During the first half of 2023, the hydroquinone market encountered significant challenges in Asia, Europe, and North America. The pharmaceutical, food, and healthcare sectors in these regions underperformed, and they were further affected by an oversupply of hydroquinone and diminished consumer interest. Consequently, Asia witnessed a negative price trend.
In Europe, there was a decrease in demand from industries downstream, reduced imports from Asia, and excessive production, leading to substantial stockpiles and a decline in prices. In North America, while the first quarter showed consistent demand, the second quarter saw a sharp decline due to increasing inventories and sluggish activity in the feedstock market.
In summary, an economic slowdown and decreased sales in downstream industries played a pivotal role in driving hydroquinone prices downward across Asia, Europe, and North America during this period.
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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 trends, 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 serves important roles in various industrial applications. It plays a crucial role as a reducing agent and antioxidant in numerous chemical processes, particularly in the production of polymers and resins. In the manufacturing of plastics, adhesives, and coatings, hydroquinone is employed as a polymerization inhibitor, preventing undesirable reactions. Furthermore, it is utilized in photography as a developing agent for black-and-white films and prints. Its antioxidative properties are valuable for preventing oxidation and degradation in rubber production. While its primary purpose is industrial, hydroquinone has also been utilized in cosmetics to address skin hyperpigmentation. However, it is worth noting that its use in cosmetics 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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