India Hydroquinone Market Shipment Analysis
India Hydroquinone Market registered a growth of 84.56% in value shipments in 2022 as compared to 2021 and a decrease of -0.72% CAGR in 2022 over a period of 2017. In Hydroquinone Market India is becoming more competitive as the HHI index in 2022 was 2437 while in 2017 it was 3481. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on imports to meet its growing demand in Hydroquinone Market.
India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Hydroquinone Market in 2022 was 4.39 while in 2017 it was 4.34. Japan, USA, France, China and Italy were among the top players of the market in 2022, where Japan acquired the largest market share of 33.76% with a shipment value of 25.59 million USD in 2022 Japan also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Hydroquinone Market. In 2017 Italy had the largest market share of 45.22% with the shipment value of 19.4 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As Italyprice is lower than the average price, it provided a significant edge among other competitor in 2017.
