Hydrazine hydrate is a colorless, flammable liquid that is used in rocket fuel and chemical synthesis. It is a good reducing agent, which means it can donate electrons to other compounds. It is used in rocket engines to generate thrust by reacting with an oxidizer such as nitrogen tetroxide. It is used in chemical synthesis to decrease the oxidation state of a compound, such as a ketone or an aldehyde. Hydrazine hydrate is in high demand due to its widespread use in the aerospace and defense industries, as well as the manufacture of pharmaceuticals and agricultural chemicals. The global hydrazine hydrate market was projected to reach USD 531.1 Million by 2022, at a CAGR of 5.5%.

The global hydrazine hydrate market is expected to be dominated by the polymerization and blowing agents. Hydrazine hydrate is used in polymerization and blowing agents to create various types of foams, such as polyurethane foams, which are used in a variety of industries, including automotive, building and construction, and furniture. Hydrazine hydrate is used in the production of polyurethane foams to catalyze the reaction between isocyanates and polyols, which helps to improve the foam's physical properties such as heat resistance and thermal insulation. The growing demand for polyurethane foams from various end-use industries is propelling the global hydrazine hydrate market's polymerization & blowing agents application segment forward.

Because of the presence of large and emerging countries such as China, India, South Korea, and Japan, the Asia Pacific region is the key market for the growth of hydrazine hydrate. These countries' rising industrialization and population growth have increased demand for hydrazine hydrate. Furthermore, the region has seen increased demand from the aerospace, defence, and automotive industries, as well as increased investment in R&D activities. Furthermore, increasing demand for hydrazine hydrate for water treatment and wastewater treatment applications is driving demand in Asia Pacific, owing to rising concerns about water pollution.