China's photoinitiator industry is flourishing

The global photoinitiator market is growing rapidly. RadTech China Association statistics show that the global consumption of light curing formula products in 2015 was 533,000 tons; According to Lucintel, the global photoinitiator market reached us $797 million in 2017, with a compound growth rate of 7.2% from 2012 to 2017. UV coatings and ink prospects are good, the market is expanding, the photoinitiator industry will be constantly promoted; It is estimated that the global photoinitiator market will reach us $1.2944 billion in 2023, with a compound growth rate of 8.5% from 2018 to 2023.

UV coating, UV ink, UV adhesive is the main light curing formula products. In 2016, China's output of light curing formula products was 126,600 tons, including 74,400 tons of UV coating, accounting for 58.76%; UV ink output 50,400 tons, accounting for 39.82%; UV adhesive production of 1800 tons, accounting for 1.42%. In terms of output value, the output value of China's light curing formula products in 2016 was 5.917 billion yuan, of which the output value of UV coating was 3.284 billion yuan, accounting for 55.50%; UV oil ink output value of 2.416 billion yuan, accounting for 40.82%; UV adhesive output value of 218 million yuan.

The development of photoinitiator began in western countries. In the past, the production of photoinitiator was monopolized by Ciba and other old European and American enterprises. With the expiration of the patent right of photoinitiator successively, the independent production of domestic enterprises developed rapidly, and the domestic production of photoinitiator developed to a certain scale at the end of the 20th century. According to the statistics of radiation curing Committee, the output of photoinitiator in China reached 33,200 tons in 2017, with a compound growth rate of 10.22% compared with 2010.

In recent years, more and more attention has been paid to industrial pollution control at home and abroad. At present, the environmental protection requirements of various countries are becoming increasingly strict. Manufacturing enterprises are looking for new materials with low pollution and sustainable development, and the demand for new materials solidified with photoinitiator is increasing.

With the improvement of environmental awareness, the relevant departments of the state for the restriction of VOCs emissions issued a series of regulations and policies, clear requirements of 2020 VOCs emissions in 2015 decreased by more than 10%. UV curing performance is excellent, is expected to gradually replace the traditional ink, coating, considerable market prospects.