세계 하이드로퀴논 시장 규모는 2022년 4억 610만 달러로 평가되며 예측 기간(2023-2030년) 동안 6.7%의 CAGR로 성장하여 2030년에는 6억 8,240만 달러에 달할 것으로 예상됩니다. 화장품 수요 증가와 고분자 관련 생산 활동의 호황은 제조 공정에서 중합 억제제로서 하이드로퀴논 수요를 강화하는 중요한 측면으로 시장 성장을 주도하고 있습니다.
소비자들의 가처분 소득 증가와 프리미엄 및 고급 화장품 브랜드로의 점진적인 전환은 화장품 제품 수요를 증가시키는 주요 요인입니다. 또한, 다양한 최종 이용 산업에서 폴리머 수요 증가와 환경적으로 지속 가능한 폴리머의 채택 증가는 폴리머 산업의 성장을 가속하는 두드러진 추세입니다. 따라서 세계 수준의 화장품 및 폴리머 산업의 확장은 중간체의 우수한 기능을 보장하기 위해 하이드로퀴논에 대한 수요를 자극하여 시장 성장을 가속하고 있습니다.
본 보고서는 세계의 하이드로퀴논(Hydroquinone) 시장에 대해 분석했으며, 제품 개요와 시장 기본 구조, 전체 시장 규모 동향 전망, 용도별-최종 용도별-지역별 상세 동향, 시장 배경과 주요 영향요인, 주요 기업 개요와 시장 점유율 등을 조사하여 전해드립니다.
각 부문 정보는 대상이 되는 모든 지역·나라에 대해 제공됩니다.
상기 기업은 시장 점유율 순서가 아니고, 조사 작업중에 입수한 정보에 따라서 변경될 가능성이 있습니다.
Global hydroquinone market size was valued at USD 406.1 million in 2022, which is expected to grow to USD 682.4 million in 2030 with a CAGR of 6.7% during the forecast period between 2023 and 2030. The increasing demand for cosmetic products coupled with the booming production activities related to polymers are vital aspects bolstering the demand for hydroquinone as a polymerization inhibitor in the manufacturing process is driving the market growth.
The increasing disposable income of people and a gradual shift of consumers for premium & luxury cosmetic brands are the primary factors boosting the demand for cosmetics products. Furthermore, the increasing demand for polymers in various end-use industries and the increasing adoption of environmentally sustainable polymers are prominent trends boosting the growth of the polymers industry. Hence, the expansion of the cosmetics and polymers industry at the global level is fueling the demand for hydroquinone to ensure the superior functioning of intermediates, which is fostering market growth.
Hydroquinone is deployed as an antioxidant, intermediate, and stabilizer in cosmetics products, such as powders, skin lighting creams, and other products to cure hyperpigmentation skin conditions, including freckles, melasma, and lentigines. The increasing purchasing power of people the trends for the introduction of cosmetics products targeting men, and others are accelerating the growth of the cosmetics industry.
For instance, according to the Cosmetic, Toiletry and Perfumery Association (CTPA), in 2022, the global cosmetics market was valued at USD 9,419.3 million (EURO 8,944.8 million), with an increase of 5.4%. Therefore, the booming cosmetics industry is accelerating the demand for hydroquinone as an efficient skin-lightening agent. It, in turn, is boosting the growth of the hydroquinone market.
Hydroquinone offers superior technical properties, including a boiling point of 286°C, high melting point of 171.0 °C, and a moisture content of 0.6 %. Thus, hydroquinone is employed as a polymerization inhibitor in manufacturing various polymers, such as polyethylene terephthalate (PET) and high-density polyethylene (HDPE) to increase the shelf life of polymers. The increasing adoption of polymers in the healthcare sector and the development of new polymer manufacturing infrastructure are the key trends driving the growth of the polymers industry.
For instance, according to Plastics Europe, a plastics association in Europe, in 2020, the demand for polyurethane in the European region was 3.81 million tons. In 2021, it was 4.1 million tons, with an increase of 7.6%. Therefore, the prospering polymers industry is fueling the demand for hydroquinone in the polymerization inhibitor process, which, in turn, is fostering market growth.
The presence of key market players such as Mitsui Chemicals, Camlin Fine Sciences Ltd., and others ensures an adequate hydroquinone supply in Asia Pacific. Furthermore, the growth of the end-use industries such as polymers, cosmetics, and others is spurring the revenue expansion of the hydroquinone market.
For instance, according to the recent data published by the Chemicals and Petrochemicals Manufacturers' Association (CPMA), in 2020, the production of polymers in India was 12,144 thousand metric tons. In 2022, it was 12,471 thousand metric tons, with an annual growth rate of 2.69%. Hence, the flourishing polymers, cosmetics, and other industries in the Asia Pacific region supplement the demand for hydroquinone as an intermediate, accelerating the market growth.
The synthetic rubber manufacturers are developing new manufacturing facilities to increase the supply of products to the tire manufacturers. For instance, in November 2022, KazMunayGas commenced the construction of a new synthetic rubber manufacturing facility in western Kazakhstan. The manufacturing facility will have a capacity of 83,000 tons per annum. The construction of the plant will be completed by 2025. Thus, the new synthetic rubber plant development will drive the demand for hydroquinone to ensure polymerization inhibition, which, in turn, will create a lucrative opportunity for market growth.
The future anticipated growth of the paints and coatings industry will drive production activities to increase the product offering in the global market. For instance, according to Akzo Nobel India, India's paints and coatings market will reach USD 12.1 billion by 2027. Therefore, the future anticipated growth of the paints and coatings industry will create a potential for the hydroquinone market growth.
However, the recent bans related to hydroquinone in established markets such as the United States, Germany, and others, specific to cosmetics products, will restrain the market growth eventually. For instance, in April 2022, the United States Food and Drug Administration (FDA) issued warning letters to 12 companies selling over-the-counter skin lighting products containing hydroquinone in the United States. The utilization of hydroquinone in over-the-counter skin-lightening products is banned in the United States.
The key industry players in the hydroquinone industry are Eastman Chemical Company, Solvay, UBE Corporation, Mitsui Chemicals, and others. These players are prominently involved in the manufacturing and supply of hydroquinone and are adopting technology innovation, acquisitions, product innovations, facility development, and others to increase their market revenue and volume share in the global hydroquinone industry.
In September 2020, Camlin Fine Sciences commenced the commercial production of hydroquinone in the Diphenol manufacturing plant at Dahej SEZ, Gujarat, India. The focus of the production expansion is to increase the production and supply of hydroquinone in the Asia Pacific market.
All segments will be provided for all regions and countries covered:
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.