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Oct 7, 2020 6:30 AM ET

Global Imaging Chemicals Market Is Set To Reach A Value Around USD 8.80 Billion By 2024


iCrowd Newswire - Oct 7, 2020

Zion Market Research has published a new report titled “Imaging Chemicals Market by Product (Image Developers, Printing Inks, and Others) and by Application (Textile Processing, Printing & Packaging, Medical Diagnostic, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018—2024”. According to the report, the global imaging chemicals market was valued at approximately USD 5.36 billion in 2017 and is expected to generate around USD 8.80 billion by 2024, at a CAGR of around 5.0% between 2018 and 2024.

The continuous innovation and rapid product up-gradation have led to the upsurge in the demand for imaging chemicals across the globe. Integration of imaging chemicals across the value chain level will be a crucial element in the upcoming years that is likely to fuel the imaging chemicals market in the upcoming years. This can be attributed to the fact that majority of the manufacturers are trying to reduce their costs by opting for subsequent backward or forward integration, whichever is necessary depending upon their business model and organizational structure. Prospects for good supplier-manufacturer relationships at the product distribution network will help the organizations and leading players to gain an equitable profit in the near future. Rapid technological advancements in the medical imaging sector due to the increasing prevalence of cancer and brain disorders and rising geriatric population are likely to fuel the imaging chemicals market growth in the future. In the medical industry, image clarity is crucial while diagnosing and detecting diseases. Thus, the imaging chemicals market is anticipated to witness growth in the estimated timeframe. Manufacturers and organizations involved in imaging chemicals industry are making considerable R&D investments, mainly focusing on product development and product innovation. These factors are expected to drive the imaging chemicals market growth over the projected span. However, high implementation costs might limit this market in the years ahead.

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Global Imaging Chemicals Market

The global imaging chemicals market is segmented on the basis of product into printing inks, image developers, and others. The printing inks segment is expected to dominate the market in the forecast timeline, due to the growing popularity of digital imaging in the packaging industry. By application, this market includes printing and packaging, textile processing, medical diagnostic, and others. The medical diagnostic segment is estimated to dominate the imaging chemicals market in the upcoming years, due to extensive use to ensure clarity and image optimization in the medical diagnosis process.

North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa comprise the regional segment of the global imaging chemicals market. North America is predicted to offer significant growth opportunities for the global players of the imaging chemicals market. The rising demand for image chemicals in the packaging industry and the growing awareness to develop eco-friendly organic imaging chemicals is likely to foster the region’s imaging chemicals market growth in the upcoming years. The Asia Pacific imaging chemicals market is forecasted to register the highest rate of growth over the next few years. This regional growth can be attributed to the rising disposable income of the population and their increasing purchasing power. Moreover, emerging countries, such as India and China, are major consumers of imaging chemicals in the medical industry.

Some industry players operating in the imaging chemicals market include T&K Toka, The Eastman Kodak Company, Fujifilm, DIC Corp., Vivimed Labs, Sakata Inx, Flint Group, Siegwerk Druckfarben, and Toyo Ink SC, among others.

This report segments the global imaging chemicals market into:

Global Imaging Chemicals Market: Product Analysis

Global Imaging Chemicals Market: Application Analysis

Global Imaging Chemicals Market: Regional Analysis

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Keywords:    Imaging Chemicals Market

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