Sodium Borohydride Market
Sodium Borohydride Market (End Use: Pharmaceuticals, Pulp and Paper, Metal Recovery, Textiles, Organic Chemical Purification, Agrochemicals, and Electronic Products) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
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Sodium Borohydride: Description
- Sodium borohydride is inorganic compound having chemical formula NaBH4. This inorganic compound is available in form of white crystalline powder and also in aqueous solution which finds useful in wide application in laboratory as well as technical purpose. Sodium Borohydride is mainly used as versatile reducing agent.
- The major application of sodium borohydride finds in pulp & paper and pharmaceuticals. In pulp & paper, it is used as reducing agent which helps in bleaching pulp to decrease color and increase the brightness.
- In pharmaceutical, sodium borohydride is used in chemical reaction to produce antibiotic drug. Sodium borohydride also found application in industrial segment and used in metal recovery and chemical purification due to its property of acting as reducing agent in chemical reaction.
- Sodium borohydride acts as hydrogen carrier and can be used to store hydrogen. Based on this characteristics, efforts are being made to use sodium borohydride in Hydrogen-On-Demand technology in fuel cell segment. Thus, sodium borohydride is expected to have huge demand in fuel cell technology in coming years.
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What are Key Growth Drivers of Global Sodium Borohydride Market?
- Increase in research & development related to invention of various vaccines and medicinal drugs for treatment and prevention of various disease are the major driving factors which is anticipated to propel the demand for sodium borohydride during the forecast period.
- Sodium borohydride for pharmaceutical is expected to grow at CAGR of above 5% in terms of volume during the forecast period.
- The worldwide healthcare sector is transformed technologically. As a part of this technological advancement, governments as well as many key companies from pharmaceutical sector have taken initiatives to develop advanced antibiotics for numerous diseases. As sodium borohydride plays key part in the manufacturing process of antibiotics, it has stupendous demand from the pharmaceutical sector. This factor is driving the growth of the global sodium borohydride market.
- One of the most important factors supporting the growth of the global sodium borohydride market is rising demand from the paper and pulp industry. This growth can be attributed to the thriving packing industry and growing demand for paper from this industry.
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What are Key Challenges for Global Sodium Borohydride Market?
- If certain normal industrial safety regulations are followed, sodium borohydride is safe to handle. However, it could cause irritation to the eyes, skin, and respiratory tract. Moisture increases toxicity which may result in skin burning. The hazardous impact of sodium borohydride on human health may hinder this market as consumers may opt for alternative solutions.
- The factors mentioned above have been restraining the global sodium borohydride market over the last few years
Lucrative Opportunities for Players in Global Sodium Borohydride Market
- Hydrogen is regarded as a major alternative sustainable energy resource because of its abundant availability, high-energy density, and lack of adverse environmental impact. Sodium borohydride has a high hydrogen storage capacity and is relatively stable. The concerning scenario related to environmental pollution and depletion of fossil energy resources intensifies the need for renewable and clean energy resource for the future.
- In hydrogen-on-demand systems, sodium borohydride can be used to release hydrogen as needed and the inert salt degraded in the chemical reaction process can be recycled to re-form sodium borohydride.
- Hydrogen is used in fuel cells to generate electricity and in internal combustion engines for power generation.
- This technology therefore exhibits immense potential in the automotive sector, thus providing lucrative opportunities in the near future.
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North America to Dominate Global Sodium Borohydride Market
- In terms of value, North America held the largest share of more than 36% of global sodium borohydride market in 2018.
- North America contributes majority of the global share in terms of pulp & paper and pharmaceutical manufacturing activity. This is the main factor to drive the demand for sodium borohydride market in North America.
- The region is expected to dominate the market during forecast period followed by Europe and Asia Pacific. However, Asia Pacific region is likely to experience the fastest growth in the next few years. Increase in pharmaceutical activities especially in emerging economies like China and India are the factors which is anticipated to drive the market during the forecast period.
- Increasing pharmaceutical activities related to development of various medicinal drugs and use of recycling paper especially in Asia Pacific region are responsible for driving the growth of sodium borohydride market.
Leading Players in Global Sodium Borohydride Market
- The global sodium borohydride market is highly consolidated with the major players accounting for more than 70% share.
- Key players in the sodium borohydride market are
- Vertellus Specialty Materials
- Montgomery Chemicals
- Zhangjiagang City Jinyuan Biochemical Co., Ltd.
- Nantong Hongzhi Chemical Co., Ltd
- Shaanxi Hanjiang Pharmaceutical Group Co., Ltd
- Shandong Guobang Pharmaceutical Co., Ltd
- Jiangsu Huachang Chemical Co., Ltd
- Anhui Jin'ao Chemical Co., Ltd.
Global Sodium Borohydride Market – Scope of Report
The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global sodium borohydride market to gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating a landscape for growth of the global sodium borohydride market. The study also identifies growth avenues for stakeholders. The report provides insightful information about how the global sodium borohydride market is likely to expand during the forecast period of 2019 to 2027.
The report offers intricate dynamics about different aspects of the global sodium borohydride market that aid companies operating in the market in making strategic decisions. TMR’s study also elaborates on significant changes that are highly anticipated to configure the growth of the pharmaceutical industry with respect to the global sodium borohydride market during the forecast period. It also includes a key indicator assessment to highlight growth prospects of the global sodium borohydride market and estimates statistics related to growth of the market in terms of volume (tons) and value (US$ Mn).
This study covers a detailed segmentation of the global sodium borohydride market, along with key information and a competition landscape. The report mentions company profiles of key players operating in the global sodium borohydride market, wherein various developments and expansion, and winning strategies practiced and executed by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on Global Sodium Borohydride Market
The report provides detailed information about the global sodium borohydride market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth of the market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global sodium borohydride market that would help them design successful strategies and make target-driven decisions.
- Which end use segment of the global sodium borohydride market would emerge as a leading revenue generator during the forecast period?
- What would be the Y-o-Y growth rate of the global sodium borohydride market between 2019 and 2027?
- What are winning imperatives of frontrunners in the global sodium borohydride market?
- Which end use segment is expected to generate maximum revenue in the global market for sodium borohydride during the forecast period?
Research Methodology – Global Sodium Borohydride Market
The research methodology adopted by analysts for compiling the report on the global sodium borohydride market is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the global sodium borohydride market.
For primary research, analysts have interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global sodium borohydride market.
For secondary research, analysts have scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global sodium borohydride market.
Global Sodium Borohydride Market – Segmentation
TMR’s research study segments the global sodium borohydride market in terms of type, application, and region. This report presents extensive market dynamics and growth trends associated with different segments and explains how they are influencing the growth of the global sodium borohydride market.
Pulp & Paper
Organic Chemical Purification
Others (agrochemicals, electronic products etc.)
Middle East & Africa