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Press Release: Hydrazine Hydrate Market to reach around US$ 6, 30,013.6 Thousand by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Hydrazine hydrate is a highly reactive chemical compound that appears colorless with a pungent smell. It is widely used across polymerization and the pharmaceutical industry. It is used as a foaming agent across the polymer industry in the production of polymers. Moreover, its derivative is also used in the agrochemicals.
The global hydrazine hydrate market is estimated to account for US$ 4, 28,257.7 thousand in terms of value and 1, 40,956.7 Tons in terms of volume by the end of 2019.
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 yield production. Growing demand for food due to increasing populations around the globe is creating a need for high yield production. This is augmenting the demand for pesticides and fertilizers, which in turn fostering the market growth of the hydrazine hydrate.
Growing demand for the product from the water treatment industry is propelling the market growth of the hydrazine hydrate. It easily removes the contaminants and heavy metals from the water and also offer higher productivity and reliability in the water treatment. Growing demand for clean water due to limited availability of the water on earth is creating demand for hydrazine hydrate for treating wastewater and make it drinkable and reusable.
Figure 1. Global Hydrazine Hydrate Market Share (%) in terms of Value, By Region, in 2019
Asia Pacific region dominated the global hydrazine hydrate market in 2019, accounting for 56.1% share in terms of value.
Market Restraints
The toxic and carcinogenic nature of the hydrazine hydrate is expected to restrict its adoption across various industries. Thus, such 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 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: | 2019 | Market Size in 2019: | US$ 4,28,257.7 Thousand |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 4.8% | 2027 Value Projection: | US$ 6,30,013.6 Thousand |
| Geographies covered: |
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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., Weifang Yaxing Chemical Co., Ltd. |
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| Restraints & Challenges: |
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Market Opportunities
Increasing application of hydrazine hydrate in the fuel cell is expected to provide lucrative opportunities. Due to its low-cost, alkalinity, and easy availability properties makes it a favorable substitute of the oxygen and hydrogen in the fuel cells. Thus, growing application of the product from fuel cells which are further use across the vehicle such as motorcycle, buses, forklifts are expected to foster the market growth of the hydrazine hydrate over the forecast period.
Growth in the packaging industry is expected to provide enormous growth opportunities to the market in the near future. Rapidly growing construction industry around the globe due to urbanization and industrialization is expected to augment the market growth of the hydrazine hydrate. Hydrazine hydrate is used in the production of polymers which are further used in the manufacturing of advanced building materials.
Figure 2. Global Hydrazine Hydrate Market– Opportunity Analysis
Market Trends/Key Takeaways
Increasing use of hydrazine hydrate as a fuel in rockets for space missions is a growing trend in the market. Moreover, it is also used as a gas precursor in preparing airbags which is augmenting the market growth of the hydrazine hydrate. Moreover, rapid growth in the end-user industries coupled with the changing lifestyle of the consumer is again acting as a catalyst in the market growth of the hydrazine hydrate.
Growing consumption of hydrazine hydrate across the Asia Pacific region is a current trend in the market. Expanding agriculture industry is creating demand for agrochemical products which is further propelling the market growth of the hydrazine hydrate. Also, the Middle East region is witnessing strong demand for the product from the polymer industry on the account of the rapid growth of the various end-user industries.
Figure 3. Global Hydrazine hydrate Market Share (%) in terms of Value, By End-User, in 2019
On the basis of end-user in 2019, the polymerization and blowing agents segment has accounted the largest market share of 38.4% in terms of value, followed by agrochemicals and water treatment segment respectively.
Global Hydrazine Hydrate Market - Impact of Coronavirus (Covid-19) Pandemic
The demand for hydrazine hydrate market is expected to decline over the forecast period owing to dwindling in the demand for hydrazine form various end use industries such as agrochemical and pharmaceutical industries. On the other hand, post the pandemic period the demand for waste water treatment is expected to increase due to over use of water during the pandemic situation that will boost the growth of hydrazine hydrate market over the forecast period.
Competitive Section:
Company Names
Hydrazine hydrate is a highly reactive chemical compound that appears colorless with a pungent smell. It is widely used across polymerization and the pharmaceutical industry. It is used as a foaming agent across the polymer industry in the production of polymers. Moreover, its derivative is also used in the agrochemicals.
Market Dynamics
Growing application of hydrazine hydrate in the fuel cell is anticipated to offer profitable opportunities. Due to its low-cost and easy accessibility properties makes it a favorable substitute of the oxygen and hydrogen in the fuel cells. Thus, growing application of the product from fuel cells which are further use across the vehicle such as motorcycle, buses, forklifts are expected to foster the market growth of the hydrazine hydrate over the forecast period.
Increasing investment in R& D for developing an innovative product with enhanced properties and explore more properties of the hydrazine product is one of the growing trends in the market. Moreover, growing various initiatives by government as well as manufacturer for increasing production capacity of high-performance polymers in order to meet the rising demand from end-user applications is further anticipated to bolster the market growth of the hydrazine hydrate over the foreseeable timeframe.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
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