Photoinitiators Market- Global Industry Analysis and Forecast (2023-2029)


UV cured coating and adhesive industrial growth is expected to act as supporting market for growth in the photoinitiators market in the coming years.

Photoinitiators Market is expected to grow at a CAGR of 9.2% during the forecast period. Global Photoinitiators Market is expected to reach US$ 2.87 Bn by 2029.

Photoinitiators Market Definition:

A photoinitiator is a compound which mainly takes part in the production of responsive species like cations, free radicals, or anions when come in contact with visible or UV radiation. These photoinitiators are adept of catalyzing chemical reactions which in turn brings substantial variations in the physical and solubility properties of appropriate preparations. Photoinitiators are largely required for formulation that necessitate great UV light, purity, and small filtrate on evaporation.

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Photoinitiators Market Drivers and Restraints:

High productivity and improved finishing quality are the factors expected to drive the market growth. Furthermore, ease of formulation and easy process with speed management is another factor to fuel the market demand by the numerous growing sectors. Attractive properties such as brilliant stability during storage and good efficiency at the time of application is attracting the vendor to show their interest in the market in terms of production and distribution. Growing trend in adoption of ecological product emerging as recent driving factor of the targeted market in developed and developing economies. Practice of photoinitiator in engineering of food packing and automotive considered to generate numerous employment opportunities in the coming years.

The qualities mentioned above are the main factors attracting the vendors in the market, expected to drive the global photoinitiators market during the forecast years. On the other hand, properties like attractive appearance, protection against various environmental factors, corrosion protection, and chemical resistance with product are some important factors recorded as growing factor for painting and coating, packaging market.

Moreover, fluctuation in raw material price and side effect of camphor quinone that is one of the crucial components of the photo inhibitor are expected to hamper the market. Furthermore, both petroleum and nonpetroleum based raw material are showing drastic disbalance in the market in terms of cost, which is expected to create a price burden on the vendors is expected to pull the market growth in the coming years.

Photoinitiators Market Segment Analysis:

By the application segment, the paints and coatings sector is expected to dominate the photoinitiators market currently and in the future. Paints and coatings is the largest outlet for photoinitiator, documented around three-quarters of the worldwide volume in 2022 and over one-half of the dollars. Construction, furniture, wood flooring, packaging and other is the leading coating outlet in dollars and volume. Europe consuming about 40% of the volume. In terms of painting and coating anionic and cationic radicals are extensively accepted by electronics, automobile inventors and manufacturers that allows to coat the parts of their end products; it allows easy assembling, and use of high performance specifications over a wide range of firmness contributing to this segment’s growth.

Photoinitiators Market Regional Insights:

Regionally, Asia Pacific is expected to dominate the photoinitiators market and is expected to grow at a CAGR of xx % during the forecast period. Developing regions like India, China, and Japan are considered the major contributors for the photoinitiators market growth in the Asia Pacific region. In 2022 market size was valued US$ xxBn while in India, market size was valued US$ xx Bn and expected to increase by US$ xx Bn in the coming years.

The objective of the report is to present a comprehensive analysis of the Global Photoinitiators Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding Global Photoinitiators Market dynamics, structure by analysing the market segments and project the Global Photoinitiators Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Photoinitiators Market make the report investor’s guide.

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Photoinitiators Market




Report Coverage
Details




Base Year:
2022
Forecast Period:
2023-2029




Historical Data:
2018 to 2022
Market Size in 2022:
US $ 1.54 Bn.




Forecast Period 2023 to 2029 CAGR:
9.2%
Market Size in 2029:
US $ 2.87 Bn.




