Global Photopolymer Market: Overview
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.
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.
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
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.