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.
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 (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.
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What are the growth prospects and trends in the hydrazine industry?
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 a CAGR of 6.95% during 2023-2028.
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
Breakup by Application:
- Corrosion Inhibitor
- Medicinal Ingredients
- Precursor to Pesticides
- Blowing Agents
Breakup by End Use Industry:
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
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Who are the key players operating in the industry?
The report covers the major market players including:
- Acuro Organics Limited
- 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.
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