The global Sodium Bromide market is growing at a fascinating rate, with Europe being the key market player in this game. In the recent development, the market prices of Sodium Bromide have showcased mixed pricing trends in the Asian and European markets. The feedstock Bromide is the critical factor determining this specialty chemical's cost. In the first quarter of 2023, the market prices of Bromine have continuously exhibited a bearish market trend amid a weaker demand outlook from the downstream flame retardant and other intermediate industries. The Sodium Bromide applications vary from the oil and gas drilling industry to the water treatment and pharmaceutical industries.

In India, the price realization for Sodium Bromide has exhibited a bearish price trend in the Q1 of 2023. In January, the prices were USD 2024 per tonne CFR JNPT which surged by 7.2% to USD 1878.85 per tonne in December 2022 owing to constraints observed in the availability of the material in India due to restricted market activities in China and economic woes in the European market. Whereas in February, the offered quotes plummeted by 9.0% in the region amid a drop in the import prices of Sodium Bromide reaching Indian shores. The freight costs slid down throughout the month, and the manufacturing units in the exporting nations maintained higher production loads, whereas ample product inventories were reported. The price dropped was observed by 1.1% in March to USD 1829 per tonne due to built-up inventories and weaker demand from the downstream oil and gas drilling industries.

Similarly, in the European region, the spot prices of Sodium Bromide showcased similar price movement. In January, the offered quotes for Sodium Bromide FD Rotterdam spiked by 7.5% to USD 1950 per tonne from USD 1814 per tonne in December 2022 in the domestic market of the Netherlands backed by positive cost support from the feedstock amidst rising inflation and high energy prices in the domestic market. According to the market participants, the demand arose mainly from the oil drilling, pharmaceutical, and detergent industries. In February and March, the prices plunged by 9.0% and 1.1%, respectively, due to built-up inventories of the product in the region. Also, the Purchasing Manager Index fell to 48.7 in February from 49.6 in the previous month. The demand outlook also deteriorated, and sluggish procurement rates of the product were registered in this period.

According to the ChemAnalyst database, the prices of Sodium Bromide are anticipated to stabilize in the coming months as a rebound in the market activities is expected, and the cost support from the feedstock is anticipated to improve.