Sodium Borohydride Market by latest Key Players Nantong Hongzhi Chemicals, Zhangjiagang Jinyuan Biochemical, Jiangsu Huachang Chemical, Qingdao KYX, Anhui Jin'ao Chemical
Sodium Borohydride Market is estimated to grow at a moderate rate from 2016 to 2024 owing to the growth in wood pulp, textile, and pharmaceuticals industries.
(EMAILWIRE.COM, August 03, 2018 ) Sodium borohydride market will witness growth on the account of its application to produce sodium dithionite, a reducing agent used in wood pulp and bleaching industries. Sodium dithionite is also used to produce alcohols by reducing aldehydes and ketones which are used to manufacture various antibiotics. Growing antibiotics demand in the underdeveloped countries of Asia Pacific and Middle East & Africa will propel the global sodium borohydride market in the coming years.
Sodium Borohydride Market size is estimated to grow at a moderate rate from 2016 to 2024 owing to the growth in wood pulp, textile, and pharmaceuticals industries.
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Extensive usage as a bleaching agent in wood pulp and textiles industry will be a major driver for the global sodium borohydride market in the coming years. Pulp and paper industry is likely to grow on the account of increasing demand from the packaging industry. Environmental sustainability of pulp-based packaging material for food products will be a major boosting factor. Rising worldwide pulp consumption and growing textiles industry owing to changing consumer preference for natural fiber based textiles will also augment the industry growth.
Sodium borohydride is also used as a hydrogen storage agent due to high hydrogen density, low cost, and relative air stability. With the current global trend to use alternative and clean energy rising, use of hydrogen as a clean fuel is being considered by many countries. Although this trend will lead to increased product use, but commercial and large-scale use of hydrogen as fuel is still far away due to technological limitations. Scope for the product to be used as hydrogen storage agent by energy and automobile industry is mostly at the research phase and will provide a plethora of opportunities for sodium borohydride market growth in the coming years.
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The product is also used in the synthesis of gold nanoparticles, which are used in various fields such as electron microscopy, chemotherapy, radiotherapy, medical research etc. Gold nanoparticles industry is expected to grow by over 25% CAGR in the forecast period which will drive the sodium borohydride market.
Safety issues pertaining to the handling and usage of the product may hamper the sodium borohydride market growth during the forecast period as companies will look for safer alternatives. The chemical has been deemed hazardous and can cause skin and eye irritation, as well as severe gastro-intestinal and pulmonary disorders. Flammability of the product also increases the storage concerns and may have an adverse effect on sodium borohydride market growth.
Major companies operating in the sodium borohydride market are The Dow Chemical Company, Vertellus Specialities, Kemira, and Montgomery Chemicals. Market participants also include Shandong Guobang Pharmaceutical Industry, Nantong Hongzhi Chemicals, Zhangjiagang Jinyuan Biochemical, Jiangsu Huachang Chemical, Qingdao KYX, Anhui Jin'ao Chemical, Shanghai Shenyu Pharmaceutical & Chemical, Guangxi Guilin Pharmaceutical and others.
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Sodium Borohydride Market size is estimated to grow at a moderate rate from 2016 to 2024 owing to the growth in wood pulp, textile, and pharmaceuticals industries.
Request for an in-depth table of contents for this report @
https://www.gminsights.com/request-toc/upcoming/1256
Extensive usage as a bleaching agent in wood pulp and textiles industry will be a major driver for the global sodium borohydride market in the coming years. Pulp and paper industry is likely to grow on the account of increasing demand from the packaging industry. Environmental sustainability of pulp-based packaging material for food products will be a major boosting factor. Rising worldwide pulp consumption and growing textiles industry owing to changing consumer preference for natural fiber based textiles will also augment the industry growth.
Sodium borohydride is also used as a hydrogen storage agent due to high hydrogen density, low cost, and relative air stability. With the current global trend to use alternative and clean energy rising, use of hydrogen as a clean fuel is being considered by many countries. Although this trend will lead to increased product use, but commercial and large-scale use of hydrogen as fuel is still far away due to technological limitations. Scope for the product to be used as hydrogen storage agent by energy and automobile industry is mostly at the research phase and will provide a plethora of opportunities for sodium borohydride market growth in the coming years.
Request for customization of this report @
https://www.gminsights.com/roc/1256
The product is also used in the synthesis of gold nanoparticles, which are used in various fields such as electron microscopy, chemotherapy, radiotherapy, medical research etc. Gold nanoparticles industry is expected to grow by over 25% CAGR in the forecast period which will drive the sodium borohydride market.
Safety issues pertaining to the handling and usage of the product may hamper the sodium borohydride market growth during the forecast period as companies will look for safer alternatives. The chemical has been deemed hazardous and can cause skin and eye irritation, as well as severe gastro-intestinal and pulmonary disorders. Flammability of the product also increases the storage concerns and may have an adverse effect on sodium borohydride market growth.
Major companies operating in the sodium borohydride market are The Dow Chemical Company, Vertellus Specialities, Kemira, and Montgomery Chemicals. Market participants also include Shandong Guobang Pharmaceutical Industry, Nantong Hongzhi Chemicals, Zhangjiagang Jinyuan Biochemical, Jiangsu Huachang Chemical, Qingdao KYX, Anhui Jin'ao Chemical, Shanghai Shenyu Pharmaceutical & Chemical, Guangxi Guilin Pharmaceutical and others.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: http://algosonline.com/news
Contact Information:
Global Market Insights, Inc.
Arun Hegde
Tel: 1-888-689-0688
Email us
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Global Market Insights, Inc.
Arun Hegde
Tel: 1-888-689-0688
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results