According to the latest report by IMARC Group, titled “Imaging Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global imaging chemicals market size reached US$ 9.5 Billion in 2022. Imaging chemicals, also known as photographic chemicals, are used in the production of images. They include imaging agents, toners, developers, and printing inks that help process and produce visual representations during medical imaging, such as X-ray, ultrasound, computed tomography (CT) scans, and magnetic resonance imaging (MRI). They help understand biological systems by enabling the identification of the fundamental atomic, molecular, and biochemical composition of tissue. Besides this, as they assist in achieving greater efficiencies by delivering clarity to the results, the demand for imaging chemicals is expanding in various industries across the globe.
Global Imaging Chemicals Market Trends:
The shifting consumer preferences towards digital printing technology on account of its high quality, optimized and faster turnaround time, and lower printing cost represents one of the key factors driving the market. Additionally, the increasing prevalence of chronic diseases and the rising need for medical imaging processes are catalyzing the demand for these chemicals to achieve reliable results. Apart from this, the growth in the printing and packaging industry is creating a positive market outlook. Imaging chemicals are used in processes, such as offset printing, flexography, and screen printing. Furthermore, the burgeoning e-commerce, retail, and consumer goods sectors is positively influencing the market. Moreover, various leading imaging chemical manufacturers are focusing on innovation and product development to expand their consumer base and market reach. They are also investing in research and development (R&D) activities to improve the performance, efficiency, and environmental sustainability of their products, which include developing chemicals with reduced environmental impact, safer formulations, and improved image quality. Additionally, the growing emphasis on reducing the use of hazardous chemicals and adopting environment friendly alternatives is propelling the market growth. Looking forward, the market value is projected to reach US$ 12.9 Billion by 2028, expanding at a CAGR of 4.96% during 2023-2028.
- Based on the product type, the market has been segmented into imaging agents and toners, printing inks, image developers, and others. At present, imaging agents and toners represent the largest market segment.
- On the basis of the application, the market has been segregated into medical, packaging and printing, textile, mining, and others. Medical currently accounts for the largest market share.
- Region-wise, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, Asia Pacific enjoys the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being Agfa-Gevaert N.V., Altana AG, Becton Dickinson and Company, DIC Corporation, Eastman Kodak Company, Flint Group, FUJIFILM Holdings Corporation, Kao Corporation, T&K TOKA Corporation, Toray Fine Chemicals Co. Ltd., Toyo Ink SC Holdings Co. Ltd., and Vivimed Labs Limited.
|Base Year of the Analysis
||Product Type, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Agfa-Gevaert N.V., Altana AG, Becton Dickinson and Company, DIC Corporation, Eastman Kodak Company, Flint Group, FUJIFILM Holdings Corporation, Kao Corporation, T&K TOKA Corporation, Toray Fine Chemicals Co. Ltd., Toyo Ink SC Holdings Co. Ltd. and Vivimed Labs Limited.
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