Research Offers 10-Year Forecast on Hydroquinone Market Share

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'OrĂ©al, 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 share 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
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