PUBLISHER: The Business Research Company | PRODUCT CODE: 1409509
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409509
“Imaging Chemicals Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on imaging chemicals market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for imaging chemicals? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The imaging chemicals market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Imaging chemicals are substances utilized in the development or output of images, playing a crucial role in various applications such as printing package labels and producing diagnostic images.
The main product types within the category of imaging chemicals include imaging agents and toners, printing inks, and imaging developers. Imaging agents and toners are particularly important for visualizing internal organ function, facilitating clinical analysis, and supporting medical procedures. These chemicals find applications in diverse fields, including medical diagnostics, packaging and printing, textile processing, mining, and others.
The imaging chemicals market research report is one of a series of new reports from The Business Research Company that provides imaging chemicals market statistics, including the imaging chemicals industry global market size, regional shares, competitors with imaging chemicals market share, detailed imaging chemicals market segments, market trends, and opportunities, and any further data you may need to thrive in the imaging chemicals industry. This imaging chemicals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The imaging chemicals market size has grown strongly in recent years. It will grow from $25.15 billion in 2023 to $26.81 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth observed in the historical period can be attributed to various factors, including the widespread adoption of photography by consumers, the use of imaging in graphic arts and printing, advancements in medical imaging, the application of imaging in various industrial contexts, the demand for high-quality prints, and the continued use of film-based cinematography. These factors collectively contributed to the expansion of the imaging chemicals industry during the historic period.
The imaging chemicals market size is expected to see strong growth in the next few years. It will grow to $34.63 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The anticipated growth in the forecast period can be attributed to factors such as the rise of printed electronics, increased demand for security imaging, a growing preference for sustainable solutions utilizing bio-based and renewable resources, and the adoption of functional imaging materials. Major trends expected in the forecast period include the digital transformation in imaging, advancements in photographic printing technologies, customization tailored for specialized applications, the development of smart imaging materials, and collaborative efforts driving innovation in the imaging chemicals industry.
The growth of the imaging chemicals market is being propelled by the increasing prevalence of cancer and brain disorders. Cancer, characterized by the uncontrolled division of abnormal cells, and brain disorders, affecting the central and peripheral nervous systems, are on the rise. This surge in diseases is fueling the demand for imaging chemicals, providing benefits such as real-time monitoring, precise location identification, and stage determination for cancer treatment. According to the EU Science Hub, new cancer cases increased by 2.3% in 2022, reaching 2.74 million, while the World Federation of Neurology highlights brain illnesses as a leading cause of mortality and disability. Thus, the market growth is expected due to the escalating prevalence of cancer and brain disorders.
The imaging chemicals market is anticipated to experience growth driven by the increasing prevalence of chronic diseases. Chronic diseases, characterized by their persistent nature, are being diagnosed, monitored, and managed using imaging chemicals. These chemicals act as contrast agents or tracers in various imaging modalities, facilitating the visualization of internal structures and aiding in the assessment of chronic conditions' progression. As reported by the Australian Bureau of Statistics, nearly three-quarters of Australians have at least one long-term health issue, with almost half of the population having at least one chronic disease. The use of imaging chemicals is crucial in managing such chronic conditions, contributing to the growth of the market.
A prominent trend in the imaging chemicals market is technological advancement. Major market players are focusing on developing advanced technologies to maintain their competitive edge. For example, Guerbet Group launched Elucirem (gadopiclenol) injection, a latest-generation gadolinium-based contrast agent (GBCA) for magnetic resonance imaging (MRI). This innovation offers the highest relaxivity in its category and requires half the gadolinium dosage of traditional GBCAs. The injection facilitates the detection and visualization of lesions in various body parts, addressing concerns about gadolinium exposure.
Strategic partnerships are gaining traction in the imaging chemicals market, with major companies collaborating for research, development, and commercialization efforts. Guerbet Group announced a strategic alliance with Bracco Imaging SpA, focusing on the production and R&D of gadopiclenol, a next-generation macrocyclic contrast agent. This collaboration aims to commercialize gadopiclenol separately under various trademarks, providing an improved solution for MRI. Bracco Imaging SpA, an Italy-based imaging company, brings its expertise to complement Guerbet's UNIK MRI solutions.
In August 2022, Saati Advanced Chemicals LLC, a US-based firm fully owned by Saati's USA subsidiary, Saati Americas Corp, acquired Ikonics Corporation. This strategic move aligns with SAATI's growth strategy and development. Ikonics Corporation, a US-based company, specializes in screen preparation chemicals, digital pre-press products, direct emulsions, and specialty inks.
Major companies operating in the imaging chemicals market report are Eastman Kodak Company, Agfa-Gevaert NV, Altana AG, BASF SE, Becton Dickinson and Company, Clariant Chemical Company, DIC Corporation, Dow Chemical Company, Flint Group S.A., FUJIFILM Holdings Corporation, Hubergroup Deutschland GmbH, Kao Corporation, Kodak Alaris Inc., Qingdao Scienoc Chemical Co., Sakata Inx Corp., Siegwerk Druckfarben AG & Co. KGaA, T&K TOKA Corporation, Toyo Ink SC Holdings Co. Ltd., Vivimed Labs Limited, Wikoff Color Corporation, Huntsman Corporation, Ashland Global Holdings Inc., Croda International plc, Dymax Corporation, Evonik Industries AG, Hexion Inc., Indorama Ventures Public Company Limited, Ingevity Corporation, Kemira Oyj, Merck Co. & KGaA .
Asia-Pacific was the largest region in the imaging chemicals market in 2023. The regions covered in the imaging chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the imaging chemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The imaging chemicals market consists of sales of binders, carriers, pigments, and additives used for imaging purposes. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.