UK and Ireland Photoinitiator Market by Product Type (Free Radical Photoinitiator and Cationic Photoinitiator), By Application (Paints, Inks and Adhesives), and by Region – UK and Ireland Forecast to 2031

Market.us announces the publication of its most recently generated research report titled, “ UK and Ireland Photoinitiators Market by Product Type (Free Radical Photoinitiator and Cationic Photoinitiator), By Application (Paints, Inks, and Adhesives), and by Region – UK and Ireland Forecast to 2029.”, which offers a holistic view of the UK and Ireland Photoinitiators market through systematic segmentation that covers every aspect of the target market.

The UK Photoinitiators market is projected to be US$ 28 Mn in 2019 to reach US$ 55.1 Mn by 2029 at a CAGR of 7.1%.

Photoinitiators are small molecules that are sensitive to light. Immediately after light absorption, they undergo photochemical cleavage to produce reactive species that are free radicals or Lewis acid or Bronsted that interact with active components in the formulations. One could say that it takes the energy from light and then transform it into chemical energy to make chemical reactions. Moreover, this process where the liquid formulation is converted into a cross-linked polymer encouraged by a photoinitiator and their responses to light is known as photopolymerization.

The rising demand for photoinitiators in wood coatings, powder coatings, and automotive coatings applications is a significant factor expected to drive the target market growth.

However, stringent government regulation in developing and developed countries related to the use of some coatings that emit VOC is expected to restrain the market growth. Nonetheless, increasing government funds for the development of infrastructure in developing as well as developed countries can create revenue opportunities for key players operating in the market.

UK Photoinitiators Market Revenue (US$ Mn), 2019–2029 

UK and Ireland Photoinitiators market is segmented on the basis of product type, application, and region. On the basis of product type, the market is segmented into Free Radical Photoinitiator and Cationic Photoinitiator. The Free Radical Photoinitiator segment accounts for the majority share and is expected to register the highest growth over the forecast period. On the basis of application, the market is segmented into Paints, Inks, and Adhesives. The Paints segment accounts for a majority share in the UK and Ireland Photoinitiators market.

UK and Ireland Photoinitiators Market Attractiveness Index by Product Type, 2019

The research report on the UK and Ireland Photoinitiators market include profiles of some of the major companies such as Lambson Ltd., Arkema S.A., IGM Resins B.V., BASF SE, Double Bond Chemical Ind., Co., Ltd., Merck KGaA, Tianjin Jiuri New Materials Co., Ltd., Eutec Chemical Co., Ltd., etc.

Key Market Segments

Type

• Free Radical Photoinitiator
• Cationic Photoinitiator

Application

• Paints
• Inks
• Adhesives

Key Market Players included in the report:

• Lambson Ltd.
• Arkema S.A.
• IGM Resins B.V.
• BASF SE
• Double Bond Chemical Ind.Co.Ltd.
• Merck KGaA
• Tianjin Jiuri New Materials Co.Ltd.
• Eutec Chemical Co.Ltd