Photoinitiator future market forecast and analysis

Photoinitiator compounds are important fine organic chemical materials. In the field of radiation curing technology using ultraviolet or visible light or LED (LightEmitting Diode) as the light source, photoinitiator compounds which can generate free radical active species under light irradiation are one of the important components of radiation curing formula. However, traditional photocuring still has some shortcomings, especially the addition of reactive diluents and a small amount of volatile organic solvents into the system, which can damage human health and pollute the environment. Water soluble photoinitiator can replace active diluent with water in the process of use, which is safer and more environmentally friendly. With the continuous improvement of people's requirements for environmental protection, production safety awareness and labor protection, as well as the continuous development of photopolymerization technology, LED, LDI and other low energy consumption, high safety and environmental protection exposure lamp source has become a trend of technology application and development in this field. 

Photoinitiator is the key material in the photocuring system, which is formulated with active diluents, oligomers, auxiliaries and other raw materials and then applied to the end user. Although the amount of photoinitiator is small, it plays an important role in the photocuring system. At present, the main downstream application of photoinitiator is PCB inks, UV coatings, microelectronics industry, UV coating production is rising year by year, 2018 China's UV coating production reached 107,800 tons, year-on-year growth of 21.1%. In the future, with the national control of VOC materials becoming stricter, solvent-based inks and coatings will quickly exit the market, water-based energy consumption is high, the future market will be replaced by light curable materials. At the same time, new downstream applications continue to emerge, the rapid expansion of the light curing market. At present, the market size of photoinitiator corresponding to curing materials in coatings and ink industry is 2.52 billion yuan. It is estimated that the market size of photoinitiator will expand to 15.59 billion yuan by 2028, corresponding to the compound annual growth rate of the industry in the future 20%.