LOS ANGELES, March 05, 2019 (GLOBE NEWSWIRE) -- QY Research has recently published a new report titled, “Global 2-Methylresorcinol Market Insights, Forecast to 2025,” that provides a key market insight of the 2-methylresorcinol market during the predicted period of 2018-2024. According to the report, the global 2-Methylresorcinol market was valued at US$ 57.8 Mn in the year 2018 and by the end of the assessment year (2024) it is expected to touch a valuation at US$ 90.34 Mn. The market is registered with a healthy CAGR of 7.73% throughout the forecast period.
Global 2-Methylresorcinol Market: Drivers and Restraints
The global market for 2-methylresorcinol is growing at a significant rate during the forecasted period. Some of the factors such as rising awareness about personal care products among consumers and the increasing usage of hair color products are expected to fuel the growth of the 2-methylresorcinol market in the near future. Growing elderly population across the globe is also likely to propel the growth of the global 2-methylresorcinol market in the years to come.
However, the fluctuation in the prices of raw materials is creating a negative impact on the growth of the market during the anticipated period.
Global 2-Methylresorcinol Market: Forecast by Application
Application segment consists of Cosmetics and Hair Dyes. Hair dyes segment is further segmented into a pigment that holds a revenue share of 80.32% in the year 2018. In the year 2018, the hair dyes segment’s sale was 720.1 MT which is expected to increase at a CAGR of 3.99% over the forecasted period.
Global 2-Methylresorcinol Market: Forecast by Form
On the basis of form segment, the market is segmented into Cosmetic Grade and Medical Grade. In terms of volume, Cosmetic Grade segment is expected to remain dominant in the global 2-Methylresorcinol market. Cosmetic Grade segment in the global 2-Methylresorcinol market is expected to create an absolute $ opportunity of US$ 18.86 Mn between 2018 and 2024.
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Global 2-Methylresorcinol Market: Forecast by Region
United States, China, Europe, Japan, India, and Southeast Asia are the six regions that are included in this report. Europe is the dominant market for the 2-Methylresorcinol market in terms of value. The Europe 2-Methylresorcinol market was estimated to be valued at US$ 24.45 Mn in the year 2018 and is expected to expand at a moderate CAGR of 4.14% over the projected period. The United States is expected to expand at a robust CAGR of 6.14% in terms of revenue during the forecasted period due to the steadily increasing consumption in this region.
Global 2-Methylresorcinol Market: Key Players
Some of the top players functioning into the global market for 2-methylresorcinol are Jiangsu Lycra Chemical, VKG, Huahong Chem, Zhejiang Dragon Chemical Group, Ycmerit, League Chemicals, Jiangsu Dingye Pharmaceutical, and Atul.
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