Photoinitiators Market Size to be Valued at USD 4.2 Billion By 2033

Introduction

The global Photoinitiators Market is poised for significant expansion, projected to grow from USD 1.85 Billion in 2023 to around USD 4.2 Billion by 2033, with a compound annual growth rate (CAGR) of 9.4% during the forecast period. This robust growth can be attributed to several key factors driving market demand, including the increasing adoption of UV curing technologies across various industries such as printing, packaging, and electronics. The market’s expansion is further supported by the rising need for efficient and fast-curing solutions in high-throughput environments like automotive coatings and 3D printing applications, where photoinitiators play a crucial role.

Moreover, the market is witnessing a shift towards eco-friendly and sustainable practices, which has spurred the development of new, environmentally safe photoinitiators that comply with stricter regulatory standards against volatile organic compounds (VOCs). These advancements are not only enhancing the performance characteristics of photoinitiators but also aligning them with the sustainability goals of industries worldwide.

Significant opportunities lie ahead in the Asia-Pacific region, which is expected to experience the highest growth rate, driven by rapid industrialization and the expansion of manufacturing sectors in economies such as China and India. This region’s market growth is further augmented by governmental policies promoting eco-friendly technologies and the growing middle-class population, increasing the demand for consumer goods and packaging solutions that utilize photoinitiators.

The global photoinitiators market presents numerous opportunities for growth and expansion, driven by technological advancements, regulatory shifts, and increasing market demand across various end-use industries. Companies active in this market are continuously innovating and expanding their product offerings to meet the evolving needs of their customers and to capitalize on emerging market opportunities.

Key Takeaways

• Photoinitiators Market size is expected to be worth around USD 4.2 billion by 2033, from USD 1.85 billion in 2023, growing at a CAGR of 9.4%.
• Free Radical photoinitiators held a dominant market position, capturing more than a 73.4% share.
• UV Photoinitiators held a dominant market position, capturing more than an 81.2% share.
• The coating held a dominant market position in the photoinitiators market, capturing more than a 33.2% share.
• The printing Ink and Packaging sector held a dominant market position within the photoinitiators market, capturing more than a 44.5% share.
• Asia-Pacific region emerged as the dominant market for photoinitiators, capturing approximately 35% of the global market share.

Photoinitiators Statistics

• It was investigated how well a photoinitiator worked to polymerize diacrylate monomer when 3% (w/w) of triethyl amine, a tertiary amine, was used as a synergist additive.
• Differential scanning photocalorimetry (photo-DSC) was used to examine the effects of temperature in the range of 30–90°C at 3% (w/w) photoinitiator concentration.
• At 30°C, 3% (w/w) of photoinitiator was the ideal concentration to achieve maximal conversion. At higher temperatures, there was no thermal polymerization.
• Using a DuPont 930 irradiation unit and a double head differential calorimeter 912 calibrated with an indium metal standard, differential scanning photocalorimetry was carried out.
• Since the temperature during photopolymerization did not rise above 90 °C, we concluded that there was no need to investigate the behavior of the monomers at higher temperatures.
• At 30 °C, a range of photoinitiator concentrations, from 0.5 to 3.5%, were investigated.
• The composite containing 0.5% photoinitiators produced more internal and surface gaps.

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Emerging Trends

• Emerging trends in the photoinitiators market highlight several advancements and shifts shaping this sector’s future. One notable trend is the enhanced performance of UV-cured coating photoinitiators used in electronic assemblies, reflecting ongoing improvements in the effectiveness and efficiency of these materials. Additionally, significant strides have been made in light cure adhesive technologies, expanding their applicability and performance across various industrial applications.
• Another critical trend is the development of photoinitiators that are specifically designed to meet the evolving demands of the medical devices sector. These advancements are driven by the need for materials that offer both high performance and compliance with stringent health and safety regulations.
• The focus on sustainability is also pushing the industry towards the use of eco-friendly and safer photoinitiator formulations. This trend is partly driven by stricter environmental regulations and a general shift in consumer preferences towards sustainable and less harmful products.
• Furthermore, the market is experiencing a push towards innovation in photopolymerization technologies. This involves the development of new photoinitiators that can be activated by visible light, expanding the potential for applications in daylight curing and broadening the usability of photoinitiative systems in more diverse conditions.

