San Francisco, CA -- (SBWIRE) -- 07/31/2018 -- Global Hydrazine Hydrate Market: Overview
Due to wide-ranging chemical properties, hydrazine hydrate finds application in numerous end-use industries. It is an inorganic compound that is manufactured commercially by using three production processes such as Bayer-Ketazine process, Olin-Raschig process, and Peroxide process. Hydrazine hydrate is used as a key blowing agent in the polymer industry. It has an odor similar to ammonia and is typically colorless. The exposure to hydrazine hydrate is restricted to some extent due to its toxic nature.
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Global Hydrazine Hydrate Market: Key Trends
The global hydrazine hydrate market is primarily driven by the growing demand for polymer foams in the polymer industry and is expected to have a great impact on the market during the forecast period. Food containers, vinyl sheets, structural foam wood grain furniture, and foamed core pipes find extensive usage of hydrazine hydrate, thus propelling the market growth.
The need for better quality agricultural food products will raise the demand for agrochemicals. Due to its chemical nature, hydrazine hydrate is widely used in the manufacturing of several insecticides, pesticides, and fungicides, thereby positively impacting the market growth.
Various environmental and industry usage norms have put a restriction on the usage of hydrazine hydrate due to its toxic nature. Carcinogenic properties of hydrazine hydrate will exacerbate the demand further.
Global Hydrazine Hydrate Market: Market Potential
Hydrazine hydrate finds extensive application in the agriculture industry due to its extensive range of chemical properties. Agro-chemicals worth US$4.1 billion may go off patent by 2020, thereby opening doors for many industry players. Several Indian agro-chemical companies are preparing to introduce new products in the market that will double up the profits of the agro-chemicals market, in turn aiding the growth of the hydrazine hydrate market.
Hydrazine hydrate's seamless characteristics can also be applied in satellites. Though toxic in nature, hydrazine hydrate was recently used in the Sentinel-2B satellite. In a particularly delicate operation, one of the most recent tasks was to fuel the satellite with hydrazine. Being extremely toxic, only a few specialists wearing 'scape' suits remain in the cleanroom to fill 133 kg of hydrazine and the task was successfully carried out.
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Global Hydrazine Hydrate Market: Regional Outlook
Geographically, the Asia Pacific region is expected to hold a significant share in the global market, and will be leading during the forecast period as well. Its dominance over the said market can be mainly attributed to the escalating demand for hydrazine hydrate in polymer and agrochemical industries, especially in China, India, and certain Southeast Asian countries.
Until the late 1990s, the global market for hydrazine hydrate was led by North America, but strict regulation norms were implemented due to health hazards and experimental trials on rodents, which invariably had a negative impact on the regional market.
Global Hydrazine Hydrate Market: Competitive Analysis
The prominent players in the global hydrazine hydrate market include Otsuka-MGC Chemical Company, Japan Fine Chemical Inc., Arkema SA, Weifang and LANXESS, Yibin Tianyuan Group Co. Ltd., Tanshang Chen Hong Industrial Co., Ltd., Nippon Carbide Industries Co. Inc., Lonza Group Limited, YAXING Chemical Co Ltd., and Hunan Zhuzhou Chemical Industry Group Company Ltd.
The global hydrazine hydrate market is moderately consolidated with leading players accounting for more than 50% of the global market in 2015. The market is expected to score healthy growth during the forecast period due to heavy demand for polymer products and corporate mergers.
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