The photoinitiator (PI) industry has good development prospects and there are many companies with a global market presence.

Photoinitiator, also known as photosensitizer, photoinitiator, or PI for short, refers to a substance that can absorb radiant energy, undergo photochemical changes when excited, and produce active intermediates (free radicals or cations) with the ability to initiate polymerization. According to the difference in absorbed radiant energy, photoinitiators can be divided into ultraviolet photoinitiators and visible light initiators; according to different components, photoinitiators can be divided into ionic photoinitiators, free radical photoinitiators, etc.

Photoinitiators are mainly used in photocurable materials and play a decisive role in the photocuring speed of photocurable materials. The terminal application fields include medical devices, semiconductor devices, household appliances, automotive electronics, 3D printing, optical materials, etc. Light-curing materials are mainly composed of prepolymers, fillers, photoinitiators, diluents, stabilizers and other materials. They have the advantages of being green, environmentally friendly, fast curing, corrosion-resistant, and wear-resistant. At present, under the background that the advantageous characteristics of light-curing materials are constantly highlighted, their application fields are constantly expanding, and the market size is constantly expanding. As one of the important raw materials for the production of photocurable materials, the market demand for photoinitiators continues to increase, and the industry shows good development prospects.

According to the “Photoinitiator (PI) Industry Market In-depth Research and Investment Prospect Forecast Analysis Report 2023-2028” released by the Industrial Research Center Shows that the global photoinitiator market size will exceed US$800 million in 2022, a year-on-year growth of 6.2%. Common photoinitiator products currently on the market mainly include 184, 1173, 907, 651, TPO/TPO-L, TX series (ITX/DETX), etc.

At this stage, many companies around the world have entered the field of photoinitiators, including international companies such as IGM Resins of the Netherlands, Arkema of France, TCI of India, Rahn AG of Switzerland, Ninberdi of Italy, Sartomer of the United States, and BASF of Germany. As well as Chinese companies such as Jiangsu Xinhan New Materials, Tianjin Jiuri New Materials, Zhejiang Yangfan New Materials, Puyang Zhanchen New Materials, Wanhua Chemical Group, Jiangsu Sanmu Group, etc.

Among them, Dutch IGM Resins and Tianjin Jiuri New Materials are leading companies in the global photoinitiator industry. The production capacity of both companies has exceeded 20,000 tons, and their sales layout has covered major consumer markets around the world. In the future, as the technologies of relevant companies continue to upgrade, the development speed of the global photoinitiator industry is expected to continue to accelerate.

Industry analysts said that photoinitiators are one of the key raw materials for the production of photocurable materials and benefit from The application fields of global light-curing materials continue to expand, and their market demand continues to increase and their scale continues to expand. At present, many companies around the world have entered the field of photoinitiators, and the market competition is fierce. From the perspective of the domestic market, Jiuri New Materials is the photoinitiator manufacturer with the largest output and the most complete varieties in China. Driven by the increase in market demand, the company is actively expanding its production capacity. In the future, as the production capacity of leading companies continues to be released, the process of domestic substitution in my country’s photoinitiator market is expected to be significantly improved, and the industry has huge development potential.