Use Cases

• Coatings: Photoinitiators are integral to the production of UV-curable coatings, which are valued for their rapid curing times and robust final properties. These coatings are employed in a variety of sectors, including automotive, industrial, and consumer electronics, where they contribute to the durability and aesthetic quality of the finished products.
• Inks: In the printing industry, photoinitiators are used to enhance the drying speeds of inks, which is particularly beneficial in high-throughput printing operations. This application spans various printing methods, including digital and 3D printing, where quick drying is essential to maintain efficiency and print quality.
• Adhesives: UV-curable adhesives that utilize photoinitiators are chosen for applications requiring fast bonding and high strength. These adhesives are used in industries such as electronics, where they are critical in the assembly and packaging of components.
• 3D Printing: The role of photoinitiators in 3D printing is growing, particularly in the context of printing with materials that require light to cure. They are essential for producing detailed, dimensionally accurate objects quickly and efficiently.
• Medical Applications: In the medical field, photoinitiators are used in the production of biocompatible materials in dental and medical devices. The controlled curing facilitated by photoinitiators is crucial for meeting the stringent standards required in medical applications.

Recent Development

ADEKA Corporation, a prominent player in the photoinitiators market, is known for its innovative contributions to the sector. The company specializes in the development and production of both photo-radical and photo-cationic initiators, which are crucial for UV-curable applications. Their products are particularly noted for their high sensitivity and broad photo-sensitive range, making them suitable for various industrial applications such as coatings and adhesives. ADEKA’s advancements in photoinitiator technologies play a vital role in enhancing the performance of UV-curable coatings, which are used across automotive, electronics, and packaging industries for their efficiency and environmental benefits.

Arkema, a leader in specialty materials, has enhanced its offerings in the photoinitiators sector through strategic acquisitions like Lambson, known for its advanced photoinitiators for UV curing. This move has expanded Arkema’s product range within its Sartomer business, which is pivotal in UV/LED curing technologies utilized across various industries including 3D printing, electronics, and coatings. By integrating these new capabilities, Arkema continues to strengthen its position in fast-growing markets and commits to advancing sustainable technology solutions in photoinitiators.

BASF SE, previously engaged in the photoinitiator sector, divested its global photoinitiator business to IGM Resins in 2016. This strategic move allowed BASF to concentrate more effectively on its core businesses within the resin and additive technologies specifically targeted at the radiation-curing markets. Despite this divestiture, BASF continues to serve the electronics industry with high-performance photoinitiators, highlighting its commitment to meeting the specialized needs of this sector. This decision aligns with BASF’s broader focus on enhancing its product offerings in areas that complement its strategic goals.

Changzhou Tronly New Electronic Materials Co. Ltd. is recognized as a significant player in the photoinitiators sector, providing a range of specialized chemical materials essential for the UV curing process. The company focuses on producing photoinitiators, including photosensitizers and photo Acid Generators, which are crucial for the advanced electronic materials industry. Founded in 1997 and based in Changzhou, China, Tronly has established itself as a key supplier in the global photoinitiators market due to its commitment to innovation and quality in the UV curing technology field.

DBC (Double Bond Chemical Ind., Co. Ltd.) is recognized in the photoinitiators market for its comprehensive range of products named DOUBLECURE, which cater to various applications in UV curing processes. These products are widely utilized in industries that require efficient curing technologies such as coatings, printing inks, and adhesives. DBC emphasizes innovation in its offerings, focusing on enhancing the performance and environmental compatibility of its photoinitiators to meet the evolving demands of the global market.

Environ Speciality Chemicals is recognized within the photoinitiator market, primarily for their offerings in free radical and cationic photoinitiators. These products are crucial in various applications such as adhesives, coatings, and inks, particularly valued for their effective curing properties. Environ Speciality Chemicals contributes to the market with innovations aimed at enhancing performance while ensuring environmental compliance, aligning with industry demands for more sustainable and efficient materials.

