Hydrazine Hydrate Market to Witness Robust Expansion throughout the Forecast 2020-2030 | Future Market Insights

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Future Market Insights has announced the addition of the “2020 Analysis and Review: Hydrazine Hydrate Market by Application – Water Treatment, Pharmaceuticals, Agrochemicals et al for 2020-2030" report to their offering.

Dubai United Arab Emirates - February 16, 2021 /MarketersMEDIA/ —

The hydrazine hydrate market is expected to reflect healthy growth of nearly 5% CAGR for the period between 2020 and 2030, surpassing a value of US$ 420 million. The coronavirus outbreak is projected to moderately affect market players, owing to the restrictions on activities in the manufacturing and chemical sectors, and reduced short-term demand for blowing and polymerization agents during the crisis. Applications in the pharma sector are likely to aid a faster recovery in the near future.

"Steadily rising demand for polymer-based products automotive, electronics, and retail, is creating a favorable environment for the hydrazine hydrate industry. The polymer & blowing agents segment is expected to gain faster growth during the assessment period," states the FMI study.

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Hydrazine Hydrates Market - Key Takeaways

Blowing agent applications of hydrazine hydrate account for major market share, owing to extensive global production of polyolefin, polystyrene, and polyurethane foam.
Agrochemical production use will provide significant impetus to hydrazine hydrate industry, driven by demand from Asian and North American agrarian sectors.
East Asia is a major market for hydrazine hydrate, supported by the presence of global market leaders of the industry in China and Japan.

Hydrazine Hydrates Market - Driving Factors

Bioactive derivatives of hydrazine hydrate are gaining growing roles in drug development applications, which will provide profitable opportunities for manufacturers for the foreseeable future.
Favorable policies by governments towards solutions for food security, and agrochemicals will aid market growth in the long term.

Hydrazine Hydrates Market - Leading Constraints

Health and environmental concerns associated with the toxicity of hydrazine hydrate is a major obstacle limiting adoption.
Strict regulations associated with the purchase, handling, storage, and use of the chemical is hindering market growth.

Expected Impact on Market by Coronavirus Outbreak

The coronavirus pandemic has hurt production activities in the blowing and polymerization agent sector on a global scale. Lockdown restrictions in terms of international trade, and the resultant disruptions to supply chains are key short-term concerns for players in the hydrazine hydrate market. Also, uncertainty over the duration of the pandemic and reduced consumer spending are negatively affecting the market.

On the other hand, manufacturers are likely to leverage opportunities in pharmaceutical and water treatment applications that are likely to remain largely unaffected by the outbreak, as demand for drinking water and drug intermediates remains strong, minimizing losses and aiding a faster recovery for the market in the near future.

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Competition Landscape

Market leaders operating in the hydrazine hydrate industry are Weifang Yaxing Chemical Co. Ltd., Otsuka-MGC Chemical Company Inc., Japan FineChem Company Inc., Yibin Tianyuan Group Co. Ltd., Nippon Carbide Industries Co. Inc., LANXESS, Tangshan Chenhong Industrial Co. Ltd., Lonza Group Ltd., and Hunan Zhuzhou Chemical Industry Group Co. Ltd, among others.

Top participants of the hydrazine hydrate market are pushing for expansion of production capacities in addition to investing in research to improve on production processes in the sector for long term industry prospects.

For instance, Lanxess AG is unveiled strategic marketing and production of hydrazine hydrate for steam and water circuit applications in terms of corrosion protection attributes. Further, the Gujarat Alkalies and Chemicals Ltd. has partnered with the Indian Institute of Chemical Technology for the development of a cost-effective, large-scale, production process for hydrazine hydrate involving a catalyst free hydrolysis process for ketazine for the production of a hydrazine hydrate aqueous solution. Also, Arkema invested 10 million euros for its hydrazine hydrate production plant in Lannemezan.