Photoinitiator Market Size to Worth USD 390.54 Million by 2034 : Say Towards Chem and Materials

Yahoo

16 hours ago

According to Towards Chem and Materials consultants, the global photoinitiator market size was reached at USD 147.19 million in 2024 and is expected to be worth around USD 390.54 million by 2034, growing at a compound annual growth rate (CAGR) of 10.25% over the forecast period from 2025 to 2034.
Ottawa, July 22, 2025 (GLOBE NEWSWIRE) -- According to the new market research report, the global photoinitiator market size is reached at USD 162.28 million in 2025 and is expected to exceed around USD 390.54 million by 2034, A study published by Towards chem and Materials a sister firm of Precedence Research.
Get All the Details in Our Solutions –Download Sample: https://www.towardschemandmaterials.com/download-sample/5647
The market is seeing growth due to increased adoption of UV-curable technologies in industries like printing, electronics and packaging. Demand for low-emission coatings that are eco-friendly and innovations in LED curing systems are also helping to propel market growth.
Photoinitiator are chemicals that can produce reactive species upon exposure to UV or visible light that initiate polymerization of coating, inks and adhesives and 3D printing resins. The photoinitiator market is growing steadily, in part due to signed demand from industry for UV curable formulations for its faster curing rates, enhanced product performance and low VOCs. The booming growth in manufacturing packaging, electronics, and automobiles is driving demand for UV and LED curable coatings; with on-going improvements for photoinitiator designed for use with LEDs promoting greater market penetration.
Current environmental rules favouring eco-friendly materials and the continuing development of photo-polymerization technology is also assisting with their acceptance into many various manufacturing and customer-oriented processes. Photoinitiator continue to position themselves into prominence as a necessary component in many modern light-induced curing systems.
Photoinitiator Market Key Takeaways
The North America photoinitiator market size was valued at USD 52.64 billion in 2024 and is expected to hit around USD 139.85 million by 2034, growing at a compound annual growth rate (CAGR) of 10.26% over the forecast period from 2025 to 2034.
The North America accounted for an estimated 35.76% revenue share in 2024. The growth of domestic production and leading manufacturers fuels the growth of the market.
The Asia Pacific is expected to have significant growth in the market in the forecast period. The growth of the market is driven by rapid industrialization and urbanization.
By type, the free radical segment dominated the market share of 74.56% in 2024. The large demand from industries due to their properties, like speed, energy efficiency, drives the growth.
By type, the cationic segment is expected to grow significantly in the market during the forecast period. The growing demand due to its applications, such as food packaging, dental materials, medical devices, and electronic materials, drives the growth.
By end use, the coatings segment led the global market with a revenue share of 38.52% in 2024.The growing applications for protection and appearance drive the growth.
By end use, the inks segment is expected to grow in the forecast period. The growing demand from industries like packaging drives the growth.
Explore Strategic Figures & Forecasts – Access the Databook | Immediate Delivery Available: https://www.towardschemandmaterials.com/download-databook/5647
Photoinitiator Market Report Scope
Report Attribute
Details
Market size value in 2025
USD 162.28 million
Revenue forecast in 2034
USD 390.54 million
Growth rate
CAGR of 10.25% from 2025 to 2034
Base year for estimation
2024
Historical data
2019 - 2024
Forecast period
2025 - 2034
Quantitative units
Volume in kilotons, revenue in USD million, and CAGR from 2025 to 2030
Segments covered
Type, end use, region
Regional scope
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa
Country scope
U.S.; Canada; Mexico; UK; Germany; France; Italy; Spain; China; India; Japan; South Korea
Key companies profiled
IGM Resins; Lambson Ltd (part of Aditya Birla Group); Arkema S.A.; BASF SE; Tronly New Electronic Materials Co., Ltd.; Tianjin Jiuri New Materials Co., Ltd.; ADEKA Corporation; Evonik Industries AG; Rahul Photoinitiators Pvt. Ltd.; Eutec Chemical Co., Ltd.
Photoinitiator Market Major Trends?
Continuing Movement to LED-Curable Photoinitiator- Demand is growing for photoinitiator tuned to LED wavelengths as LED curing continues to evolve to be more energy efficient and sustainable than the traditional use of UV lamps. Manufacturers are investing to design next-generation molecules with response to LED light sources to further optimize curing performance at lower energy.
Increased Utilization in 3D Printing and Additive Manufacturing- Photoinitiator are critical in resin-based 3D printing. The adoption of dental, medical, and industrial applications is rapidly increasing; therefore, the market is screening demand for high efficiency, low yellowing photoinitiator designed specifically for precision manufacturing.
