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Expert View: Trimethylhydroquinone Market Growing at Exponential CAGR of 4 % by 2028
Trimethylhydroquinone Market
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Surge in adoption of health supplements and rise in demand for vitamin E from the cosmetic industry drive the growth of the global trimethylhydroquinone market. However, preference toward natural vitamin E restrains the market growth. On the other hand, rise of the active pharmaceutical ingredient (API) industry creates new opportunities in the coming years.
Leading players of the global trimethylhydroquinone market analyzed in the research include Connect Chemicals Group (CCG), Haihang Industry (Haihang), Glentham Life Sciences Limited (Glentham), Shanghai Sunwise Chemical Co, Ltd. (Sunwise Chemical), Santa Cruz Biotechnology, Inc. (SCBI), Thermo Fisher Scientific (TMO), SIELC Technologies (SIELC), Toronto Research Chemicals, Tokyo Chemical Industry (TCI), and Merck KGaA.
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The report offers detailed segmentation of the global trimethylhydroquinone industry based on application and region.
Based on application, the synthesis of vitamin E segment accounted for the highest share in 2020, contributing to nearly two-thirds of the total share, and is expected to maintain its lead position during the forecast period. However, the drug production segment is projected to maintain the highest CAGR of 5.1% from 2021 to 2028.
Based on region, Asia-Pacific held the largest market share in 2020, accounting for more than one-third of the total share, and is projected to continue its dominance in terms of revenue by 2028. Moreover, this region is expected to portray the fastest CAGR of 4.7% during the forecast period.
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