Sodium Borohydride Market Demand, Growth, Opportunities, Top Key Players and Forecast to 2023 |

Sodium Borohydride Market Overview:

Sodium borohydride is an inorganic compound sold as a white crystalline powder or in an aqueous solution. This compound is widely used in laboratories and other technical applications. The function of sodium borohydride is to act as a polyvalent reducing agent. The research report indicates that the world market for Sodium Borohydride market was valued at USD 452 million in 2017, and is expected to generate revenue of USD 794 million by end of 2025, growing at a CAGR of 7.28 % from 2017 to 2025.

Sodium Borohydride Market Drivers and Restraints:

The sodium borohydride market is increasing due to the growing demand of the pharmaceutical industry, which is an important raw material for the manufacture of various pharma products. The intensification of antibiotic research and development efforts is a reason to raise awareness in the health sector. These are the determining factors that will boost the demand for sodium borohydride in the coming years. In addition, the demand for innovative technologies such as hydrogen on demand has increased significantly, offering huge opportunities for the sodium borohydride market in the coming years. In addition, the expansion of the pulp and paper industry that requires high quality sodium borohydride has helped increase market revenues.

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The growing demand for electronic and agrochemical products with organic chemical purification, recovery of textiles and metals contributed to market growth. Whatever the benefits of sodium borohydride and its incredible performance in the global market, some restrictions can hinder growth during the forecast period. The use of sodium borohydride has several adverse health effects, such as irritation of the skin, eyes and respiratory tract, which must be controlled with the effective growth of the market. The high prices are also driving the market to grow more efficiently. However, these restrictions can be overcome because the market has to reach its maximum potential. The strong demand is evident in the emerging economies of the Asia-Pacific and Middle East regions.

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Sodium Borohydride Market Geographical Segmentation:

From the geographical perspective, the world market for sodium borohydride has been segmented in Latin America, the Middle East and Africa, North America, Asia-Pacific and Europe. North America has become the dominant segment of the world market for sodium borohydride. While the sodium borohydride market in this region may experience a slight decline, it could reach a substantial 34.5% by 2024, according to analysts. The prosperous pulp and paper industry in this region is the main driver of growth in the North America market.

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Key Takeaways from this Report:

• For different product types, end use applications and industry verticals, offers calculated growth rates (CAGR %), Volume (Units), and Value ($M) in each region to estimate the market potential.
• Identify various driving factors, constrains and untold opportunities that can impact the global marketplace
• Know the position of your competitor based on the market shares, financial performance, strategical approaches, SWOT, product benchmarking and so on.
• Increase overall revenue by understanding the geographical impact on sales and distribution channels.
• Evaluate the increase in values at each step of industry supply chain to improve process efficacy and optimize the value.
• Understand the market dynamics of leading players like deals, partnerships, new products, mergers and acquisitions in the last four years.
• Estimate the gaps in supply-demand, statics involved in import-export, and regulatory framework of the worldwide market in over 20 top nations.

Sodium Borohydride Market Key Players:

Kemira, Zhangjiagang City Jinyuan Biochemical Co., Ltd., Vertellus Specialty Materials, Nantong Hongzhi Chemical Co., Ltd., Montgomery Chemicals, Shaanxi Hanjiang Pharmaceutical Group Co., Ltd, Shandong Guobang Pharmaceutical Co., Ltd., Jiangsu Huachang Chemical Co., and Anhui Jin'ao Chemical Co., Ltd. are the prominent players of the market.

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