Increasing Demand from the Agrochemical Industry to Augment the Hydrazine Hydrate Market Growth

 

Hydrazine Hydrate Market

Hydrazine hydrate is a chemical compound produced from two different elements, such as hydroxyl and hydronium, and appears colorless with a pungent smell. Hydrazine hydrate is widely used across polymerization, agrochemicals, water treatment, and the pharmaceutical industry. Moreover, it is used to manufacture pesticides, hydrogels, and plant growth regulators which are further used to improve crop production.

A key feature of the Hydrazine family is that its oxidation stability and base stability make it a very good solution for the accelerated conversion of polymers, which can be used in a wide range of industries. Hydrazine hydrate is emerging as a key technology in polymer and biotechnology industries due to its unique catalytic properties. Although hydrating agents have been safely used for years and have no reported serious health hazards, it is still important to follow safe handling procedures when handling these chemicals.

Market Dynamics

The need for high yield production, the increasing demand for food due to the increasing population worldwide, and increasing demand for hydrazine hydrate from the agrochemical industry is expected to propel the growth of the hydrazine hydrate market. For instance, overall food production needs to increase by 70% from 2005/07 to 2050 to sustain a population of 9.1 billion, according to the Food and Agriculture Organization (FAO) of the United Nations.

Increasing water treatment activities worldwide and technological advancements in hydrazine hydrate are also expected to drive the growth of the hydrazine hydrate market. For instance, in December 2020, Larsen & Toubro (L&T) announced that its water and effluent treatment business has secured multiple EPC orders for the execution of rural piped water supply schemes in various districts of Madhya Pradesh (India).

Moreover, the rapid growth of the pharmaceutical industry is also expected to fuel the hydrazine hydrate market growth. According to the India Brand Equity Foundation (IBEF), the Indian pharmaceutical sector is expected to grow to US$ 100 billion by 2025.

However, the toxic and carcinogenic nature of the hydrazine hydrate and the availability of the substitutes (such as 1-Amino-pyrrolizidine and Diethyl-hydroxylamine) for water treatment applications are expected to hamper the hydrazine hydrate market growth.

Competitive Analysis

Major players operating in the hydrazine hydrate market are Weifang Yaxing Chemical, Yibin Tianyuan Group, Hunan Zhuzhou Chemical Industry Group, Japan FineChem, LANXESS, Tanshang Chen Hong Industrial, Nippon Carbide Industries, Lonza Group Ltd., Arkema SA, and Otsuka-MGC Chemical Company.

Major players active in the market are adopting various strategies, such as product launch, M&A, business expansion, etc., to enhance their market share. For instance, in June 2020, India-based chemical manufacturing company, Gujarat Alkalies and Chemicals Ltd. (GACL) informed that its board has revised project cost estimates for the company’s hydrazine hydrate plant at Dahej facility.

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