Global Hydrazine Hydrate Market Size, Trends, By Concentration Level (24%-35%, 40%-55%, 60%-85%, 100%), By Type (Raschig Process, Bayer Ketazine process, Urea Process), By Application (Polymerization & Blowing Agents, Agrochemicals, Water Treatment, Pharmaceuticals, Other Applications), By Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa): Growth Opportunity Analysis and Industry Forecast, 2023-2030.
Global Hydrazine Hydrate Market
The Global Hydrazine Hydrate Market was valued at USD 0.82 billion in 2022 and is expected to expand to USD 1.19 billion by 2030, at a CAGR of % during the forecast period 2023-2030.
Hydrazine hydrate is an inorganic combination with a chemical formula named “N₂H₄.” It is a simple pnictogen hydride and is a colourless flammable liquid with an ammonia-like odour. Hydrazine is very toxic unless handled in solution.
Market Drivers
The increase in the expansion of the pharmaceutical industry across the globe, demand for polymer foams in the polymer industry, and the increasing application of hydrazine hydrate in the agrochemical industry are the important factors driving the global hydrazine hydrate market.
Furthermore, major factors boosting the hydrazine hydrate market are the rising demand for polymerization, blowing agents, and increasing demand from the pharmaceutical sector.
Market Restraints
Product substitutes or demand for alternative products in the market along with increasing carcinogenic & toxicity properties can hinder the growth of the hydrazine hydrate market in the forecast period 2030. Ecological challenges will also restrain the market.
Market Segmentation
The global hydrazine hydrate market is segmented into concentration level (24%-35%, 40%-55%, 60%-85%, 100%), type (raschig process, bayer ketazine process, urea process), and application (polymerization & blowing agents, agrochemicals, water treatment, pharmaceuticals, other applications).
COVID-19 Impact
COVID-19 had severely impacted the global economy with severe effects on global economic trade, which simultaneously affected businesses, households, industrial establishments, financial institutions, and infrastructure firms. Lockdown regulations & restrictions on international trade on various operations of the chemicals industry are predicted to limit short-term demand in the market.
Regional Analysis
The global hydrazine hydrate market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The North American region is expected to dominate the global hydrazine hydrate market and is expected to hold the largest growth rate owing to the increasing applications from the pharmaceutical industry.
The Asia-Pacific region dominates the global market with the largest consumption from countries such as China, India, and South Korea.
Key Players
Various key players are discussed in the global hydrazine hydrate market report including; Arkema, Lonza, LANXESS, HPLA Group, Otsuka Chemical Co., Ltd., Weifang Yaxing Chemical Co., Ltd., HUNAN ZHUZHOU CHEMICAL INDUSTRY GROUP, XIANGYU REFINING CHEMICAL CO., LTD., Anbros Consultants and Engineers, Capot Chemical Co. Ltd., NIPPON CARBIDE INDUSTRIES CO. INC., and Others.
For instance, in November 2022, Matrix Fine Chemicals entered into an agreement with a global logistics provider. With this acquisition, the company used a new warehouse in southern Germany to store non-hazardous & hazardous materials.
Market Taxonomy
By Concentration Level
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