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Global Sodium Borohydride Market Projected to Reach USD 2,849.19 Million by 2030, With a Sustainable CAGR Of 7.49% | Growth Market Reports
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, the global sodium borohydride market is segmented into powder type, granule type, solution type, and pellets type. The granule type segment is projected to hold a key share of the market, owing to the rising use of granule type in various industrial applications since it acts as a mild reducing agent.
, the market is bifurcated into below 98% purity and above 98% purity. The above 98% purity is projected to hold a key market share in the coming years owing to the wide use of the purity type in pharmaceutical research & development. The purity level is extensively used in advancements and inventions of new drugs in fuel cell applications.
, the global sodium borohydride market is segmented into pulp & paper, pharmaceuticals, metal reduction, fuel cell, and others. The pulp & paper segment is expected to dominate the market during the forecast period due to the rising use of sodium borohydride in various pulp & paper applications as a bleaching agent.
, the market is classified as North America , Europe , Asia Pacific , Latin America , and Middle East & Africa . The market in Asia Pacific held a significant market share of the market in 2021 and is projected to expand at a significant CAGR during the forecast period, due to the rising adoption of sodium borohydride across industries in the region. The presence of a large pool of patients suffering from the polycystic ovarian syndrome, digestive issues, and lifestyle-related ailments boosts the demand for sodium borohydride supplements.
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