In the first half of 2023, the hydroquinone market faced significant challenges in Asia, Europe, and North America. Weak performance in pharmaceutical, food, and healthcare sectors, coupled with oversupply and reduced consumer interest, led to a negative price trend in Asia. Europe saw declining demand from downstream industries, decreased imports from Asia, and excessive production, resulting in high stockpiles and a falling price trend. North America experienced consistent first-quarter demand but a sharp decline in the second quarter due to rising inventories and weak feedstock market activities. Overall, economic slowdown and reduced sales in downstream industries contributed to a downward trend in hydroquinone prices across these regions.
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Definition
Hydroquinone is a chemical compound (C6H6O2) commonly used in various industrial and cosmetic applications. It is a white, crystalline substance with properties that include its role as a reducing agent, antioxidant, and skin-lightening agent. In industrial applications, it serves as a polymerization inhibitor, stabilizing certain polymers and preventing unwanted reactions. In cosmetics, hydroquinone is used to reduce skin hyperpigmentation and improve skin appearance by inhibiting melanin production. However, its use in cosmetics has faced regulatory restrictions due to concerns about potential side effects and safety.
Key Details About the Hydroquinone Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Hydroquinone in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Hydroquinone Price forecast, including India Hydroquinone price, USA Hydroquinone price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Hydroquinone Price Trend:
Hydroquinone has several significant industrial uses. It serves as a crucial reducing agent and antioxidant in various chemical processes, particularly in the production of polymers and resins. Hydroquinone is used as a polymerization inhibitor, preventing unwanted reactions during the manufacturing of plastics, adhesives, and coatings. In addition, it finds application in photography as a developing agent for black-and-white films and prints. Its antioxidant properties make it valuable for inhibiting oxidation and degradation in rubber manufacturing. While its primary role is industrial, hydroquinone has also been used in cosmetics to address skin hyperpigmentation, although its use in this context has faced regulatory restrictions due to safety concerns.
Key Players:
- Solvay
- Eastman Chemical Company
- Mitsui Chemicals Inc.
- Camlin Fine Sciences Ltd
- UBE Corporation
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