2-Hydroxy-2-Methylpropiophenone(Photoinitiator-1173) Market size is estimated to be USD 150 Million in 2024 and is expected to reach USD 250 Million by 2033 at a CAGR of 6.5% from 2026 to 2033.
In 2022, the global 2 Hydroxy 2 Methylpropiophenone (Photoinitiator 1173) market was valued at approximately USD 250 million and is projected to reach USD 400 million by 2030, growing at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2030. The Asia Pacific region dominated the market, accounting for 45% of the global share in 2023, driven by rapid industrialization and the expansion of end user industries such as electronics and automotive in countries like China and India. North America contributed 22% to the market, with steady demand from the coatings and adhesives sectors. Europe held a 20% share, supported by advancements in UV curable technologies and a strong emphasis on sustainable manufacturing practices. Latin America and the Middle East & Africa accounted for 7% and 6% of the market, respectively, reflecting growing industrial activities and infrastructure development in these regions. The markets growth is primarily driven by the increasing adoption of UV curable technologies across various industries, including automotive, electronics, and packaging, as companies seek to improve production efficiency and reduce volatile organic compound (VOC) emissions. In the Asia Pacific region, the market is projected to grow at a CAGR of approximately 7.2%, reflecting strong regional demand and favorable economic conditions. North America is expected to maintain steady growth, with a projected CAGR of around 5.8%, driven by technological advancements and sustainable manufacturing practices. Europe is anticipated to grow at a CAGR of about 5.5%, supported by stringent environmental regulations and the adoption of eco friendly materials. Emerging markets in Latin America and the Middle East & Africa are also expected to show moderate growth, fueled by increasing industrial activities and infrastructure development.
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IGM Resins
Lambson
Zhejiang Yangfan New Materials
Polynaisse
RAHN
Tianjin Jiuri Materials
Lamberti
Dalian Richifortune Chemicals
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global 2-Hydroxy-2-Methylpropiophenone(Photoinitiator-1173) Market
Adhesives
Coatings
Inks
Pharmaceuticals
Composites
Construction
Automotive
Electronics
Packaging
Healthcare
Liquid
Powder
Granules
UV-Curing
LED-Curing
Electron Beam Curing
Online Retailers
Distributor/Reseller
Direct Sales
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global 2-Hydroxy-2-Methylpropiophenone(Photoinitiator-1173) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global 2-Hydroxy-2-Methylpropiophenone(Photoinitiator-1173) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global 2-Hydroxy-2-Methylpropiophenone(Photoinitiator-1173) Market, By Type
6. Global 2-Hydroxy-2-Methylpropiophenone(Photoinitiator-1173) Market, By Application
7. Global 2-Hydroxy-2-Methylpropiophenone(Photoinitiator-1173) Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global 2-Hydroxy-2-Methylpropiophenone(Photoinitiator-1173) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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