Growing use of agrochemicals in farming for improving the crop yield & food quality will bolster hydrazine hydrate market size over the coming years. Furthermore, extensive use of hydrazine hydrate to manufacture pesticides as well as fungicides are expected to spur the industry growth. According to Global Market Insights, Inc., “Hydrazine hydrate market value is estimated to hit USD 547 million by 2024.” Global agrochemicals sector is expected to register substantial gains of 6% over the coming seven years, having attained a revenue of USD 70 billion in 2015. Hydrazine hydrate industry size in agrochemicals sector estimated at USD 110 million in 2015, will grow significantly over the coming timeframe.
Hydrazine hydrate is primarily used as a precursor to blowing agents in polymer foams, which are widely used across construction, furniture, automotive, and packaging sectors. Polymerization & blowing agents sector, which accounted for one-third of the global hydrazine market revenue in 2015, is expected to dominate the application landscape in the near future.
U.S Hydrazine Hydrate Market size, by end-user, 2015 & 2024 (USD ‘000)
Hydrazine hydrate also finds wide application in wastewater treatment chemicals and pharmaceuticals sectors. Booming wastewater treatment chemicals market is expected to contribute significantly towards hydrazine hydrate industry revenue over the next few years. Rapidly expanding pharmaceuticals sector will also accelerate the industry demand, with hydrazine as a precursor to many pharmaceuticals. It also finds application in tuberculosis treatment and foliar treatment of potatoes.
The inorganic compound also finds application in the production of many medicines used in veterinary applications for treating animals. Its extensive application across a wide product range such as food containers, vinyl sheets, structural foam wood grain furniture, and foamed core pipes will drive the industry size over the coming seven years.
Regional highlights related to hydrazine hydrate industry over 2016-2024 are detailed below:
Market players will try to increase their profits through product innovations, high R&D investments, and mergers & acquisitions. Key industry participants include Yibin Tianyuan Group Company Limited, Weifang Yaxing Chemical Company Limited, Lonza Group Limited, Otsuka-MGC Chemical Company Incorporation, LANXESS, Arkema SA, Nippon Carbide Industries Company Incorporation, Tanshang Chen Hong Industrial Company Limited, Hunan Zhuzhou Chemical Industry Group Company Ltd, and Japan Fine Chemical Incorporation.