 Segments Covered:
by Product Type
Radical Type
Cationic Type




by Applications
Printing ink and packaging
Paints and coatings
Adhesives
Electronic devices
Others






Photoinitiators Market, by Region

North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)

Photoinitiators Market, Key Players

1. Jingjiang Hongtai Chemical Engineering Co., Ltd
2. Zhejiang Yangfan New Materials Co., Ltd
3. Hubei Gurun Technology Co., Ltd
4. Tianjin Jiuri New Materials
5. Jinkangtai Chemical
6. Eutec Chemical Co., Ltd
7. Hubei Gurun
8. NewSun
9. Polynaisse
10. Kurogane Kasei
11. IGM Resins
12. BASF SE
13. Lambson
14. Arkema
15. DBC
16. Tronly

Frequently Asked Questions:

1. Which region has the largest share in Global Photoinitiators Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Photoinitiators Market?
Ans: The Global Photoinitiators Market is growing at a CAGR of 9.2% during forecasting period 2023-2029.

3. What is scope of the Global Photoinitiators market report?
Ans: Global Photoinitiators Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Photoinitiators market?
Ans: The important key players in the Global Photoinitiators Market are – Jingjiang Hongtai Chemical Engineering Co., Ltd, Zhejiang Yangfan New Materials Co., Ltd, Hubei Gurun Technology Co., Ltd, Tianjin Jiuri New Materials, Jinkangtai Chemical,

5. What is the study period of this market?
Ans: The Global Photoinitiators Market is studied from 2022 to 2029. 




Global Photoinitiators Market

1. Preface
1.1. Report Scope and Market Segmentation
1.2. Research Highlights
1.3. Research Objectives

2. Assumptions and Research Methodology
2.1. Report Assumptions
2.2. Abbreviations
2.3. Research Methodology
2.3.1. Secondary Research
2.3.1.1. Secondary data
2.3.1.2. Secondary Sources
2.3.2. Primary Research
2.3.2.1. Data from Primary Sources
2.3.2.2. Breakdown of Primary Sources

3. Executive Summary: Global Photoinitiators Market Size, by Market Value (US$ Bn)

4. Market Overview
4.1. Introduction
4.2. Market Indicator
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.2.4. Challenges
4.3. Porter’s Analysis
4.4. Value Chain Analysis
4.5. Market Risk Analysis
4.6. SWOT Analysis
4.7. Industry Trends and Emerging Technologies

5. Supply Side and Demand Side Indicators

6. Global Photoinitiators Market Analysis and Forecast
6.1. Photoinitiators Market Size & Y-o-Y Growth Analysis
6.1.1. North America
6.1.2. Europe
6.1.3. Asia Pacific
6.1.4. Middle East & Africa
6.1.5. South America

7. Global Photoinitiators Market Analysis and Forecast, By Product Type
7.1. Introduction and Definition
7.2. Key Findings
7.3. Photoinitiators Market Value Share Analysis, By Product Type
7.4. Photoinitiators Market Size (US$ Bn) Forecast, By Product Type
7.5. Photoinitiators Market Analysis, By Product Type
7.6. Photoinitiators Market Attractiveness Analysis, By Product Type

8. Global Photoinitiators Market Analysis and Forecast, By Application
8.1. Introduction and Definition
8.2. Key Findings
8.3. Photoinitiators Market Value Share Analysis, By Application
8.4. Photoinitiators Market Size (US$ Bn) Forecast, By Application
8.5. Photoinitiators Market Analysis, By Application
8.6. Photoinitiators Market Attractiveness Analysis, By Application

9. Global Photoinitiators Market Analysis, by Region
9.1. Photoinitiators Market Value Share Analysis, by Region
9.2. Photoinitiators Market Size (US$ Bn) Forecast, by Region
9.3. Photoinitiators Market Attractiveness Analysis, by Region

