DALLAS, May 9, 2019 /PRNewswire/ -- 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 grow at a CAGR of 7.1% from 2019 to 2024. The major drivers in this market are increasing demand of photoinitiator due to its excellent properties like relative stability and range of light absorption.
Browse 92 market data tables and 102 figures spread through 200 pages and in-depth TOC on "Global Photoinitiator market" at https://www.lucintel.com/photoinitiator-market.aspx
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.
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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.
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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 photoinitiator industry, include Improved performance of UV cured coating photoinitiators in the electronic assembly and Advancement in Light Cure Adhesive Technology.
Some of the photoinitiators companies profiled in this report are AkzoNobel, PPG Industries, DIC Colour and Comfort, Siegwerk, Dymax, Master Bond , Inc. and others. Lucintel, has analyzed and forecasted for the global Photoinitiator market by application, product type, and region in a comprehensive research report entitled "Photoinitiator Market Report: Trends, Forecast and Competitive Analysis".
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