The global market for Sodium Borohydride is projected to reach US$2.1 billion by the year 2027, trailing a post COVID-19 CAGR of 5.6%, over the analysis period 2020 through 2027. Sodium borohydride functions by reducing metal impurities, peroxides, aldehydes, and ketones, which can result in odor, color as well as product instability. The world market for sodium borohydride is driven by increasing application in pulp and paper industry, and increasing R&D activities associated with pharma and use of sodium borohydride as a hydrogen carrier in fuel cell. Sodium borohydride is employed widely in the pharmaceutical sector for the manufacturing of antibiotics and various compounds. In this industry, it is used as an effective and safe reduction technology for the manufacture of various APIs (active pharmaceutical ingredients). In the pulp and paper sector, sodium borohydride is used in the production of reductive bleach to improve newsprint and magazine grade paper. The adoption of sodium borohydride in the industry is expected to be significant, owing to the increasing use of paper for packing applications. Further, widespread use as a bleaching agent in the textiles and wood pulp market is expected to foster demand for sodium borohydride through the coming years. Increasing demand for pulp globally and the expanding textiles sector, due to rising customer preference for textiles that are made from natural fibers, are expected to bode well for the market.

Sodium borohydride is used in the production of sodium dithionite, which is a reducing agent employed in bleaching and wood pulp industries. Also, sodium dithionite is employed in the production of alcohols by reducing ketones and aldehydes which are employed to make various antibiotics. Rising demand for antibiotics, especially in the Middle East and Africa and APAC countries is expected to augur well for the market. Sodium borohydride is also employed for hydrogen storage, owing to increased hydrogen density, air stability, and reduced cost. With the growing focus on clean energy globally, several countries are considering the use of hydrogen, especially due to its easy availability, increased energy density, and no negative impact on the environment. In hydrogen-on-demand systems, sodium borohydride can be employed to release hydrogen as required, while recycling of the inert salt can be done to re-create sodium borohydride. Hydrogen is typically used in internal combustion engines and in fuel cells. While this is expected to result in greater product demand, however widespread commercial adoption of hydrogen as fuel is not expected in the near-term owing to technological barriers. The potential for the use of the product as a hydrogen storage agent by automobile and energy sectors is currently at the research stage and will offer opportunities for the market in the future.

The growing trend towards materials recycling and rising focus on renewable energy applications are also fueling gains in the market. Further, the increasing investments in R&D related to clean energy generation and conversion techniques is expected to stimulate market growth, as sodium borohydride is used for increasing alternative energy fuel cells' efficiency. Rising adoption in various industries such as pharmaceutical, textiles, metal recovery, packaging, and pulp and paper are therefore driving market growth of the global sodium borohydride market. Also, its rising use for sewage treatment and as a bleaching agent in the pharma sector is anticipated to fuel market gains. In the metal recovery application, sodium borohydride is highly beneficial for reducing metal ions to their free metal state and is a cost effective way to eliminate metals such as nickel, copper, and silver from chelated wastewater. In the textile sector, sodium borohydride is employed along with sodium bisulfite in machine cleaning, reductive clearing, color stripping, indigo dyeing and several other applications which need a stable reducing agent. And in organic chemical purification, it is used to enhance stability, odor, and color of organic chemicals. It is also employed in the synthesis of gold nanoparticles, which find application in various areas such as medical research, radiotherapy, chemotherapy, and electron microscopy. With strong growth predicted for the gold nanoparticles market, it is opportunities galore for the sodium borohydride market. But the market is expected to register challenges due to sodium borohydride's significant cost and its adverse effects on human health such as causing irritation of the respiratory tract, eyes, and skin, and chronic pulmonary and gastro-intestinal disorders. The product's flammability also gives rise to concerns related to its storage, which might negatively impact the market. The world sodium borohydride market is consolidated in nature, with leading companies holding over 70% share of the market. Europe and North America have a stronghold over the world sodium borohydride market, due to the healthy growth of the chemicals and pharmaceutical sectors.