According to the latest report by IMARC Group, titled “Hydrazine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global hydrazine market size reached around US$416 Million in 2020. Hydrazine (N2H4) is an inorganic and reactive compound produced by combining sodium hypochlorite and ammonia. In its anhydrous form, hydrazine is a highly toxic, colorless, flammable liquid and sensitizer. It is most commonly used to make lightweight foaming agents, which are further utilized in the production of disposable cups, insulation panels, and packaging. Hydrazine is also found in nuclear power stations as it is a strong reducing agent, which delays corrosion in metals. Other applications of hydrazine include deoxygenation of boiler water, chemical blowing agents, agricultural pesticides, textile dyes, photography chemicals, and manufacturing drugs for the pharmaceutical sector.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Hydrazine Market Trends:
The rising employment of hydrazine across several industry verticals is mainly driving the market growth. For instance, hydrazine is used as a transitioning agent in silver, gold, and platinum recovery processes, which is supporting the market growth. Other than this, hydrazine is used for removing contaminants and heavy metals in wastewater treatment applications under effluent conditions. This chemical also protects the boiler tubes from corrosion by forming a hard magnetic layer, which is further fueling the market growth. Additionally, the widespread product adoption as a cost-effective alternative to hydrogen in fuel cells is acting as a growth-inducing factor. Apart from this, rapid urbanization, particularly in developing nations, changing climatic conditions, decreasing arable land, and escalating food demand have intensified the employment of hydrazine in various agrochemicals, such as fertilizers, pesticides, and plant growth regulators (PGR). This, in turn, is creating a positive outlook for the market. Looking forward, the market is expected to exhibit stable growth during 2021-2026.
- Based on the type, the market has been divided into hydrazine hydrate, nitrate, sulfate, and others.
- On the basis of the application, the market has been segmented into corrosion inhibitors, medicinal ingredients, precursor to pesticides, blowing agents, and others.
- Based on the end use industry, the market has been classified into pharmaceuticals, agrochemicals, and other industries.
- Region-wise, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being 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 and Weifang Yaxing Chemical Co. Ltd.
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