Global Photoinitiator Market Overview:
Photoinitiators are the compound that is widely used in adhesives, sealants, paints, coatings. inks etc. The photoinitiator, when added to a formulation, converts light energy to chemical energy, they absorb energy and produce reactive species that are capable to initiate or catalyze chemical reactions. This process of photoinitiator and light is called photopolymerization or radiation curing. It helps to transform soluble liquid formulation into a hard insoluble crosslinked network and hence produces the curing coating which is physically and chemically resistant to protect the wood, plastics, and metal. The major raw material for photoinitiators is benzyl, benzyl benzoate, chlorobenzaldehyde, ammonium acetate, sulfonium hydrochloride, 3,4-dimethoxy benzaldehyde, and other auxiliary chemicals, etc.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2022-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
The Increasing Production of UV LED Inks, Inkjet Inks is Surging the Demand for Photoinitiators and The Emerging Use of Photoinitiators in 3D Printing
Market Growth Drivers:
Rising Demand for Coatings and Adhesives for Industrial Applications and Growing Printing Industry Across the World
Restraints:
Price Fluctuations in Photoinitiators Might be the Hindrance for Market and Scarcity of Raw Material Might Hinder the Growth
Opportunities:
Technological Advancements in Photoinitiators
Competitive Landscape:
Some of the key players profiled in the report are IGM Resins BV (Netherlands), Tianjin Jiuri New Material Co., Ltd. (China), Lambson (United States), Arkema S.A. (France), Double Bond Chemical Ind. Co. Ltd. (Taiwan), Zhejiang Yangfan New Materials Co., Ltd. (China), Kurogane Kasei Co. Ltd. (Japan), TRONLY (China), Jingjiang Hongtai Chemical Engineering Co., Ltd. (China), Polynaisse Resources Chemicals Co. (China) and Hubei Gurun Technology Co., Ltd (China).
On 31st July 2020, IGM Resins announced its global expansion in the photoinitiator manufacturing facility in Anqing, China. The new site will be designed with a finished product capacity in excess of ten thousand metric tons and include backward integration into key starting materials. Further increasing its global presence, to ensure optimal customer satisfaction, IGM also announced 2 major capacity expansion projects at its Mortara, Italy photoinitiator production site that was estimated to increase the site’s capacity by 25%.
What Can be Explored with the Photoinitiator Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Photoinitiator Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Photoinitiator
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Photoinitiator market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Photoinitiator market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Photoinitiator Manufacturers, Photoinitiator International Traders, Photoinitiator Distributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies, Upstream and Downstream Buyers and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.