As per the recent market research conducted by FMI, the hydrazine hydrate market is expected to record a CAGR of 4.8% between 2023 and 2033. By 2033, the market valuation is expected to cross US$ 784 million. In 2023, the estimation is projected to be at US$ 488.9 million.
Hydrazine hydrate has been witnessing an exponentially increasing demand in the aerospace market. In 2020, the global aerospace market was valued at US$ 300 billion. With a lot of emphasis being laid on national security, the aerospace market is expected to grow. Hydrazine hydrate has been used particularly in rockets owing to its ability to work with stability under a wider range of temperatures. quest
The pharmaceutical industry has been facing a massive demand for hydrazine hydrate. From acting as tranquilizers to treating tuberculosis, the demand is expected to surge during the forecast period. Hydrazine hydrate is employed for industrial purposes as well. These are mainly employed to remove oxygen from water, as a result of which the metals do not corrode.
The automobile industry has also been making use of hydrazine hydrate. The ability to control carbon emissions is something that has attracted a lot of attention from automobile stakeholders. Only nitrogen and water are emitted, which presents massive prospects in front of the market. Increased adoption of electric vehicles presents a world of opportunities in front of the market.
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The pesticide industry has been making use of hydrazine hydrate. These are added in regulated quantities to pulverize rodents.
However, the application of hydrazine hydrate has serious side effects on human health. Increased exposure may lead to seizures, tumors, and improper functioning of the nervous system.
Thus, from the insights provided by FMI researchers, it can be inferred that the ‘surging aerospace and pharmaceutical market, application in an automobile to reduce carbon emissions, and a number of other factors are expected to increase the hydrazine hydrate market share during the forecast period.’
Key Takeaways:
- The market is expected to surge at 4.8% during the forecast period.
- The market valuation is expected to be at US$ 488.9 million in 2023.
- By 2033, the valuation is expected to cross US$ 784 million.
- As per the regional analysis, Asia Pacific is expected to be the dominant market.
- The United States market is expected to grow at 4.7%.
- The United Kingdom market is projected to advance at 5.1%.
- China hydrazine hydrate market is anticipated to surge at 5.2%.
- Japan market is expected to record a CAGR of 4.9%.
- South Korea market is projected to register a CAGR of 4.4%.
- On the basis of application, the polymerization and blowing agents segment is expected to hold the leading market share and might advance at 4.5%.
Competitive Landscape
By understanding the complexity associated with the usage of hydrazine hydrate, the key players are investing mainly on the safe storage of these chemicals. There are also lots of investments being made on mergers and acquisitions. The manufacturers are also laying a lot of emphasis on strategic collaborations, as this would enable them to get an in-depth understanding of customer needs. Based on this, they can also decide on forward or backward integration. The key players are also looking to recruit some of the best minds with a view to broaden their strategy. This would also help them to recruit the industry leaders, whose tactical moves had made a massive impact on the companies they had served before.
In November 2022, Arkema and Nippon Shokubai decided to reinforce their climate plans with EDF energy services.
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Top Key Player in the Global Market
- Arkema
- Otsuka-MGC Chemical Company Inc
- Yibin Tianyuan Group Co. Ltd
Key Segmentation
By Application:
- Water Treatment
- Pharmaceutical Industries
- Agrochemical Industries
- Polymer and Blowing Agent
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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