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North America to procure a major share of Hydrazine Hydrate Market by 2024 | Yibin Tianyuan Group Co. Ltd., Lonza Group Limited, Arkema SA, YAXING Chemical Co Ltd., Otsuka-MGC Chemical Company

North America to procure a major share of Hydrazine Hydrate

As a precursor to blowing agents in polymer foams, hydrazine hydrate demand 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.

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Top Key Players in The Market are:

YAXING Chemical Co Ltd., Otsuka-MGC Chemical Company, Yibin Tianyuan Group Co. Ltd., Lonza Group Limited, Arkema SA, Weifang and LANXESS. Other market participants functioning in the business are Tanshang Chen Hong Industrial Co., Ltd., Japan Fine Chemical Inc., Nippon Carbide Industries Co. Inc., and Hunan Zhuzhou Chemical Industry Group Company Ltd.

Hydrazine hydrate market 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.

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.

Mounting demand from water treatment applications

Hydrazine hydrate solution is widely used in water treatment plants to remove the dust particles, germs transferred through water and other disinfectants such as ozone chlorine and chloride dioxide. The product used in both the domestic and commercial sectors for purifying and enhancing the quality of the water.

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.

Toxic nature of hydrazine hydrate market

Hazardous nature of hydrazine hydrate 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.

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.

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