Hydrazine hydrate is a highly reactive chemical compound that appears colorless with a pungent smell. It is widely used in polymerization and across the pharmaceutical industry. It is used as a foaming agent across the polymer industry in the production of polymers. Moreover, its derivative is used in agrochemicals.
Global hydrazine hydrate market was valued at US$ 478.18 Million in 2021 in terms of revenue, exhibiting a CAGR of 6.18 % during the forecast period (2022 to 2030).
Drivers
Increasing demand for hydrazine hydrate from the agrochemical industry is augmenting the market growth. Hydrazine hydrate is widely used in the manufacturing of hydrogels, pesticides, and plant growth regulators which are further used in improving the production yield. Growing demand for food due to increasing population around the globe is creating a need for high production yield. This is augmenting the demand for pesticides and fertilizers, which in turn is fostering the market growth for hydrazine hydrate.
Growing demand from the water treatment industry is also propelling the hydrazine hydrate market growth. It easily removes the contaminants and heavy metals from water and offers higher productivity and reliability in water treatment. Growing demand for clean water due to the reduced availability of water on the earth is creating demand for hydrazine hydrate for treating wastewater and making it drinkable and reusable.
The COVID-19 pandemic has moderately affected the hydrazine hydrate market, with demand for polymers and blowing agents slumping on a global scale. Also, restrictions on international trade and lockdown regulations on the operations of the chemicals industry is projected to limit short-term demand in the market.
Figure 1. Global Hydrazine Hydrate Market Value Share (%), By Region, 2021
Market Restraints
The toxic and carcinogenic nature of hydrazine hydrate is expected to restrict its adoption across various industries. Thus, health risk associated with hydrazine hydrate is expected to hinder the market growth over the forecast period. The increasing availability of the substitute of hydrazine hydrate for water treatment applications is further hindering the market growth. Diethyl-hydroxylamine and 1-Amino-pyrrolizidine are major substitutes that are gaining traction in the water treatment industry.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 478.18 Mn |
| Historical Data for: | 2017-2020 | Estimated Year: | 2022 |
| Forecast Period 2022 to 2030 CAGR: | 6.18% | Forecast Period: | 2022-2030 |
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| Companies covered: |
Otsuka- MGC Chemical Company, Inc., Arkema SA, Lonza Group Ltd., Nippon Carbide Industries Co. Inc., Tanshang Chen Hong Industrial Co., Ltd., LANXESS, Japan FineChem Co., Inc., Hunan Zhuzhou Chemical Industry Group Co. Ltd., Yibin Tianyuan Group Co., Ltd., and Weifang Yaxing Chemical Co., Ltd. |
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Market Trends
The increasing use of hydrazine hydrate as a fuel in rockets for space missions is a growing trend in the market. Moreover, it is used as a gas precursor in preparing airbags which is augmenting the hydrazine hydrate market growth. Rapid growth in the end-use industries coupled with changing lifestyles of consumers is also acting as a catalyst in the hydrazine hydrate market growth.
Figure 2. Global Hydrazine Hydrate Market Value Share (%), By End User, 2021
On the basis of end user, in 2021, the polymerization & blowing agents segment has accounted the largest market share of 38.4% in terms of value, followed by agrochemicals and water treatment segments.
Recent Developments
Competitive Section
Major players operating in the global hydrazine hydrate market include Otsuka- MGC Chemical Company, Inc., Arkema SA, Lonza Group Ltd., Nippon Carbide Industries Co. Inc., Tanshang Chen Hong Industrial Co., Ltd., LANXESS, Japan FineChem Co., Inc., Hunan Zhuzhou Chemical Industry Group Co. Ltd., Yibin Tianyuan Group Co., Ltd., and Weifang Yaxing Chemical Co., Ltd.
Hydrazine hydrate is highly soluble in water and can reduce itself to form nitrogen and water. Moreover, it protects the boiler tubes from corrosion by reacting with soft haematite layers to form a hard magnetic layer. Hence, it is an important component in boiler water treatment that is aiding the market growth. In addition, it is also used in high pressure and high purity system where it can directly react with dissolved oxygen to increase the temperature and pH. Furthermore, hydrazine hydrate is volatile in nature; hence it leaves no residue in water. It is also used as an alternative for sulphides as an oxygen scavenger in water.
Market Dynamics
In terms of regions, Asia-Pacific is expected to account for the largest share of the market during the forecast period, with increasing demand for hydrazine hydrate in the polymer and agrochemical industries, with China and India being the major countries driving the regional market's growth. North America and Europe are also expected to offer substantial growth opportunities over the forecast period.
Based on the end-user type, the market is segmented as water treatment, pharmaceuticals, agrochemicals, polymerization & blowing agents, and others. The polymerization & blowing agents segment is estimated to be the largest segment of the market on account of the rising demand for polymer products in various applications such as automobile and electronic gadgets. In addition, the agrochemicals segment is also estimated to witness significant growth in the market owing to rising global population and their nutritional requirements, fueling the overall industry growth during the forecast period.
The need for polymer goods in various applications in end-use industries is growing. Automobiles, electrical devices, and footwear are boosting the market growth. Growing demand from the pharmaceutical sector is expected to be a crucial market growth driver. Colorless hydrazine hydrate is used in many clinical drugs and other pharmaceutics products. Increasing demand and investment from pharmaceutical industry will contribute to high revenue rates.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section
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