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Hydrazine Hydrate Market 2016 – 2024 forecasts on regional growth, industry players and more

Author : Ronak Bora | Published Date : 2019-05-08 

Agrochemicals is the second largest segment that will drive the hydrazine hydrate market growth. In 2015, it had revenue of more than USD 110 million and will have a steady growth throughout the forecast timeframe. Hydrazine Hydrate Market has gained a traction over the past few years with the increasing demand for inorganic- organic hybrid polymers across a wide spectrum of application domains. The industry’s growth curve is immensely influenced by the advancement of polymer science and technology. Polymer foams’ rising demand has played a pivotal role in accelerating the industry share. Owing to the fact that hydrazine hydrate act as a precursor in blowing agents that are used in polymer foams, the future growth prospect of the overall market is quite certain. Global polymer foam market which is slated to reach 3 million ton in terms of volume by 2024, will in turn leave a proportional impact on hydrazine hydrate market expansion over the coming years. According to Global Market Insights, Inc., “Global hydrazine hydrate industry is projected to collect a revenue of USD 547.6 million by the end of 2024, with an estimated CAGR of 4.9% over 2016-2024.”

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Asia Pacific accounted for the highest demand in 2015 with more than 35% of the global hydrazine hydrate market share. This domination is a result of the global shift of the application sector to this region due to strict regulations in North America and Europe. Also, increasing demand of the emerging nations such as China and India will catalyst the market growth in this region.

APAC will have the fastest growth in the forecast period and is anticipated to cross USD 300 million in 2024 with polymerization and blowing agents as the fastest growing segment with a CAGR of more than 5.5%. U.S. hydrazine hydrate market size is anticipated to reach a total revenue of close to USD 75 million in 2024.

In 2015, the global hydrazine hydrate market share was consolidated as key industry players accounted for more than half of the total market share. Some of the major industry contributors were Otsuka-MGC, Yibin Tianyuan, Arkema SA, Lonza Group, Weifang YAXING Chemical, and LANXESS. Some other companies in the global hydrazine hydrate industry include Tanshang Chen Hong, Japan Fine-Chem, Nippon Carbide, Hunan Zhuzhou Group, and others.

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In response to the surging global population and the increasing food demand curve, agrochemical sector is prominently driving the application landscape. The urgent need to increase the crop yield and improve food quality is in a way pushing the demand for agrochemicals. In 2015, overall agrochemical market accounted for a revenue of USD 70 billion and is estimated to grow significantly at an annual rate of 6 % over the coming seven years, significantly impacting the growth prospect of hydrazine hydrate industry as well. These inorganic polymers are in high demand in pesticides manufacturing units, as they are extensively used in making pyrazole and its related derivatives. Agrochemical sector majorly contributed toward the global share in 2015, by accounting for almost 30% of the total market. With Asia Pacific at the growth forefront, agrochemical applications are foreseen to boost overall hydrazine hydrate market share in the years ahead.

Pharmaceutical and water treatment sectors are the two other end-use industries that are gradually involving in the market nowadays. Extensive usage of hydrazine hydrates in the manufacturing of veterinary drugs and tuberculosis treatment is further boosting the penetration of hydrazine hydrate market in the pharmaceutical space.

Browse key industry insights from the report, “Hydrazine Hydrate Market” in detail along with the table of contents: https://www.gminsights.com/industry-analysis/hydrazine-hydrate-market

Global hydrazine hydrate industry is highly consolidated with leading market players accounting for almost half of the overall share. With a diversified application forum, this market is set to witness massive growth in future. Some of the prominent industry participants include Yibin Tianyuan, Lonza Group, Arkema SA, Otsuka-MGC, LANXESS, and Weifang YAXING Chemical.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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