Global Hydroquinone Market is anticipated to witness an exponential growth in the forecast period. Hydroquinone, also termed as “Benzene-1,4-diol or quinol”, is an aromatic organic compound that is a phenol, a derivative of benzene. Hydroquinone has molecular formula as C₆Hâ‚„(OH)â‚‚. Hydroquinone exists in numerous forms naturally as well. It exists in the defensive glands of the bombardier beetle and is one of the chemical components of the natural product propolis and a chemical compound found in castoreum.
The factors that propel the growth of the hydroquinone market include growing populace of infants in developing countries, technological advancement, growing awareness regarding hygiene amongst the population, increase in the global female population, rapid and high growth of verticals such as construction, paint, and the cosmetics.
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On the other hand, there are factors that may hamper the growth of the market including EU and EPA putting several limitations against the use of the products that contain more than 4% of hydroquinone, and strict rules and regulations. Hydroquinone market is anticipated to expand at a significant CAGR of 6.7% in the upcoming period as the scope, product types, and its applications are increasing across the globe. Market could be explored by product type, application and geography. Market could be explored by product type as Equipment Sales, and Rental Service,
The key applications that could be explored in the market include Cosmetics & Personal Care, antioxidants, Pharmaceuticals, polymerization, Rubber, Photo (Developer), Automotive, Others. The “Antioxidants” segment led the market in 2017 and will continue to lead in the forecast period. The key factors attributed to the growth of market include the antioxidant activity of hydroquinone. Antioxidants segment is followed by Polymerization.
Asia-Pacific accounted for the major share of the hydroquinone industry in 2017 and will continue to lead in the forecast period. The factors attributed to the growth include growing demand from the end-user industries including cosmetic, construction, etc. in countries such as India, China, and Japan. China dominates the market in terms of skin care and cosmetics products globally. Asia-Pacific is followed by North American region.
Some of the key players that fuel the growth of the hydroquinone market comprise UBE Industries, Rohdia, Eastman, Mitsui Chemicals, Yancheng Feng yang Chemical, Camlin Fine Chemicals, Neostar United Industrial Co. Ltd., Jiansu Sajili, Haihang Industry Co. Ltd., Hubei Yuangcheng Saichuang Technology Co. Ltd., MEI LE SHI Limited, Riedel-De-Haen AG, Tianjin Zhongxin Chemtech Co. Ltd., JHD Fine Chemicals and Varian. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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Market Segment:
Key Applications
• Rubber
• Agrochemicals
• Pharmaceuticals & Cosmetics
• Dyes & Pigments
Key Regions
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Key Vendors
• Camlin Fine Chemicals
• Changyu Chemical
• Eastman
• Fengyang Chemical
• Mitsui Chemicals
• Sanjili
• Solvay
• Suzhou Huifeng
• UBE Industries
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Key Questions Answered in this Report
• What will the market size be in 2023?
• What are the key factors driving the global hydroquinone market?
• What are the challenges to market growth?
• Who are the key players in the hydroquinone market?
• What are the market opportunities and threats faced by the key players?
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/chemicals
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