Hydrazine Market Expected to Reach $806.09 Million by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Hydrazine Market," The hydrazine market size was valued at $510.95 million in 2020, and is estimated to reach $806.09 million by 2030, growing at a CAGR of 4.71% from 2021 to 2030.

Hydrazine is a precursor to many pesticides, including fertilizers, pesticides, hormones, and plant growth regulators that provide crop and soil protection, improve yields, and maintain and enhance plant growth processes. Hydrazine is mainly used as water treatment, polymerization, and foaming agent. Growth of the aerospace industry and increase in space exploration in recent years are expected to drive the market during the forecast period. Hydrazine is used as a fuel in the production of gaseous precursors for rockets and airbags for space missions. Hydrazine is used in spacecraft as a propellant to lower dissolved oxygen levels and control pH of water in large industrial boilers. It is used by F16 fighters to refuel emergency generators in aircraft.

The global hydrazine market has a wide range of applications, including refining, wastewater treatment, refining, and reducing agents for boiler water treatment. Hydrazine is also used in fuel cells, which is cheaper and provides more electricity. Increase in use of hydrazine in refining, refining, and wastewater treatment is expected to complement demand and drive market growth during the forecast period. Hydrazine is used to extract precious ores and refine metals such as gold, platinum, and silver as part of refining process. Use of hydrazine for purification result in faster recovery and higher purity. Wastewater treatment uses hydrazine to remove pollutants and heavy metals. This improves productivity, selectivity, and reliability of wastewater treatment applications. Increase in demand for fuel cells and increasing use of hydrazine in the pharmaceutical industry as an intermediate is expected to open new avenues and provide favorable opportunities for industry participants during the forecast period.

Hydrazine exposure leads to headaches, nausea, and throat irritation. Health concerns are expected to hinder the hydrazine market growth and pose challenges to industry participants during the forecast period. The above-mentioned major factors hamper development of the market growth.

The global hydrazine industry is segmented on the basis of application and region.

By application, the hydrazine market is classified into halocarbons pharmaceuticals, water treatment, agrochemicals, blowing agents, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for the largest hydrazine market share of the total revenue in 2020, followed by North America and Europe. High adoption of hydrazine products in the region would continue to propel the hydrazine market, owing to presence of huge population base and presence of many developing countries in this region.

Key players operating in the global hydrazine market are Arkema Inc., Bayer AG, Fisons plc, Arrow Fine Chemicals, Arch Chemicals, Inc., Nippon Carbide Industries Co. Inc., Japan Finechem Company, Inc., Lanxess AG, Lansdowne Chemicals, and Hidkim. The other players in the value chain include Chemtex Specialty Limited, Palm Commodities International Inc., Seidler Chemical Company, Charkit Chemical Corporation, BOC Sciences, Spacechem LLC, GFS Chemicals Inc., Chemicals Incorporated, Haviland Enterprises Inc., Layson Bio, Inc., Spectrum Chemicals and Laboratory Products, and Mil-Spec Industries Corp are competing for the share of the market through product launch, joint venture, partnership, and expanding production capabilities to meet future demand for the hydrazine market during the forecast period.

Key findings of the study

• By region, Asia-Pacific accounted for the largest market share in 2020.
• According to application, the water treatment segment held the largest market share in 2020.

IMPACT OF COVID-19 ON THE GLOBAL HYDRAZINE MARKET

• Emergence of COVID-19 had less impact on growth of the global hydrazine market during the pandemic.
• This impact is mostly attributed to significant disruptions in raw material transportation, unavailability of labor, and shutdown of many manufacturing industries.
• Decrease in demand for many non-essential products and shut down of manufacturing industries created a negative impact on the development of global hydrazine market.