During the initial half of 2023, the hydroquinone market encountered substantial hurdles across Asia, Europe, and North America. A combination of lackluster performance in pharmaceuticals, food, and healthcare sectors, surplus supply, and waning consumer interest drove a downward price trajectory in Asia. Europe witnessed dwindling demand from related industries, reduced imports from Asia, and excessive production, leading to soaring stockpiles and a declining price trend. In North America, despite a steady demand in the first quarter, the market suffered a sharp decline in the second quarter due to burgeoning inventories and sluggish activities in the feedstock market. Overall, the economic slowdown and decreased sales in downstream sectors contributed to the overarching downward spiral 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 analysis, 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 plays a crucial role in multiple industrial applications. It acts as an essential reducing agent and antioxidant in various chemical processes, particularly in the creation of polymers and resins. Its function as a polymerization inhibitor is vital in preventing undesired reactions during the production of plastics, adhesives, and coatings. Moreover, it serves as a developing agent in photography for black-and-white films and prints. Its antioxidative properties are highly valuable in curbing oxidation and degradation in rubber manufacturing. Despite primarily serving industrial purposes, hydroquinone has also been employed in cosmetics to address skin hyperpigmentation. However, its cosmetic use has encountered 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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