Global Sodium Borohydride Market to Hit Sales of USD 2,606 Million by 2032, at 5.89% CAGR Growth: Astute Analytica
The sodium borohydride market shows strong signs of continued growth. This expansion is primarily driven by the expanding pharmaceutical industry, the global focus on clean energy solutions, and the pulp & paper industry's emphasis on sustainability. New and emerging applications will also contribute to the positive outlook.
New Delhi, March 25, 2024 (GLOBE NEWSWIRE) -- The global sodium borohydride market was valued at US$ 1,557 million in 2023 and is projected to reach a valuation of US$ 2,606 million by 2032, at a CAGR of 5.89% during the forecast period 2024–2032.
According to Astute Analytica, the global sodium borohydride production reached around 826k tons in 2023. Global consumption closely follows these production levels. The pulp and paper business is the largest consumer of sodium borohydride in the world, mainly for mechanical pulping. Sodium borohydride is also used as an important reducing agent in the synthesis of various medicines by pharmaceutical companies. Sodium borohydride has versatility that makes it a candidate for hydrogen storage technology, which the clean energy industry is growing. Sodium borohydride is also used in textiles, packaging and fine chemical production.
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But within each use case, there are alternatives to using sodium borohydride. The pulp & paper sector often uses hydrogen peroxide for bleaching instead of sodium borohydride, but its lack of selectivity compared to sodium borohydride may be a barrier for widespread adoption in the global sodium borohydride market. In drug manufacturing, there are other reducing agents or completely different synthetic methods that could be possible depending on the specific medication being manufactured. For hydrogen storage researchers are studying metal hydrides, ammonia-based systems and other methods.
Manufacturers in this industry face several challenges including cost and price volatility of raw materials; compliance with stricter environmental regulations impacting manufacture and handling; safety concerns associated with hydrogen release during decomposition; and a moderately concentrated market landscape under intense competitive pressures from rivals, particularly smaller ones.
*Key Findings in Sodium Borohydride Market *
Market Forecast (2032) US$ 2,606 Million
CAGR 5.89%
Largest Region (2023) Asia Pacific (45%)
By Type Powder (67.7%)
By Application Pulp & Paper (35.6%)
Top Trends · Growing emphasis on hydrogen storage solutions for clean energy.
· Increased focus on sustainability and environmentally friendly chemicals.
· Research and development for improved sodium borohydride stability and efficiency.
Top Drivers · Expansion of the global pharmaceutical industry.
· Shift towards renewable energy and decarbonization efforts.
· Pulp & paper industry prioritizing sustainable bleaching methods.
Top Challenges · Fluctuations in the cost and availability of raw materials.
· Evolving environmental and safety regulations.
· Safe handling and storage requirements due to hydrogen release potential.
*Supply Chain Dynamics *
Sodium borohydride market supply chain dynamics concern the availability of sodium, hydrogen, and boron. In addition to this, multiple companies are involved in its production and distribution. The production of sodium borohydride does not depend on supply constrained critical minerals or expensive ingredients, so we don’t need to worry about it running out anytime soon. Guobang Pharmaceutical Group Co., Ltd., a global pharmaceutical manufacturer with significant supply chain advantages and a complete industrial platform, is one of many companies that play a role in the manufacturing and distribution of this compound. Wego Chemical Group is a long-experienced distributor of sodium borohydride who supplies it to customers in numerous industries across four continents.
Sodium borohydride can be manufactured through different processes in the global sodium borohydride market. For example, we can use the Bayer Process which combines metallic sodium, borax and hydrogen in the presence of silica at high temperatures to produce sodium borohydride as one option for making it. There are various things that impact market dynamics of sodium borohydride. One factor worth mentioning is industry demand for reducing agents has gone up recently; which has had an effect on price. Sodium Borohydride is used as a reducing agent for the reduction of metal ions and functional groups as well as in synthesis of polymers and polymer modifications. Manufacturers also provide various purity grades to cater different applications.
*Pulp & Paper Industry Generated More than $553.64 million in Revenue in 2023*
Sodium borohydride is the go-to bleaching agent for the pulp & paper industry. The mechanical pulping process, which produces nearly 90% of printing and writing paper worldwide, yields pulp that still contains lignin. This natural polymer gives paper a brown tint and reduces its strength and shelf life. Sodium borohydride’s exceptional bleaching efficiency allows manufacturers to achieve an 80-85 ISO brightness level (a key industry measure of whiteness) using just 0.5-3% sodium borohydride on dry pulp. Traditional chlorine-based bleaching methods require as much as 5% chlorine dioxide to get comparable results.
