The report “Hydrazine Hydrate Market by Concentration Level (24%-35%, 40%-55%, 60%-85%, and 100%), Application (Polymerization & Blowing Agents, Agrochemicals, Water Treatment, Pharmaceuticals), and Region – Global Forecast to 2022″, 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. The 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.
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Polymerization & blowing agents is estimated to be the largest application segment of the global hydrazine hydrate market between 2017 and 2022
Among various applications, polymerization & blowing agents is estimated to be the largest application of the global hydrazine hydrate market. In polymerization & blowing agents segment, hydrazine hydrate is used to manufacture plastics and rubber chemicals. Derivatives of hydrazine hydrates such as azobisisobutyronitrile and azodicarbonamide are used as polymerization initiators and low temperature blowing agents. In addition, there are several other hydrazine-based chemical blowing agents such as benzene and toluenesulfonylhydrazide, which are used in low temperature applications.
60%-85% segment is projected to be the fastest-growing concentration level segment in the global hydrazine hydrate market
The 60%-85% segment is projected to be the fastest-growing concentration level segment of the market between 2017 and 2022. The 60%-85% concentration level hydrazine hydrate is used as a propellant in emergency power units (EPU) on the F16 and other single engine aircraft. 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. The application of 60%-85% concentration grade of hydrazine hydrate in fuel cells as an effective substitute to hydrogen and oxygen is expected to present many opportunities to the hydrazine hydrate manufacturers.
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Rising demand for hydrazine hydrate in Asia Pacific contributes to the high growth of this market
In 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. In China and India, the demand for hydrazine hydrate is expected to increase due to the growing agrochemicals industry and rapid economic growth. The demand for fertilizers and pesticides in Asia Pacific is higher as compared to other regions such as North America, Latin America, and Europe. The main reason for this high demand is it being the most populous region in the world. The Asia Pacific region contributes for more than 60% of the global population, with China and India being the two of the most populous countries in the world. Hence, the increasing food demand from this region has led to the increased use of agrochemicals.
Key companies profiled in the global hydrazine hydrate market research report include Arkema, LANXESS, Lonza, Otsuka-MGC Chemical Company, Yaxing Chemical, Yibin Tianyuan Group, HPLA Group, and Hunan Zhuzhou Chemical Group.
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