New York, June 27, 2023 (GLOBE NEWSWIRE) -- The global hydrazine hydrate market size reached USD 551 Million in 2022. Looking forward, Market.us expects the market to reach USD 878 Million in 2032, exhibiting a growth rate (CAGR) of 4.9% during 2023-2032.
Hydrazine hydrate (N2H4·H2O) is a well-known colorless liquid that consists of hydrazine (N2H4) molecules combined with water (H2O) molecules. It is highly soluble in water, highly reactive, versatile, and has a pungent odor.
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Key Takeaway:
- By Concentration Level, the 60-85% segment accounted for the largest revenue share in 2022.
- By Application, the polymerization and blowing agent segment dominated the global hydrazine hydrate market in 2022.
- In 2022, Asia Pacific dominated the market with the highest revenue share of 54%.
- North America will witness a significant growth rate during the forecast period from 2023-2032.
It exhibits both basic and acidic properties as well as acts as a reducing agent. The global hydrazine hydrate market growth is fueled by rising water treatment activities to purify water for industrial and domestic use.
Factors affecting the growth of the global hydrazine hydrate market
There are several factors that can affect the growth of the global hydrazine hydrate market. Some of these factors include:
- Emerging Economies and Industrialization: The market growth for hydrazine hydrate is mainly influenced by industrial growth and increasing investments in emerging economies, particularly in Asia-Pacific.
- Technological Advancements and Innovations: Market expansion can be positively impacted by technological advancements, such as safer handling practices and improved production methods.
- Growing Power Generation Industry: The demand for hydrazine hydrate in the power generation sector is anticipated to witness significant growth as it is used as an oxygen scavenger in power plants for the prevention of corrosion in boiler systems.
- Handling and Storage Challenges: The hydrazine hydrate market growth is likely expected to be hampered by the handling and storage challenges as it requires to be stored carefully owing to its hazardous nature. Ensuring the proper storage conditions, adequate handling procedures, and transportation safety can be challenging for businesses.
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Top Trends in Global Hydrazine Hydrate Market
The focus on cost optimization and efficiency is expected to drive innovation in hydrazine hydrate production techniques and supply chain management. Moreover, as pollution and water scarcity remain to be major global challenges, there is an increase in demand for advanced water treatment technologies. The development of more efficient and innovative water treatment solutions can impact the hydrazine hydrate market, mainly in the context of oxygen scavenging applications. Thus, the manufacturers may face the need to adaption to emerging technologies or diversify their product offerings to remain in competition in this progressing landscape.
Market Growth
The global hydrazine hydrate market has experienced noteworthy growth in the past few years and is anticipated to continue in the upcoming years due to the increasing demand for hydrazine hydrate in the pharmaceutical sector for drug synthesis and the growing demand for agrochemicals in the agriculture industry. However, the stringent regulations as well as health and environmental concerns, are expected to impede the market growth during the forecast period.
Regional Analysis
Asia Pacific accounted for the highest revenue share of 54% in 2022. The rapid urbanization that has led to the establishment of several industrial plants has fueled the demand for hydrazine hydrate in the Asia Pacific region. Moreover, this regional growth can be highly attributed to the increasing demand in rapidly growing polymer and agrochemical sectors, especially in India and China. On the other hand, North America accounted for the second-largest market for hydrazine hydrate. The high demand for hydrazine hydrate driven by several industries such as pharmaceuticals, agriculture, and water treatment is likely expected to surge the regional market growth during the forecast period. In addition, the market for hydrazine hydrate in North America is expanding due to the strong presence of key players involved in the distribution and production of hydrazine hydrate.
Competitive Landscape
Emerging market players are presently concentrating on implementing various growth strategies to increase their product reach. They are highly focused on marketing their targeted products to capture a major market share. Also, they are focusing on geographic expansions to increase their presence in foreign markets. In addition, they are also involved in partnerships, collaborations, mergers & acquisitions, new product launches, and competitive pricing. This forms the competitive landscape in the global market and significantly drives market growth.
