Hydrazine Hydrate Market 2022 Strategic Analysis, Growth Drivers, Industry Trends, Demand And Future Opportunities Till 2030
Hydrazine Hydrate Market Snapshot
According to the study, demand for hydrazine has witnessed a
notable slump in 2020 owing to the ongoing covid-19 outbreak. Restrictions on
manufacturing, automotive, and polyester industries, coupled with disruptions
to raw material supply chains has limited growth of the industry for the short
term.
As per the report, innovations in polymerization and
agriculture chemicals, and new, cost-effective production methods, will support
the market in the long term.
Despite the upwards trajectory of the hydrazine hydrate
market between 2020 and 2030, environmental and health concerns associated with
the carcinogenic and toxic nature of hydrazine hydrate, and the resultant
strict regulations on handling, storage, and use of the material is expected to
limit the growth of the sector.
The study by FMI encompasses a wide-ranging overview of the
market, with data on key dynamics of the hydrazine hydrate industry. Some of
the prominent takeaways include:
– The hydrazine hydrate market size was estimated at over
426 Mn in 2019, at over 157 thousand tons with growth diminishing moderately
for the duration of the coronavirus outbreak, owing to lockdown restrictions
and reduced demand for polymer foams and agrochemicals.
– At over 60 thousand tons of hydrazine hydrate used in
2019, the polymerization and blowing agent application segment is expected to
account for more than 37% of the market share over the forecast period.
– Water treatment and pharmaceutical applications of
hydrazine hydrate are unlikely to be affected by the covid-19 pandemic,
reflecting over 4.5% CAGR during the crisis period.
– With a production volume of over 66 thousand tons in 2019,
East Asia will remain a leading market for hydrazine hydrate, supported by the
presence of production facilities by international market leaders in China and
Japan, and high volumes of production and exports. Also, South Asia and Pacific
is expected to reflect relatively strong growth on the back of agrochemical
demand from agrarian economies in the region.
“Aside from conventional applications of hydrazine
hydrate in polymer and agrochemical sectors, demand arising from the aerospace
industry in recent years and larger investments into space exploration is
likely to aid the prospects of the market over the projection period,” said
a lead analyst from FMI.
Covid-19 Impact on Hydrazine Hydrate Market
The coronavirus pandemic has moderately affected the
hydrazine hydrate market, with the demand for polymers and blowing agents
slumping on a global scale. Also, restrictions on international trade and
lockdown regulations on the operations of the chemicals industry is 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 the pharmaceutical and water treatment segments are
unlikely to be affected by the coronavirus crisis. Applications as pharma
intermediates, and demand for potable water will help to partially mitigate any
loses arising during this time.
These factors, compounded by a decrease in consumer spending
has shrunken market size, made investors hesitant, and has hurt the average
growth rate. However, the market is likely to reflect gradual recovery towards
2021, with relaxation of lockdown restrictions.
Who is Winning?
In its latest report, Future Market Insights have provided
an in-depth overview of the business strategies that have been observed in the
hydrazine hydrate market. Major market players in the industry have largely
invested their resources into research and development endeavors for the
development of optimized production technologies. Strategic acquisitions and
capacity expansions are gaining prominence in the hydrazine hydrate sector.
Hunan Zhuzhou Chemical Industry Group Co Ltd., Otsuka-MGC
Chemical Company Inc., Tangshan Chenhong Industrial Co. Ltd., Arkema SA, Lonza
Group Ltd., Weifang Yaxing Chemical Co Ltd., Nippon Carbide Industries Co.
Inc., Yibin Tianyuan Group Co. Ltd., LANXESS, and Japan FineChem Company are
some of the more prominent players in the hydrazine hydrate market.
Read Full Research - https://www.futuremarketinsights.com/reports/hydrazine-hydrate-market
Comments
Post a Comment