Eutec Chemical Co. Ltd. is a significant player in the photoinitiators market, known for its specialization in the development and manufacturing of photoinitiators used in various industrial applications. The company plays a critical role in the market, especially by catering to the needs for advanced chemical solutions that enhance the efficiency of UV-curable coatings, inks, and adhesives. Eutec’s participation in the market helps meet the demand for more environmentally friendly and effective photoinitiating systems, which are crucial for the performance of UV-curable products across a range of industries.

Evonik Industries AG is a key player in the photoinitiators sector, primarily focusing on innovative solutions for the photovoltaic industry. They have showcased their capabilities at major international tradeshows, such as the SNEC PV Power Expo in Shanghai, introducing specialty additive solutions that enhance the manufacturing and efficiency of solar modules. Evonik’s product lineup, including the TEGO Surten E series, plays a crucial role in the wire saw cutting of silicon ingots, which is vital for producing high-quality photovoltaic cells. This focus on advanced materials and processes underscores their commitment to supporting the renewable energy sector and enhancing the performance and sustainability of photovoltaic systems.

Hubei Gurun Technology Co. Ltd. is a notable player in the photoinitiators market, recognized for its significant contributions and steady market performance. Specializing in the development and production of photoinitiators used in various industrial applications, the company leverages advanced technologies to enhance the efficiency and effectiveness of UV-curable systems. Hubei Gurun’s products are integral in industries that rely on quick-setting adhesives, coatings, and inks, reflecting the company’s strategic focus on innovation and quality improvement within the photoinitiators sector.

IGM Resins is a prominent global player in the photoinitiators market, renowned for its comprehensive product offerings and technological innovations. The company has significantly expanded its production capacity, including establishing a new state-of-the-art facility in Anqing, China, designed to produce over ten thousand metric tons of photoinitiators annually. This expansion caters to the increasing global demand and introduces new products tailored to market trends like LED curing and low migration UV technology. Additionally, IGM Resins has enhanced its existing facility in Mortara, Italy, boosting its output by 25%. These strategic expansions help IGM Resins maintain its leadership in the market by ensuring a reliable supply of high-quality photoinitiators.

Jingjiang Hongtai Chemical Engineering Co. Ltd., established in 1979, is a significant player in the photoinitiators sector, specializing in the production and supply of various photoinitiators like Photoinitiator-1173, 651, and 184. The company is recognized for its focus on high-quality products and services, catering primarily to the coatings and plastics industries. Operating from Jingcheng, Jiangsu, China, Jingjiang Hongtai has established itself as a key supplier in the global market, contributing to advancements in photoinitiator technologies and applications across multiple industries.

Kurogane Kasei has established itself as a notable player in the photoinitiators market, producing types that serve a range of applications. As of recent years, Kurogane Kasei has been actively involved in the sales and manufacturing of photoinitiators, contributing to the industry with its innovative offerings. The company’s photoinitiators are utilized in various sectors, reflecting its strategic position within the global market. Their consistent performance and market participation underline their importance in the photoinitiators sector, helping to drive advancements in UV curing technologies.

Lambson, now a part of Arkema after its acquisition, has significantly bolstered Arkema’s offerings in the photoinitiators market. Specializing in the development and supply of photoinitiators, Lambson has been integrated into Arkema’s Sartomer business, enhancing its capabilities in UV curing technologies. This strategic move supports Arkema’s growth in advanced markets such as 3D printing, digital inks, and high-performance coatings, where cutting-edge photoinitiator solutions are crucial. Lambson’s expertise not only complements Sartomer’s existing product range but also aligns with the push towards more sustainable, solvent-free curing solutions.

NewSun Polymer Technology is actively engaged in the photoinitiators sector, where it has developed a robust lineup of photoinitiator products. The company has seen notable business growth, offering a variety of photoinitiators that cater to diverse market needs. Recently, NewSun has been focusing on expanding its market share by enhancing product quality and performance, evidenced by its steady sales and revenue growth between 2018 and 2023. This strategic focus on product development and market expansion underlines NewSun’s commitment to maintaining a competitive edge in the photoinitiators market.

