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Hydrazine is a composite resource in Astroneer. It is a purple liquid inside of a Canister, with a purple ring on top to indicate the amount of Hydrazine left. It is the only liquid in the game, and it is also the only composite resource that is not a solid.
A canister of Hydrazine can fuel a VTOL for 266 seconds in total. This is exactly twice the efficiency of a single Hydrazine Jet Pack.
Hydrazine explodes in a greater radius than Dynamite.
However, to detonate it you need either a nearby explosion or to put it in an active Smelting Furnace.
Hydrazine used to be stored in a Canister, and while it retains its old model it currently does not actually need a canister to be stored. A canister for it is generated when crafted in the Chemistry Lab, and will disappear when used to fuel a Hydrazine Thruster or craft Graphene in the Chemistry Lab.
Hydrazine is based on the real-life inorganic (i.e. not carbon-based) compound N2H4, which has historically been used as rocket fuel or as a component of rocket fuel.
When landing with a shuttle using a Hydrazine Thruster, explosive plants on Atrox may destroy your hydrazine (in backpack or attached to the thruster) and thus disabling further travelling.