Lucintel’s latest market report analyzed that photoinitiator provides attractive opportunities in UV cured coatings, inks, and, adhesives. The photoinitiator market is expected to reach $1.6 billion by 2027 with a CAGR of 8.2%. In this market, paint is the largest segment by application, whereas free radical type is largest by product type. The improved performance of UV cured coating photoinitiators in the electronic assembly and advancement in light cure adhesive technology provides strategic growth path in this market.
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Based on application, the photoinitiator market is segmented into paints, inks, and, adhesives. The paints segment is accounted for the largest share of the market in 2021 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.
Browse in-depth TOC on “Photoinitiator Market”
69 – Tables
98 – Figures
163 – Pages
The photoinitiator market is marked by the presence of several big and small players. Some of the prominent players offering photoinitiator include AkzoNobel, PPG Industries, DIC Colour and Comfort, Siegwerk, Dymax, Master Bond, Inc
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