Jun 28, 2021   SOURCE: BusinessWire

Global Photoinitiator Market Analysis 2021 with COVID-19 Impact Analysis: Ink is the Fastest Growing End Use Industry in Terms of Value - ResearchAndMarkets.com

The "Global Photoinitiator Market with COVID-19 Impact Analysis by Type (Free Radical & Cationic), End-use Industry (Adhesives, Ink, Coating), and Region (North America, Europe, APAC, Middle East & Africa, South America) - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global photoinitiator market size is projected to grow from USD 1.6 billion in 2021 to USD 2.6 billion by 2026, at a CAGR of 10.3% between 2021 and 2026.

Photoinitiators are demanded in various applications and multiple end-use industries including adhesives, ink, coating, and others; due to their advantages properties such as resistance to various chemicals, and excellent curability. However, the global pandemic disease COVID-19 has disrupted the operations of various end-use industries which has decreased the demand for photoinitiators in 2020.

Cationic photoinitiators are expected to grow with a significant growth rate in the upcoming years. Cationic curing is comparatively small but is growing in the UV curing industry. This is mainly due to inherently expensive materials used in cationic curing compared to the free radical system. However, it brings new parameters and different chemistry to a wider scope and various applications for the UV curing industry.

Photoinitiators are widely used in the formation of inks, as there are many advantages that UV curable ink offer over normal ink. In the printing ink and wood components industries, UV-cured inks can be used to speed up their processes. Most print processes apply printing inks based on UV/EB technology.

The most important characteristic, which is common to these inks and which distinguishes them from other ink systems, is their ability to change almost instantaneously from the fluid phase to a highly crosslinked solid phase. This phase change is enabled by means of a chemical reaction initiated by photoinitiators after exposure to UV light.

The Asia Pacific market for UV curable resins and formulated products is segmented into China, Japan, India, Korea, and Rest of APAC. It is one of the world's fastest-growing markets for photoinitiators.

The market is projected to register the highest CAGR in the next five years. The region offers significant commercial opportunities for the growth of photoinitiators and their end-use industries.

Evolving environmental & regulatory scenarios, increasing consumer awareness (including sensitivity to health and safety), and pressure from flagship companies that wish to improve the performance of their supply chain in terms of environmental compliance, have led to the increasing demand for UV curable resins and photoinitiators in the region.

Due to COVID-19, numerous industries and companies have halted their production sites across various countries that has led to reduced demand for photoinitiators in APAC countries. The recovery in the end-use industries with restoration in the supply chain would drive the photoinitiators demand during the forecast period.

The report provides a comprehensive analysis of the companies listed below:

  • IGM Resins (The Netherlands)
  • Zhejiang Yangfan Material Co., Ltd. (China)
  • Tianjin Jiuri New Materials Co., Ltd. (China)
  • ADEKA Corporation (Japan)
  • Lambson Ltd. (UK)
  • Evonik Industries AG (Germany)
  • Rahn AG (Switzerland)
  • Changzhou Tronly New Electronic Material Co., Ltd. (China)
  • TCI Chemicals (Japan)
  • Environ Speciality Chemicals (India) 

Key Topics Covered:

  • Research Methodology
  • Executive Summary
  • Premium Insights
  • Market Overview
  • Photoinitiator Market, by Type
  • Photoinitiator Market, by End-Use Industry
  • Photoinitiator Market, by Region
  • Competitive Landscape
  • Company Profiles 

For more information about this report visit https://www.researchandmarkets.com/r/tqwr4t

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