Sodium Borohydride

Sodium Borohydride Market Outlook

The global Sodium Borohydride market is poised for significant growth, with an estimated value of approximately USD 550 million in 2023 and a projected compound annual growth rate (CAGR) of 6.5% from 2025 to 2035. This robust growth in the market can be attributed to several factors, including the increasing use of Sodium Borohydride in various applications such as pharmaceuticals, organic synthesis, and metal recovery. The rise in demand for efficient and eco-friendly reducing agents in chemical processes is further propelling market growth. Additionally, the expanding pharmaceutical industry, particularly in developing regions, is expected to boost the consumption of Sodium Borohydride. The ongoing innovations in chemical manufacturing processes also play a crucial role in enhancing the market’s dynamics.

Growth Factor of the Market

The growth of the Sodium Borohydride market is largely driven by its diverse applications across various industries, particularly in pharmaceuticals where it is employed as a reducing agent in the synthesis of medicinal compounds. As the global pharmaceutical market continues to expand, the demand for Sodium Borohydride is expected to rise correspondingly. Furthermore, the increasing relevance of environmental sustainability has prompted industries to shift towards greener chemical processes, further boosting the market for Sodium Borohydride, which is considered more environmentally friendly compared to other reducing agents. The growth in metal recovery operations, especially in developing economies, has also resulted in increased demand for Sodium Borohydride as it is utilized in the recovery of precious metals. Consumer trends towards electronic products and fuel-efficient technologies are opening new avenues for Sodium Borohydride applications, enhancing its market potential.

Key Highlights of the Market

• The Sodium Borohydride market is projected to reach USD 950 million by 2035.
• Pharmaceuticals and organic synthesis are the leading application segments driving demand.
• The powder form of Sodium Borohydride dominates the product type segment.
• North America is expected to account for the largest market share in the forecast period.
• The rise in eco-friendly reducing agents in chemical processes is enhancing the market growth.

By Product Type

Powder:

The powder form of Sodium Borohydride is the most commonly utilized product type, accounting for a significant share of the market due to its versatility and ease of use. This form is extensively used in pharmaceuticals, where it serves as a crucial reducing agent in various synthetic pathways. The powder form allows for better handling and mixing with other compounds, making it ideal for large-scale production processes. Its effectiveness in organic synthesis for reducing ketones, aldehydes, and imines adds to its popularity in the chemical industry. Furthermore, the ability to store and transport powdered Sodium Borohydride efficiently enhances its appeal in various applications, contributing to its dominance in the market.

Pellets:

Sodium Borohydride pellets offer an alternative to the powdered form, providing benefits in terms of handling and storage. The pellet form minimizes dust generation during usage, making it safer for operators while also improving accuracy in dosing applications. Pellets are particularly useful in certain industrial applications where controlled release and specific quantification are required. The resilience of pellets against moisture adds to their practicality, ensuring longer shelf life and stability during storage. As industries increasingly prioritize worker safety and operational efficiency, the demand for Sodium Borohydride pellets is on an upward trend, complementing the overall growth of the market.

Solution:

Sodium Borohydride in solution form is increasingly being utilized in various chemical processes, particularly in the pharmaceuticals and electronics sectors. This form is easier to handle and can be applied directly in reactions without the need for intermediate processing steps. The solution allows for more precise control over concentrations, making it an attractive option for laboratory applications and small-scale production. Additionally, its use in metal recovery processes, especially in precious metals extraction, is notable. The versatility and ease of application of Sodium Borohydride solutions contribute to their growing acceptance in various industries, further bolstering market growth.

Granules:

Granulated Sodium Borohydride is another product type that provides distinct advantages for specific applications, particularly in the industrial sector. The granule form boasts excellent flow characteristics, making it suitable for various bulk processes. This form is often preferred in large-scale applications where efficient feeding and mixing are necessary. Additionally, granules are less susceptible to moisture absorption compared to powders, enhancing their stability and storage capabilities. As industrial operations continue to scale up, the demand for granulated Sodium Borohydride is expected to rise, providing an appealing option for manufacturers seeking efficiency in their processes.

