During the first half of 2023, the Hydroquinone Price Index faced notable challenges across Asia, Europe, and North America. Lackluster performance in pharmaceuticals, food, and healthcare sectors, combined with oversupply and waning consumer interest, led to a downward trajectory in Asia's hydroquinone prices. Europe witnessed diminishing demand from downstream industries, reduced imports from Asia, and surplus production, resulting in significant stockpiles and a declining price trend. In North America, although demand remained steady in the first quarter, a sharp decline ensued in the second quarter due to escalating inventories and sluggish activity in the feedstock market. Overall, an economic slowdown and reduced sales in downstream industries contributed to a negative price trend in hydroquinone 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 chart, 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 pivotal role in various industrial applications. It serves as a vital reducing agent and antioxidant in numerous chemical processes, particularly in the production of polymers and resins. In industries such as plastics, adhesives, and coatings, hydroquinone acts as a polymerization inhibitor, preventing undesired reactions during manufacturing. Furthermore, it is utilized in photography as a developing agent for black-and-white films and prints. Its antioxidative properties are highly beneficial in rubber manufacturing, where it helps inhibit oxidation and degradation. Despite its predominantly industrial use, hydroquinone has also been employed in cosmetics to address skin hyperpigmentation. However, regulatory restrictions have been imposed on its cosmetic use due to safety concerns.
Key Players:
- Solvay
- Eastman Chemical Company
- Mitsui Chemicals Inc.
- Camlin Fine Sciences Ltd
- UBE Corporation
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