In terms of value, the hydrazine hydrate market is estimated to grow from USD 222 million in 2021 to USD 308 million by 2027, at a CAGR of 5.8%. As the largely world’s population is increasing the universal direct on rising demand from the agrochemicals industry, the growing pharmaceuticals sector and demand for polymer foams are increasing. These factors have all impacted to the global development of the hydrazine hydrate market.
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Based on concentration level, the hydrazine hydrate market is segmented into 100%, 60%-85%, 40%-55%, and 24%-35%. The 60%-85% segment accounted for the largest market share, in terms of both value and volume, in 2021. 60%-85% concentration level is mostly used in manufacturing of veterinary drugs, chemical synthesis, and polymerization processes as initiator or blowing agent. Moreover, this concentration level is also used as a propellant in emergency power units (EPU) in single-engine aircraft and F16 fighter aircraft.
Based on application, the hydrazine hydrate are segmented into agrochemicals, water treatment, polymerization & blowing agents, pharmaceuticals, and others. Among them, the polymerization & blowing agents accounted for the largest market share, in both terms of value and volume, in 2021. Generally, the hydrazine hydrate is commonly used in the production of plastics and rubber chemicals. . It is utilized as a raw material for chemical blowing agents or foaming agents. Also, the derivatives of hydrazine hydrates, such as azodicarbonamide and azobis isobutyronitrile, are used as low-temperature blowing agents and polymerization initiators.
Based on region, Asia Pacific ruled the hydrazine hydrate market, in terms of both value and volume, in 2021. This is due to increasing demand in several sectors such as polymer, personal care, pharmaceuticals, and agrochemicals specifically in India and China. Likewise, in terms of value, the Asia Pacific is predicted to be the abrupt increasing market, during the forecast period 2022 to 2027.
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The key players profiled in the report include Arkema S.A. (France), LANXESS AG (Germany), Lonza Group AG (Switzerland), LGC Science Group Holdings Limited (UK), and Nippon Carbide Industries Co., Inc. (Japan). The requirement of hydrazine hydrate is raising due to the chances for the use of hydrazine hydrate in fuel cells is an opportunity for the key players. Likewise, to hit these opportunities key players should concentrate on new innovations and production of hydrazine hydrate.
