Hydroquinone Prices

Hydroquinone Prices June 2024

The hydroquinone prices in the United States for Q2 2024 reached 4670 USD/MT in June. The region witnessed steady prices propelled by rising operational costs, strong demand, and supply chain challenges. Planned bulk purchases were accepted to alleviate supply risks amid seasonal demand shifts, supporting increasing price impetus. This optimistic pricing trend reflects stable demand and effective inventory management, highlighting the sector’s resilience despite supply constraints.

The price trend for hydroquinone in Japan for Q2 2024 settled at 5300 USD/MT in June. Japan witnessed a notable price increase driven by strong demand and limited supply. Market players indulged in strategic bulk purchases to mitigate supply chain risks, spurred by the seasonal demand peaks. Elevated manufacturing activities and the global demand underscored Japan's bullish market outlook, reflecting resilience between rising costs and constrained availability.

In France, the hydroquinone prices for Q2 2024 reached 6170 USD/MT in June. France witnessed an overall decline, despite an early uptick in April because of an increased demand for hydroquinone from downstream sectors. The quarter closed with a bearish outlook as reduced production costs, along with inventory liquidation resulted in an oversupply, thereby further driving prices downward.

Hydroquinone Prices December 2023

The hydroquinone prices in the United States for Q4 2023 reached 4520 USD/MT (Hydroquinone Photographic Grade) in December. In the USA, the market experienced a decline in prices due to lower demand and surplus inventory. Reduced inquiries from downstream sectors, coupled with inadequate cost support from Benzene and falling phenol prices, led to a challenging market environment. Market participants reduced inventory at lower prices to address the oversupply and stabilize market conditions.

The price trend for hydroquinone in China for Q4 2023, reached 5860 USD/MT (Hydroquinone Photographic Grade) in December. China's market in the fourth quarter of 2023 saw prices drop due to reduced demand and oversupply. Economic uncertainties and stable raw material costs also influenced this downward trend. The market faced additional pressure from the decreased cost of phenol, prompting producers to lower prices to manage inventory levels and maintain competitiveness in a challenging environment.

The price trend for hydroquinone in France for Q4 2023, reached 6470 USD/MT (Hydroquinone Photographic Grade) in December. The market in France faced declining prices in the Q4 2023, mainly due to lower demand and excess inventory. A reduction in crude oil production and potential demand reduction put further pressure on prices. Despite these challenges, a rise in global freight costs and increased demand in December caused a slight uptick in prices, impacting market dynamics.

Regional Coverage

The report provides a detailed analysis of the hydroquinone market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the hydroquinone price trend.

Global Hydroquinone Price

The report offers a holistic view of the global hydroquinone pricing trends in the form of hydroquinone price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into hydroquinone historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into hydroquinone price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed hydroquinone demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Hydroquinone Price

Q2 2024:

During the second quarter of 2024, hydroquinone prices across Europe showed a steady yet intricate pattern, with initial price increases at the beginning followed by a downturn. Early in the quarter, France experienced a temporary surge in hydroquinone demand, driven by increased interest from downstream industries. By the end of the quarter, diminished manufacturing costs enabled suppliers to lower prices, easing the earlier upward trend. Additionally, companies began liquidating excess inventories to reduce storage expenses, creating an oversupply that further pressured prices downward amid subdued the demand for hydroquinone from downstream industries and increased freight costs.

Q1 2024:

In Q1 2024, the market in Europe exhibited a steady depreciation in prices, shaped by both supply and demand factors. Initially, prices dropped as domestic producers as well as suppliers accumulated excess inventory, with a decreased need for hydroquinone from downstream sectors contributing to an oversupply. The lack of import opportunities and subdued demand internationally further intensified this oversupply, pressing prices downward. In order to maintain competitiveness, the European market players adjusted pricing strategies, and a reduction in freight costs helped create a more consolidated, lower-priced market. Additionally, a drop in phenol prices reduced raw material costs, impacting hydroquinone production costs. However, by March, a renewed demand from importing and exporting sectors helped stabilize prices. Growing orders from industry players looking to meet increased market requirements, coupled with domestic restocking activities, lent some upward pressure to prices, signaling a shift toward a more balanced market by the quarter’s close.

