HYDRAZINE HYDRATE MARKET ANALYSIS

The global hydrazine hydrate market was valued at US$ 505.2 Million in 2022 in terms of revenue, exhibiting a CAGR of 6.1% during the forecast period (2023 to 2030).

Global Hydrazine Hydrate Market: Growth Drivers

Growing demand from the agrochemicals sector

Numerous agrochemical-based products, including hydrogels, insecticides, and regulators that are used to increase crop yield, are made with hydrazine hydrate. The worldwide population is rising quickly, which is boosting the global food consumption and necessitating high production yields. Owing to the increased need for pesticides and fertilizers for high output, the demand for hydrazine hydrate is growing. For instance, in December 2022, The Food and Agriculture Organization (FAO) of the UN and the World Health Organization (WHO) collaborated to provided input for the ‘Environmental and Health Impacts of Pesticides and Fertilizers and Ways to Minimize Them’ report, which highlights the need for transformative actions and better management of pesticides and fertilizers as the global demand and use of the products rises.

Figure 1. Global Hydrazine Hydrate Market Value Share (%), By Region, 2022

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Rising demand from the water treatment sector

In the water treatment sector, the hydrazine hydrate demand is rising. Water treatment uses hydrazine hydrate because it helps get rid of pollutants and heavy metals. Additionally, it offers water treatment with great productivity and dependability. Because there is less water available, there is a rising need for clean water on a worldwide scale. The market is expanding due to the use of hydrazine hydrate in the treatment of wastewater. For instance, in March 2021, according to a recent study from the Central Pollution Control Board, India now has a capability for treating 27.3% of its water and 18.6% of its sewage. Additionally, the proportion of the rural population who had access to clean and sufficient drinking water within premises climbed to 61.52% in FY 2022 from 55.23% in FY 2021, according to the Ministry of Jal Shakti of the India government.

Global Hydrazine Hydrate Market: Restraints

Harmful effects of hydrazine hydrate

Strong reducing agent, extremely reactive, and unstable, hydrazine hydrate. When held in an unstable state, hydrazine hydrate is regarded as explosive. In addition, animals have been known to develop chronic (long-term) spleen damage as a result of inhaling hydrazine hydrate, which is dangerous to the lungs, liver, and thyroid. As a result, the market expansion is being constrained by hydrazine hydrate's detrimental characteristics. For instance, in 2021, according to the United State Environmental protection agency, symptoms of acute exposure to high levels of hydrazine include irritation of the eyes, nose, and throat, temporary blindness, dizziness, headache, nausea, pulmonary edema, seizures, and coma in humans.  Acute exposure can also damage the liver, kidneys, and the Central Nervous System (CNS) in humans. The liquid is corrosive and may produce chemical burns and severe dermatitis from skin contact. Acute animal tests in rats, mice, rabbits, and guinea pigs have demonstrated hydrazine to have high acute toxicity from inhalation and ingestion and extreme acute toxicity from dermal exposure.

Global Hydrazine Hydrate Market: Market Trend

A major market trend is the use of hydrazine hydrate as a fuel in rockets for space missions. Additionally, it serves as a gas precursor in the manufacturing of airbags, which is fueling the growth of the global hydrazine hydrate market. The rapid expansion of end-use industries and consumers' shifting lifestyles are both driving the market for global hydrazine hydrate market.

Global Hydrazine Hydrate Market: Market Segmentation

Asia Pacific region dominated the Global Hydrazine Hydrate Market in 2022, accounting for 56.10% share in terms of value.

Global Hydrazine Hydrate Market: By End User

On the basis of end user, in 2022, the polymerization & blowing agents segment accounted the largest market share of 38.4% in terms of value, followed by the agrochemicals and water treatment segments.

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Global Hydrazine Hydrate Market: Key Developments

• In September 2022, Lonza Group, announced the completion of the expansion of its Highly Potent API (HPAPI) multipurpose suite in Visp (CH). The expansion adds development and manufacturing capacity for ADC payloads, which supports the entire development and manufacturing pipeline from feasibility studies to the commercial supply.
• In May 2022, Lanxess AG partnered with Provivi Inc. to scale up the production of pheromone products, through its Saltigo business unit. This partnership would create a number of opportunities for driving the market growth.
• In November 2022, Matrix Fine Chemicals entered a new cooperation agreement with a global logistics provider. With this acquisition, the company can use a new warehouse in Southern Germany to store hazardous and non-hazardous materials.
• In October 2022, Gujarat Alkalies and Chemicals Ltd started manufacturing hydrazine hydrate at its new plant in Gujarat, India. India imports nearly all its annual requirement of 17,000 tons of hydrazine hydrate. The GACL unit will be the first large-scale hydrazine hydrate factory, cutting down the nation's chemical import by 60%.

Global Hydrazine Hydrate Market: Key Companies

The major players operating in the global hydrazine hydrate market include Otsuka- MGC Chemical Company, Inc., Arkema SA, Lonza Group Ltd., Nippon Carbide Industries Co. Inc., Tanshang Chen Hong Industrial Co., Ltd., LANXESS, Japan FineChem Co., Inc., Hunan Zhuzhou Chemical Industry Group Co. Ltd., Yibin Tianyuan Group Co., Ltd., and Weifang Yaxing Chemical Co., Ltd., Polypore International, Inc and Sichem LLC are missing.

*Definition: Hydrazine hydrate is a highly reactive chemical compound that appears colorless with a pungent smell. It is widely used in polymerization and across the pharmaceutical industry. It is used as a foaming agent across the polymer industry in the production of polymers. Moreover, its derivative is used in agrochemicals.