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Hydroquinone Market: Introduction

  • Hydroquinone is an aromatic compound containing two hydroxyl groups. It is a synthesis intermediate for rubber. It is used in cosmetic formulations employed for skin lightening.
  • Hydroquinone is used for various applications in agrochemical and pharmaceutical industries. It is employed as a photographic developer and as synthesis intermediate for rubber and dyes.
  • Hydroquinone is used as an inhibitor of polymerization. Due to its outstanding photo-developing properties, it is also employed as a photo developer and as a raw material in the manufacture of dye intermediates.
  • Three commercial processes can be employed to produce hydroquinone: hydroxyperoxidation of p-di-isopropyl benzene (p-DIPB), hydroxylation of phenol, or oxidation of aniline

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Growth of Automotive Rubber Sector to Drive Global Hydroquinone Market

  • According to L'Oréal, a leading manufacturer of cosmetic products, the global cosmetics industry was valued at US$ 532 Bn in 2018 and is expected to expand at a CAGR of 5.5% from 2018 to 2020. The global cosmetics industry is primarily driven by rise in urbanization; continuous increase in the online spending on beauty products; expansion of social networks; increase in consumer interest in new and premium products; growth in elderly population worldwide; and surge in the upper-middle-class population.
  • Hydroquinone provides various benefits such as reduction in pigmentation, lightening of discoloration, even skin tone, and elimination of blemishes. Reduction in various skin issues, such as age spots or acne spots, has augmented the inclination of consumers toward skin lighteners such as hydroquinone. Thus, manufacturers are introducing hydroquinone in order to cater to different needs of consumers.
  • Hydroquinone is a skin-lightening agent. It bleaches the skin, which can be helpful in treating different forms of hyperpigmentation. Hydroquinone bleaches the skin by decreasing the number of melanocytes. Melanocytes make melanin, which is responsible for skin tone.
  • In case of hyperpigmentation, high amount of melanin is present, due to increase in melanocyte production. By controlling melanocytes, the skin can be made more evenly toned over the time.

Applications of Hydroquinone

  • Based on application, the global hydroquinone market can be segmented into antioxidants (for non-foods, fats, and oils); polymerization inhibitors (for vinyl monomers, acrylic monomers, and USP); intermediates (for agricultural chemicals and dyes), depigmenting creams, and others
  • Hydroquinone (HQ) is a white crystalline substance used primarily as an inhibitor in polymerization as well as production of antioxidants for food, rubber, plastic, and other industries. HQ is also employed in the production of polyetheretherketone (PEEK), an advanced engineering material used in aerospace and automotive industries.
  • Hydroquinone is formulated into creams, lotions, and gels to produce effective skin- lightening products
  • Hydroquinone is used to lighten dark patches of the skin (also called hyperpigmentation) caused by pregnancy, birth control pills, hormone medicines, or injury to the skin

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Asia Pacific to Hold a Major Share of Global Hydroquinone Market

  • In terms of region, the global hydroquinone market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific held a major share of the global hydroquinone market in 2018. The market in the region is expected to expand rapidly during the forecast period. The global skin care industry witnessed significant growth in 2018, led by growth of the upper-middle–class population all over the world and, especially in Asia.
  • Improving purchasing power of consumers in Latin America is a major factor driving the demand for skin care products in the region. Rise in the purchase of creams and lotions for depigmentation is likely to drive the hydroquinone market in the region during the forecast period.

Key Players Operating in Global Market

The global hydroquinone market is fragmented, with market players focusing on adopting advanced technologies to gain higher market share. These players offer a complete portfolio of products and focus on different business strategies to strengthen their market position. Key players operating in the global hydroquinone market are:

  • Solvay
  • Eastman Chemical Company
  • Mitsui Chemicals Asia Pacific Ltd.
  • Ube Industries, Ltd.
  • Camlin Fine Sciences Ltd.
  • Kawaguchi Chemical Industry Co. Ltd.
  • Tianjin Zhongxin Chemtech Co. Ltd.
  • GJ Chemical Company

Global Hydroquinone Market: Research Scope

Global Hydroquinone Market, by Application

  • Antioxidants
  • Polymerization Inhibitors
  • Intermediates
  • Depigmenting Creams
  • Others

Global Hydroquinone Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
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The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Hydroquinone Market