Q4 2023:

During the fourth quarter of 2023, the European hydroquinone market faced various obstacles, resulting in fluctuating prices. The main factors responsible for this volatility included cautious procurement practices, decreased demand from local and international markets and a downturn in downstream industries. Economic slowdowns and high inflation across the region led to stringent financial conditions, further reducing market activity. In France, prices fell due to lower crude oil production, expected demand declines, and surplus inventory. Additionally, low prices for Phenol and lack of support from benzene contributed to the overall market pressure.

This analysis can be extended to include detailed hydroquinone price information for a comprehensive list of countries.

North America Hydroquinone Price

Q2 2024:

During Q2 2024, the North American market experienced significant price increases, primarily driven by elevated demand for hydroquinone from key end-user sectors and rising production costs. This upward trend was further compounded by supply constraints, as temporary shutdowns at significant production facilities disrupted access to essential upstream materials, notably phenol. Weather-related risks also impacted transportation routes, introducing additional volatility to the market. Suppliers responded to these challenges by adjusting production schedules and implementing strategic bulk purchasing to manage the limited supply effectively. Overall, the hydroquinone market in North America displayed strong resilience, with sustained demand as well as proactive procurement strategies reinforcing an explicit pricing environment throughout the quarter.

Q1 2024:

In Q1 2024, the market across North America witnessed notable pricing shifts. Prices initially declined driven by ample stockpiles, limited import opportunities, and reduced demand for hydroquinone from downstream industries. Concerns over potential oversupply added pressure, with high inventory levels persisting among exporting countries. In line with this, reduced raw material costs, especially for phenol, influenced Hydroquinone’s pricing. By March, however, a resurgence in demand prompted a steady price increase, driven by both export needs and domestic replenishment. Significant orders from various companies in the region responded to rising demand, leading to higher production costs and a more optimistic outlook as the quarter progressed.

Q4 2023:

In Q4 2023, the market in the North American region faced a downward pricing trend due to several factors. A key reason for the price reduction was the drop in demand locally and internationally, which led to an accumulation of excess inventory with traders. Lower raw material prices, particularly of phenol, also contributed to the declining prices. Additionally, inefficient inventory management practices further strained the market. Furthermore, a modest increase in crude oil production, coupled with a projected reduction in demand, added to the downward pressure on petrochemical prices, including hydroquinone, across the region.

Specific hydroquinone historical data within the United States and Canada can also be provided.

Middle East and Africa Hydroquinone Price

The report explores the hydroquinone pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on hydroquinone prices for countries can also be provided.

Asia Pacific Hydroquinone Price

Q2 2024:

In the Asia Pacific region, Q2 2024 witnessed a notable rise in hydroquinone prices, largely due to augmented production costs, and increased input expenses, coupled with surging feedstock prices. Supply limitations intensified due to planned plant preservation and other disruptions, tightening availability amid steadily increasing demand. These pressures were amplified by a seasonal rise in demand from end-user industries, which contributed to the market’s strong upward trajectory. Regional hydroquinone prices were further impacted by ongoing logistical challenges, with suppliers managing limited inventories to meet the heightened demand. As a result, the Hydroquinone market in APAC reflected a strong positive trend, shaped by supply chain constraints, and intensified procurement activities across multiple sectors.

Q1 2024:

In Q1 2024, the Asia Pacific market witnessed varied price movements due to regional events and market dynamics. The general factor across the APAC region leaned towards price depreciation, though fluctuations were present in certain areas. In China, hydroquinone prices at the beginning showed a minor increase but ultimately declined due to the impact of the Lunar New Year and Spring Festival closures. Seasonal factory shutdowns and labor shortages reduced production output, while an oversupply of hydroquinone led merchants to implement insistent pricing schemes and significant discounts to clear inventories. Further price drops were observed during March as logistical disruptions and a surplus supply pressured the market. As freight costs normalized and trade activity rose, market competition grew, reinforcing the downward trend in pricing.

