|Product Code: ETC109903||Publication Date: Aug 2023||Product Type: Report|
|Publisher: 6Wresearch||No. of Pages: 70||No. of Figures: 35||No. of Tables: 5|
India Hydrazine Market registered a growth of 52.01% in value shipments in 2022 as compared to 2021 and an increase of 9.24% CAGR in 2022 over a period of 2017. In Hydrazine Market India is becoming more competitive as the HHI index in 2022 was 2236 while in 2017 it was 2281. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on imports to meet its growing demand in Hydrazine Market.
India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Hydrazine Market in 2022 was 100.99 while in 2017 it was 422.42. China, France, Japan, Rep. of Korea and Netherlands were among the top players of the market in 2022, where China acquired the largest market share of 33.9% with a shipment value of 45.15 million USD in 2022 China also offered the product below the average market price thus having a competitive advantage over others In 2017 Japan had the largest market share of 31.12% with the shipment value of 16.04 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As Japanprice is lower than the average price, it provided a significant edge among other competitor in 2017.
The India hydrazine market is expected to grow at a CAGR of around 5.5% during 2023-2029. Increasing demand for advanced rocket fuels and propellants, increasing use in water treatment chemicals, and rising investments by the government are driving the market growth. Hydrazine is increasingly used as an additive in gasoline due to its ability to reduce exhaust emissions and improve fuel efficiency. Additionally, it increases engine performance with increased power output when used in small quantities of hydrocarbon fuels. Moreover, growing application scope of hydrazine across various industries such as rubber & plastics, pharmaceuticals, chemical processing etc., will further boost the market growth over the forecast period 2023-2029.
Growing industrialization across India is one of the major drivers behind increasing consumption of hydrazines in various industries such as agrochemicals, pharmaceuticals and cosmetics due to its versatile properties such as high stability at elevated temperatures and excellent solubility in organic solvents among others. In addition to this, development of new technologies used for treating wastewater by using algaecides and flocculants based on ammoniumsalts including those containing hydrazines has gained traction recently; which is likely to drive product usage over the coming years.
The Indiagovernmentâs stringent regulations regarding chemical management are expected to pose a challenge for producers dealing with unstable compounds like hydrozines due their hazardous nature when exposed directly or indirectly into environment or human body; which may hinder sales growth up till some extent over near future.
Major players operating within India Hydrazine industry include Dow Chemical Company (USA), Evonik Industries AG (Germany), Zhejiang Satellite Petrochemical Co Ltd (China) and LANXESS AG (Germany).