Sodium borohydride also outperforms other bleaching agents in ways that solidify its standing in the pulp & paper industry. Unlike chlorine-based products, it is highly selective, attacking primarily only chromophores—color-causing agents—in lignin while leaving cellulose fibers largely intact. In fact, studies have shown that up to 90% of cellulose fibers are preserved when using sodium borohydride to bleach; chlorine dioxide bleaching can degrade as much as 20% of these crucial fibers. The net result is stronger paper products.
The global demand for paper is forecasted by Astute Analytica to exceed 480 million metric tons by 2032, driven by e-commerce packaging needs among other factors. With sustainability concerns growing, the market for sodium borohydride in the pulp & paper industry will also expand: Consumers and businesses increasingly want products made from responsibly sourced materials using Earth-friendly manufacturing methods. The use of sodium borohydride fits those requirements well because it generates far fewer potentially harmful byproducts than traditional chlorine-based processes do.
*Asia Pacific is Poised to Generate More than 45% Revenue of Global Sodium Borohydride Market, Pegged to Grow at the Highest CAGR of 8.06%*
There are many reasons the Asia Pacific is doing so well in the sodium borohydride market. For one, they have a vast and quickly growing pharmaceutical sector that has significantly increased demand for sodium borohydride as a reducing agent in drug synthesis. With countries like China and India leading the charge, it makes sense why this region does so well here. On top of that, their rapid growth in the pulp and paper industry has also contributed to demand for the chemical because it’s a preferred bleaching agent.
While those two factors may be more expected, it’s really Asia Pacific’s push toward clean energy initiatives that is opening up even more opportunities for them. Government policies across countries here have largely been focused on renewable energy technologies like hydrogen storage which draw interest to sodium borohydride as a potential solution. As we all know, governments can make or break markets, so with such strong support behind these alternative sources of power, there is no doubt this region will continue to thrive in sodium borohydride.
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*Global Sodium Borohydride Market is Moderately Consolidated, Top 10 Players Hold Less than 65% Revenue Share *
The sodium borohydride market features a moderately concentrated structure, with the top 10 players controlling around 55–75% of the global market. Such concentration reflects strong market control by major companies including Vertellus Holdings LLC, Kemira Oyj, Nantong Hongzhi Chemical Co., and more. These established players shape the dynamics of the market through their capabilities in production, technology and marketing.
Strong global presence is one of the many reasons that make leading players such as Vertellus Holdings LLC and Vertellus Specialties Inc. special. They produce chemicals that cover all corners of science including sodium borohydride. Kemira Oyj is another dominant player with great expertise in pulp & paper (major consumer of sodium borohydride). Manufacturers based in China like Nantong Hongzhi Chemical Co., Ltd., Jiangsu Huachang Chemical Co., Ltd take advantage of growing clean energy sectors to maintain their prominence.
In this landscape, it is crucial for companies in the sodium borohydride market to build and sustain their output if they want to have any influence on the market. Reliable expansion has proved vital for maintaining a competitive edge particularly when responding to Asia Pacific's ever-growing demand. In addition, process optimization and development of specialized formulations provide advantages such as differentiation and capturing valuable segments respectively. Sustainability also plays a huge role in today's world since buyers prioritize manufacturers who can demonstrate environmentally friendly production practices and integration within sustainable supply chains. Lastly but not least, companies with established regional footprints specifically set in Asia Pacific have rock solid foundation because they are at proximity to rapidly growing demand centers.
*Global Sodium Borohydride Market Key Players*
· Vertellus Holdings LLC
· Kemira Oyj
· Nantong Hongzhi Chemical Co., Ltd.
· Montgomery Chemicals LLC
· Jiangsu Huachang Chemical Co., Ltd.
· Shandong Guobang Pharmaceutical Co., Ltd.
· Zhangjiagang City Jinyuan Biochemical Co., Ltd.
· Vertellus Specialties Inc.
· Nantong Depu Chemical Co., Ltd.
· Hangzhou Motto Science & Technology Co., Ltd.
· Chongqing Jingkai Chemical Co., Ltd.
· Nantong Baisheng Chemical Co., Ltd.
· Anhui Jin'ao Chemical Co., Ltd.
· Wuxi City Jinyuan Chemical Industry Co., Ltd.
· Shahid Rasouli Petrochemical Company
· Other Prominent Players
*Key Segmentation:*
*By Type*
· Powder
· Pellet
· Solutions
· Granules
*By Application*
· Pharmaceuticals
· Pulp & Paper
· Metal Recovery
· Textile
· Organic Chemical Purification
· Others
*By Region*
· North America
· Europe
· Asia Pacific
· Middle East & Africa (MEA)
· South America
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*About Astute Analytica*
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CONTACT: Vipin Singh
BSI Business Park, H-15,Sector-63, Noida- 201301- India
Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)
Email: sales@astuteanalytica.com
Website: https://www.astuteanalytica.com/