Global Imaging Chemicals accounted for a market size of USD 22 billion in the year 2019 and is projected to grow at a CAGR of more than 6% over the forecast period. Imaging Chemicals are chemicals that are used to produce images. These chemicals primarily comprise of two forms, including printing inks and developers along with other forms. The printing inks are chiefly used in printing technologies such as gravure, screen printing, offset, and in digital printing technologies in the form of toner cartridges and Inkjets. The increasing number of chronic diseases, rising geriatric population, along with the rapid adoption of improved technologies in textile industries is stimulating the industry upsurge.
The global imaging chemicals market size is projected to reach nearly USD 40 billion by 2028. The imaging chemicals industry is witnessing significant transformations owing to integration of smart technologies along with rising awareness people toward attaining improved health conditions. These high-performance chemicals used in imaging improves the visuals by imparting high clarity of the images. In addition, rising industry participant efforts to produce customized chemicals to expand application of these chemicals is further stimulating the business landscape.
The COVID-19 situation has slashed volume of imaging tests that includes X-Ray, CT scan, ultrasound, and MRI. The significant decline in footfall across hospitals, and clinics for imaging-based tests has plummeted the imaging chemicals demand. The descending outlook is further compounded by supply chain disruption owing to halt in manufacturing activities, stagnated shipment, and delayed payment. Although, the industry is expected to surge at an escalated rate in post-COVID-19 period on account of increased public awareness toward healthcare coupled with textile and printing & packaging set to attain speedy recovery, in turn, augmenting the chemicals demand.
Key segments across Imaging Chemicals market
- Product Overview, 2019 – 2028 (USD Million and kilotons)
- Application Overview, 2019 – 2028 (USD Million and kilotons)
- Printing & Packaging
- Medical Diagnostic
- Regional Overview, 2019 – 2028 (USD Million and kilotons)
- North America
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia-Pacific
• Middle East & Africa
o Saudi Arabia
o Rest of Middle East & Africa
• South America
o Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global Imaging Chemicals industry. Benchmark yourself against the rest of the market.
- Be prepared for how Imaging Chemicals industry investments will be impacted by socio-political and economic factors over the next few years.
- Ensure you remain competitive as new innovations by existing key players boost the market.
What does the report include?
- The study on the global Imaging Chemicals includes qualitative factors such as drivers, restraints, and opportunities.
- The study covers the competitive landscape of existing/prospective players in the industry and their strategic initiatives for the form development.
- The study covers a qualitative and quantitative analysis of the market segmented on the basis of product and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
This study is suitable for industry participants and stakeholders in the global Imaging Chemicals. The report will benefit:
- Every stakeholder involved in manufacturing and distributing components or solutions.
- Managers within financial institutions looking to publish recent and forecasted statistics pertaining to the global Imaging Chemicals industry.
- Government organizations, regulatory authorities, policymakers and financial organizations looking for T&D investment trends in global Imaging Chemicals industry.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
The industry is shifting focus toward digital printing on account of high quality, faster turnaround time, cost competitiveness, and easy printing customization. The wide scale adoption of the technology is analyzed to propel the demand for inks, which are used in ink cartridges and toners. The ongoing integration of advanced technology to automate the operations in the manufacturing facilities is further contributing to the growth. Although, ongoing shift toward online media in the printing & the publishing industry along with the high cost associated with imaging chemicals is expected to hit the industry size. However, surging demand for the printing chemicals for film-based photography and surge in application diversification is expected to positively influence the business outlook.
In terms of components, the market is bifurcated into developers, inks, and others. The ink segment is estimated to hold a major market share over the forecast period. The market growth of this segment is ascribed to its utilization in digital and analog printing process.
Based on the application, the market is segmented into textile, printing & packaging, medical diagnostic, and others. The medical diagnostics segment leads the market size in 2019 and it is anticipated to hold its position during the forecast years. The market growth of this segment is mainly attributed to the rising advancement and application of the chemical in the different segment along with growing demand for diagnosis pertaining to increasing population index across the globe.
In terms of geography, the global Imaging Chemicals is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific is anticipated to dominate the global Imaging Chemicals market. Surge in domestic consumption coupled with increasing exports is stimulating the market demand in the region. Furthermore, the region comprises of multiple emerging countries such as China, India, Vietnam, South Korea, and Thailand is contributing to the industry growth.
The leading players operating across the global Imaging Chemicals market include Fujifilm, Toyo Ink SC, Vivimed Labs, The Eastman Kodak Company, Flint Group, Sakata Inx, Siegwerk Druckfarben, and DIC Corp. The market for Imaging Chemicals is consolidated with established global players and is further witnessing the emergence of new industry players Moreover, the industry players are targeting toward enhancing their market share through implementation of merger & acquisition, collaborations growth strategies.