Tablets:

Tablet form Sodium Borohydride is particularly relevant in specialized applications where precise dosing is critical. This format allows for easy transport and handling, making it suitable for laboratory environments and specific industrial applications. Tablets are designed to dissolve in solvents, providing controlled release of the active ingredient in chemical reactions. Their compact size and convenience make them attractive for researchers and manufacturers alike who require accurate measurements without the complexities of powder handling. The niche applications and benefits associated with tablet forms of Sodium Borohydride will likely support their continued presence in the market.

By Application

Pharmaceuticals:

The pharmaceutical industry is one of the primary consumers of Sodium Borohydride, utilizing it as a reducing agent in the synthesis of various medicines and pharmacologically active compounds. Its ability to selectively reduce functional groups makes it invaluable in the development of complex molecules. With the ongoing advancements in drug development and the rise of biologics, Sodium Borohydride's role is expected to grow. The increasing demand for innovative therapies and formulations in the pharmaceutical sector is propelling the consumption of Sodium Borohydride, making it a crucial component in meeting future healthcare challenges.

Organic Synthesis:

Organic synthesis is another significant application area for Sodium Borohydride, where it is employed for the reduction of carbonyl compounds such as aldehydes and ketones. This application is vital in the production of various organic chemicals and intermediates, enhancing its importance in chemical manufacturing. The versatility of Sodium Borohydride allows for diverse applications, thus supporting its demand in synthetic organic chemistry. As the global demand for organic compounds continues to rise, particularly in specialty chemicals, the role of Sodium Borohydride in organic synthesis is anticipated to expand accordingly, ensuring sustained market growth.

Metal Recovery:

In the realm of metal recovery, Sodium Borohydride is recognized for its effectiveness in the extraction of precious metals such as gold and silver. Its application in hydrometallurgy, where it acts as a reducing agent, makes it vital for the recovery of these metals from ores or recycled materials. The growing focus on recycling and sustainability in the metal industry has spurred interest in Sodium Borohydride as an eco-friendly solution for metal recovery processes. The rising prices of precious metals further drive the demand for efficient recovery methods, positioning Sodium Borohydride as a strategic choice in this sector.

Fuel Cells:

Sodium Borohydride's role in fuel cell technology is gaining traction, especially as the world shifts towards cleaner energy solutions. It serves as a hydrogen carrier in fuel cells, providing a reliable source of hydrogen for clean energy production. The increasing emphasis on reducing carbon emissions and transitioning to renewable energy sources enhances the relevance of Sodium Borohydride in this application area. As governments and industries invest in sustainable energy technologies, the use of Sodium Borohydride in fuel cells is expected to become a significant driver of market growth, facilitating advancements in energy-efficient systems.

Pulp & Paper:

In the pulp and paper industry, Sodium Borohydride is utilized for bleaching applications and as a reducing agent in various chemical processes. Its efficacy in improving paper quality and brightness makes it an essential component in the production of high-quality paper products. As the demand for sustainable and high-performance paper products increases, the use of Sodium Borohydride in this industry is expected to grow. The increasing focus on eco-friendly practices and the reduction of harmful chemicals in the pulp and paper manufacturing process further support the market potential for Sodium Borohydride in this application.

By Distribution Channel

Direct Sales:

Direct sales channels are crucial in the Sodium Borohydride market, providing manufacturers with a way to reach customers directly, thus fostering strong business relationships. This approach allows for a more personalized service, ensuring that customer requirements are met effectively. Direct sales are particularly beneficial for large enterprises that require customized products or bulk quantities. Additionally, this channel enables manufacturers to garner valuable feedback from clients, helping them to tweak their products and services accordingly. As the demand for Sodium Borohydride increases, the direct sales model is expected to solidify its position in the market, enhancing customer satisfaction and loyalty.

Distributors:

Distributors play a pivotal role in the Sodium Borohydride market, acting as intermediaries between manufacturers and end-users. They typically have extensive networks and experience in handling chemical products, making them essential for ensuring product availability across various regions. The use of distributors allows manufacturers to focus on production while leveraging the distributors' knowledge of market trends and customer preferences. Furthermore, distributors are vital for reaching small and medium enterprises that may not engage in direct procurement from manufacturers. This segment is expected to continue expanding as demand for Sodium Borohydride grows, ensuring broader market penetration.

