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 2016 - 2024
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Global Sodium Borohydride Market: Snapshot
Sodium borohydride is an inorganic compound that is sold in a white crystalline powder form or in an aqueous solution. This compound is widely used in laboratories and in other technical applications. The purpose of sodium borohydride is to act as a versatile reducing agent. The research report states that the global sodium borohydride market was valued at US$1.3 bn in 2015 and expected to be worth US$2.1 bn by the end of 2024. During the forecast years of 2016 and 2024, the global market is estimated to progress at a CAGR of 5.3%.
The global sodium borohydride market is expected to be driven by the increasing emphasis on the healthcare sector. The focus on developing antibiotics to treat a wide range of diseases is expected to play an important role in the development of the overall market. The pharmaceutical industry uses sodium borohydride for chemicals reactions to produce antibiotics. The growth of the global market will also be attributable to the booming pulp and paper industry as well.
Pulp and Paper becomes Driving Force behind Flourishing Sodium Borohydride Market
On the basis end use, the global sodium borohydride market is segmented into pulp and paper, pharmaceutical, metal recovery, textiles, organic chemical purification, and others. Out of these, the paper and pulp industry is expected to lead the global market. The demand for sodium borohydride in the paper and pulp will remain high due the rising demand for paper in the packing industry. The pharmaceutical industry is also expected to offer the global market several lucrative opportunities. The growing research and development of vaccines and drugs for treating and preventing diseases is expected to drive the growth of the overall market.
North America Market to Show Continued Growth during Forecast Period
In terms of geography, the global sodium borohydride market is categorized into North America, Asia Pacific, the Middle East and Africa, Europe, and Latin America. Out of these regions, North America held the largest share in the global sodium borohydride market in 2015. This share was a result of the flourishing pulp and paper and pharmaceutical industry in North America. The rise of manufacturing activity is also anticipated to keep the spirits up of the regional market. Analysts anticipate that, Asia Pacific and Europe will follow this lead in the coming years. Asia Pacific is projected to be the strongest contender in the global market due to the rising pharmaceutical activities in emerging economies such as India and China. In the meanwhile, the Middle East and Africa is expected be the fastest-growing market for sodium borohydride due to increased emphasis on the pharmaceutical sector. Soaring pharmaceutical activities to develop of various medicinal drugs to solving complex medical issues and use of recycled paper, especially in Asia Pacific region will be the key factors fuelling the uptake of sodium borohydride.
Some of the key players operating in the global sodium borohydride market are Kemira, Vertellus Specialty Materials, Zhangjiagang City Jinyuan Biochemical Co., Ltd., Montgomery Chemicals, Nantong Hongzhi Chemical Co., Ltd., Shandong Guobang Pharmaceutical Co., Ltd., Shaanxi Hanjiang Pharmaceutical Group Co., Ltd, Ltd., Anhui Jin'ao Chemical Co., Ltd., and Jiangsu Huachang Chemical Co. Currently, the global market is being led by Kemira, which has made the competitive landscape quite consolidated.
Global Sodium Borohydride Market: Overview
Sodium borohydride is type of inorganic compound which is used as a reducing agent in chemical process. Rising research & development activities related to medicines and increase in use of recycle paper are the major drivers that drives the growth of sodium borohydride market. North America dominates the sodium borohydride market in terms of demand however, Asia Pacific is expected to grow at highest CAGR during the forecast period. Side effects on human health and high cost of sodium borohydride is anticipated to hamper the market growth during the forecast period.
This report analyzes and forecasts the market for sodium borohydride market at the global and regional level. The market has been forecast based on volume (tons) and revenue (US$ Mn) from 2016 to 2024, considering 2015 as the base year. The study includes drivers and restraints of the global sodium borohydride market. It also covers impact of these drivers and restraints on demand for sodium borohydride market during the forecast period. The report also highlights opportunities in the sodium borohydride market at the global and regional level.
Global Sodium Borohydride Market: Segmentation
Pulp & Paper is expected to be the major segment during the forecast period, however pharmaceuticals is anticipated to grow at highest CAGR compare to other end-use segments. Increase in research & development activities in pharmaceutical for inventing different medicinal drugs and usage of sodium borohydride as hydrogen carrier in fuel cell is estimated to offer major opportunities to the sodium borohydride market in the next few years.
The report includes detailed value chain analysis, which provides a comprehensive view of the global sodium borohydride market. Porter’s Five Forces model for the sodium borohydride market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, where in end-users are benchmarked based on their market size, growth rate, and general attractiveness.
Global Sodium Borohydride Market: Regional Outlook
The study provides a decisive view of the global sodium borohydride market by segmenting it in terms of end-users. In terms of end-users, sodium borohydride is classified as pharmaceuticals, pulp & paper, metal recovery, textiles, organic chemical purification and others (including agrochemicalsetc.). These segments have been analyzed based on present and future trends. Regional segmentation includes current and forecast demand for sodium borohydride in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides the actual market size of sodium borohydride for 2015 and estimated market size for 2016 with forecast for the next eight years. The global market of sodium borohydride has been provided in terms volume and revenue. Market volume has been defined in tons and revenue in US$ Mn. Market numbers have been estimated based on end-users of sodium borohydride. Market volume and size have been provided in terms of global, regional and country level markets.
Global Sodium Borohydride Market: Research Methodologies
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represented the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research includes a search of recent trade, technical writing, Internet sources, magazines and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, and external proprietary databases, and relevant patent and regulatory databases such as ICIS, Hoover’s, oneSOURCE, Factiva and Bloomberg, national government documents, statistical databases, trade journals, market reports, news articles, press releases, and webcasts specific to companies operating in the market.
We conduct primary interviews on an ongoing basis with industry participants and commentators to validate data and analysis. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
Key Players Mentioned in this Report are:
The report comprises profiles of major companies operating in the global sodium borohydride market. 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., and Anhui Jin'ao Chemical Co., Ltd. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.
The global sodium borohydride market has been segmented as follows: