The global hydrazine hydrate market, which was valued at USD 495.4 million in 2021, is projected to witness a steady growth rate of 5.3% during the forecast period. Hydrazine hydrate, primarily used in water treatment and polymerization applications, is experiencing increased demand due to its versatile properties and wide-ranging applications.
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Hydrazine hydrate, in its anhydrous form, is a potent reducer with a strong odor and is used in various industries. It finds application as a foaming agent in the production of plastic and polymer foams, including azodicarbonamide. Additionally, it is used in the aerospace industry as rocket fuel and in spacecraft to control dissolved oxygen concentration. The chemical also plays a significant role in water pH control in industrial boilers.
However, the global hydrazine hydrate market faces challenges due to the toxic nature of hydrazine. Strict regulations and safety measures imposed by organizations such as the National Institute for Occupational Safety and Health (NIOSH) and the Occupational Safety and Health Administration (OSHA) restrict its usage, posing a hindrance to market growth.
Despite the challenges, the market is expected to grow due to the increasing demand for agrochemicals and the rising need for polymer foams in the polymer sector. The growing global population and shrinking agricultural land are driving the demand for agrochemicals, where hydrazine hydrate plays a crucial role. Additionally, the use of hydrazine hydrate in various industry verticals, such as chemical synthesis, corrosion inhibition, and wastewater treatment, is contributing to market expansion.
Key players in the hydrazine hydrate market include Arkema, LANXESS, Lonza, Otsuka-MGC Chemical Company, Yaxing Chemical, Yibin Tianyuan Group, HPLA Group, and Hunan Zhuzhou Chemical Group.
As the market continues to evolve, manufacturers and industry participants are focusing on innovation and developing safer alternatives to hydrazine hydrate. The market is poised for growth, driven by technological advancements and the increasing demand from various end-use industries.
The global Hydrazine Hydrate Market was valued at USD 395.7 Million in 2016 and is projected to reach USD 531.1 Million by 2022, at a CAGR of 5.5% from 2017 to 2022.BrowseĀ 147 Market Data Tables andĀ 36 Figures spread throughĀ 159Ā Pages and in-depth TOC onĀ "Hydrazine Hydrate Marketā.Request Report Sample @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=172748863The market is driven by the increased demand for hydrazine hydrate from various applications, such as polymerization & blowing agents, agrochemicals, water treatment, and pharmaceuticals.
The increasing use of hydrazine hydrate and its derivatives as foaming agents in the plastic industry also acts as a major factor driving the global hydrazine hydrate market.Hydrazine hydrate is a highly reactive, powerful, colourless, and highly explosive unstable inorganic chemical compound.
With growing demand for polymer products in various applications in automobile, electronic gadgets, and footwear industries, the demand for hydrazine hydrate in the polymers & blowing agents segment is likely to increase significantly in the coming years.Based on concentration level, the 60%-85% segment is projected to grow at the highest CAGR between 2017 and 2022.
The 60%-85% concentration level hydrazine hydrate is majorly used in chemical synthesis, manufacturing of veterinary drugs, polymerization process initiation, or as a blowing agent.
It is expected to be the fastest-growing concentration level segment of the hydrazine hydrate market, in terms of value, during the forecast period due to its ability to manufacture hydrazine salts from inorganic acids.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=172748863Rising demand for hydrazine hydrate in Asia Pacific contributes to the high growth of this marketIn 2016, Asia Pacific accounted for the largest share of the global hydrazine hydrate market, and is expected to grow at the highest CAGR between 2017 and 2022.
Currently, China is the largest market for hydrazine hydrate in Asia Pacific, and is expected to continue to lead till 2022.