Q4 2023:

The Asia-Pacific market encountered significant fluctuations in prices in the last quarter of 2023, driven by multiple challenges. A sluggish Chinese economy and less interest from end use industries led to an oversupply of hydroquinone, creating a difficult market environment. This excess supply resulted in a decline in prices as producers were forced to lower their quotes to clear excess inventories. Furthermore, weakened foreign demand, coupled with ongoing economic uncertainties exacerbated the price volatility. Additionally, destocking of supplies and constant raw material costs added further complexity to the market dynamics. The situation was compounded by a simultaneous decrease in Phenol prices, which created additional pressure on hydroquinone pricing.

This hydroquinone price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Hydroquinone Price

The analysis of hydroquinone prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Hydroquinone Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Hydroquinone Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of hydroquinone pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of hydroquinone at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of hydroquinone price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing hydroquinone price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Hydroquinone Market Analysis

The global hydroquinone market size reached 81 Thousand Tons in 2023. By 2032, IMARC Group expects the market to reach 117.3 Thousand Tons, at a projected CAGR of 4.20% during 2023-2032.

• Hydroquinone is a white crystalline compound that is primarily used as an inhibitor in polymerization and to produce antioxidants in plastic. The rising production of plastic for packaging purposes is impelling the growth. According to the IMARC Group, the plastic industry is expected to reach US$ 829.7 Billion by 2032. This will further catalyze the demand for hydroquinone to enhance plastic production.
• Hydroquinone is a popular ingredient in hyperpigmentation removing creams, which is required for lightening dark patches of skin like melasma, liver spots, freckles, and age spots. Hydroquinone cream functions by blocking the procedure that leads to discoloration on the skin. As per a report presented by the American Academy of Dermatology Association in 2022, the treatment of melasma is one of the most common reasons that people who have a darker complexion visit a dermatologist.
• Hydroquinone is also employed in water cooling towers as a rust inhibitor. It functions by inhibiting the oxidation procedure that can lead to the formation of sludge and rust scales. These byproducts can severely compromise the efficiency and longevity of cooling systems by restricting the flow of water and heat transfer. Moreover, the increasing construction of industrial infrastructure around the world is driving the demand for water cooling towers. According to the International Yearbook of Industrial Statistics 2023, published by the United Nations Industrial Development Organization (UNIDO), there was a 2.3% growth in industrial sectors, encompassing manufacturing, mining, electricity, water supply, waste management, and other utilities.
• Hydroquinone is also widely utilized as a stabilizer in paints and varnishes to prevent polymerization. It prevents the occurrence of unwanted chemical reactions during the storage and application of paints, which are crucial for home improvement projects. Moreover, on the basis of the information provided by the Joint Center for Housing Centers of Harvard University (JCHS), home improvement project spending grew from $328 billion in 2019 to $472 billion in 2022, with an estimated 2024 spending of $485 billion.

Hydroquinone News

The report covers the latest developments, updates, and trends impacting the global hydroquinone market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in hydroquinone production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the hydroquinone price trend.

Latest developments in the hydroquinone industry:

• February 2023: Solvay launched ISCC PLUS certified mass balance hydroquinone and hydroquinone monomethylether to meet the demand for enhanced sustainability and reduce carbon footprint of various markets.
• January 2021: Admire My Skin launched its new ultrapotent brightening serum containing 2% hydroquinone along with kojic acid, azelaic acid, lactic acid, salicylic acid, and vitamin C.

Product Description

Hydroquinone is a white crystalline reducing phenol that structurally contains benzene rings with two hydroxyl groups. It is often manufactured by the dialkylation of benzene with propene. It is widely utilized in photographic papers and films, thereby improving the quality and development of photographic images. It is employed to control the polymerization process in the production of plastics and rubbers. It restricts premature polymerization of monomers like styrene and vinyl acetate. It is widely employed as a skin lightening agent in various creams and serums, which function by inhibiting the production of melanin and the formation of dark spots. It is also adopted as an antioxidant in various food products to reduce the occurrence of oxidation, which can alter the properties of consumable items.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of hydroquinone pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting hydroquinone price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The hydroquinone price charts ensure our clients remain at the forefront of the industry.