市場調查報告書
商品編碼
1364048
全球對苯二酚市場:按應用、最終用途和地區劃分的評估、機會和預測(2016-2030)Hydroquinone Market Assessment, By Application, By End-use Industry, By Region, Opportunities and Forecast, 2016-2030F |
2022 年,全球對苯二酚市場規模為4.0□□61 億美元,在預測期內(2023-2030 年)複合年增長率為6.7%,到2030 年將達到6.824 億美元。預計將增長到1.7億美元。 化妝品需求的增加和與聚合物相關的生產活動的蓬勃發展是增強對苯二酚作為製造過程中的聚合抑制劑的需求的關鍵因素,從而推動了市場成長。
人們可支配收入的增加以及消費者逐漸轉向高端和奢侈化妝品品牌是推動化妝品需求的主要因素。 此外,各種最終用途產業對聚合物的需求不斷增加以及環境永續聚合物的日益採用也是推動聚合物產業成長的顯著趨勢。 因此,全球化妝品和聚合物產業的擴張正在刺激對苯二酚的需求,以確保中間體的優異功能並推動市場成長。
本報告分析了全球對苯二酚市場,提供了產品概述、市場基本結構、整體市場規模趨勢展望、按應用、最終用途和地區劃分的詳細趨勢以及市場背景. 調查主要企業的情況、主要影響因素、概況及市場佔有率等。
為涵蓋的所有地區/國家提供每個細分市場的資訊。
上面列出的公司並非按市場份額排序,並且可能會根據研究工作中獲得的資訊進行更改。
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.