In the industrial sector, hydrazine hydrate is broadly used in redox reactions, nuclear fuel reprocessing, polymerization catalysts, gas scavengers, and metal electrolytic plating on glass and polymers. In addition to this, it also finds its application in the agricultural domain to improve crop productivity and gain better yields. With the boisterous rise in population, it has become paramount to extend food production, burdening the agricultural sector. Therefore, agrochemicals are being used to maintain soil fertility and enhance crop health. Besides, hydrazine hydrate is also used in pharmaceuticals. A combination of isoniazid and hydrazine is used to develop an antibiotic to treat tuberculosis. In light of its arrayed applications across the spectrum of industries, the global hydrazine hydrate is likely to experience robust growth, going forward.
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Numerous Industrial Applications of Hydrazine Hydrate to Sustain Market Growth
The global market is majorly backed by the expansive application base of hydrazine hydrate across the verticals of industries. It is widely used as an agent for diverse transition metals and non-metals. Uranium, selenium, plutonium, and tellurium are key metals harnessing the potential of these elements. In reactor cooling and boiler feedwater, hydrazine hydrate momentously plays the role of corrosion inhibitor, decreasing the corrosion rate of materials. Lately, environmental concerns have been at its peak and people are becoming well-informed of the adverse impact of consuming contaminated water. Advancements in wastewater treatment facilities considering the growing demand for potable water are underway. All factors combined are fuelling the hydrazine hydrate market growth.
Use of Hydrazine Hydrate in Agrochemical Production Bodes Well for Global Market
Evidently, arable land has drastically plummeted with the incessant rise in urbanisation and industrialisation. Businesses, buildings, homes, highways, and infrastructure development is at the forefront of present-day development sufficing the needs of the globally growing population in recent years. To enhance crop yields and productivity, chemicals and pesticides are being used as a shield against insects, microorganisms, and other related threats that might cause harm to crops. In this regard, agrochemicals instrumentally influence agricultural productivity and output. Agrochemicals, including insecticides, plant growth agents, and hydrogels, utilise hydrazine hydrate in their production. During the projection timeframe, the global hydrazine hydrate market growth shall be majorly driven by its extensive application in agrochemicals.
Substantial Growth of End-use Sectors Creates Positive Dynamics for Market in Asia Pacific
Notably, the global hydrazine hydrate market is accentuated in the Asia Pacific with growing establishments in economies such as India, China, South Korea, Japan, and Australia. Among these, China and India are the most prominent consumers of hydrazine hydrate. China proudly boasts the world’s greatest arable land denoting a consistent demand for agrochemicals. Furthermore, a concentrated pool of end-users is significantly broadening the growth prospects of diverse end-use sectors in the region. Based on a World Health Organization (WHO) report, tuberculosis cases have the highest prevalence in six Asian countries. This further place the need for hydrazine owing to its application in refining and purifying procedures.
Prominent Market Players
The most competitive players operating at the vanguard of the global hydrazine hydrate market include LANXESS, Lonza, Arkema, Yaxing Chemical, Otsuka-MGC Chemical Company, HPLA Group, Yibin Tianyuan Group, and Hunan Zhuzhou Chemical Group.
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