The Growing Production Of Cosmetics And Personal Care Products is Supporting The Global Hydroquinone Market Growth.
HYDERABAD, TELANGANA, INDIA, September 29, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that The Global Hydroquinone Market size is forecast to reach US$589.8 million by 2027, after growing at a CAGR of 4.6% during 2022-2027. Hydroquinone is an aromatic organic molecule with the chemical formula C6H4(OH)2, which is a kind of phenol and a derivative of benzene. The industry is expected to grow at a CAGR of 12-15% during 2021-2022. The COVID-19 outbreak led to major economic problems and challenges for the Hydroquinone industry globally. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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Key takeaways :
1. The Asia-Pacific region is expected to grow at a high CAGR of 5.1% during the forecast period. One of the key drivers driving the market is rapid growth in polymer and synthetic rubber production.
2. However, the availability of alternative products is likely to hamper the market growth during the forecast period.
3. A detailed analysis of strengths, weaknesses, opportunities and threats will be provided in the Global Hydroquinone Market Report.
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Segmental Analysis :
1. The polymerization inhibitors segment held the largest share with 43% in the Global Hydroquinone industry in 2021 and is anticipated to grow at a significant CAGR during the forecast period 2022-2027. Polymerization inhibitor is used to stabilize reactive monomers such as acrylic acid, methyl methacrylate and cyanoacrylate which are used during the manufacturing of the polymers.
2. The polymers segment held the largest share of 37% in the Global Hydroquinone industry in 2021 and is anticipated to grow at a significant CAGR during the forecast period 2022-2027. Hydroquinone is used in the production of polymerization inhibitor which is further used in the production of polymers.
3. The Asia-Pacific region dominated the Hydroquinone industry in terms of revenue with a share of 51% in 2021 and is projected to dominate the market during the forecast period (2022-2027). The presence of key manufacturers including, Solvay, Camlin, Eastman, Mitsui Chemicals and UBE, are driving the market growth for Hydroquinone in the Asia-Pacific region.
Competitive Landscape :
The top 5 players in the Global Hydroquinone Industry are –
3. Mitsui Chemicals
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