Online Retail:

Online retail has emerged as a significant distribution channel for Sodium Borohydride, especially in recent years, owing to the increasing trend towards e-commerce. This channel provides customers with convenience and easy access to a wide range of Sodium Borohydride products. The ability to compare prices and products online enhances customer decision-making, making it an attractive option for many. Additionally, online platforms can reach global markets more effectively, allowing consumers from different regions to access Sodium Borohydride products without geographical limitations. As e-commerce continues to evolve, the online retail channel is likely to play an increasingly significant role in the Sodium Borohydride market.

By Ingredient Type

Purified Sodium Borohydride:

Purified Sodium Borohydride is a high-quality form used predominantly in sensitive applications, particularly within the pharmaceutical and electronics industries. This grade undergoes extensive purification processes to ensure it meets stringent quality standards required for critical applications. The increasing demand for pharmaceuticals and electronic components that require high purity chemicals drives the market for purified Sodium Borohydride. Furthermore, as industries continue to prioritize quality and reliability, the demand for purified forms of chemicals is expected to grow, ensuring a favorable outlook for this segment.

Technical Grade Sodium Borohydride:

Technical grade Sodium Borohydride finds its applications primarily in industrial processes, where the highest purity levels may not be a critical concern. It is utilized in a variety of applications, including organic synthesis and metal recovery. This grade offers a cost-effective solution for manufacturers looking to optimize their production processes without compromising functionality. The increasing industrial activities and focus on cost-efficiency contribute to the steady demand for technical grade Sodium Borohydride in various sectors, supporting the overall market growth.

Electronic Grade Sodium Borohydride:

Electronic grade Sodium Borohydride is specifically tailored for applications in the electronics industry, where purity and performance are paramount. This grade is used in the production of semiconductors and in the manufacturing of various electronic components. The rapid advancements in technology and the increasing demand for electronic products significantly enhance the market potential for electronic grade Sodium Borohydride. As the electronics sector continues to evolve with innovations, the demand for high-quality materials, including electronic grade Sodium Borohydride, is expected to rise, ensuring a positive trajectory for this market segment.

Pharmaceutical Grade Sodium Borohydride:

Pharmaceutical grade Sodium Borohydride is essential in drug development and formulation processes, where compliance with strict regulatory standards is mandatory. This grade ensures the highest levels of purity and quality, making it indispensable in producing safe and effective medicinal products. The growing pharmaceutical sector, driven by innovations and increasing healthcare demands, significantly fuels the consumption of pharmaceutical grade Sodium Borohydride. Additionally, the emphasis on safety and efficacy in drug formulation further supports the expanding market for this grade, ensuring that it remains a critical component in the pharmaceutical industry.

Industrial Grade Sodium Borohydride:

Industrial grade Sodium Borohydride is utilized across various industrial applications, including metal recovery, organic synthesis, and as a reducing agent in other chemical processes. This grade typically meets the basic quality requirements for industrial use, providing a more cost-effective option compared to higher-grade materials. The growing industrial sector, particularly in developing regions, is expected to drive the demand for industrial grade Sodium Borohydride as manufacturers seek efficient and economical solutions for their operational needs. As industries continue to expand, this segment is poised for growth, contributing to the overall market dynamics.

By Region

The Sodium Borohydride market is experiencing substantial growth across various regions, with North America holding the largest share of the market. In 2023, North America accounted for over 40% of the global market, driven by the strong pharmaceutical and chemical manufacturing sectors. The region's advanced research and development capabilities and the presence of key market players further bolster its market dominance. Additionally, the increasing focus on sustainable and eco-friendly processes in chemical manufacturing is likely to sustain North America's growth trajectory, with a projected CAGR of 7.0% from 2025 to 2035.

