A photoinitiator Market is a molecule or compounds that creates reactive species such as cations, free radicals, or anions when exposed to visible or UV radiation. Furthermore, photoinitiators are very useful compounds that when added to a formulation convert light energy into chemical energy and are usually used in sealants and adhesives, wood coatings, powder coatings, pigment coatings, clear coatings, inks and composites. Their applications and versatility of attributes make them highly useful products

Market Dynamic – Global Photoinitiator Market

Primary growth factors such as rising growth opportunities of photoinitiators owing to demand from several end-use industries, demand for eco-friendly substitute for VOCs and improved and better properties of photoinitiators are accredited to the growth of the market. Besides, growing significance of photoinitiators for applications in the dental industry and in biomedical applications, surge in the demand for water-soluble additives and rapid growth of UV curable printing inks are anticipated to impel growth of the market in the near future. However, safety concerns and high costs and finishing defects due to uneven exposure to light are some of the major restraining factors that could hamper the market growth.

COVID-19 Impact on Photoinitiator Market Report

The exclusive COVID 19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the Photoinitiator market. In addition, complete analysis of changes on Photoinitiator market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. the COVID-19 pandemic has affected the global photoinitiators market and manufacturers on a slight negative level in the early pandemic period. This is owing to the decreased production of photoinitiators as several raw material manufacturing plants or facilities were closed.

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Photoinitiator Market Segmental Overview

The study analyses global photoinitiator market based on technology, application and geography. 

Photoinitiator Market by Technology

The photoinitiator market can be categorized by technology into two main types:

1. Free-radical type photoinitiators: Free-radical type photoinitiators are the most widely used type of photoinitiators. They work by generating free radicals upon exposure to UV or visible light, which then initiate the polymerization reaction. Some common free-radical type photoinitiators include benzophenone, acetophenone, and camphorquinone.
2. Cationic type photoinitiators: Cationic type photoinitiators work by generating cations upon exposure to UV or visible light, which then initiate the polymerization reaction. They are often used in combination with epoxy or vinyl monomers. Some common cationic type photoinitiators include triarylsulfonium hexafluorophosphate, diaryliodonium hexafluoroantimonate, and triarylsulfonium tetrafluoroborate.

Overall, the choice of photoinitiator technology depends on the specific application and desired properties of the final product.

Photoinitiator Market by Application

The photoinitiator market can be categorized by application into several types:

1. Printing Inks: Photoinitiators are widely used in printing inks for various applications, such as packaging, labels, and advertising. The most common types of photoinitiators used in printing inks include benzophenone, 2,4,6-trimethylbenzoyl-diphenyl-phosphine oxide (TPO), and 2-hydroxy-2-methylpropiophenone (HMPP).
2. Adhesives: Photoinitiators are also used in adhesive formulations for various applications, such as electronics, medical devices, and automotive. Commonly used photoinitiators in adhesives include acylphosphine oxides, bisacylphosphine oxides, and benzophenone derivatives.
3. Coatings: Photoinitiators are used in UV-curable coatings for various applications, such as wood, metal, plastic, and automotive. Some commonly used photoinitiators in coatings include benzophenone, 2,4,6-trimethylbenzoyl-diphenyl-phosphine oxide (TPO), and Irgacure 819.
4. 3D Printing: Photoinitiators are also widely used in 3D printing for various applications, such as prototyping, tooling, and manufacturing. Commonly used photoinitiators in 3D printing include acylphosphine oxides, bisacylphosphine oxides, and Irgacure 819.

Overall, the choice of photoinitiator application depends on the specific requirements of the final product, such as curing speed, mechanical properties, and chemical resistance.

Photoinitiator Market Key PlayersTop of Form

The major key players of market includes IGM Resins (Netherland), Arkema (France), BASF SE (Germany),  Double Bond Chemical (Taiwan), Eutec Chemical Co., Ltd (China), RAHN AG (Switzerland), Jingjiang Hongtai Chemical Engineering Co., Ltd (China), Jiuri Chemical (China), NewSun Polymer Technology Co., Ltd (China) Polynaisse Resources Chemicals Co Ltd (China), Changzhou Tronly New Electronic Materials Co., ltd (China), Zhejiang Yangfan New Materials Co., Ltd (China), Anyang General Chemical Co., Ltd (China) and Environ Speciality Chemicals Ltd (India) among others.

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