What's driving the Hydrazine Hydrate Market trends? Key Company Profiled 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 Z
Growing usage of hydrazine hydrate in the manufacturing of veterinary drugs and other drugs for the treatment of tuberculosis is expected to foster industry size over the analysis period. Pharmaceutical sector and related applications are expected to emerge as a promising revenue ground for the suppliers of the compound.
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1. Otsuka-MGC Chemical Company
2. Arkema SA
3. Lonza Group Ltd.
4. Nippon Carbide Industries Co.
5. Tanshang Chen Hong Industrial Co. Ltd.
7. Japan FineChem Co. Inc.
8. Hunan Zhuzhou Chemical Industry Group Co. Ltd.
9. Yibin Tianyuan Group Co. Ltd.
10. Weifang Yaxing Chemical Co. Ltd.
Growth Drivers are
1. Strong outlook for polymer foams in polymer industry
2. Rising demand in agrochemical industry
With rapidly growing polymerization and blowing agents sector, APAC hydrazine hydrate market share will cross USD 300 million in revenues by 2024. Increasing usage of agrochemicals in order to improve the quality of agricultural yield and increase the crop productivity will fuel product demand. Moreover, mounting burden to feed 7 billion people across the globe will have a great influence on product cosumption in the coming years.
Growing application scope in manufacturing of clean and eco-friendly fuel cells will offer major growth prospects for hydrazine hydrate market in the coming years.
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As a precursor to blowing agents in polymer foams, hydrazine hydrate market is likely to be driven by broadening application spectrum of polymer foams in automotive, construction, furniture and packaging industries. Rapid expansion of polymer industry will directly favor the growth of hydrazine hydrate market size. Polymer foam industry accounted for a volume of more than 2 million tons globally in 2015 and will is likely to exceed consumption of 3 million tons up to 2024 every year.
Hydrazine hydrate is extensively used to manufacture pyrazole as well as pyrazole derivatives and is a crucial part of insecticide industry. Agrochemical market accounted for more than USD 70 billion worldwide in 2015. Escalating food demand owing exploding global population is resulting in mounting demand for agrochemicals, which could potentially act as a major driver for hydrazine hydrate consumption.
Toxic nature of hydrazine hydrate
The product has been classified as Group 2B by the IARC (International Agency for Research on Cancer). Moreover, disposal of the hydrazine hydrate wastes also has the potential to lead to environmental concerns.
Hazardous nature of hydrazine hydrate market may stunt product adoption in various industries on account of several environmental and industry usage norms imposed by National Institute for Occupational Safety and Health (NIOSH) and OSHA, USA. Many experimental results have proven the carcinogenic properties of the chemical.
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Key Players are 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., Weifang Yaxing Chemical Co. Ltd.
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