From 2016 to 2022, the production and sales volume of sodium bromide in China and the average market price showed a significant growth trend.
Globally, the major consumer markets forsodium bromide include oil and gas, the pharmaceutical industry, silver bromide photoreceptors and other applications. The growing demand in these application areas is also an important factor driving the expansion of sodium bromide market size.
To sum up, sodium bromide is steadilygrowing in size in both the global and Chinese markets and is expected to continue this trend in the coming years. The growth of the Chinese market is
particularly rapid, thanks to the expansion of domestic and international markets and the support of industrial policies. Demand growth in the global market is driven by demand in multiple application areas.