Hydrazine Market Size (2024 - 2029)

Hydrazine Market Analysis

The Hydrazine Market size is estimated at 459.24 kilotons in 2024, and is expected to reach 577.25 kilotons by 2029, growing at a CAGR of 4.68% during the forecast period (2024-2029).

The market was negatively impacted by the COVID-19 pandemic as there was a slowdown in production and mobility, wherein agrochemical and other industries were forced to delay their production due to containment measures and economic disruptions. Currently, the market has recovered from the pandemic. The market reached pre-pandemic levels in 2022 and is expected to grow steadily in the future.

• The major factor driving the market studied is the increasing demand from the agrochemical and pharmaceutical sectors.
• On the flip side, the highly toxic nature of hydrazine (such as it can cause skin burns, eye damage, etc.) is hindering the growth of the market.
• The use of hydrazine as an alternative to hydrogen in fuel cells is expected to offer various opportunities for the growth of the market.
• Asia-Pacific dominates the market across the world, with the largest consumption from countries such as China and India.

Hydrazine Industry Segmentation

Hydrazine is an inorganic compound. It is a colorless, flammable liquid with an ammonia-like smell. Hydrazine is highly toxic unless handled in solution. Hydrazine is used in several applications, such as a precursor to polymerization catalysts, as rocket fuels, to prepare the gas precursors used in airbags, as a foaming agent in preparing polymer foams, and as a storable propellant for in-space spacecraft propulsion, and is used in pharmaceuticals and agrochemicals, among others.

The hydrazine market is segmented by type, application, end-user industry, and geography. By type, the market is segmented into hydrazine hydrate, hydrazine nitrate, hydrazine sulfate, and other types (hydrazine carbonate, etc.). By application, the market is segmented into corrosion inhibitors, explosives, rocket fuel, medicinal ingredients, precursors to pesticides, blowing agents, and other applications (foaming agents, fuels, etc.). By end-user industry, the market is segmented into pharmaceuticals, agrochemicals, industrial, and other end-user industries (water treatment, etc.). The report also covers the market size and forecasts for the market in 15 countries across the globe. For each segment, the market sizing and forecasts have been done on the basis of volume (tons).