Market Overview:
Hydrazine Hydrate is a highly reactive, inorganic chemical compound that is colorless and has a pungent smell. Owing to its high reactive property, the product is widely used in polymerization and pharmaceuticals. It is mainly used as a foaming agent in polymer foams and in the manufacturing of pyrazole and its derivatives in agrochemicals. Furthermore, it is also used to treat tuberculosis.
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Increasing demand for Hydrazine Hydrate and its derivatives in polymerization and blowing agents, and pharmaceuticals is expected to drive the global market growth. Growing demand for Hydrazine Hydrate in fertilizers and plastic products is further expected to drive the global market growth. There is an increasing demand for the product in agrochemicals to increase the crop yield and enhance the quality of agricultural products, which is favoring the market growth. Owing to its properties such as alkalinity, low-cost, and easy availability, hydrazine hydrate is considered as a favorable substitute for hydrogen and oxygen in fuel cell production, which provides lucrative opportunities to the market players. There is a growing demand for substitute chemicals such as Diethyl-hydroxylamine and 1-Amino-pyrrolizidine in water treatment which poses a major challenge to Hydrazine Hydrate Market players.
However, the carcinogenic nature of Hydrazine Hydrate is likely to hamper the market growth during the forecast period. The National Institute for Occupational Safety and Health (NIOSH), which provides safety and exposure guidelines for the Hydrazine Hydrate limit the use of this product globally.
Key Players:
Otsuka-MGC Chemical Company, Inc. (Japan), Japan Finechem Inc. (Japan), NIPPON CARBIDE INDUSTRIES CO., INC. (Japan), Arkema Group (France), LANXESS (Germany), Lonza (Switzerland), Weifang Yaxing Chemical Co., Ltd. (China), Hunan Zhuzhou Chemical Industry Group Co., Ltd. (China), Capot Chemical Co., Ltd. (China), Anbros Consultants And Engineers. (India), Arrow Fine Chemicals (India) are some of the key players in the Global Hydrazine Hydrate Market.
Segmentation Analysis:
The Global Hydrazine Hydrate Market has been segmented based on Concentration Level, Application, and Region.
On the basis of Concentration Level, the Global Hydrazine Hydrate Market has been categorized into 24%-35%, 40%-55%, 60%-85%, and 100%.
By Application, the Global Hydrazine Hydrate Market has been segregated into agrochemicals, pharmaceuticals, polymerization and blowing agents, water treatment, and others.
The Global Hydrazine Hydrate Market has been studied for five key regions - Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
Regional Analysis:
The Global Hydrazine Hydrate Market has been analyzed for five regions, namely Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
The Asia-Pacific market is projected to account for the largest share and is expected to be the fastest-growing due to the increasing consumer demand for Hydrazine Hydrate in agrochemicals and water treatment. China was the leading country in this region, in 2017, due to a large consumer base, increasing purchasing power, and growing demand for pesticides and insecticides. The European market held a significant market share in 2017 due to the presence of leading manufacturing companies, such as Arkema Group, LANXESS, and Lonza. Germany, France, and Switzerland are the major contributors to the regional market growth. The North American market is projected to grow at a healthy CAGR owing to the surging demand for the product in pharmaceuticals and polymerization and blowing agent segments. The US and Canada are the major countries attributing to the regional market growth. The Latin American market is expected to register moderate growth during the forecast period. The market for Middle East & Africa is projected to witness sluggish growth during the review period due to limited availability of raw materials.
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