According to a recent market research report published by Transparency Market Research, the global hydrazine hydrate market is estimated to expand at a CAGR of 4.9% during the period between 2014 and 2022. The report, titled “Hydrazine Hydrate Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022,” anticipates the global hydrazine hydrate market to be worth US$536.3 mn by 2022. The overall market stood at a valuation of US$350.0 mn in 2013.
Chemically, hydrazine hydrate is an inorganic compound extensively used across various industries owing to its favorable chemical properties. The compound is colorless and has an odor similar to ammonia. Hydrazine hydrate is mostly manufactured through three production processes: the peroxide process, the Bayer-Ketazine process, and the Olin-Raschig process.
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The report states that the growing demand for hydrazine hydrate from the polymer industry will propel the growth of the global hydrazine hydrate market. Hydrazine hydrate is one of the primary blowing agents used in the polymer industry. The surging demand for the compound from the agrochemical industry will also fuel the growth of the market during the forecast horizon. However, growing concerns about the adverse impacts of hydrazine hydrate on human health and environment will play spoilsport in the growth of the market. The overall hydrazine hydrate market has a huge scope of growth with the rising trend of usage of hydrazine hydrate fuel cell as an alternative to hydrogen fuel cell.
On the basis of end-use industries, the report segments the global hydrazine hydrate market into polymerization and blowing agents, pharmaceuticals, agrochemicals, water treatment, and others. In 2013, the polymerization and blowing agents segment dominated the overall market and held over 35% of the market. The segment is anticipated to retain its lead in the market throughout the forecast period and register the fastest growth. With the rapid expansion of the agrochemical industry, rise in the production of intermediates used in fungicides and insecticides will boost the demand for hydrazine hydrate.
The report studies the growth of the global hydrazine hydrate market across five key regions: Asia Pacific, Europe, North America, the Middle East and Africa, and Latin America. Asia Pacific emerged as the largest market for hydrazine hydrate in 2013 and accounted for over 55% of the market. During the forecast horizon, Asia Pacific is expected to dominate the market due to growing demand from the regional polymer industry.
Describing the competitive landscape, the report profiles some of the key players in the global hydrazine hydrate market such as Arkema SA, Otsuka-MGC Chemical Company Inc., Lonza Group Ltd., Nippon Carbide Industries Co Inc., Weifang Yaxing Chemical Co Ltd., LANXESS, Japan FineChem Inc., Hunan Zhuzhou Chemical Industry Group Co. Ltd., Tanshang Chenhong Industrial Co Ltd., and Yibin Tianyuan Group Co. Ltd. The report further provides insightful information about the market players including their business strategies, company overview, financial overview, and recent developments.
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