Europe follows closely, capturing approximately 30% of the global market share in 2023. The region's stringent regulations regarding chemical quality and safety ensure that Sodium Borohydride is extensively utilized in pharmaceuticals and electronics. The growing emphasis on green chemistry and the push towards innovative drug development are expected to enhance the market's growth in Europe. Meanwhile, the Asia Pacific region, with its booming industrial and pharmaceutical sectors, is anticipated to exhibit the highest growth rate, driven by increasing investments in chemical manufacturing and research initiatives.

Opportunities

The Sodium Borohydride market is laden with opportunities, particularly in the context of advancements in green chemistry. As industries worldwide seek sustainable and environmentally friendly alternatives in their processes, Sodium Borohydride presents a viable option due to its effectiveness as a reducing agent with relatively low environmental impact. The continued investment in research and development, particularly in pharmaceuticals and chemical manufacturing, opens avenues for innovative applications of Sodium Borohydride. Moreover, as governments enforce stricter regulations regarding chemical usage and waste management, the demand for eco-friendly chemical solutions, including Sodium Borohydride, is expected to rise significantly. This trend not only supports market growth but also positions Sodium Borohydride as a strategic component in achieving sustainability goals.

Furthermore, the expansion of the pharmaceutical and biotechnology sectors, especially in emerging economies, provides a fertile ground for Sodium Borohydride applications. The growing need for effective and safe reducing agents in drug synthesis paves the way for increased demand for this chemical. In addition, as the global focus shifts towards renewable energy technologies, the role of Sodium Borohydride as a hydrogen carrier in fuel cells presents exciting prospects. The alignment of market demands with Sodium Borohydride's capabilities opens up numerous growth avenues, establishing its significance in a rapidly evolving industrial landscape.

Threats

Despite the promising growth prospects, the Sodium Borohydride market faces several threats that could impede its progress. One of the significant threats is the volatility in raw material prices, which can affect the cost of production and, consequently, the pricing strategies of manufacturers. Fluctuations in the availability and costs of raw materials can lead to increased operational costs, making it challenging for companies to maintain competitive pricing. Additionally, the emergence of alternative reducing agents that boast lower environmental impacts could potentially divert demand away from Sodium Borohydride. Manufacturers must remain vigilant and innovative to adapt to changing market dynamics and consumer preferences, ensuring the continued relevance of Sodium Borohydride in various applications.

Another concern is the stringent regulations imposed by governments regarding chemical safety and environmental impacts. While these regulations aim to ensure safety and sustainability, they can also impose additional compliance costs on manufacturers. Companies may need to invest significantly in quality control processes and certification to meet these regulatory standards, which could impact their profit margins. Navigating the complex landscape of chemical regulations requires continuous investment in compliance measures, which can strain resources, especially for smaller manufacturers. This regulatory environment creates a challenging landscape that stakeholders must navigate to ensure sustained growth in the Sodium Borohydride market.

Competitor Outlook

• Hawkins, Inc.
• Ferro Corporation
• Alfa Aesar
• Jiangshan Chemical Co., Ltd.
• Hubei Dazhong Chemical Co., Ltd.
• Gulbrandsen Technologies Inc.
• Gujarat Alkalies and Chemicals Limited
• Jiangxi Zhongjing Chemical Co., Ltd.
• Hubei Dazhong Chemical Co., Ltd.
• American Elements
• Solvay S.A.
• Lanxess AG
• Tianjin Jinhai Chemical Co., Ltd.
• Kojin Chemical Co., Ltd.
• Thermo Fisher Scientific Inc.

The competitive landscape of the Sodium Borohydride market is characterized by a mix of established players and new entrants, all vying for a share of this growing market. Key players such as Hawkins, Inc., and Ferro Corporation dominate the industry, leveraging their extensive experience and wide-ranging distribution networks. These companies are continually investing in research and development to create innovative solutions and improve the efficiency of Sodium Borohydride applications. Moreover, partnerships and collaborations are becoming increasingly prevalent among market participants, enabling them to enhance their product offerings and expand their geographical reach. This competitive environment fosters innovation and ensures that customers benefit from a diverse array of choices, further driving market growth.

