The global fire alarm and detection market revenue is expected to expand at a lucrative CAGR over the forecast period. Increasing adoption of the product in virus end-use industries is expected to drive growth of the global hydrazine market.
In boiler water treatment, hydrazine is use as a removal of water dissolved oxygen, achieve very low impurity levels, and passivate inner boiler systems. The benefits of these properties include less corrosion, higher operating reliability, longer life cycle, energy savings, maintenance cost reduction etc. In waste water treatment, hydrazine is used for removal of contaminants such as Br2, Cl2, NOx, and heavy metals from aqueous and gaseous streams.
Health concerns regarding the use of hydrazine is expected to restrain growth of the market over the forecast period.
The global market is segmented on the basis of application and region. On the basis of application, the target market is segmented into pharmaceuticals, water treatment, blowing agents, and agrochemicals. The blowing agent’s application segment is expected to dominate the target market, and is expected to maintain its dominance over the forecast period.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Europe is estimated to account for highest share in the global market in terms of revenue over the forecast period, owing to increasing demand for hydrazine in agro chemical and water treatment industries in US and Canada. The market in Asia Pacific is expected to account for second-highest share in the target market, owing to increasing consumption of hydrazine in end-use industries such as agriculture, polymer, pharmaceutical, and water treatment.
Key players operating in the global hydrazine market include Arkema Inc., Bayer Nordic, Arrow Fine Chemicals, Chemtex Speciality Limited, Japan Finechem Inc., Lansdowne Chemicals Plc, LANXESS Corporation, Lonza Group Ltd., NIPPON CARBIDE INDUSTRIES CO.INC., and Palm Commodities International, Inc.