Global Sodium Borohydride Market to Surpass USD 3.06 Billion By 2031| Growth Market Reports

PUNE, India, June 1, 2023 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Global Sodium Borohydride Market Segments - by Type (Powder Type, Granule Type, Solution Type, and Pellets Type), by Purity (Below 98% Purity and above 98% Purity), by Application (Pulp & Paper, Pharmaceuticals, Metal Reduction, Fuel Cell, and Others), and Region: Size, Share, Trends and Opportunity Analysis, 2023-2031", the market size was USD 1.59 billion in 2022 and is expected to surpass USD 3.06 billion expanding at a CAGR of 7.49% by the end of 2031. The growing use of sodium borohydride as a bleaching agent in the paper and pulp industry is anticipated to fuel the market in the coming years.

Key Market Players Profiled in the Report

• Vertellus
• American Elements
• Ascensus
• SHILPA CHEMSPEC INTERNATIONAL PRIVATE LIMITED
• Midas Pharma GmbH
• Tokyo Chemical Industry Co., Ltd. (TCI)
• SimSon Pharma Limited
• Merck KGaA
• Spectrum Chemical
• Montgomery Chemicals, LLC
• Jiangsu Huachang Chemical Co., Ltd

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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics. It provides an in-depth analysis of the market segments, which include type, purity, application, and competitor analysis.

This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.

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Highlights on the Segments of the Global Sodium Borohydride Market

On the basis of region, the global sodium borohydride market is classified as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is projected to dominate the global market, owing to poor eating habits and rising intake of foods in the region. Asia Pacific is expected to be a rapidly growing region in the global market during the projected period, due to rising government expenditure on healthcare.

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Key Takeaways from the Study:

• Sodium borohydride, also known as sodium tetrahydridoborate and sodium tetrahydroborate.
• Sodium borohydride is widely used in industry and laboratory, as it can be reduced to a wide spectrum of organic carbonyls.
• It has applications in the pulp, electronics, pharmaceutical, paper and textile, and agrochemical industries.
• Rising usage of sodium borohydride as a multipurpose reducing agent is projected to boost the market during the forecast period.
• Increasing usage of sodium borohydride as a hydrogen-storing agent is anticipated to create lucrative opportunities for market players.
• The granule segment is projected to expand at the fastest CAGR during the forecast period. Sodium borohydride is used in the production of raw materials such as boron.
• The above 98% purity segment is likely to hold a major revenue share of the market, due to the rising product use in pharmaceutical research & development.
• The pulp and paper segment is expected to account for a key share of the market in the coming years, as sodium borohydride is used as a bleaching agent in the industry.

Read 299 Pages Research Report with Detailed TOC on "Global Sodium Borohydride Market Segments - by Type (Powder Type, Granule Type, Solution Type, and Pellets Type), by Purity (Below 98% Purity and above 98% Purity), by Application (Pulp & Paper, Pharmaceuticals, Metal Reduction, Fuel Cell, and Others), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast, 2023 – 2031"

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Key Segments Covered

Type

• Powder Type
• Granule Type
• Solution Type
• Pellets Type

Purity

• Below 98% Purity
• Above 98% Purity

Application

• Pulp & Paper
• Pharmaceuticals
• Metal Reduction
• Fuel Cell
• Others

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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