Increasing demand for bleaching agents is driving the global sodium borohydride market.
The global Sodium Borohydride market is expected to develop USD 2.47 Billion by 2028, at a compound annual increase in price (CAGR) of 5.1% throughout the forecast period.
Covid-19 Impact & Market Status
The COVID-19 epidemic has driven governments to impose strict social segregation and lockdowns, upsetting the global economic curve, especially in underdeveloped countries. As a result, virtually every market has been disturbed, and the market for sodium borohydride has also been significantly impacted. Moreover, lack of raw material supply slowed the manufacturing of sodium borohydride, which had detrimental effect on the global sodium borohydride expansion. Due to the COVID-19 epidemic, there have been significant disruptions in the import and export of chemicals, including sodium borohydride. The size of sodium borohydride production has been lowered as a result of plant closures in China and the US in the second quarter of 2020. However, the global sodium borohydride market is expected to rebound quickly with a stronger CAGR in the near future thanks to continuously improving work place safety regulations by firms as well as development strategies by various governments throughout the world.
Powder-Based Sodium Borohydride To Emerge As The Most Lucrative Segment
The global sodium borohydride market is divided into four categories depending on type: aqueous solution, powder-based sodium borohydride, granular-based sodium borohydride, and organic solution. Due to its numerous applications in the pharmaceutical sector as well as ongoing research and development efforts, powder-based sodium borohydride has the highest level of market profitability.
Pulp And Paper Segment To Maximize Revenue
The global sodium borohydride market is divided into pharmaceuticals & agro-chemicals, pulp and paper, metal recovery, textiles, organic chemical purification, and others based on application. The largest market share was held by the pulp and paper category. This is explained by the fact that pulp-based food packaging materials' environmental sustainability is quickly rising. In addition, the need for pulp is increasing globally, and the sector is growing as a result of shifting customer choices for natural fiber. Due to improved tissue use and increased awareness of personal hygiene and cleanliness, the pulp and paper industry is expected to see high demand. Other popular applications like packaging, home appliances, printing, etc., which are on the rise, balance off the decline in stationary applications in nations with advanced digital infrastructure.
Asia Pacific Dominated the Worldwide Sodium Borohydride Market
Owing to the expansion of pharmaceutical operations, particularly in developing nations like China and India, the Asia Pacific region will have profitable growth over the projection period. The sodium borohydride market in this area will improve as a result of China's excess production capacity and rising paper and pulp output in South East Asian nations. The market is anticipated to rise as a result of factors including rising industrial activity, expanding packaging need, and alternative energy research and development in the field. Additionally, the region would see a high growth rate during the evaluation period due to expanding healthcare infrastructure.
Owing to the benefits of sodium borohydride such as presence of additional easily reducible functional groups, sodium borohydride can be used to reduce aldehydes, ketones, or acid chlorides. The solvents employed for the reduction are indicative of sodium borohydride's comparatively low reactivity. Sodium borohydride is effective at reducing aldehydes and ketones to alcohols.
Technology is transforming the healthcare industry globally. Governments and various important pharmaceutical corporations have launched attempts to create cutting-edge antibiotics for a variety of ailments as a result of this technical breakthrough. Sodium borohydride plays a crucial role in the production of antibiotics which has influenced its extremely high demand within the pharmaceutical industry.
Global Sodium Borohydride Market is estimated be worth 2.57 billion USD by 2029. The main factors that are projected to drive sodium borohydride demand during the forecast period are increase in research and development linked to the creation of various vaccines and pharmaceuticals for the treatment and prevention of various diseases.
Its popularity is influenced by its low cost and easy to use characteristics. Moreover it is safer than other reagents used for reduction. Thus it is frequently employed in chemistry labs. In synthetic applications, sodium borohydride reduction gives a substantial benefit. The procedure permits the selective reductive elimination of halides while leaving other functional groups, such as ester, carboxylic acid, nitrile, and sulfone unaffected.
Sodium borohydride is an inorganic substance with the formula NaBH4. This white substance, which is often found as a powder, is a reducing agent that has uses in both laboratory and industrial chemistry. Although it has been tried as a pretreatment for pulping wood, the expense prevents its commercialization. Although it slowly hydrolyzes, the molecule is soluble in water, certain ethers, and alcohols. The main usage of sodium borohydride is the synthesis of sodium dithionite from sulphur dioxide, which is employed in the bleaching of wood pulp and the dyeing process. Aldehydes and ketones are reduced by sodium borohydride to get the corresponding alcohols. Sodium borohydride has also found usage in the industrial sector due to its great capacity to operate as a reducing agent in chemical processes. Because it serves as a hydrogen transporter, sodium borohydride may be utilized to store hydrogen.
However, safety issues regarding the handling of sodium borohydride and increasing accidents such as severe eye and skin injuries while handling the agent is limiting its adoption. Moreover, sodium borhydride is corrosive in nature, This is impeding the growth of global sodium borohydride market. Furthermore, the its key characteristics as highly energetic reducing reagent and greater usage in synthetic applications is driving the demand. This is anticipated to be a growth opportunity to the global sodium borohydride market.
The key players in this global sodium borohydride market are Kemira, Anhui Jin'ao Chemical, Jiangsu Huachang Chemical, Shandong Guobang Pharmaceutical, Zhangjiagang City Jinyuan Biochemical, Montgomery Chemicals, Vertellus Specialty Materials, Shaanxi Hanjiang Pharmaceutical Group, and Nantong Hongzhi Chemical among others.
Latest Innovations in the Global Sodium Borohydride Market
- Integration of chemical and electrochemical reduction is a recent development in sodium borohydride reduction in coal water slurry desulfurization. Because fuel combustion can directly result in the emission of hazardous gases, such as SO2, sulfate particulate matter (SPM), causing environmental pollution and other problems that endanger public health and community property, as well as shortening the life of the engine due to corrosion, clean fuel technologies have been widely advanced in today's society.
- High pressure, hydrogen atmosphere, sodium borohydride manufacturing process innovation using borosilicate glass. proposes a novel method for creating sodium borohydride, a substance that may be utilized to store hydrogen. The conversion reaction of borosilicate glass, which occurs between 400 and 500 C at a high hydrogen pressure of 22 atm, provides the basis for the procedure. In order to make borosilicate glass, borax (Na2B4O7) is sintered with quartz powder SiO2 and heated with metallic sodium (Na) under intense hydrogen pressure.
Sodium Borohydride Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 2.57 billion|
|Segment Covered||Application, Type, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Kemira, Anhui Jin'ao Chemical, Jiangsu Huachang Chemical, Shandong Guobang Pharmaceutical, Zhangjiagang City Jinyuan Biochemical, Montgomery Chemicals, Vertellus Specialty Materials, Shaanxi Hanjiang Pharmaceutical Group, and Nantong Hongzhi Chemical among others.|
Key Segments of the Global Sodium Borohydride Market
Type Overview, 2022-2029 (USD Billion)
- Caplets-based sodium borohydride
- Powder-based sodium borohydride
- Aqueous solution
- Granular-based sodium borohydride
- Organic solution
Application Overview, 2022-2029 (USD Billion)
- Organic chemical purification
- Pharmaceuticals & agro-chemicals
- Pulp and paper
- Metal recovery
Regional Overview, 2019-2029 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa