Imaging Chemicals & Materials Market Analysis
Imaging Chemicals and Materials Market - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027
The global imaging chemicals and materials market size is expected to witness potential gains in the future, and register a significant CAGR of 6% over the forecast period (2019 - 2027).
Imaging chemicals and materials are used to make newspapers, magazines, and books. These chemicals and materials are also used to make reports, photographs, transparencies, films, currency, and credit cards. There are three main types of printing: offset litho printing, digital printing, and screen printing. Different types of chemicals are used in imaging such as pre-press chemicals, printing inks, fountain solutions, cleaning solvents, adhesives and glues, and dilution solvents. Materials used in imaging include, papers, polymers, paste, duroplastics, and resins.
Major application of imaging chemicals and materials in in the newspaper and printing industry. Therefore, significant growth in the printing industry is expected to boost growth of the global imaging chemicals and materials market. Different chemicals are used for different types of printing. Pre-press chemicals include, n-Hexane, n-Heptane, Toluene (13.6%), Isopropanol, Acetic acid, Ethylene glycol, Xylene, and others. Printing inks include, soybean oil, Polybutylene terephthalate resin, organic pigment, mineral oil, auxiliaries, toluene, and others.
Imaging is also used in the healthcare sector with equipment such as x-ray and magnetic resonance imaging. Use of isotopes and the energetic particles is common in medical imaging. X-ray films that are used in radiography contain an emulsion-gelatin consisting radiation sensitive silver halide crystals. Therefore, increasing adoption of imaging technologies in the healthcare sector is also expected to boost growth of the market.
However, increasing impact of chemicals on the environment is expected to hinder the market growth. Key players in the market can focus on developing bio-based chemicals for imaging in order to enhance their market share.
Among regions Asia Pacific is expected to account for the major share in the market over the forecast period. This is owing to increasing number of newspaper circulations in countries such as India and China. Moreover, increasing investments in the printing & packaging and textiles industries is also expected to contribute to the market growth. The market in North America is expected to witness significant growth due to increasing use of medical imaging and materials in the U.S.
Major players operating in the global imaging chemicals and materials market include, Vivimed Labs, Crysta-Lynn Chemical Company, TechNova Imaging Systems, Synthotex Chemicals Pvt. Ltd., and T&K Toka.
Imaging Chemicals & Materials Market Key Developments: