Sodium Borohydride Market

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
  • Kemira
  • 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.