Global Sodium Borohydride Market to Reach $2 Billion by 2026

SAN FRANCISCO, July 1, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Sodium Borohydride - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 6; Released: January 2021
Executive Engagements: 392
Companies: 44 - Players covered include Ascensus, LLC.; Jiangsu Huachang (Group) Co., Ltd.; JSC Aviabor; Kemira Oyj; Langfang GreatAp Chemicals Co., Ltd.; Montgomery Chemicals, LLC; Nantong Hongzhi Chemicals Co., Ltd.; Qingdao Kyx Chemical Co Ltd.; Shandong Guobang Pharmaceutical Industry Company Ltd.; T Y H Ltd.; Zhangjiagang City Jinyuan Biochemical Co., Ltd. and Others.
Coverage: All major geographies and key segments
Segments: End-Use (Pharmaceuticals, Pulp & Paper, Metal Recovery, Textiles, Organic Chemical Purification, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Africa.

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ABSTRACT-

Global Sodium Borohydride Market to Reach $2 Billion by 2026
Sodium borohydride also referred to as sodium tetrahydridoborate or sodium tetrahydroborate, is an inorganic compound. Available as a white powder, it performs as a reducing agent and finds use in laboratory and industry. Growth in the global market is driven by increasing application in pulp and paper industry, and increasing R&D activities associated with pharma and use of sodium borohydride as a hydrogen carrier in fuel cell. Sodium borohydride is employed widely in the pharmaceutical sector for the manufacturing of antibiotics and various compounds. In this industry, it is used as an effective and safe reduction technology for the manufacture of various APIs (active pharmaceutical ingredients). In the pulp and paper sector, sodium borohydride is used in the production of reductive bleach to improve newsprint and magazine grade paper. The adoption of sodium borohydride in the industry is expected to be significant, owing to the increasing use of paper for packing applications. Further, widespread use as a bleaching agent in the textiles and wood pulp market is likely to foster demand in the coming years. Sodium borohydride is also employed for hydrogen storage, owing to increased hydrogen density, air stability, and reduced cost. With the growing focus on clean energy globally, several countries are considering the use of hydrogen.

Amid the COVID-19 crisis, the global market for Sodium Borohydride estimated at US$1.5 Billion in the year 2020, is projected to reach a revised size of US$2 Billion by 2026, growing at a CAGR of 5.6% over the analysis period. Pharmaceuticals, one of the segments analyzed in the report, is projected to grow at a 6.5% CAGR to reach US$582.2 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Pulp & Paper segment is readjusted to a revised 5.7% CAGR for the next 7-year period. This segment currently accounts for a 33.6% share of the global Sodium Borohydride market. Sodium borohydride is employed widely as a reducing agent in the manufacture of various antibiotics including chloramphenicol, dihydrostreptomycin, and thiophenicol. It is employed as a precursor for producing other metal borohydrides. In pulp and paper industry, sodium borohydride is utilized mainly in the manufacture of reductive bleach to brighten newsprint- and magazine-grade paper.

The U.S. Market is Estimated at $473.9 Million in 2021, While China is Forecast to Reach $444.7 Million by 2026
The Sodium Borohydride market in the U.S. is estimated at US$473.9 Million in the year 2021. The country currently accounts for a 30.98% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$444.7 Million in the year 2026 trailing a CAGR of 7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 5.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4% CAGR while Rest of European market (as defined in the study) will reach US$477.6 Million by the end of the analysis period. Europe and North America have a stronghold over the world sodium borohydride market, due to the healthy growth of the chemicals and pharmaceutical sectors. In North America, the pulp and paper market is anticipated to stimulate demand for sodium borohydride. Growth in the Asia-Pacific region is due to increasing R&D related to alternative energies and rising industrial activity in the region. Also, the expanding pharmaceutical market, with increasing development of drugs in countries such as India and China, in addition to growing focus on paper recycling bodes well for market growth.

Metal Recovery Segment to Reach $310.3 Million by 2026
In the metal recovery application, sodium borohydride is highly beneficial for reducing metal ions to their free metal state and is a cost effective way to eliminate metals such as nickel, copper, and silver from chelated wastewater. In the global Metal Recovery segment, USA, Canada, Japan, China and Europe will drive the 4.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$192.6 Million in the year 2020 will reach a projected size of US$256.6 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$37.1 Million by the year 2026, while Latin America will expand at a 5.2% CAGR through the analysis period. More

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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com 
Email: [email protected] 

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