Photoinitiator Market Size To Reach $253.6 Million By 2030

Photoinitiator Market Growth & Trends

The global photoinitiator market size is projected to reach USD 253.6 million by 2030, growing at a CAGR of 10.2% from 2025 to 2030, according to a new report by Grand View Research, Inc. Increasing adoption of UV-curable systems in inks, coatings, adhesives, and 3D printing materials is driving market growth. Due to their low-VOC profile, these systems offer rapid curing, reduced energy consumption, and environmental benefits.

Photoinitiators are integral to initiating the polymerization process in UV-curable formulations. Rising demand for sustainable and high-efficiency printing and coating technologies fuels innovation in visible-light and water-soluble photoinitiators. Market players are investing in regulatory-compliant and food-contact-safe initiators to meet the growing packaging, electronics, and medical requirements.

Asia Pacific is emerging as the fastest-growing regional market owing to expanding industrial infrastructure, especially in China and South Korea. Meanwhile, North America and Europe remain key hubs for high-performance photoinitiator consumption in electronics, healthcare, and automotive coatings. Major manufacturers, including IGM Resins, BASF SE, Arkema S.A., and ADEKA Corporation are focusing on product differentiation, sustainability, and downstream integration with resin and ink formulators. New product development and geographic expansion remain core strategies shaping market competitiveness.

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Photoinitiator Market Report Highlights

• North America held the highest market share in 2024, fueled by the advanced printing, medical device, and packaging industries with stringent VOC regulations.

• Cationic photoinitiators are witnessing increased demand in electronics and high-performance coatings, driven by their oxygen-insensitive curing capabilities.

• Development of visible-light-sensitive, low-migration, and food-contact-safe photoinitiators is shaping the next wave of innovations, especially for packaging, dental, and biomedical uses.

• Compliance with frameworks such as REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals) in Europe and FDA regulations in the United States is a prerequisite for market entry in premium and sensitive-use segments.

• In October 2024, Arkema introduced a new generation of low-odor photoinitiators under the Sartomer brand, designed for LED and hybrid curing systems.

Photoinitiator Market Segmentation

Grand View Research has segmented the global photoinitiator market report based on type, end use, and region.

Potoinitiator Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Free Radical

• Cationic

Potoinitiator End Use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Adhesives

• Ink

• Coating

• Other End Use

Potoinitiator Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Central & South America

• Middle East & Africa

List of Key Players in the Photoinitiator Market

• 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.