Hydrazine Hydrate Market, By End User (Water Treatment, Pharmaceutical, Agrochemicals, Polymerization & Blowing Agents, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Hydrazine hydrate is highly soluble in water and can reduce itself to form nitrogen and water. Moreover, it protects the boiler tubes from corrosion by reacting with soft haematite layers to form a hard magnetic layer. Hence, it is an important component in boiler water treatment that is aiding the market growth. In addition, it is also used in high pressure and high purity system where it can directly react with dissolved oxygen to increase the temperature and pH. Furthermore, hydrazine hydrate is volatile in nature; hence it leaves no residue in water. It is also used as an alternative for sulphides as an oxygen scavenger in water.
Market Dynamics
In terms of regions, Asia-Pacific is expected to account for the largest share of the market during the forecast period, with increasing demand for hydrazine hydrate in the polymer and agrochemical industries, with China and India being the major countries driving the regional market's growth. North America and Europe are also expected to offer substantial growth opportunities over the forecast period.
Based on the end-user type, the market is segmented as water treatment, pharmaceuticals, agrochemicals, polymerization & blowing agents, and others. The polymerization & blowing agents segment is estimated to be the largest segment of the market on account of the rising demand for polymer products in various applications such as automobile and electronic gadgets. In addition, the agrochemicals segment is also estimated to witness significant growth in the market owing to rising global population and their nutritional requirements, fueling the overall industry growth during the forecast period.
The need for polymer goods in various applications in end-use industries is growing. Automobiles, electrical devices, and footwear are boosting the market growth. Growing demand from the pharmaceutical sector is expected to be a crucial market growth driver. Colorless hydrazine hydrate is used in many clinical drugs and other pharmaceutics products. Increasing demand and investment from pharmaceutical industry will contribute to high revenue rates.
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