The global hydrazine hydrate market is dominated by companies such as Lonza Group Ltd., Otsuka-MGC Chemical Company Inc., Nippon Carbide Industries Co. Inc., Japan FineChem Inc., Tanshang Chenhong Industrial Co. Ltd., Arkema SA, Weifang Yaxing Chemical Co. Ltd., Yibin Tianyuan Group Co. Ltd., Hunan Zhuzhou Chemical Industry Group Co. Ltd., and LANXESS.
According to Transparency Market Research, the global hydrazine hydrate market had a valuation of US$350 mn in 2013. Exhibiting a robust 4.9% CAGR from 2014 to 2022, the hydrazine hydrate market is expected to rise to a valuation of US$536.3 mn.
Asia Pacific to Remain Leading Regional Market for Hydrazine Hydrate
By end use, the global hydrazine hydrate market is segmented into water treatment, polymerization and blowing agents, agrochemicals, and pharmaceuticals. Of these, polymerization and blowing agents led the demand for hydrazine hydrate in 2013 and is likely to remain the leading contributor in the coming years. The polymerization and blowing agents segment’s market share of more than 35% in 2013 is likely to be extended over the forecast period thanks to its strong expected CAGR of 4.3% between 2014 and 2022.
Regionally, Asia Pacific was the leading contributor to the global hydrazine hydrate market in 2013, accounting for a majority share of more than 55%. The dominance of Asia Pacific in the hydrazine hydrate market is likely to continue unabated over the coming years, aided notably by the rising manufacturing volume of hydrazine hydrate in China.
Along with Asia Pacific, other emerging regions such as Latin America and the Middle East are also likely to be vital to the global hydrazine hydrate market’s growth in the coming years. “The rising demand for agrochemicals, as these regions start to adopt modern agriculture practices, is likely to remain a key driver for the hydrazine hydrate market in these regions in the coming years,” explained TMR’s lead analyst.
Booming Polymer Industry to Ensure Steady Growth of Hydrazine Hydrate Market
One of the key drivers for the global hydrazine hydrate market is the steady rise in demand for polymers. Polymerization has become a vital tool in several industries due to the numerous advantages polymers provide over monomers. This is likely to remain a key driver for the global hydrazine hydrate market, as the physical characteristics of advanced polymers are leading to wider adoption, which will indirectly drive the demand for hydrazine hydrate. The increasing demand for polymer foams, in particular, is likely to have an influential impact on the development trajectory of the hydrazine hydrate market in the coming years.
The increasing use of agrochemicals is also likely to be a key driver for the global hydrazine hydrate market in the coming years. Due to the rising demands being placed on agriculture, the demand for solutions to increase the overall crop output is growing. This has led to a rising use of hydrazine hydrate in the manufacture of agrochemicals.
High Toxicity of Hydrazine Hydrate Likely to Restrain Demand
Despite the rising demand in multiple industries, the global hydrazine hydrate market is likely to be constrained by the environmental unviability of hydrazine hydrate. It is a toxic compound and consequently has an adverse effect on the ecosystem in the area where it is dumped. Hydrazine hydrate is also a carcinogen, which has led to several governments placing severe restrictions on its usage for the sake of the health of both workers and consumers.
The global hydrazine hydrate market could receive a promising boost if the technology to replace hydrogen in hydrogen fuel cells with hydrazine hydrate is successfully developed. While the field has shown early promise, significant progress is required for commercialization.
The information in this preview comes from a Transparency Market Research report titled ‘Hydrazine Hydrate Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022.’
The global hydrazine hydrate market is segmented as follows:
Hydrazine Hydrate Market: End-use Analysis
- Water treatment
- Polymerization and blowing agents
- Others (Including metal purification, etc.)
Hydrazine Hydrate Market: Geographical Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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