Regulation for Low-VOC and Non-Toxic Formulations- Regulations for environmental factors is stricter, thus correlate ions with safer, low-migration and odorless photoinitiator are now being observed. There will be increasing innovations in biocompatible and food-safe photoinitiator formulations for sensitive-use.
Invest in Premium Global Insights Immediate Delivery Available @ https://www.towardschemandmaterials.com/price/5647
Photoinitiator Market Dynamics
Growth Factor
Is Rapid, Energy-Efficient UV Curing Using Photoinitiator Changing the World?
One significant factor is the increased usage of coatings and inks that are UV/LED-cured across industries, as well as government recognition and regulatory support for this transition. For example, in 2023, the South Coast Air Quality Management District (SCAQMD) in California amended Rule 219 to provide a permitting exemption for UV/EB/LED curing systems, when the emissions are low, they said adding this technology "does not increase emissions and should not be subject to permitting".
This is a real regulatory endorsement that the environmental benefits of photoinitiator-based curing technology create no detrimental environmental impact.
Accordingly, public agencies are encouraging a wider industrial uptake of photoinitiator-based technology. Coupled with the known advantages of UV curing (faster processing times, better production quality, and space efficiency), this regulatory support creates demand for photoinitiator formulations for UV/LED systems. It's an ecosystem change where technology adoption is congruent with the environmental regulatory process.
How AI is Transforming Photoinitiator Market?
The photoinitiator space is deploying new state-of-the-art AI to accelerate the discovery and performance of photoinitiator. In July 2025, the labs at North Carolina State's self-driving lab used machine learning to guide experiments for discovering new photosensitive materials 10X faster than traditional processes.
New polymer-research review papers show a tectonic shift occurring, e.g., trial and error, or traditional systematic investigations have melded into AI-assisted design and active learning systems for photoinitiator materials to help do research smarter and greener.
Now, in the case of drugs and materials, autonomous chemical synthesis platforms are capable of running dozens of reagents in the same experiment to speed discovery. Accordingly, the new work in photoinitiator materials is a tipping point as AI and technology not only assist with but replace what we had formerly relied upon for innovation.
Market Opportunity
Why is 'Dual‑Cure' Photoinitiator Chemistry being the Opportunity for Photoinitiator Market ?
One of the great advancements in the photoinitiator market is the growth of dual‑cure chemistry a formulation that can cure using traditional UV lamps along with the newest UV‑LED systems. This benefit is particularly useful for industries migrating toward energy-efficient LED systems while maintaining existing equipment and processes and minimizing labor would also be important.
In February 2025, ink manufacturers reported an increased use of dual-cure inks , especially in refurbished printing presses which had updated LED curing capability.
The trend was further solidified in June 2025, when iGM Resins announced Esacure 563, a glyoxylate based photoinitiator designed to yield great results under both curing methods and enhance the reduction of yellowing.
As packaging, electronic, and 3D printing industries are searching for flexible, high performing solutions, these findings showcase a relevant and flexible situation with available photoinitiator.
What can be the Potential Barriers Limiting the Future Growth of Photoinitiator Market?
Strict Environmental Regulations- Photoinitiator often incorporate chemicals like benzophenone and aromatic amines, which may present potential safety and environmental hazards. The increasing worldwide motivations to cut VOC emissions and to comply with REACH and FDA requirements may limit the uses of photoinitiator across industries.
Health and Safety Hazards- Some of the photoinitiator may pose a range of health and safety hazards, including skin sensitization, eye irritation, and the potential disruption of endocrine function. Concerns about the safety of photoinitiator for certain sensitive applications, including food packaging and cosmetics, have prompted regulatory scrutiny and adoption issues.
Limited UV Light Penetration in Thicker Coatings- Photoinitiator rely on UV light for activation, but the light does not penetrate effectively through thicker coatings or pigmented substrates. Therefore, photoinitiator have a limited application in existing industrial manufacturing processes, which has created a motivation among manufacturers to find alternate curing processes such as electron beam or thermal curing.
For more information, visit the Towards Chem and Materials website or email the team at [e-mail]| [phone]
Photoinitiator Market Segmentation Analysis
Type Insights
Why Does Plastic Bottles Segment Dominated the Photoinitiator Market in 2024?