10. North America Photoinitiators Market Analysis
10.1. Key Findings
10.2. North America Photoinitiators Market Overview
10.3. North America Photoinitiators Market Value Share Analysis, By Product Type
10.4. North America Photoinitiators Market Forecast, By Product Type
10.4.1. Radical Type
10.4.2. Cationic Type
10.5. North America Photoinitiators Market Value Share Analysis, By Application
10.6. North America Photoinitiators Market Forecast, By Application
10.6.1. Printing ink and packaging
10.6.2. Paints and coatings
10.6.3. Adhesives
10.6.4. Electronic devices
10.6.5. Others
10.7. North America Photoinitiators Market Value Share Analysis, by Country
10.8. North America Photoinitiators Market Forecast, by Country
10.8.1. U.S.
10.8.2. Canada
10.9. North America Photoinitiators Market Analysis, by Country
10.10. U.S. Photoinitiators Market Forecast, By Product Type
10.10.1. Radical Type
10.10.2. Cationic Type
10.11. U.S. Photoinitiators Market Forecast, By Application
10.11.1. Printing ink and packaging
10.11.2. Paints and coatings
10.11.3. Adhesives
10.11.4. Electronic devices
10.11.5. Others
10.12. Canada Photoinitiators Market Forecast, By Product Type
10.12.1. Radical Type
10.12.2. Cationic Type
10.13. Canada Photoinitiators Market Forecast, By Application
10.13.1. Printing ink and packaging
10.13.2. Paints and coatings
10.13.3. Adhesives
10.13.4. Electronic devices
10.13.5. Others
10.14. North America Photoinitiators Market Attractiveness Analysis
10.14.1. By Product Type
10.14.2. By Application
10.15. PEST Analysis
10.16. Key Trends
10.17. Key Developments

11. Europe Photoinitiators Market Analysis
11.1. Key Findings
11.2. Europe Photoinitiators Market Overview
11.3. Europe Photoinitiators Market Value Share Analysis, By Product Type
11.4. Europe Photoinitiators Market Forecast, By Product Type
11.4.1. Radical Type
11.4.2. Cationic Type
11.5. Europe Photoinitiators Market Value Share Analysis, By Application
11.6. Europe Photoinitiators Market Forecast, By Application
11.6.1. Printing ink and packaging
11.6.2. Paints and coatings
11.6.3. Adhesives
11.6.4. Electronic devices
11.6.5. Others
11.7. Europe Photoinitiators Market Value Share Analysis, by Country
11.8. Europe Photoinitiators Market Forecast, by Country
11.8.1. Germany
11.8.2. U.K.
11.8.3. France
11.8.4. Italy
11.8.5. Spain
11.8.6. Norway
11.8.7. Russia
11.8.8. Rest of Europe
11.9. Europe Photoinitiators Market Analysis, by Country
11.10. Germany Photoinitiators Market Forecast, By Product Type
11.10.1. Radical Type
11.10.2. Cationic Type
11.11. Germany Photoinitiators Market Forecast, By Application
11.11.1. Printing ink and packaging
11.11.2. Paints and coatings
11.11.3. Adhesives
11.11.4. Electronic devices
11.11.5. Others
11.12. U.K. Photoinitiators Market Forecast, By Product Type
11.12.1. Radical Type
11.12.2. Cationic Type
11.13. U.K. Photoinitiators Market Forecast, By Application
11.13.1. Printing ink and packaging
11.13.2. Paints and coatings
11.13.3. Adhesives
11.13.4. Electronic devices
11.13.5. Others
11.14. France Photoinitiators Market Forecast, By Product Type
11.14.1. Radical Type
11.14.2. Cationic Type
11.15. France Photoinitiators Market Forecast, By Application
11.15.1. Printing ink and packaging
11.15.2. Paints and coatings
11.15.3. Adhesives
11.15.4. Electronic devices
11.15.5. Others
11.16. Italy Photoinitiators Market Forecast, By Product Type
11.16.1. Radical Type
11.16.2. Cationic Type
11.17. Italy Photoinitiators Market Forecast, By Application
11.17.1. Printing ink and packaging
11.17.2. Paints and coatings
11.17.3. Adhesives
11.17.4. Electronic devices
11.17.5. Others
11.18. Spain Photoinitiators Market Forecast, By Product Type
11.18.1. Radical Type
11.18.2. Cationic Type
11.19. Spain Photoinitiators Market Forecast, By Application
11.19.1. Printing ink and packaging
11.19.2. Paints and coatings
11.19.3. Adhesives
11.19.4. Electronic devices
11.19.5. Others
11.20. Norway Photoinitiators Market Forecast, By Product Type
11.20.1. Radical Type
11.20.2. Cationic Type
11.21. Norway Photoinitiators Market Forecast, By Application
11.21.1. Printing ink and packaging
11.21.2. Paints and coatings
11.21.3. Adhesives
11.21.4. Electronic devices
11.21.5. Others
11.22. Russia Photoinitiators Market Forecast, By Product Type
11.22.1. Radical Type
11.22.2. Cationic Type
11.23. Russia Photoinitiators Market Forecast, By Application
11.23.1. Printing ink and packaging
11.23.2. Paints and coatings
11.23.3. Adhesives
11.23.4. Electronic devices
11.23.5. Others
11.24. Rest of Europe Photoinitiators Market Forecast, By Product Type
11.24.1. Radical Type
11.24.2. Cationic Type
11.25. Rest of Europe Photoinitiators Market Forecast, By Application
11.25.1. Printing ink and packaging
11.25.2. Paints and coatings
11.25.3. Adhesives
11.25.4. Electronic devices
11.25.5. Others
11.26. Europe Photoinitiators Market Attractiveness Analysis
11.26.1. By Product Type
11.26.2. By Application
11.27. PEST Analysis
11.28. Key Trends
11.29. Key Developments

