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 global photoinitiator
market is expected to reach an estimated $1.4 billion by 2024 and it is
forecast to grow at a CAGR of 7.1% from 2019 to 2024. The major growth drivers
for this market are increasing demand of photoinitiator due to its excellent
properties like relative stability and range of light absorption.
In this market, UV cured coatings, UV cured
inks, and UV cured adhesives are the major applications of photoinitiator. Lucintel
forecasts that UV cured coatings is expected to remain the largest application
due to its increasing demand in wood coatings, automotive coatings, and powder
coatings. UV cured 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. AkzoNobel, PPG Industries, DIC Colour and
Comfort, Siegwerk, Dymax, Master Bond , Inc. 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
entitled “Growth
Opportunities in the Global Photoinitiator Market 2019-2024: 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 2013 – 2024]:
- Paints
- Inks
- Adhesives
By Product Type [Volume (M lbs) and $M
shipment analysis for 2013 – 2024]:
- Free Radical Type
- Cationic Type
By Region Volume [Volume (M lbs) and $M shipment
analysis for 2013 – 2024]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
This
200-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 email us at helpdesk@lucintel.com.
Lucintel offerings include chemical
market research reports, chemical
industry analysis report, strategic
growth consulting, market research due
diligence and business
strategy consulting.
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?
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