The free radical photoinitiator type segment was the largest type of segment in 2024 for the global market due to its widespread use across different industrial applications. It is widely known for its rapid polymerization and energy-efficient processing as these photoinitiator are mostly utilized for energy-cured coatings (UV-cured coatings), adhesives, and printing inks. The manufacturers prefer free radical photoinitiator as these photo-initiators can initiate very fast curing under UVC light, are cost-effective, and work for a wide range of resins in high-throughput applications.
The cationic photoinitiator type segment will grow at the fastest rate during the forecast period, given its specific use applications in the food-grade packaging, dental materials, electronics, and medical devices. Cationic photoinitiator can polymerize at low shrinkage and provide a chemical resistant curing system that allows maximal processing options for the most sensitive items and performance criteria. Their durability, reduced toxicity and more virgin-cured systems are primarily why cationic photoinitiator are becoming vastly preferred in industries where precision and regulatory decisions are used.
End Use Insights
Which Application Segment Holds the Dominant Share of Photoinitiator Market?
The coatings segment was the leading end use in the market in 2024, as the use of UV-curable coatings was on the rise primarily due to protective and decorative uses. Industries including automotive, construction, electronics, and several other markets were increasingly using UV-curable coatings to improve surface durability, wear resistance, and aesthetics. UV-curable coatings also provided a quick dry time and reduced energy expenditure during manufacturing.
The inks segment is projected to post the fastest growth rate during the forecast period, based primarily on rapidly growing UV curable use in the packaging and label printing segments. UV-curable inks are relatively new to the market and consumers are rapidly adopting UV-curable inks because they provide high quality, smudge-free prints usually at faster production speeds over conventional inks. Plus, the rapid advancement in digital printing technology continues to drive demand for UV-curable inks where photoinitiator enable fast drying characteristics and better print performance.
Regional Insights
Why is North America dominating the Global Photoinitiator Market?
The North America photoinitiator market size was valued at USD 52.64 billion in 2024 and is expected to hit around USD 139.85 million by 2034, growing at a compound annual growth rate (CAGR) of 10.26% over the forecast period from 2025 to 2034.
North America dominated the photoinitiator market in 2024, as it has been widely accepted in packaging, industrial coatings, digital printing, electronics, and medical devices, among other industries. North America has a very robust regulatory environment, which encourages the use of environmentally friendly UV-curable systems with low emissions and energy consumption. UV-based curing technologies are becoming increasingly popular due to their efficiency and accuracy, and compliance with regulatory bodies.
U.S. Market Trends
The United States is the leader in photoinitiator use in North America due to dominating manufacturing sectors, and the acceptance of UV-curable technologies in the healthcare, aerospace, electronics, and desirable packaging industries, to name a few. The U.S is an excellent R&D landscape as well, with firms and universities producing next generation photoinitiator based on the needs of their industry, such as exact dental materials, and biocompatible 3D printed implants.
What Makes Asia Pacific the Fastest Growing Marketplace for Photoinitiator Market?
Asia Pacific is expected to have the fastest growth in the market due to rapid growth during the forecast period. Countries in Asia Pacific are increasingly moving to UV-curable technologies because of their lower environmental impact, energy efficiency, and high-speed manufacturing capabilities. There is also growing demand for high tech consumer electronics and flexible packaging in emerging economies, which further underscores this trend and allows manufacturers a sustainable lower cost to source their starting raw materials.
China Market Trend
The photoinitiator market in China is growing faster than in Asia Pacific overall due to its strong manufacturing ecosystem and aggressive adoption of UV technologies in a variety of industries including electronics, coatings and industrial printing. Manufacturers, including the major chemical companies, have increased the capacity to produce needed photoinitiator to meet the massive structure rates in demand while government policies encourage and promote more environmentally friendly production. China is also a dominant force in supplying raw materials for photoinitiator.
More Insights in Towards Chem and Materials:
Adhesives & Sealants Market : The global adhesives & sealants market size was reached at USD133.45 billion in 2024 and is expected to be worth around USD 350.88 billion by 2034, growing at a compound annual growth rate (CAGR) of 10.15% over the forecast period 2025 to 2034.
Adhesives Market : The global adhesives market size was reached at USD 68.95 billion in 2024 and is expected to be worth around USD 124.77 billion by 2034, growing at a compound annual growth rate (CAGR) of 6.11% over the forecast period 2025 to 2034.
Elastomers Market : The global elastomers market size was reached at USD 104.19 billion in 2024 and is expected to be worth around USD 175.46 billion by 2034, growing at a compound annual growth rate (CAGR) of 5.35% over the forecast period 2025 to 2034.
