Hydroquinone Market Analysis, Current Trends and Business Opportunities
23 May 2019, 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 C₆H₄(OH)₂. 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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