Sodium Borohydride Market Business Opportunities, Top Manufacture, Growth, Share Report, Size, Regional Analysis and Global Forecast to 2029
The global sodium borohydride market size is expected to gain momentum owing to the increasing demand for bleaching agents during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Sodium Borohydride Market, 2021-2028.” It is an inorganic compound with a multipurpose reducing agent in various sectors such as industrial, paper industry, technical application, reducing agent, and many others. The rising demand in the packaging industry due to environmental sustainability and the chemical industry for hydrogen storage are the major contributing factors.
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Detrimental Impact of Covid-19 on Chemical Industry
Domestic and international transportation have been hampered due to the lockdown applied in several nations, which substantially influenced the supply chain of numerous sectors, consequently widening the supply-demand mismatch. Insufficient raw material supply is predicted to slow the production rate of sodium borohydride, reducing the market growth.
List of Key Players Profiled in the Global Market for Sodium Borohydride:
- Montgomery Chemicals
- Nantong Hongzhi Chemicals Co.
- Shandong Guobang Pharmaceuticals
- Anhui jin’ao Chemicals
- JSC Aviabor
By type, the market is segmented into powder, pellets, solution, and granules. On the basis of application, the market is segregated into pulp & paper, pharmaceuticals, metal reduction, fuel cells, reducing agents, and others. Finally, by geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What does the Report Offer?
This report analyzes the global sodium borohydride, current trends, and future projections to identify potential investment opportunities. The research includes a complete analysis of the market information on key drivers, restraints, and opportunities.
Drivers & Restraints-
Rising Numbers of R&D Activities to Stimulate Growth
The global sodium borohydride market growth is expected to grow due to the increased research activities for chemicals during the projected period. Rapidly increasing research and development activities in medicine, and a thriving paper & pulp sector, have increased the demand for reducing agents in a variety of end-use applications. The market is expected to grow due to its use in the production of sodium dithionite, a reducing agent used in the wood pulp and bleaching industries.
Increasing Manufacturing Base to Promote Growth in North America
North America is expected to hold the largest global sodium borohydride market share during the forecast period. A large manufacturing base, growing pulp and paper industry is predicted to drive up sodium borohydride consumption in the region.
Asia Pacific is expected to have a sizable share of the market. The increasing demand from the packaging sector, increased industrial operations, and alternative energy research and development in the region are factors expected to drive market growth.
Manufacturers Focus on R&D Investments to Strengthen their Position
The suppliers are looking for acquisition and regional growth plans to have a stronger footing. However, brand awareness and strong marketing make it difficult for new entrants into this sector. Furthermore, the introduction of internet sales is expected to provide favorable growth opportunities for industry participants.
- June 2021: Kemira, a major player in environmentally friendly chemical solutions for water-intensive sectors, is expanding its water treatment chemical production capacity in Yanzhou, China. These investments are another step ahead in Kemira’s growth strategy, and they will help meet the growing demand for water treatment in the Asia-Pacific region.
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