Glycol Market : The global glycol market size was reached at USD 46.95 billion in 2024 and is expected to be worth around USD 92.88 billion by 2034, growing at a compound annual growth rate (CAGR) of 7.06% over the forecast period 2025 to 2034.
Butyric Acid Market : The global butyric acid market size is reached at USD 424.72 million in 2025 and is expected to be worth around USD 639.38 million by 2034, growing at a compound annual growth rate (CAGR) of 4.65% over the forecast period 2025 to 2034.
Biocides Market : The global biocides market size was reached at USD 10.85 billion in 2024 and is expected to be worth around USD 16.45 billion by 2034, growing at a compound annual growth rate (CAGR) of 4.25% over the forecast period 2025 to 2034.
Flocculants and Coagulants Market : The global flocculants and coagulants market size is reached at USD 13.70 billion in 2025 and is expected to be worth around USD 19.42 billion by 2034, growing at a compound annual growth rate (CAGR) of 3.95% over the forecast period 2025 to 2034.
Top 10 Companies in Photoinitiator Market & Their Contributions
IGM Resins- Global leader solely focused on photoinitiators; offers wide product range for UV/EB curing applications
Lambson Ltd (part of Aditya Birla Group)- Specializes in Type I & II photoinitiators; known for tailored, high-purity formulations
Arkema S.A.- Supplies photoinitiators as part of integrated UV/EB systems; strong in 3D printing and coatings
BASF SE- Former photoinitiator producer; now contributes through raw materials and additives for the industry.
Tronly New Electronic Materials Co., Ltd.- Key Chinese supplier of economical, widely used photoinitiators like 1173, 184, TPO, growing globally.
Tianjin Jiuri New Materials Co., Ltd.- Major exporter with focus on high-performance and eco-friendly photoinitiators
ADEKA Corporation- Offers advanced photoinitiators for electronics and industrial coatings, strong in Asian markets.
Evonik Industries AG- Produces specialty additives and photoinitiators; supports high-performance coatings and 3D printing.
Rahul Photoinitiator Pvt. Ltd.- Indian manufacturer supplying standard photoinitiators for inks, coatings, and adhesives.
Eutec Chemical Co., Ltd.- Taiwanese supplier providing customized photoinitiators for regional coatings and electronics industries.
Photoinitiator Market Top Key Companies:
IGM Resins
Lambson Ltd (part of Aditya Birla Group)
Arkema S.A.
BASF SE
Tronly New Electronic Materials Co., Ltd.
Tianjin Jiuri New Materials Co., Ltd.
ADEKA Corporation
Evonik Industries AG
Rahul Photoinitiators Pvt. Ltd.
Eutec Chemical Co., Ltd.
Recent Developments
In April 2025, IGM Resins opened a new R&D center in Waalwijk, Netherlands, focusing on visible-light and low-migration photoinitiators for food and healthcare packaging. This facility focuses on creating visible-light and low-migration photoinitiators, addressing the industry's demand for safer and more efficient UV-curable solutions. The center also emphasizes the development of polymeric photoinitiators, which are designed to minimize migration into packaged goods, ensuring compliance with stringent food safety regulations.
In January 2025, Tianjin Jiuri New Materials expanded its photoinitiator production capacity in China by 20,000 tons/year to meet rising global demand, especially from Europe and Southeast Asia. This expansion is part of the company's strategic initiative to enhance its global supply capabilities and strengthen its position in the UV-curing materials market.
Photoinitiator Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2034. For this study, Towards Chem and Materials has segmented the global Photoinitiator Market
By Type
Free Radical
Cationic
By End Use
Adhesives
Ink
Coating
Other End Use
By Regional
North America
Europe
Asia Pacific
Latin America
Middle East Africa
Immediate Delivery Available | Buy This Premium Research Report@ https://www.towardschemandmaterials.com/price/5647
About Us
Towards Chem and Materials is a leading global consulting firm specializing in providing comprehensive and strategic research solutions across the chemical and materials industries. With a highly skilled and experienced consultant team, we offer a wide range of services designed to empower businesses with valuable insights and actionable recommendations.
Our Trusted Data Partners
Precedence Research | Statifacts | Towards Packaging | Towards Healthcare | Towards Food and Beverages | Towards Chem and Materials | Towards Consumer Goods | Nova One Advisor |
For Latest Update Follow Us: https://www.linkedin.com/company/towards-chem-and-materials/
USA: [phone]
APAC: [phone] or [phone]
Europe: [phone]
Email: [e-mail]
Web: https://www.towardschemandmaterials.com/