Photoinitiator Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Global Photoinitiator Market is segmented by type (free radical and cationic), application (adhesives, ink, coating, and other applications), and geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers the market sizes and forecasts for the Photoinitiator market in value (USD million) for all the above segments.

Photoinitiator Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Photoinitiator Market Size

Photoinitiator Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
CAGR 10.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Photoinitiator Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Photoinitiator Market with other markets in Chemicals & Materials Industry

Plastics, Polymers, and Elastomers

Adhesives and Sealants

Commodity Chemicals

Water and Wastewater Treatment

Advanced Materials

Construction Chemicals and Materials

Photoinitiator Market Analysis

The Photoinitiator Market is expected to register a CAGR of greater than 10% during the forecast period.

The COVID-19 pandemic negatively impacted the market for photoinitiators. Major market participants are from Asia-Pacific and Europe, among the most hit by the viral pandemic. Revenue for the companies fell from 7% to 10% in 2020 compared to the previous year. The diminishing gains deterred new entrants into the photoinitiators industry and adopters in their work processes. The photoinitiator market recovered from the pandemic and is growing significantly.

  • Over the short term, with promising growth in end-use industries such as adhesive, coating, ink, and paint along with eco-friendly alternatives for volatile organic compounds (VOCs) as photoinitiators may be dissolved in water using oligomers, producing little or no environmental impacts on the applications are projected to fuel market growth throughout the forecast period.
  • However, safety concerns, as the photoinitiators' production necessitates the toxic chemicals used for human health and high prices. They are the significant factors likely to hamper the photoinitiator market size growth.
  • Nevertheless, creating non-hazardous photoinitiators for use in the dentistry industry will likely create lucrative delivery opportunities for the market over the forecast period.
  • Regarding revenue, Asia-Pacific is expected to dominate the global market during the forecast period.

Photoinitiator Industry Overview

The photoinitiator market is fragmented in nature. Some of the major manufacturers in the market include Arkema, IGM Resins, TCI Chemicals, Tianjin Jiuri New Material Co. Ltd., and Changzhou Tronly New Electronic Materials, among others (in no particular order).

Photoinitiator Market Leaders

  1. Arkema

  2. IGM Resins

  3. TCI Chemicals

  4. Tianjin Jiuri New Material Co. Ltd.

  5. Changzhou Tronly New Electronic Materials

  6. *Disclaimer: Major Players sorted in no particular order
Photoinitiator Market.png
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Photoinitiator Market News

  • July 2022: IGM Resins acquired Litian, a Chinese manufacturer of energy-curing resins. After the acquisition, IGM now includes three distinct product lines, a wide range of photoinitiators, a strong offering of energy-curing resins, and a good selection of additives.
  • May 2022: Arkema exhibited novel and more sustainable solutions like resins, photoinitiators, and 3D printing materials at RadTech UV+EB 2022 in Orlando, FL. During eight technical conferences, Arkema technical specialists showcased their most recent advancements in energy-cured materials.

Photoinitiator Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Drivers
    • 4.1.1 Promising Growth in End-use Industries such as Adhesive, Coating, Ink, and Paint
    • 4.1.2 Eco-friendly Alternatives for Volatile Organic Compounds (VOCs)
  • 4.2 Restraints
    • 4.2.1 Safety Concerns and Highest Costs
    • 4.2.2 Other Restriants
  • 4.3 Industry Value Chain Analysis
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Buyers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products and Services
    • 4.4.5 Degree of Competition

5. MARKET SEGMENTATION (Market Size in Value)

  • 5.1 Type
    • 5.1.1 Free Radical
    • 5.1.2 Cationic
  • 5.2 Application
    • 5.2.1 Adhesives
    • 5.2.2 Ink
    • 5.2.3 Coating
    • 5.2.4 Other Applications
  • 5.3 Geography
    • 5.3.1 Asia-Pacific
    • 5.3.1.1 China
    • 5.3.1.2 India
    • 5.3.1.3 Japan
    • 5.3.1.4 South Korea
    • 5.3.1.5 Rest of Asia-Pacific
    • 5.3.2 North America
    • 5.3.2.1 United States
    • 5.3.2.2 Canada
    • 5.3.2.3 Mexico
    • 5.3.3 Europe
    • 5.3.3.1 Germany
    • 5.3.3.2 United Kingdom
    • 5.3.3.3 France
    • 5.3.3.4 Italy
    • 5.3.3.5 Spain
    • 5.3.3.6 Rest of Europe
    • 5.3.4 South America
    • 5.3.4.1 Brazil
    • 5.3.4.2 Argentina
    • 5.3.4.3 Rest of South America
    • 5.3.5 Middle-East and Africa
    • 5.3.5.1 South Africa
    • 5.3.5.2 Saudi Arabia
    • 5.3.5.3 Rest of Middle-East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Market Share (%) **/ Ranking Analysis
  • 6.3 Strategies Adopted by Leading Players
  • 6.4 Company Profiles
    • 6.4.1 ADEKA Corporation
    • 6.4.2 Arkema
    • 6.4.3 Changzhou Tronly New Electronic Materials Co. Ltd.
    • 6.4.4 DBC
    • 6.4.5 Environ Speciality Chemicals Ltd
    • 6.4.6 Eutec
    • 6.4.7 IGM Resins
    • 6.4.8 Jingjiang Hongtai Chemical Engineering Co. Ltd.
    • 6.4.9 Jiuri Chemical
    • 6.4.10 Lambson
    • 6.4.11 New Sun Poly Tec Co Ltd.
    • 6.4.12 Polynaisse
    • 6.4.13 Rahn AG
    • 6.4.14 TCI Chemicals
    • 6.4.15 Tianjin Jiuri New Materials Co. Ltd.
    • 6.4.16 Zhejiang Yangfan New Materials Co. Ltd.
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Development of Non-Hazardous Photoinitiators for Application in the Dental Industry
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Photoinitiator Industry Segmentation

A photoinitiator is a molecule that creates reactive species when exposed to radiation. Synthetic photoinitiators are critical components in photopolymers. Some small molecules in the atmosphere can also act as photoinitiators by decomposing to give free radicals. The photoinitiator market is segmented by type, application, and geography. By type, the market is segmented into free radical and cationic. By application, the market is segmented into adhesives, ink, coating, and other applications. The report covers the market size and forecast for the photoinitiator agent market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on value (USD million).

Type Free Radical
Cationic
Application Adhesives
Ink
Coating
Other Applications
Geography Asia-Pacific China
India
Japan
South Korea
Rest of Asia-Pacific
North America United States
Canada
Mexico
Europe Germany
United Kingdom
France
Italy
Spain
Rest of Europe
South America Brazil
Argentina
Rest of South America
Middle-East and Africa South Africa
Saudi Arabia
Rest of Middle-East and Africa
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Photoinitiator Market Research FAQs

What is the current Photoinitiator Market size?

The Photoinitiator Market is projected to register a CAGR of greater than 10% during the forecast period (2025-2030)

Who are the key players in Photoinitiator Market?

Arkema, IGM Resins, TCI Chemicals, Tianjin Jiuri New Material Co. Ltd. and Changzhou Tronly New Electronic Materials are the major companies operating in the Photoinitiator Market.

Which is the fastest growing region in Photoinitiator Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Photoinitiator Market?

In 2025, the Asia-Pacific accounts for the largest market share in Photoinitiator Market.

What years does this Photoinitiator Market cover?

The report covers the Photoinitiator Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Photoinitiator Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Photoinitiator Industry Report

Statistics for the 2025 Photoinitiator market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Photoinitiator analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.