The Hydrazine Hydrate Market is predicted to grow at a CAGR of 5.1% during the forecast period of 2022-2027 and reach a market value of US$700 million by 2027. The growth of the Hydrazine Hydrate market would be significantly dependent on the surge in plastic production and growth in the chemical industry. Hydrazine hydrate is extensively used as an intermediate in organic synthesis across a range of industries such as chemicals, pharmaceuticals and agrochemicals. It is also utilized as a solvent in numerous inorganic compounds. The major hydrazine hydrate grades used are reagent grade, industrial grade and technical grade. It is widely used as a blowing agent in the manufacturing of polymers. According to research by Plastics Europe, the world market for plastic was valued at US$568.9 billion in 2019 and Asia-Pacific accounted for nearly half market share in terms of production and 38% share in terms of consumption.

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Hydrazine Hydrate Market: The Chemical Manufacturing Segment Leads the Market

On the basis of application, the Hydrazine Hydrate market can be segmented into agrochemicals, water treatment, chemical manufacturing, metal purification, pharmaceuticals, energy and power, polymer and others. The chemical manufacturing segment held the largest share of the hydrazine hydrate market in 2021, with a share of over 22%. Hydrazine hydrate is largely used as an intermediate in chemical manufacturing in the chemical treatment process such as metal & mine extraction. It is also utilized in the production of fine chemicals as laboratory reagents. According to the European Chemical Industry Council, AISBL, in 2020, global chemicals sales accounted for 3,471 euro billion (US$3,454.40 billion). Therefore, the surge in the production of chemicals is boosting the demand for Hydrazine Hydrate.

Hydrazine Hydrate Market: Asia-Pacific Holds the Largest Market Share

On the basis of geography, the Hydrazine Hydrate market can be categorized into North America, Europe, Asia-Pacific, South America and the Rest of the World. According to IndustryARC’s analysis, Asia-Pacific has emerged as one of the most lucrative regions in the market. In 2021, the Asia-Pacific region held a market share of 44% in the overall market. Asia-Pacific comprises fast-developing economies such as China, India, Indonesia and Malaysia. This is supporting the market growth. The region comprises several leading industries such as chemicals, agrochemicals, energy and power and pharmaceuticals. According to India’s National Investment Promotion and Facilitation Agency, in 2021, the country’s share in the global specialty chemicals market increased to 4%. Thus, the presence of a leading end-use industry along with a surge in chemical production is fueling the growth of the hydrazine hydrate market in this region. Asia-Pacific is followed by Europe which is expected to gain demand for the hydrazine hydrate market. The major countries in Europe include the UK, Germany, France, Italy, the Netherlands, Spain, Russia and Belgium.

Hydrazine Hydrate Market: Competitive Landscape

The key companies holding a major share in the Hydrazine Hydrate market are Arkema S.A., Lonza Group, Lanxess, HPL Additives Limited, Otsuka-MGC Chemical Company, Inc., Yibin Tianyuan Group, Yaxing Chemical, Hangzhou Dayangchem, Capot Chemical Co., Ltd. and Haihang Group.

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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.