According to a new market report published by Lucintel, the future of the global photoinitiator market looks promising with opportunities in UV cured coatings, inks, and, adhesives. The photoinitiator market is expected to reach an estimated $1.6 billion by 2027 and it is forecast to grow at a CAGR of 8.2% from 2021 to 2027. The major drivers for this market are increasing demand of photoinitiator due to its excellent properties like relative stability and range of light absorption.
Browse 69 market data tables and 98 figures spread through 163 pages and in-depth TOC on “Global Photoinitiator Market"
In this market, UV cured coatings, UV cured inks, and UV cured adhesives are the major applications of photoinitiator. Lucintel forecasts that paint is expected to remain the largest application due to its increasing demand for UV cured wood coatings, automotive coatings, and powder coatings. Inks is expected to witness the highest growth over the forecast period due to increasing demand in printing, graphic arts, and LED ink curing
Within the photoinitiator market, free radical type will remain the largest product type segment and is expected to witness the highest growth over the forecast period supported by increase in demand of photoinitiator in various applications such as medical devices, electronic devices, glass, and others.
Asia Pacific is expected to remain the largest region and it is also expected to witness highest growth over the forecast period due to increasing demand for photoinitiators in electronic, packaging, and automotive industries as it improves the overall productivity by reducing cure time and low VOC emissions.
Emerging trends, which have a direct impact on the dynamics of the industry, include Improved performance of UV cured coating photoinitiators in the electronic assembly and advancement in light cure adhesive technology. GM Resins, Arkema S.A, Tianjin Jiuri New Material Co. Ltd., Changzhou Tronly New Electronic Materials, and RAHN AG are the major suppliers of photoinitiators.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global photoinitiator market by application, product type, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Photoinitiator Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global photoinitiator market by application, product type, and region as follows:
By Application [Volume (M lbs) and $M shipment analysis for 2016 – 2027]
•Paints
•Inks
•Adhesives
By Product Type [Volume (M lbs) and $M shipment analysis for 2016 – 2027]
•Free Radical Type
•Cationic Type
By Region Volume [Volume (M lbs) and $M shipment analysis for 2016 – 2027]
•North America
−United States
−Canada
−Mexico
•Europe
−Germany
−United Kingdom
−France
•Asia Pacific
−China
−India
−Japan
•The Rest of the World
This 163-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/photoinitiator-market.aspx or write us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the photoinitiator market by application (paints, inks, and, adhesives), product type (free radical type and cationic type), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?