Outlook on the Hydrazine Global Market to 2030 - Increasing Demand from End-use Industries Such as Polymers, Pesticides, Pharmaceuticals and Water Treatment is Driving Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Hydrazine Market By Application: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
The global hydrazine market was valued at $510.95 million in 2020, and is projected to reach $806.09 million by 2030, growing at a CAGR of 4.71% from 2021 to 2030.
Hydrazine is a toxic and colorless sensitizer. In the anhydrous form, it is irritating, damaging the central nervous system and causing seizures and tumors. Unlike ammonia, it has a pungent odor and is a powerful reducing agent that is highly explosive in an unstable state. This chemical is mainly used for water treatment and polymerization. It is also used in manufacture of gas precursors for automobile airbags and as rocket fuel.
The global hydrazine market is driven primarily by increasing demand from end-use industries such as polymers, pesticides, pharmaceuticals, and water treatments. Hydrazine is mainly used as a 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.
In addition, rapid urbanization, growing world population, changing climatic conditions, and declining arable land have led to food shortages and increased demand for pesticides in agriculture, which drives the market growth. In addition, hydrazine use is increasing due to strict policies by governments on use of flammable fuels to reduce carbon emissions to environment. As an agent for many transition metals and non-metals such as arsenic, selenium, tellurium, uranium and plutonium, it has a wide range of applications in the industry.
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 results 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. Exposure to hydrazine causes headaches, nausea, and throat irritation. Health concerns are expected to impede growth of the hydrazine market and pose challenges for industry participants during the forecast period. Increase in demand for fuel cells and rise in 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.
COVID-19 Impact Analysis:
COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments, and infrastructure companies. Restrictions on international trade and lockdown regulations on operations of the chemicals industry are projected to limit short term demand in the market.
Further, foam manufacturers are being forced to shut down or limit production processes for non-essential applications. However, demand for hydrazine hydrate in pharmaceutical and water treatment segments are unlikely to be affected by the coronavirus crisis. Applications as pharma intermediates and demand for potable water are expected to help to partially mitigate any losses arising during this time.
Key Benefits For Stakeholders
- This report provides a detailed quantitative analysis of the current hydrazine market trends and estimations from 2020 to 2030, which assists to identify prevailing opportunities.
- An in-depth analysis of hydrazine market across the globe is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate specific plans.
- A comprehensive analysis of factors that drive and restrain growth of the market is provided.
- Region wise and country wise market conditions are comprehensively analyzed in this report.
- The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2030 in terms of value.
- An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
Key Market Segments
- Water Treatment
- Blowing Agents
- North America
- Rest of Europe
- South Korea
- Rest Of Asia Pacific
- South Africa
- Rest of LAMEA
Key Market Players
- Arkema Inc.
- Bayer AG
- Fisons plc
- Arrow Fine Chemicals
- Arch Chemicals Inc.
- Nippon Carbide Industries Co. Inc.
- Japan Finechem Company
- Lanxess AG
- Lansdowne Chemicals
For more information about this report visit https://www.researchandmarkets.com/r/2zfhfp
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