Published on : Feb 27, 2017
Albany, New York, February 27, 2017: Escalating research & development activities related to drugs and hike in use of recycle paper are one of the major drivers that drives the development of sodium borohydride market. The medical industry uses sodium borohydride (also known as sodium tetrahydroborate) for chemicals reactions to produce antibiotics. Market Research Hub (MRH) has publicized a new research report into its online repository and termed it as “Global Sodium Borohydride Market- forecast 2016-2024”. The report analyzes the market of sodium borohydride at global level and finds that in 2015, the market was valued $1.3 billion and projected to be worth $2.1 billion by the end of 2024. During the same forecast period of 2016-2024, the global sodium borohydride market is expected to grow at a CAGR of 5.3%.
The initial segment of the report focused on a brief introduction of sodium borohydride. Sodium Borohydride or Sodium Tetrahydroborate is an inorganic compound which is sold in form of an aqueous solution or white crystalline powders. The powder, then, decomposed by water to form sodium hydroxide. The main purpose of sodium borohydride is to act as a versatile reducing agent. It is extensively used in laboratories and in other technical applications. Also, the analysts have studied that global sodium borohydride market is anticipated to be driven by the growing prominence on the healthcare division.
In terms of end-user, the global sodium borohydride market is fragmented into pharmaceutical, pulp and paper, metal recovery, organic chemical purification, textiles and others. Out of these, the pulp and paper industry is likely to dominate the global market due to the increasing demand for paper in packing industry.
In terms of geography, the global market is categorized into following regions:
- The Middle East and Africa
- Asia Pacific
- North America and
- Latin America
Out of these, the North American regions held the largest share in the global market in 2015. Analysts anticipate that, in the coming years Asia Pacific and Europe will follow this lead.
Last segment of the report covers the key vendors in the global market in terms of attributes like company overview, business strategies, financial overview and fresh developments.
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Key companies in the global sodium borohydride market are; Kemira, Montgomery Chemicals, Vertellus Specialty Materials, Zhangjiagang City Jinyuan Biochemical Co., Ltd., Shaanxi Hanjiang Pharmaceutical Group Co., Ltd, Nantong Hongzhi Chemical Co., Ltd., Jiangsu Huachang Chemical Co., Ltd., Shandong Guobang Pharmaceutical Co., Ltd., and Anhui Jin'ao Chemical Co., Ltd.
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