12. Asia Pacific Photoinitiators Market Analysis
12.1. Key Findings
12.2. Asia Pacific Photoinitiators Market Overview
12.3. Asia Pacific Photoinitiators Market Value Share Analysis, By Product Type
12.4. Asia Pacific Photoinitiators Market Forecast, By Product Type
12.4.1. Radical Type
12.4.2. Cationic Type
12.5. Asia Pacific Photoinitiators Market Value Share Analysis, By Application
12.6. Asia Pacific Photoinitiators Market Forecast, By Application
12.6.1. Printing ink and packaging
12.6.2. Paints and coatings
12.6.3. Adhesives
12.6.4. Electronic devices
12.6.5. Others
12.7. Asia Pacific Photoinitiators Market Value Share Analysis, by Country
12.8. Asia Pacific Photoinitiators Market Forecast, by Country
12.8.1. China
12.8.2. India
12.8.3. Japan
12.8.4. South Korea
12.8.5. Australia
12.8.6. Malaysia
12.8.7. Indonesia
12.8.8. Rest of Asia Pacific
12.9. Asia Pacific Photoinitiators Market Analysis, by Country
12.10. China Photoinitiators Market Forecast, By Product Type
12.10.1. Radical Type
12.10.2. Cationic Type
12.11. China Photoinitiators Market Forecast, By Application
12.11.1. Printing ink and packaging
12.11.2. Paints and coatings
12.11.3. Adhesives
12.11.4. Electronic devices
12.11.5. Others
12.12. India Photoinitiators Market Forecast, By Product Type
12.12.1. Radical Type
12.12.2. Cationic Type
12.13. India Photoinitiators Market Forecast, By Application
12.13.1. Printing ink and packaging
12.13.2. Paints and coatings
12.13.3. Adhesives
12.13.4. Electronic devices
12.13.5. Others
12.14. Japan Photoinitiators Market Forecast, By Product Type
12.14.1. Radical Type
12.14.2. Cationic Type
12.15. Japan Photoinitiators Market Forecast, By Application
12.15.1. Printing ink and packaging
12.15.2. Paints and coatings
12.15.3. Adhesives
12.15.4. Electronic devices
12.15.5. Others
12.16. South Korea Photoinitiators Market Forecast, By Product Type
12.16.1. Radical Type
12.16.2. Cationic Type
12.17. South Korea Photoinitiators Market Forecast, By Application
12.17.1. Printing ink and packaging
12.17.2. Paints and coatings
12.17.3. Adhesives
12.17.4. Electronic devices
12.17.5. Others
12.18. Australia Photoinitiators Market Forecast, By Product Type
12.18.1. Radical Type
12.18.2. Cationic Type
12.19. Australia Photoinitiators Market Forecast, By Application
12.19.1. Printing ink and packaging
12.19.2. Paints and coatings
12.19.3. Adhesives
12.19.4. Electronic devices
12.19.5. Others
12.20. Malaysia Photoinitiators Market Forecast, By Product Type
12.20.1. Radical Type
12.20.2. Cationic Type
12.21. Malaysia Photoinitiators Market Forecast, By Application
12.21.1. Printing ink and packaging
12.21.2. Paints and coatings
12.21.3. Adhesives
12.21.4. Electronic devices
12.21.5. Others
12.22. Indonesia Photoinitiators Market Forecast, By Product Type
12.22.1. Radical Type
12.22.2. Cationic Type
12.23. Indonesia Photoinitiators Market Forecast, By Application
12.23.1. Printing ink and packaging
12.23.2. Paints and coatings
12.23.3. Adhesives
12.23.4. Electronic devices
12.23.5. Others
12.24. Rest of Asia Pacific Photoinitiators Market Forecast, By Product Type
12.24.1. Radical Type
12.24.2. Cationic Type
12.25. Rest of Asia Pacific Photoinitiators Market Forecast, By Application
12.25.1. Printing ink and packaging
12.25.2. Paints and coatings
12.25.3. Adhesives
12.25.4. Electronic devices
12.25.5. Others
12.26. Asia Pacific Photoinitiators Market Attractiveness Analysis
12.26.1. By Product Type
12.26.2. By Application
12.27. PEST Analysis
12.28. Key Trends
12.29. Key Developments

