Hydrazine Hydrate Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market for Hydrazine Hydrate is expected to register a CAGR of over 4% during the forecast period. Major factors driving the market studied are increasing demand from polymerization and blowing agents and growing demand from the pharmaceutical sector. On the flip side, stringent regulations imposed on hydrazine hydrate owing to its carcinogenic & toxic nature and unfavorable conditions arising due to the COVID-19 outbreak are the major restraints that are expected to hinder the growth of the market.

Key Highlights

• The growing application of hydrazine hydrate in the agrochemical industry is expected to offer various lucrative opportunities for the growth of the market.
• By application, the polymerization and blowing agent segment is expected to dominate the market owing to the increase in the usage of plastic products.
• Asia-Pacific region dominated the market across the world with the largest consumption from countries, such as China, South Korea, and India.

Key Market Trends

Increasing Demand from Polymerization and Blowing Agents Segment

• Hydrazine hydrate is an inorganic compound which is highly reactive and unstable. It is a colorless compound having pungent smell.
• The growing demand of polymer products in various applications in end-user industries such as automobile, electronic gadgets and footwear industry is increasing the demand of hydrazine hydrate and propelling its market.
• Rising demand of polymer foams in polymer industry is driving the hydrazine hydrate market. Additionally, hydrazine hydrate is used in manufacturing of rubber and plastic chemicals.
• Derivatives of hydrazine hydrate namely, azobisisobutyronitrile and azodicarbonamide are used as polymerization initiators and low temperature blowing agents. Owing to this, there is surge in demand of hydrazine hydrate in polymer industry which is propelling the hydration hydrate market.
• The global polymer industry is expected to grow at a CAGR of over 5% during the forecast period which would increase the demand of hydrazine hydrate and stimulate its market during the forecast period.
• Owing to all the above-mentioned factors for hydrazine hydrate, its market is expected to grow rapidly over the forecast period.

Asia-Pacific to Dominate the Market

• Hydrazine hydrate is an inorganic compound which is highly reactive and unstable. It is a colorless compound having a pungent smell.
• The growing demand for polymer products in various applications in end-user industries, such as automobiles, electronic gadgets, and the footwear industry, is increasing the demand of hydrazine hydrate and propelling its market.
• The rising demand for polymer foams in the polymer industry is driving the hydrazine hydrate market. Additionally, hydrazine hydrate is used in the manufacturing of rubber and plastic chemicals.
• Derivatives of hydrazine hydrate, namely, azobisisobutyronitrile and azodicarbonamide, are used as polymerization initiators and low temperature blowing agents. Owing to this, there is a surge in demand for hydrazine hydrate in the polymer industry, which is propelling the hydration hydrate market.
• The global polymer industry is expected to register a CAGR of over 5% during the forecast period, which would increase the demand for hydrazine hydrate and stimulate its market during the forecast period.
• Owing to the above-mentioned factors, the market for hydrazine hydrate is expected to grow rapidly over the forecast period.

Competitive Landscape

The hydrazine hydrate market is fragmented, with top players accounting for a marginal share of the market. Major companies in the market include Arkema Group, LANXESS, Lonza, Otsuka-MGC Chemical Company Inc., and Weifang Yaxing Chemical Co. Ltd.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support