Market Key Players
- Lonza Group Ltd
- LANXESS AG
- Arkema Group
- Otsuka-MGC Chemical Company
- Nippon Carbide Industries Co Inc.
- LCG Science Group Holdings Limited
- Japan Finechem Inc.
- Arrow Fine Chemicals
- Alfa Aesar
- Other key Players
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 551 Million |
| Market Size (2032) | USD 878 Million |
| CAGR (from 2023 to 2032) | 4.9% |
| Asia Pacific Revenue Share | 54% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
Hydrazine hydrate can be used as a fuel in fuel cells. Moreover, fuel cells are becoming increasingly popular as a cleaner and more efficient energy source. In addition, hydrazine hydrate offers high energy density and can generate electricity through chemical reactions in fuel cells. This is positively driving the demand for its utilization in this application. Moreover, the hydrazine hydrate manufacturers have scaled up their production capacities for the manufacturing of azodicarbonamide, used in the polymer industry. This is largely due to the increase in the use of hydrazine hydrate as well as its derivatives as foaming agents in the plastic industry. Additionally, the expansion of several end-use industries such as automotive, furniture & bedding, packaging, building & construction industries is likely expected to boost the demand for polymer foams in the upcoming years.
Market Restraints
Hydrazine hydrate is a highly reactive, unstable inorganic chemical compound and strong reducing agent. While kept in an unstable state, it becomes highly explosive. Furthermore, it has carcinogenic properties and toxic nature that can lead to serious risks. Moreover, hydrazine hydrate, if inhaled, can cause harmful effects on the lungs, spleen, liver, and thyroid. As a result, the market growth for hydrazine hydrate is expected to be hampered by its harmful properties.
Market Opportunities
The hydrazine hydrate is a vital component used in the formulation of rocket propellants, most particularly in bipropellants and monopropellants. In addition, the aerospace and defense industries are largely dependent on rocket propulsion systems. As satellite deployment and space exploration activities increase, the demand for hydrazine hydrate will also rise. Moreover, hydrazine Hydrate is being increasingly used in the production of agricultural chemicals such as herbicides and plant growth regulators. These chemicals aid in enhancing crop yield and protect against diseases and pests. As the population continues to rise worldwide, the demand for agricultural products is also anticipated to increase more potentially, propelling the demand for hydrazine hydrate in this sector.
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Report Segmentation of the Hydrazine Hydrate Market
Concentration Level Insight
The 60-85% segment held the largest revenue share in 2022. This 60-85% concentration level is mostly preferred for the manufacturing of veterinary drugs, polymerization processes as an initiator or blowing agent, chemical synthesis, and as a propellant in emergency power units (EPU) in F16 aircraft and single-engine aircraft. It is also projected to expand more significantly over the forecast period.
Application Insight
The polymerization and blowing agent segment dominated the global market with the largest share in 2022. This significant share can be highly attributed to the use of hydrazine hydrate as a foaming agent in polymer industries for manufacturing purposes. Likewise, the hydrazine hydrate derivatives are used as polymerization initiators and low-temperature blowing agents such as azobis isobutyronitrile and azodicarbonamide. As a result, this segment is expected to grow exponentially during the forecast period.
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Market Segmentation
By Concentration Level
- 100%
- 60-85%
- 40-55%
- 24-35%
By Application
- Water Treatment
- Polymerization & Blowing Agents
- Agrochemicals
- Pharmaceuticals
- Other Applications
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Recent Development of the Hydrazine Hydrate Market
- In November 2022, Matrix Fine Chemicals entered into a new cooperation agreement with a global logistics provider. Due to this acquisition, the company became able to use a new warehouse in southern Germany for the storage of non-hazardous and hazardous materials.
- In May 2022, Lonza Group collaborated with ALSA Ventures in order to the production as well as development services for the biotech firms.
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