Luton, Bedfordshire, United Kingdom, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Rising Demand for Imaging Chemicals Across Key Industries and Technological Advancements
Over the forecast period, the demand for imaging chemicals is expected to experience significant growth across a variety of end-use industries, including healthcare, packaging, and construction. The increasing reliance on advanced medical imaging technologies, particularly in healthcare, is one of the primary factors driving this demand. As innovations in imaging technologies continue to advance, industries are seeking more efficient and effective solutions to meet rising demand and improve the accuracy of their imaging processes.
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Chemical imaging refers to the analytical ability to create a visual representation of the distribution of components within a sample, utilizing simultaneous spectral, spatial, and temporal data measurements. This technology is recognized across several fields for its ability to provide detailed insights into the spatial composition of materials as well as the chemical characteristics of their constituents. It plays a vital role in a variety of applications, including Raman spectroscopy, mid-infrared (IR) spectroscopy, and near-infrared (NIR) spectroscopy. Each of these imaging methods offers distinct advantages and is tailored to meet specific demands, similar to bulk spectroscopy techniques.
In the healthcare sector, chemical imaging is crucial for evaluating biological samples, medical devices, and pharmaceutical formulations. It is used extensively to analyze the distribution of pharmaceutically active substances and excipients within tablet formulations, which is vital for ensuring consistent product quality and therapeutic efficacy. The technology also provides valuable data for the quality control of active substances, intermediates, and excipients used in both solid dosage forms and biologics.
The packaging industry is another significant end-use sector for imaging chemicals. Chemical imaging plays a crucial role in the quality assessment and integrity verification of packaging materials, especially in the food and pharmaceuticals industries, where safety and quality standards are paramount. By using chemical imaging to analyze materials such as packaging films, coatings, and inks, companies can ensure compliance with regulatory requirements and improve product quality.
In construction, chemical imaging is used for material analysis and quality control, enabling better monitoring of the chemical properties and performance of materials used in construction projects. This enhances the overall durability and safety of structures, particularly in the areas of coatings, sealants, and adhesives.
The continued adoption of advanced chemical imaging technologies, such as enhanced spectroscopic methods, is expected to drive growth in these industries. The ability to deliver precise, real-time data on the composition and distribution of materials makes chemical imaging an indispensable tool for industries looking to improve product performance, compliance, and safety. Additionally, the increasing need for customized imaging solutions tailored to specific applications will further contribute to the expanding market for imaging chemicals.
As technological advancements continue and industries increasingly rely on data-driven insights, the imaging chemicals market is poised for robust growth, with a strong focus on healthcare, packaging, and construction, as well as other emerging applications.
Printing Inks to Lead the Imaging Chemicals Market in the Forecast Period
Printing inks are expected to remain the largest product segment in the global imaging chemicals market throughout the forecast period. Printing inks are essential in both analog and digital printing processes, and their significant market share is driven by their widespread use in various applications. While conventional printing technology is projected to continue its dominance, the rapid adoption of digital printing technologies is expected to fuel further growth in the imaging chemicals market, particularly in the printing inks segment.
The demand for imaging chemicals in printing inks is primarily driven by the growing packaging industry, where printing plays a crucial role in creating high-quality, visually appealing packaging materials. As brands focus on enhancing product packaging to attract consumers, the need for advanced printing technologies and high-performance inks has grown. The ongoing shift toward digital printing, which offers flexibility, faster turnaround times, and the ability to print on demand, is expected to further boost the demand for imaging chemicals in this segment.
Digital printing offers several advantages over conventional methods, including improved color precision, lower production costs for short-run printing, and the ability to print on a variety of materials. This shift is also in line with the broader trend toward sustainability in the printing industry, as digital printing reduces waste and energy consumption compared to traditional methods. As a result, imaging chemicals, particularly those used in digital printing inks, are expected to see increased demand over the forecast period.
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APAC Set to Lead as the Fastest-Growing Market for Imaging Chemicals
The Asia-Pacific (APAC) region is projected to be the fastest-growing market for imaging chemicals during the forecast period. Between 2017 and 2022, APAC has demonstrated strong growth in terms of market value, and this trend is expected to continue. The region's diverse and rapidly expanding industrial base, coupled with increasing domestic consumption and exports, positions it as a key growth driver for the imaging chemicals market.
Among the various application segments in APAC, the printing and packaging industry is the largest consumer of imaging chemicals. The growth in packaging, particularly in consumer goods and e-commerce, is expected to fuel continued demand for high-quality inks and coatings. This sector remains a critical area for imaging chemicals, as packaging manufacturers seek advanced solutions to meet the needs of fast-paced, high-volume production and consumer customization.
However, the textile processing application is anticipated to be the fastest-growing segment for imaging chemicals in APAC. The growing demand for textile printing, driven by increased exports and rising domestic consumption of textiles, is expected to propel this market forward. The rise of fashion trends, coupled with an expanding middle class in countries such as China, India, and Thailand, is contributing to the increased demand for textile printing solutions. These countries, alongside other emerging markets in APAC, are key contributors to the rapid growth of the imaging chemicals market in the region.
The textile printing sector's growth can also be attributed to the rise of digital printing technologies, which offer greater flexibility and faster turnaround times compared to traditional methods. This shift is expected to drive significant demand for digital inks and imaging chemicals designed specifically for textile applications.
Market Segmentation:
By Product Type:
- Printing Inks
- Image Developers
- Others
By Application:
- Printing & Packaging
- Medical Diagnostics
- Textile Processing
- Others
By Region:
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
Key Players:
- EASTMAN KODAK COMPANY
- FLINT GROUP
- FUJIFILM HOLDINGS CORPORATION
- HUBERGROUP DEUTSCHLAND
- VIVIMED LABS LIMITED
- SAKATA INX CORPORATION
- T&K TOKA CO., LTD
- TOYO INK MFG. CO., LTD
- SIEGWERK DRUCKFARBEN AG & CO. KGAA
Recent Developments
- In November 2023, BASF launched a new range of eco-friendly digital inks designed for packaging applications. These inks are optimized for both environmental sustainability and high-quality color reproduction, helping manufacturers reduce their carbon footprint while maintaining print quality.
- In August 2023, Fujifilm announced its partnership with a leading European textile manufacturer to develop innovative textile printing solutions. This collaboration is set to provide sustainable and high-performance inks for digital textile printing, catering to the growing demand in the fashion and home textiles markets.
- In March 2023, DuPont unveiled a new line of advanced printing inks for 3D printing applications. These inks, designed for use with a wide range of 3D printing technologies, are formulated to provide enhanced durability, precision, and color vibrancy for industrial and consumer applications.
- In January 2023, Tokyo-based Toppan Printing expanded its production capabilities for high-performance inkjet inks for commercial and industrial printing. The investment aims to increase the company’s capacity to meet growing demand for digital printing in packaging and labeling industries.
- In December 2022, Toyo Ink Group acquired a leading supplier of UV-curable inks for the automotive and electronics sectors. This acquisition strengthens Toyo Ink's position in the growing market for UV inks, which are used for high-quality, durable prints in high-performance applications.
- In September 2022, 3M introduced a new series of imaging chemicals designed for use in automotive and industrial coatings. These advanced chemicals are aimed at improving durability and visual appeal in automotive finishes, offering better resistance to environmental factors and wear.
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