13. Middle East & Africa Photoinitiators Market Analysis
13.1. Key Findings
13.2. Middle East & Africa Photoinitiators Market Overview
13.3. Middle East & Africa Photoinitiators Market Value Share Analysis, By Product Type
13.4. Middle East & Africa Photoinitiators Market Forecast, By Product Type
13.4.1. Radical Type
13.4.2. Cationic Type
13.5. Middle East & Africa Photoinitiators Market Value Share Analysis, By Application
13.6. Middle East & Africa Photoinitiators Market Forecast, By Application
13.6.1. Printing ink and packaging
13.6.2. Paints and coatings
13.6.3. Adhesives
13.6.4. Electronic devices
13.6.5. Others
13.7. Middle East & Africa Photoinitiators Market Value Share Analysis, by Country
13.8. Middle East & Africa Photoinitiators Market Forecast, by Country
13.8.1. GCC
13.8.2. South Africa
13.8.3. Rest of Middle East & Africa
13.9. Middle East & Africa Photoinitiators Market Analysis, by Country
13.10. GCC Photoinitiators Market Forecast, By Product Type
13.10.1. Radical Type
13.10.2. Cationic Type
13.11. GCC Photoinitiators Market Forecast, By Application
13.11.1. Printing ink and packaging
13.11.2. Paints and coatings
13.11.3. Adhesives
13.11.4. Electronic devices
13.11.5. Others
13.12. South Africa Photoinitiators Market Forecast, By Product Type
13.12.1. Radical Type
13.12.2. Cationic Type
13.13. South Africa Photoinitiators Market Forecast, By Application
13.13.1. Printing ink and packaging
13.13.2. Paints and coatings
13.13.3. Adhesives
13.13.4. Electronic devices
13.13.5. Others
13.14. Rest of Middle East & Africa Photoinitiators Market Forecast, By Product Type
13.14.1. Radical Type
13.14.2. Cationic Type
13.15. Rest of Middle East & Africa Photoinitiators Market Forecast, By Application
13.15.1. Printing ink and packaging
13.15.2. Paints and coatings
13.15.3. Adhesives
13.15.4. Electronic devices
13.15.5. Others
13.16. Middle East & Africa Photoinitiators Market Attractiveness Analysis
13.16.1. By Product Type
13.16.2. By Application
13.17. PEST Analysis
13.18. Key Trends
13.19. Key Developments

