Lucintel Forecasts Photoinitiator Market to Reach $1.6 Billion by 2027

According to the recent study the photoinitiator market is projected to reach an estimated $1.6 billion by 2027 from $1.0 billion in 2021, at a CAGR of 8.2% from 2021 to 2027. Growth in this market is primarily driven by its excellent properties like relative stability and range of light absorption.
Browse 93 figures / charts and 69 tables in this 163 -page report to understand trends, opportunities and forecast in photoinitiator market by application (paints, inks, and, adhesives), product type (free radical type and cationic type), and region (North America, Europe, Asia Pacific, and Rest of the World).
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"Paint market is expected to remain the largest segment during the forecast period."
Based on application, the photoinitiator market is segmented into paints, inks, and, adhesives. Lucintel forecasts that the paints is expected to witness the largest segment over the forecast period due to its increasing demand for UV cured wood coatings, automotive coatings, and powder coatings and 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, the free radical type segment is expected to remain the largest product type"
Based on product type, the free radical type segment is expected to witness the largest 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 will dominate the photoinitiator market in near future"
Asia Pacific is expected to be the largest region during the forecast period 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.
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Major players of photoinitiator market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. AkzoNobel, PPG Industries, DIC Colour and Comfort, Siegwerk, Dymax, Master Bond, Inc are among the major photoinitiator providers.
This unique 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 click on this link https://www.lucintel.com/photoinitiator-market.aspx or helpdesk@lucintel.com
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