Global Sodium Borohydride Market Overview
The global sodium borohydride market was estimated to be around USD 1550 million in 2019 and expected to reach over USD 2650 million in 2026, growing at a CAGR of around 7.5% during the forecast period. Demand for sodium borohydride is projected to swell owing to the growing application in pulp brightening, metal recovery, organic chemical purification, and pharmaceuticals manufacturing. However, the presence of other substitutes inhibits the growth of the global sodium borohydride market.
The report studies a few key players of the global sodium borohydride market in detail covering the company profile, product list, and financial details. The companies included in the report 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.
In this market research report, the market is segmented by end-use, and region.
Analysis, By End User
Based on end-users, the global sodium borohydride market is segmented into pulp and paper, metal recovery, organic chemical purification, pharmaceuticals & agrochemicals, textiles, and others. Pharmaceutical & pulp & paper dominated the global sodium borohydride market in 2019. An increase in R&D related to the invention of various vaccines and medicinal drugs for treating and preventing multiple diseases is anticipated to steer pharmaceuticals segment growth during the forecast period.
Analysis, By Region
The market is geographically analyzed across North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. In 2019, North America dominated with over 30% share. The regional growth is driven by flourishing pulp & paper and pharmaceutical manufacturing activity. Asia Pacific region is anticipated to portray the fastest growth throughout the forecast duration. Demand from Asia-Pacific is swelling due to growing industrial activities and research & development in emerging economies like China and India. Europe holds a substantial share of the sodium borohydride market due to the rapidly increasing pharmaceuticals and chemical industries.
Market Segmentation covered in the Report:
By End Use
- Pulp and Paper
- Metal Recovery
- Organic Chemical Purification
- Pharmaceuticals & Agrochemicals
- Textiles
- Others
By Region
- North America
- Europe
- the Asia Pacific
- Latin America
- The Middle East and Africa
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