With 6.95% CAGR, Hydrazine Market to Hit USD 719.5 Million by 2028 | IMARC Group

IMARC Group, a leading market research company, has recently releases report titled "Hydrazine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" The study provides a detailed analysis of the industry, including the global hydrazine market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the hydrazine market?

The global hydrazine market size reached US$ 478.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 719.5 Million by 2028, exhibiting a growth rate (CAGR) of 6.95% during 2023-2028.

What is hydrazine?

Hydrazine, also known as levoxine or diamine, with the molecular formula (N2H4), is an inorganic chemical compound. It is a flammable, colorless liquid with an ammonia-like odor and sensitizer. It is a highly reactive base and minimizing agent manufactured from ammonia molecules employed in many industrial and medical applications. It displays antidepressant properties by inhibiting monoamine oxidase (MAO), which is an enzyme catalyzing the deamination and deactivation of stimulating neurotransmitters, including norepinephrine and dopamine. Thus, hydrazine is widely utilized in the pharmaceutical industry for drug production. In addition, it is a potent reducing agent that can be toxic and irritating when in its anhydrous form. As a result, it is employed as an oxygen scavenger, antioxidant, and corrosion inhibitor in heating systems and water boilers. It is also used to minimize metal salts and oxides to the pure metals in electroless nickel plating and plutonium extraction from nuclear reactor waste. As a result, hydrazine finds applications in various industries, including agriculture for pesticides, photography chemicals, chemical blowing agents, textile dyes, and as fuel for rockets and spacecraft across the globe.

Request for a sample copy of this report: https://www.imarcgroup.com/hydrazine-market/requestsample

What are the growth prospects and trends in the hydrazine industry?

The market is primarily driven by the increasing demand for hydrazine in several industry verticals, such as polymers, paper and pulp, mining, food processing, and pharmaceutical sectors. In addition, the escalating product application in the pharmaceutical industry to produce drugs and intermediates is contributing to market growth. In line with this, the increasing use of hydrazine to make lightweight foaming agents, which are used in the manufacturing of insulation panels, disposable cups, and packaging, is accelerating the product adoption rate. Moreover, the widespread product use for upgrading existing wastewater treatment plants due to the limited availability of potable water, for removing pollutants, and increasing consciousness regarding the harmful impacts of drinking contaminated water represents another major growth-inducing factor. It is also widely used as a corrosion inhibitor in boiler feedwater and reactor cooling water.

Besides this, the escalating product use in pesticides in the agriculture industry for increasing crop yield, and controlling weed growth, due to changing climatic conditions, growing population, and declining arable land, is augmenting the market demand. Along with this, several governments are implementing stringent policies on the use of exhaustible fuels leading to the increased use of hydrazine as a means of minimizing carbon emissions which is catalyzing the market growth. Furthermore, rapid urbanization, growing hydrazine use as a blowing agent utilized in the printing industry for manufacturing high-quality documents with sharp edges, and extensive use of hydrazine as a rocket fuel and in the production of gas precursors for airbags in automobiles are other factors creating a positive market outlook.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Type:

Hydrazine Hydrate
Hydrazine Nitrate
Hydrazine Sulfate
Others

Breakup by Application:

Corrosion Inhibitor
Medicinal Ingredients
Precursor to Pesticides
Blowing Agents
Others

Breakup by End Use Industry:

Pharmaceuticals
Agrochemicals
Others

Breakup by Region:

North America: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Acuro Organics Limited
Arkema
Arrow Fine Chemicals
Finetech Industry Limited
Japan Finechem Inc (Mitsubishi Gas Chemical Company Inc.)
Lanxess AG, Lonza Group AG, Merck KGaA
Nippon Carbide Industries Co. Inc.
Otsuka-MGC Chemical Company Inc (Otsuka Chemical Co. Ltd.)
Tokyo Chemical Industry Co. Ltd
Weifang Yaxing Chemical Co. Ltd.

Ask Analyst and Browse Full Report with TOC & List of Figure: https://www.imarcgroup.com/request?type=report&id=4234&flag=C

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

Contact US

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

USA: +1-631-791-1145 | Asia: +91-120-433-0800

Email: sales@imarcgroup.com

Follow us on Twitter: @imarcglobal

LinkedIn: https://www.linkedin.com/company/imarc-group/mycompany/

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.