The term “Polonaise” does not appear to be directly related to the photoinitiators sector based on available data. It seems there may be a misunderstanding or a miscommunication regarding the use of “Polonaise” in the context of photoinitiators. Typically, a polonaise refers to a type of dance or musical form and does not have a recognized application or meaning within the chemical or photoinitiator sectors. For accurate and detailed information related to photoinitiators, it might be helpful to look into specific chemical names or properties associated with UV curing processes and materials science.

Rahn AG is a prominent player in the photoinitiators market, specializing in the development and distribution of innovative UV curing solutions under their GENOCURE product line. Their offerings are diverse, ranging from 3D printing applications to adhesives and coatings on plastics. Rahn AG’s products are known for their ability to enhance the performance and durability of UV-curable systems. The company’s commitment to advancing UV technology is evident in their active involvement in industry innovations and product development, ensuring that their photoinitiators meet the evolving needs of various high-performance industrial applications.

TCI Chemicals is actively engaged in the photoinitiators sector, focusing on the development and supply of various types of photoinitiators used primarily in UV curing applications. Their product range includes both free radical and cationic photoinitiators, catering to industries that require quick-setting materials such as coatings, inks, and adhesives. TCI Chemicals leverages its expertise to produce high-performance photoinitiators that enhance the speed and quality of UV curing processes, making significant contributions to the efficiency of manufacturing and production methods in multiple sectors.

Tianjin Jiuri New Materials Co. Ltd. established in 1998, is recognized as the world’s largest photoinitiator manufacturer. The company specializes in the research, development, and production of photoinitiators, which are crucial components in UV curing technologies used across various industries, including coatings, inks, and adhesives. Jiuri New Materials has developed a strong reputation for delivering high-quality, effective photoinitiator solutions that address industry-specific challenges such as low odor and migration, surface curing issues, and yellowing in applications. This commitment to innovation and quality makes Tianjin Jiuri a key player in the photoinitiators market globally.

Changzhou Tronly New Electronic Materials Co. Ltd. is a prominent player in the photoinitiator market, focusing on the research, development, and manufacture of specialized electronic materials. The company’s product range includes various types of photoinitiators such as bisimidazole and oxime ester, which are crucial for applications in making PCBs and LCDs. Additionally, Tronly produces photoresist resins and other materials used in semiconductor packaging. Their products are essential for enhancing the performance of UV-curable inks, coatings, and adhesives across diverse industries, demonstrating Tronly’s integral role in advancing photoinitiator technology and its applications.

Zhejiang Yangfan New Materials Co. Ltd. is a prominent player in the photoinitiators market, primarily engaged in the research, development, production, and sale of photoinitiators and related chemical compounds. Established in 2002 and based in Hangzhou, China, the company has carved a niche in producing photoinitiators used in various light-curing applications across industries such as printing inks, coatings, and adhesives. Zhejiang Yangfan’s expertise in the field is reflected in its continuous innovation and adaptation to market demands, ensuring its photoinitiators are integral to the development of efficient, high-performance UV-curable systems.

Conclusion

In conclusion, the photoinitiators market is poised for substantial growth, driven by advancements in UV curing technologies and increasing applications across diverse industries such as printing, coatings, and adhesives. The demand for photoinitiators is fueled by their efficiency in curing processes, contributing to faster production cycles and enhanced product performance. Additionally, the shift towards sustainable solutions has led to innovations in eco-friendly photoinitiator formulations, aligning with global environmental regulations and consumer preferences. As industries continue to embrace advanced manufacturing processes and green chemistry, the role of photoinitiators is set to become even more pivotal, presenting significant opportunities for market expansion and technological development. This market’s evolution will likely continue to offer valuable solutions to modern industrial challenges, marking it as a critical area for continued research and investment.

Sources:

• https://www.researchgate.net/publication/226369906_The_influence_of_temperature_and_photoinitiator_concentration_on_photoinitiated_polymerization_of_diacrylate_monomer
• https://pmc.ncbi.nlm.nih.gov/articles/PMC4054066/