Middle East & Africa hydrazine hydrate market is projected to grow at a relatively slower rate to 2022
The global hydrazine
hydrate market was valued at USD 395.7 million in 2016 and is projected to reach USD 531.1 million by
2022, at a CAGR of 5.5% between 2017 and 2022. Hydrazine hydrate is a
highly reactive and unstable inorganic chemical compound. It has a pungent
smell similar to ammonia.
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It is a powerful reducing agent,
which is highly explosive when in unstable state. It is a colorless flammable
compound. Owing to its high reactivity, hydrazine hydrate is used in various
industrial applications. It is mainly used as a foaming agent in polymer foams.
The growing demand for hydrazine
hydrate from the agrochemicals & water treatment industries in Asia Pacific
and expansion of pharmaceutical industry, especially in emerging economies, are
the factors contributing to the growth of the global hydrazine hydrate market.
Polymerization & blowing agent is
the major application of the global hydrazine hydrate market. Hydrazine hydrate
is used in manufacturing of blowing agents.
Blowing agents produced from
hydrazine hydrate have a high gas emission rate than that of other blowing
agents, and the products manufactured from these blowing agents are nontoxic,
odorless, and display more stable properties. Derivatives of hydrazine hydrates
such as azobisisobutyronitrile and azodicarbonamide are used as polymerization
initiators and low temperature blowing agents.
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Based on concentration level, the 60%-85%
concentration segment of the global hydrazine hydrate market is projected to
grow at the highest CAGR during the forecast period.
The 80% concertation grade of
hydrazine hydrate is used in the production of heterocyclic compounds such as
triazole derivatives, pyridazine derivatives, tetrazole derivatives, pyrazole
derivatives, thiadiazole derivatives, and pyridazone derivatives. This
concentration level accounted for largest market share due to its high demand
in blowing agents, water treatment, and agrochemical applications.
Arkema is one of the major
manufacturers of hydrazine hydrate. The company operates through three business
segments, namely, high performance materials, industrial specialties, and
coating solutions.
The company offers hydrazine hydrate
through its industrial specialties business segment. Arkema manufactures
hydrazine hydrate at its Lannemezan plant (France). The company has a widespread
presence and distribution networks in Asia Pacific, Europe, Middle East &
Africa, and the Americas.
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In 2016, Asia Pacific accounted for
the largest share of the global hydrazine hydrate market, followed by North
America. The high demand for hydrazine hydrate in Asia Pacific is attributed to
the growth of the agrochemical and polymer industries over the past few years.
The rapid economic development is
facilitating the growth of the building & construction industry in Asia Pacific,
which is further pushing the demand for blowing agents in the region. The Middle
East & Africa hydrazine hydrate market is projected to grow at a relatively
slower rate in comparison to other regions.
Reference:
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