Allied Market Research

2024

Photo Initiator Market

Photo Initiator Market Size, Share, Competitive Landscape and Trend Analysis Report by Product and by Application: : Global Opportunity Analysis and Industry Forecast, 2023-2032

EP : Green/Alternative/ Renewable Energy

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Author's: | Eswara Prasad
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Photo Initiator Market Outlook - 2026

Photo initiator absorbs UV light and converts this light energy into chemical energy, which is in the form of reactive intermediates. It is broadly classified into two types namely free radical and cationic. The photo initiator market is rapidly experiencing growth in the adhesives, printing and packaging, paints and coating, electronic devices, industrial applications, and others. The adhesive film used for coating is relatively thick that gives rapid cure owing to elimination of oxygen. Thus, photo initiator is used for adhesives. UV cured coating on wood, plastic, and paper are widely used due to its long lasting nature, shiny, and smooth finish. Increase in demand for photo initiator market is owing to its features such as higher yield, better abrasion, and stain resistance.

Factor that drive the growth of the photo initiator market include advanced properties such as better finishing quality and high efficiency. It is also eco-friendly, which is an added advantage. However,  the use of the comparatively expensive new cationic systems restrict the growth of the market. Photo initiator contains low toxic materials that prevent its usage in oral care. Usage of photo initiator in manufacturing of automobiles and food packing are few opportunities for the market growth in upcoming years.

The photo initiator market is segmented based on product, application, and region. Based on the product, it is divided into radical type and cationic type. Based on application, the market is classified into printing and packaging, paints and coating, adhesives, electronic devices, and others. Based on region, the photo initiator market is analyzed across North America, Europe and Asia-Pacific.
Some of the main major players operating in the photo initiator market are Polynaisse, IGM Resins, BASF SE, Lambson, Hongtai, Arkema, Tianjin Jiuri New Material Co., Ltd., NEWSUN and PPG Industries, Inc., and Akzo Nobel N.V. Development and growth in the construction business and electronics sector in Asia-Pacific are expected to boost the end use demand for this market in future. Market in North America is expected to grow in the upcoming years.

KEY BENEFITS FOR STAKEHOLDERS:

  • The photo initiator market size has been analyzed across all regions.
  • Porter’s five force analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
  • The report outlines the current market trends and future scenario of the market size to understand the prevailing opportunities and potential investment pockets.
  • Major countries in the region have been mapped according to their individual revenue contribution to the regional market.
  • The key drivers, restraints, and market opportunities and their detailed impact analysis are elucidated in the study.
  • The market analysis covers in-depth information of the major photo initiator industry participants.

Photo Initiator Market Report Highlights

Aspects Details
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By Product
  • Radical Type
  • Cationic Type
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By Application:
  • Printing ink and packaging
  • Paints and coatings
  • Adhesives
  • Electronic devices
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
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Key Market Players

PPG Industries, Inc., Hongtai, Polynaisse, IGM Resins, Tianjin Jiuri New Material Co., Ltd., Akzo Nobel N.V., Lambson, NEWSUN, Arkema, BASF SE

Key Market Players
Other Key Market Players

Environ Speciality Chemicals Ltd. (India), ADEKA Corporation (Japan)

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Photo Initiator Market

Global Opportunity Analysis and Industry Forecast, 2023-2032