LONDON--(BUSINESS WIRE)--The global hydrazine market is expected to grow at a CAGR of above 6% during the forecast period, according to Technavio’s latest market research.
In this market research report, Technavio covers the market outlook and growth prospects of the global Hydrazine market for 2017-2021. The market is further categorized into four application segments, including polymerization and blowing agents, water treatment, agrochemicals, and pharmaceuticals.
Technavio’s research analysts segment the global Hydrazine market into the following regions:
- EMEA
- Americas
- APAC
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EMEA: largest Hydrazine market
EMEA is projected to be the largest producer and consumer of hydrazine during the forecast period. The main drivers for hydrazine in EMEA is growth in the water treatment and pharmaceutical industries. Water treatment chemicals (WTCs) in Europe are used for disinfection and clarification of water. It is used for purifying brackish and/or wastewater. Key users of hydrazine are the F&B and paper and pulp industries. The region is the largest consumers of WTCs due to the presence of many water purification industries in Germany, France, the UK, Italy, and Spain. Key players such as Akzo Nobel and Arkema are the major producers of WTCs and technology leaders in this region.
“Due to the restrictions on the usage of chemicals and stringent environmental safeguards, the WTC market in EMEA is expected to witness a slow growth. Stringent regulations on the use of chemicals by the water treatment industry and other end-users are being implemented by the European Union. However, the increasing popularity of these water treatment technologies, industrial expansion and the high demand for water recycling are expected to drive the demand for hydrazine in Europe during the forecast period,” says Kshama Upadhyay, a lead specialty chemicals research expert from Technavio.
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Hydrazine market in the Americas
In terms of consumption of hydrazine and its derivatives, the Americas is the second-largest market. The increase in demand for hydrazine by the agrochemical, blowing agents, and water treatment industries in the US and Canada is expected to drive the market. The increase in the demand for PU polymeric foams by the construction and automotive industries is expected to propel growth in this region. One other factor that is driving the market, is the high demand for various types of foam blowing agents for manufacturing PU foam. The low global warming potential (GWP) and zero ozone potential depletion (OPD) of the foam blowing agents is attributed to the growth of the foam blowing agents market in the region.
“Due to the increase in R&D activities and the use of the chemical in waste reduction the growth momentum is expected to accelerate during the forecast period. However, environmental regulations imposed by the US Food and Drug Administration pose a hindrance for the market in this region,” says Kshama.
Hydrazine market in APAC
The highest CAGR during the forecast period is from APAC. Increasing consumption of hydrazine and its derivatives in end-user industries such as agricultural, pharmaceuticals, agrochemicals, industrial, and water treatment are the factors leading to the market growth in this region. Expansion of the polymer industry in countries such as China and India is anticipated to drive the global hydrazine market in APAC during the forecast period.
Another factor that is leading to the growth in APAC is the flourishing hydrazine market in developing countries such as China, Indonesia, Malaysia, and India. APAC is considered to be the most lucrative market during the forecast period. The need for water treatment chemicals has grown significantly due to the rapid increase in population and scarcity of potable water.
Some of the top vendors in the global hydrazine market as highlighted in this market research analysis are:
- Arkema
- Arrow Fine Chemicals
- Bayer
- Chemtex Specialty Limited
- Japan Finechem
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