Additionally, companies like Alfa Aesar and Jiangshan Chemical Co., Ltd. are focusing on expanding their production capacities to meet the increasing demand for Sodium Borohydride. These players are also investing in sustainable manufacturing processes to align with global trends towards environmental sustainability. The emphasis on product quality and compliance with regulatory standards is a key differentiator in this market. Companies that can demonstrate superior quality and reliability will likely capture a larger market share. The competitive landscape is expected to remain dynamic, with companies seeking strategic initiatives to enhance their market position.

In summary, the Sodium Borohydride market is characterized by a robust competitive landscape with key players like Hawkins, Inc., and Ferro Corporation leading the charge. The market's growth is driven by increasing demand across various applications, including pharmaceuticals, organic synthesis, and metal recovery. As players adapt to evolving market conditions and consumer needs, the focus on innovation, sustainability, and compliance will shape the competitive dynamics of this market. Companies that remain agile and proactive in their strategies will be well-positioned to capitalize on the growth opportunities present in the Sodium Borohydride market.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 Alfa Aesar
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Lanxess AG
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Solvay S.A.
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Hawkins, Inc.
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 American Elements
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Ferro Corporation
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Kojin Chemical Co., Ltd.
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Jiangshan Chemical Co., Ltd.
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 Gulbrandsen Technologies Inc.
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Thermo Fisher Scientific Inc.
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Hubei Dazhong Chemical Co., Ltd.
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Tianjin Jinhai Chemical Co., Ltd.
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Jiangxi Zhongjing Chemical Co., Ltd.
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Gujarat Alkalies and Chemicals Limited
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Sodium Borohydride Market, By Application
    • 6.1.1 Pharmaceuticals
    • 6.1.2 Organic Synthesis
    • 6.1.3 Metal Recovery
    • 6.1.4 Fuel Cells
    • 6.1.5 Pulp & Paper
  • 6.2 Sodium Borohydride Market, By Product Type
    • 6.2.1 Powder
    • 6.2.2 Pellets
    • 6.2.3 Solution
    • 6.2.4 Granules
    • 6.2.5 Tablets
  • 6.3 Sodium Borohydride Market, By Ingredient Type
    • 6.3.1 Purified Sodium Borohydride
    • 6.3.2 Technical Grade Sodium Borohydride
    • 6.3.3 Electronic Grade Sodium Borohydride
    • 6.3.4 Pharmaceutical Grade Sodium Borohydride
    • 6.3.5 Industrial Grade Sodium Borohydride
  • 6.4 Sodium Borohydride Market, By Distribution Channel
    • 6.4.1 Direct Sales
    • 6.4.2 Distributors
    • 6.4.3 Online Retail

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Sodium Borohydride Market by Region
  • 10.6 Middle East & Africa - Market Analysis
    • 10.6.1 By Country
      • 10.6.1.1 Middle East
      • 10.6.1.2 Africa

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Sodium Borohydride market is categorized based on

By Product Type

• Powder
• Pellets
• Solution
• Granules
• Tablets

By Application

• Pharmaceuticals
• Organic Synthesis
• Metal Recovery
• Fuel Cells
• Pulp & Paper

By Distribution Channel

• Direct Sales
• Distributors
• Online Retail

By Ingredient Type

• Purified Sodium Borohydride
• Technical Grade Sodium Borohydride
• Electronic Grade Sodium Borohydride
• Pharmaceutical Grade Sodium Borohydride
• Industrial Grade Sodium Borohydride

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Hawkins, Inc.
• Ferro Corporation
• Alfa Aesar
• Jiangshan Chemical Co., Ltd.
• Hubei Dazhong Chemical Co., Ltd.
• Gulbrandsen Technologies Inc.
• Gujarat Alkalies and Chemicals Limited
• Jiangxi Zhongjing Chemical Co., Ltd.
• Hubei Dazhong Chemical Co., Ltd.
• American Elements
• Solvay S.A.
• Lanxess AG
• Tianjin Jinhai Chemical Co., Ltd.
• Kojin Chemical Co., Ltd.
• Thermo Fisher Scientific Inc.