In terms of value, the hydrazine hydrate market is estimated to grow from USD 222 million in 2021 to USD 308 million by 2027, at a CAGR of 5.8%. The main drivers of the hydrazine hydrate market are the rising demand from agrochemicals industry, growing pharmaceutical sector and mounting demand for polymer foams.
The hydrazine hydrate market is projected to grow because rising demand from agrochemicals industry. The agrochemicals industry offers substantial potential for the use of hydrazine hydrate for advancements in technologies and rapid developments in the manufacturing of agricultural products . Therefore, the rising demand from agrochemicals industry is a crucial driving factor behind the demand for hydrazine hydrate.
The key players in this market are Arkema S.A. (France), LANXESS AG (Germany), Lonza Group AG (Switzerland), LGC Science Group Holdings Limited (UK), and Nippon Carbide Industries Co., Inc. (Japan). The major market players given a high importance on incorporating new technologies to keep up with the frequently changing demands of the hydrazine hydrate around the world. To develop their market position in the industry, these players have implemented a range of growth strategies such as joint ventures, mergers & acquisitions, and launching new products. These strategies have been employed to expand their market share in the hydrazine hydrate industry.
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Lanxess AG is a multinational manufacturer of specialty materials. Its main business is the development, manufacturing, and marketing of chemical intermediates, additives, and consumer protection products. The company offers hydrazine hydrate through its advanced industrial intermediate business unit. It operates 63 manufacturing sites in 19 countries and covers 33 countries in five regions. The company is improving its geographical presence, especially in the US, through acquisition.In August 2021, the company acquired Emerald Kalama Chemical. It is a US-based specialty chemicals manufacturing company. In General, this acquisition improved the value chain of the company in the consumer protection business segment.
Lonza Group AG is a multinational specialty chemical manufacturing company for the biotechnology, nutrition, and pharmaceutical sectors. It has became the world’s largest provider of water treatment products with its acquisition of Arch Chemicals in 2011. It offers hydrazine hydrate through its biologics business segment. Moreover, the company has a presence in Europe, North and Central America, Asia, Latin America, and Australia & New Zealand. Along with its presence, it has 37 manufacturing sites across the globe. In May 2022, the company made collaboration with ALSA Ventures. This collaboration is made to provide development and manufacturing services for biotech firms.
Polymerization & Blowing Agents was the largest application of the hydrazine hydrate market, in terms of value, in 2021
Hydrazine hydrate is used in production plastics and rubber chemicals. It is used as a raw material foaming agents or chemical blowing agents. Also, the derivatives of hydrazine hydrates, such as azobis azodicarbonamide and isobutyronitrile, are used as low temperature blowing agents and polymerization initiators.
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60%-85% is estimated to be the largest concentration level of the hydrazine hydrate, in terms of value, during the forecast period.
100%, 60%-85%, 40%-55% and 24%-35% are various market segment based on the concentration level. During the forecast period, 60%-85% is projected to hold the largest market share of hydrazine hydrate. This concentration level is used as a propellant in emergency power units (EPU) in the single-engine aircrafts, F16 fighter aircrafts. Moreover, it is also used in manufacturing of veterinary drugs, chemical synthesis and polymerization processes as initiator or blowing agent.
Asia Pacific is estimated to be the largest market for the hydrazine hydrate market, in terms of value, during the forecast period.
Asia Pacific is projected to be the largest market for hydrazine hydrate, both in terms of value and volume, during the forecast period. One of the major reasons for the growth of the hydrazine hydrate market in the Asia Pacific region is the increasing industrialization and economic development in countries within the region. In addition, less stringent regulations in the region helps manufacturers to produce and sell without any hindrance.
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