Future Market Insights
Global Sodium Borohydride Market: Introduction
Sodium borohydride is an effective and a selective specialty reducing agent used in the manufacture of pharmaceuticals. Sodium borohydride is used for reduction of metal ions, carbonyls and peroxides as well as purification and removal of oxidation, odor and color of precursors in organic chemical products. Sodium borohydride is also used to control pollution and recycle noble metals. Sodium borohydride is a less expensive metal hydride and is an efficient and cost-effective reducing agent. Sodium borohydride finds wide area of applications in the synthesis of many intermediates used in manufacture of medicines and fine chemical products, pharmaceuticals, the recovery & preparation of catalysts, precious heavy metals & rare earth metals among others. Sodium borohydride is used as a reducing agent when reacting with ketone chlorine, aldehyde and ketone.
Global Sodium borohydride Market: Dynamics
Rapidly growing research and development activities related to medicine and the prosperous paper and pulp industry have increased the need of reducing agents for various end-use applications in many regions across the globe. The research and development activities for sodium borohydride is increasing owing to the growing pulp and paper industry. This in turn is expected to create a positive impact for the sodium borohydride market in the coming years as the product has wide application in organic chemical purification, which in turn is expected to drive the sodium borohydride market globally.
This increase in the demand from different applications in various end-use industries acts as a driving factor for the global carbon nitride market. The paper and pulp industry is expected to be propelled by the rising demand for the packaging products and the increase in research and development activities in the pharmaceutical industry for inventing new medical drugs and the use of sodium borohydride as a hydrogen carrier in fuel cell is expected to offer major opportunities for the sodium borohydride market across the globe.
It is a well-known fact that the safety regulations regarding handling of chemicals if not followed may risk human health. In regards to this, for the handling of the chemicals the manufacturers prefer to opt for safe alternatives. The sodium borohydride market is likely to expect hurdles owing to the growing awareness towards the high cost of sodium borohydride and its side effect on human health which might act as a barrier for the global sodium borohydride market.
The rapid shift towards recycling of materials and renewable energy applications are some of the factors driving the use of sodium borohydride in a wide area of applications. Sustainability is the trend for the global sodium borohydride market. The trend towards investments for research and development activities towards clean energy production and conversion technologies is expected to continue during the forecast period thereby, creating opportunities for the sodium borohydride materials market owing to its use for improved efficiency in alternative energy fuel cells.
Global Sodium borohydride Market: Segmentation
By product form, the global sodium borohydride market can be segmented into:
By end use, the global sodium borohydride market can be segmented into:
Global Sodium borohydride Market: Region-wise Outlook
By region, the sodium borohydride market is segmented into the Middle East & Africa, North America, Europe, Asia-Pacific and, Latin America regions. The flourishing pulp and paper industry in North America is expected to boost the demand of sodium borohydride market. Asia-Pacific is expected to be a significant market for the growth of sodium borohydride owing to the growing industrial activities and research & development for alternative energies. North America and Europe hold a substantial share of the sodium borohydride market owing to the rapidly growing pharmaceuticals and chemicals industries. The Middle East & Africa market for sodium borohydride is also expected to increase slowly owing to improving economic conditions in these regions.
Global Sodium borohydride Market: Key Players
Examples of some of the key players identified across the value chain of the Global Sodium Borohydride market are: Zhangjiagang City Jinyuan Biochemical Co., Ltd, Jiangsu Huachang Group Co., Ltd, Shandong Guobang Pharmaceutical Co., Ltd, JSC Aviabor, Vertellus Holdings LLC, The Dow Chemical Company, Nantong Hongzhi Chemical Co., Ltd, Montgomery Chemicals, Kemira.
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