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Imaging Chemicals Market Size Forecast: $36.5 Billion by 2029 | Global Outlook
Imaging Chemicals
What Is the Projected Market Size Valuation of the Imaging Chemicals Market by 2025?
In the past few years, the size of the imaging chemicals market has been witnessing steady growth. We can expect its growth to rise from $26.63 billion in 2024 to $27.93 billion in 2025, yielding a compound annual growth rate (CAGR) of 4.9%. Factors contributing to the growth in the historic period include the increased use of photography by consumers, the popularity of graphic arts and printing, adoption of medical and industrial imaging applications, a high demand for excellent print quality, and the enthusiasm for film-based cinematography.
What Is the Estimated Market Growth Value for the Imaging Chemicals Industry in 2029?
Expectations are high for robust expansion in the imaging chemicals market size over the coming years. The estimated growth pegs it to reach $36.5 billion by 2029, registering a compound annual growth rate (CAGR) of 6.9%. The projected growth during the forecast period is mainly due to factors such as printed electronics, surging demand for security imaging, adoption of sustainable solutions, increased reliance on bio-based and renewable resources, and functional imaging materials. Major trends that will define the future of this market include the digital revolution in imaging, the advent of advanced photographic printing technologies, customization tailored to specific applications, smart imaging materials, and partnerships geared towards innovation.
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What Are the Growth Drivers and Opportunities in the Imaging Chemicals Market?
The escalating instances of cancer and brain-related diseases are major contributing factors to the growth of the imaging chemicals market. The uncontrolled proliferation of atypical cells characterizes cancer, one of several severe illnesses, while brain disorders are maladies affecting the central and peripheral nervous systems. The mounting cases of these two diseases are instigating the expansion of imaging chemicals, offering benefits like real-time monitoring, determining the exact stage and location of cancer which assist in guiding surgical procedures and other cancer therapies, coupled with visualizing cellular activity. As reported by the EU Science Hub, a Belgium-based European Commission's Joint Research Centre website, in October 2023, there was a 2.3% surge in new cancer cases from 2020, reaching 2.74 million in 2022. Also, cancer mortality saw a rise of 2.4% between 2010 and 2020. As per the World Federation of Neurology, a UK association consisting of national neurological societies, in October 2023, brain diseases stand as the second largest mortal cause globally and the topmost cause of disability. Hence, the rising instances of cancer and brain-related diseases are projected to boost the growth of the imaging chemicals market.
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What Are the Primary Segments Covered in the Global Imaging Chemicals Market Report?
The imaging chemicals market covered in this report is segmented -
1) By Product Type: Imaging Agents And Toners, Printing Inks, Image Developers
2) By Application: Medical Diagnostics, Packaging And Printing, Textile Processing, Mining, Other Applications
Subsegments:
1) By Imaging Agents And Toners: Liquid Toners, Powder Toners, Imaging Agents For Medical Imaging
2) By Printing Inks: Solvent-Based Inks, Water-Based Inks, UV-Curable Inks, Eco-Friendly Inks
3) By Image Developers: Photographic Developers, Digital Imaging Developers, Chemical Developers For X-Ray Imaging
What Are the Top Growth Trends in the Imaging Chemicals Market?
The imaging chemicals market is seeing an upward trend in technological development. Leading market players are inventing cutting-edge technologies to maintain their market positions. For instance, Guerbet Group, a company located in France that specializes in pharmaceuticals and medical imaging, released a new injection named Elucirem (gadopiclenol) in February 2023. This new generation GBCA from Guerbet offers the highest relaxivity in the MRI category and is advisable for both adults and children over two years old. The necessity for gadolinium dosage is halved with Elucirem, addressing healthcare practitioners' concern about gadolinium exposure. Elucirem (Gadopiclenol) injection enables the detection and visualization of abnormalities in blood vessels in the central nervous system and other parts of the body, including the head, neck, chest, stomach, pelvis, and musculoskeletal system.
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Which Companies Are Shaping the Future of the Imaging Chemicals Market?
Major companies operating in the imaging chemicals market include Eastman Kodak Company, Agfa-Gevaert NV, Altana AG, BASF SE, Clariant Chemical Company, DIC Corporation, Dow Chemical Company, Flint Group S.A., FUJIFILM Holdings Corporation, Hubergroup Deutschland GmbH, Kao Corporation, Kodak Alaris Inc., Qingdao Scienoc Chemical Co., Sakata Inx Corp., Siegwerk Druckfarben AG & Co. KGaA, T&K TOKA Corporation, Toyo Ink SC Holdings Co. Ltd., Wikoff Color Corporation, Dymax Corporation, Evonik Industries AG, Kemira Oyj, Merck Co. & KGaA
Which Region Holds the Largest Market Share in the Imaging Chemicals Industry?
Asia-Pacific was the largest region in the imaging chemicals market in 2024. The regions covered in the imaging chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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