Depilatory Hair Removal uses a chemical compound to dissolve body hair. Currently, the most common active ingredient is calcium thioglycolate, which breaks down the disulfide bonds in keratin and weakens the hair so that it is easily scraped off where it emerges from the hair follicle.

These come in gel, cream, lotion, aerosol, roll-on, and powder forms. Some common brands include Nair, Neet, Magic Shave, Sally Hansen and Veet. They are usually relatively inexpensive, last longer than shaving but as chemicals are present, may cause irritation or allergic reactions in some women. 

Most women who use it do so because for the most part, it's quick and painless. And now that the smell of yesteryear -- reminiscent of a hair salon perm -- has been addressed by manufacturers, it can be a relatively pleasant experience. 
Relatively inexpensive as compared to waxing or threading.
Smoother shave as there is no slicing of the hair follicle as with shaving. 
Fast -- nowadays, hair dissolves in as little as three minutes.
Various strength products available to dissolve even the strongest of hairs.
Private: Can be done at home.
Painless (with strict adherence to manufacturers’ instructions).
Available in virtually any pharmacy, supermarket or HBA store on the planet.
Reduces the presence of ingrown hairs.

Regrowth begins to appear generally within 2-5 days.
If you don't get everything, a re-do can lead to irritation. 
Dark-haired users may be left with a visible "shadow" of dark hair under skin.
Despite the scent overlays, depilatory creams are not the most pleasant-smelling.
Messy to use.
Difficult to control, especially with the bikini area. Move the wrong way and you’ll end up with a Mohawk circa 1980, worsened only by the notion that it’s probably uneven.
Can cause skin irritation or allergic reaction – a patch test is highly recommended.
Removal of Hair with Depilatories
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