Hydroquinone Price Forecast Report 2024-2025 | Price Trend, Latest Prices, Market Analysis, News, Chart, Demand, Extensive Forecast, Historical and Forecast Data

Hydroquinone Price Forecast

In April 2024, hydroquinone prices increased, driven by rising phenol and crude oil prices. The upstream benzene market contributed to this rise, with traders in East China offloading stocks amid bearish market sentiment, increasing commodity volume but dampening buying interest. Looking ahead, the sustained crude oil price hikes, influenced by OPEC+'s extended production cuts into Q2 2024, are expected to elevate manufacturing costs for downstream products like phenol, thereby pushing up hydroquinone prices in the short term. Additionally, a new trade agreement between Saudi Arabia and the US, aiming to boost economic and trade relations, is anticipated to benefit hydroquinone supply.

Market Dynamics

Currently, China's architectural paint and coatings market is experiencing sluggish growth due to a continuing property sector slowdown and economic uncertainties. The industry's rapid expansion in the early 2000s has halted, with high debt levels among developers and unsold housing inventories dampening demand. Despite this, multinational companies like AkzoNobel are expanding through acquisitions, aiming to capture market share in tier three to tier five cities. Overall, the market is likely to see consolidation, with an expected modest economic growth rate of 4% in 2024, significantly below pre-pandemic levels, depreciating the overall market and pricing outlook for the hydroquinone market. Although at present, the feedstock phenol and benzene market are extending adequate support to keep the pricing pattern of hydroquinone afloat. Additionally, the market is also fueled by the expansion in innovative technologies within the cosmetics sector.

Annual Outlook for Hydroquinone Industry

In global phenol market faces a challenging start to 2024, marked by weak demand and additional capacity from China. Despite attempts by Taiwanese, Korean, and Saudi producers to find buyers in markets like India and China, phenol demand is estimated to remain limited. The European phenol market is primarily affected, with weak demand from the downstream industries reflecting a bleak outlook for the hydroquinone market. The buyers of the feedstock commodities, therefore, are expected to sustain low inventory levels, altering the market trajectory of hydroquinone in the year 2024. Further, the closure of phenol production capacities in Japan and several other key areas will further impact the overall pricing dynamics of hydroquinone.

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Historical Price Data and Analysis:

• In-depth review of prices (including feedstock) over the past 5 years.

• Visualizations and trend analysis to identify historical patterns and seasonality.

Supply and Demand Analysis:

• Detailed analysis of current supply and demand factors shaping the market, along with projections for how these dynamics are expected to evolve during the forecast period.

• Insights from our extensive supplier and trader network, government websites, industry bodies, and global trade data.

Latest Industry News:

• Up-to-date information on recent developments and geopolitical events.

• Analysis of how these events are likely to impact future prices.

Key Macroeconomic Indicators:

• Evaluation of economic indicators such as GDP growth, inflation rates, and PMI.

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Price Outlook:

• Forecasted price trends for the next 2 years using statistical modelling and fundamental & technical analysis.

• Scenario analysis and potential price fluctuations.

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