14. South America Photoinitiators Market Analysis
14.1. Key Findings
14.2. South America Photoinitiators Market Overview
14.3. South America Photoinitiators Market Value Share Analysis, By Product Type
14.4. South America Photoinitiators Market Forecast, By Product Type
14.4.1. Radical Type
14.4.2. Cationic Type
14.5. South America Photoinitiators Market Value Share Analysis, By Application
14.6. South America Photoinitiators Market Forecast, By Application
14.6.1. Printing ink and packaging
14.6.2. Paints and coatings
14.6.3. Adhesives
14.6.4. Electronic devices
14.6.5. Others
14.7. South America Photoinitiators Market Value Share Analysis, by Country
14.8. South America Photoinitiators Market Forecast, by Country
14.8.1. Brazil
14.8.2. Mexico
14.8.3. Argentina
14.8.4. Rest of South America
14.9. South America Photoinitiators Market Analysis, by Country
14.10. Brazil Photoinitiators Market Forecast, By Product Type
14.10.1. Radical Type
14.10.2. Cationic Type
14.11. Brazil Photoinitiators Market Forecast, By Application
14.11.1. Printing ink and packaging
14.11.2. Paints and coatings
14.11.3. Adhesives
14.11.4. Electronic devices
14.11.5. Others
14.12. Mexico Photoinitiators Market Forecast, By Product Type
14.12.1. Radical Type
14.12.2. Cationic Type
14.13. Mexico Photoinitiators Market Forecast, By Application
14.13.1. Printing ink and packaging
14.13.2. Paints and coatings
14.13.3. Adhesives
14.13.4. Electronic devices
14.13.5. Others
14.14. Argentina Photoinitiators Market Forecast, By Product Type
14.14.1. Radical Type
14.14.2. Cationic Type
14.15. Argentina Photoinitiators Market Forecast, By Application
14.15.1. Printing ink and packaging
14.15.2. Paints and coatings
14.15.3. Adhesives
14.15.4. Electronic devices
14.15.5. Others
14.16. Rest of South America Photoinitiators Market Forecast, By Product Type
14.16.1. Radical Type
14.16.2. Cationic Type
14.17. Rest of South America Photoinitiators Market Forecast, By Application
14.17.1. Printing ink and packaging
14.17.2. Paints and coatings
14.17.3. Adhesives
14.17.4. Electronic devices
14.17.5. Others
14.18. South America Photoinitiators Market Attractiveness Analysis
14.18.1. By Product Type
14.18.2. By Application
14.19. PEST Analysis
14.20. Key Trends
14.21. Key Developments

15. Company Profiles
15.1. Market Share Analysis, by Company
15.2. Competition Matrix
15.2.1. Competitive Benchmarking of key players by price, presence, market share, Applications and R&D investment
15.2.2. New Product Launches and Product Enhancements
15.2.3. Market Consolidation
15.2.3.1. M&A by Regions, Investment and Vehicles
15.2.3.2. M&A Key Players, Forward Integration and Backward Integration
15.3. Company Profiles: Key Players
15.3.1. Jingjiang Hongtai Chemical Engineering Co., Ltd
15.3.1.1. Company Overview
15.3.1.2. Financial Overview
15.3.1.3. Product Portfolio
15.3.1.4. Business Strategy
15.3.1.5. Recent Developments
15.3.1.6. Development Footprint
15.3.2. Zhejiang Yangfan New Materials Co., Ltd
15.3.3. Hubei Gurun Technology Co., Ltd
15.3.4. Tianjin Jiuri New Materials
15.3.5. Jinkangtai Chemical
15.3.6. Eutec Chemical Co., Ltd
15.3.7. Hubei Gurun
15.3.8. NewSun
15.3.9. Polynaisse
15.3.10. Kurogane Kasei
15.3.11. IGM Resins
15.3.12. BASF SE
15.3.13. Lambson
15.3.14. Arkema
15.3.15. DBC
15.3.16. Tronly
15.3.17. Arkema
16. Primary Key Insights
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