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Asia Pacific Hydrazine Hydrate Market Size 2024 To Showcase Significant Growth In The Agrochemical Industry

Author : Ronak Bora | Published Date : 2019-07-10 

Asia Pacific hydrazine hydrate market led the global market in 2015, covering almost 35% of the total volume. High hydrazine hydrates demand in polymer and agrochemical industries is catering the regional market growth. Heavy manufacturing and production base in India, China, and Southwest Asian countries is encouraging the regional market expansion.  With blowing agents and polymerization as the prime growing segments, APAC hydrazine hydrate market is slated to record highest growth rate in the next seven years, with a revenue projection of USD 300 million by 2024.Till late 90’s, the industry was mainly dominated by North American countries.  However, following the implementation of stringent regulatory norms by the government in regard to the minimal usage of the product, due to the associated health hazards, North America hydrazine hydrate industry had experienced a downfall pertaining to its growth rate.

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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.”

 

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 market 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.

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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.

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 Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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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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