Photopolymer are the class of polymers when exposed to light delivers change in its properties. Photopolymers changes its properties under ultraviolet and visible region of electromagnetic spectrum. The formulation of photopolymers consists of polymers or oligomers or monomers which undergoes curing by UV light. The polymer bases used in manufacturing photopolymers such as acrylics, polyamides, epoxies etc. acts as binders and helps to determine physical properties and processing characteristics after curing. Photo-initiators such as benzophenone, trimethylbenzoyldiphenyl phosphine, diaryliodonium salts etc. are important additives for initiating the photo-polymerization reactions. These initiators are classified as free radical type and cationic type of photo-initiators. Printing market currently holds significantly high market share in the global photopolymers markets. For instance, printing technologies such as offset, flexography, gravure etc. uses photopolymers in its printing plates. Other important application includes, heath care, photoresist and coatings and adhesives. The global photopolymers market is expected to exhibit at double CAGR growth rate during the forecast period.
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Global Photopolymer Market: Drivers and Restraints
Photopolymers offer some of the exceptional advantages in printing such as fine image production, high durability and offers better ink transfer. The growth in printing and packaging industries primarily drives the global photopolymers market. Particularly in printing applications, flexographic, offset printing type boosts the global photopolymers market since these printers accounts high consumption of photopolymers. Also, increasing demand for pre-print liners, flexible packing drives the global photopolymers market. Further, holographic films also drives the global photopolymer market since the hologram industry has started using photopolymers because of advanced properties required for automobile industry.
However, the photopolymers are available at quite high price which possess challenge for increasing adoption in the market.
Global Photopolymer Market: Segmentation
On the basis of raw material, photopolymer market is segmented into:-
- Polyinyl alcohol
- Photo initiators/ photosensitizer
- Other Additives
On the basis of photopolymer type, photopolymer market is segmented into:-
- Liquid Photopolymers
- Sheet Photopolymers
On the basis of application type, photopolymer market is segmented into:-
- Health Care
- Rubber Stamps
- Coatings and Adhesives
Global Photopolymer Market: Region wise Outlook
The global photopolymer market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and Middle East and Africa (MEA). North America and Europe holds major share in the global photopolymers market in terms of production due to established players such as BASF Corporation, Covestro AG etc. Followed by North America and Europe is APEJ, which is expected to grow relatively at a higher CAGR during the forecast period. The growth in APEJ is attributed by progress of flexible packaging industries. Japan is expected to expand at moderate CAGR whereas Latin America and MEA are expected to show sluggish growth rate during the forecast period. The tough economic and political conditions is expected to restrain the photopolymers market in these two regions.
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Global Photopolymer Market: Key Players
Some of the key players identified in the global photopolymer market includes:
- BASF Corporation
- Asahi Kasei Corporation
- Covestro AG
- Lumen Dynamics Group Inc.
- Photocentric Ltd., U.K.
- Toray Industries, Inc.
- Heraeus Noblelight Fusion UV Inc.
- Nordson Corporation
- Thermoflan SA
- Henkel Corporation
- Chemence Ltd, U.K
- SK Corporation