Hydrazine hydrate market is anticipated to reach over USD 540 million by 2024 according to this new research report. The increasing end-use applications of polymer foams has resulted in increased demand for the product. The increasing trend of use of polymer foams in piping systems & windows, flooring, etc. will spur the market growth. The rising demand of the product and its derivatives as blowing agents will accelerate the product market growth.
The demand for polymer foams is anticipated to be high due to the growth in construction, building and automotive industries. Increased urbanization and expansion of automobile sector will ramp up the market of polymer foams, which in turn will increase the product demand. The infrastructure developments taking place globally will positively impact the product market
Hydrazine hydrate is widely used as an intermediate in sectors such as water treatment and synthesis of active ingredients, which has propelled the demand for the product. Water reuse and recycling has escalated the use of the product. The use of water treatment equipment has also laid a positive impact on the demand for the product.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/844
Due to the expanding commercial cultivation of crops, the market for agrochemicals has shown a steep rise. This will fuel the demand for hydrazine hydrate. The declining arable land and the need for higher food production will lead to increased use of agrochemicals which will be profitable for the product market. High value crops like grains and cereals have driven the demand of agrochemicals which will upscale the demand for the product.
Since the product is toxic in nature, there are some health hazards associated with the product, which can hamper the product market.
Blowing agents & polymerization sector stood out to be the largest segment with a market share of about 35% of the global share by volume, and is expected to grow at a robust rate. The escalated demand is attributed to the polyurethane foams manufactured with the aid of blowing agents. Agrochemicals sector is estimated to grow with a noticeable rate and the revenue is expected to cross USD 150 million in 2024.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/844
Asia Pacific is estimated to register more than half of the global market share which will increase at a significant rate of about 5.5%. The expansion of production facilities in China and other countries will propel the demand for the product. In North America, the market value of the product is anticipated to exceed USD 80 million by 2024.
The product market is relatively consolidated with the top four players registering more than half of the overall market share. The key competitors include Arkema SA, Otsuka-MGC Chemical Company, Inc., Lonza Group Ltd., Yibin Tianyuan Group Co., Ltd., Tanshang Chen Hong Industrial Co., Ltd., LANXESS, Hunan Zhuzhou Chemical Industry Group Co. Ltd., Weifang Yaxing Chemical Co., Ltd., Japan FineChem Co. Inc., Nippon Carbide Industries Co., Inc., etc.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.