Market Overview:
In the market, imaging chemicals are available in the form of various products namely imaging agents & toners, printing inks, image developers, anti-fogging agents, and others. Among these product types, the imaging agents & toners segment is expected to grow significantly due to the high investments in R&D, new product development, and their rising use in medical diagnosis. Some of the imaging agents widely used are tetraxetan & its derivatives for MRI, contrast agents containing iodine for X-ray, fluorescent imaging agents for funduscopy/ ophthalmoscopy, and others. Printing inks remain the second largest contributor owing to the growth of the printing & packaging and textile printing applications. Printing inks are used as binders, carriers, additives, and pigments in these applications, which is likely to propel the market growth. The anti-fogging agents are used in both film and paper developing to prevent fogging or blurring of the image by enhancing the image contrast boundaries, preventing bleed of silver halide crystals during exposure and development.
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The application segment of imaging chemicals market includes medical diagnostics, packaging & printing, textile processing, mining, and others. The medical diagnostics application is the dominating the global imaging chemicals owing to the rising geriatric population and increasing cancer-related incidences across the globe. Furthermore, increasing health awareness amongst the consumers coupled with the high spending in health treatment is likely to fuel the demand for imaging chemicals in the medical sector. The technological advancements in packaging and textile processing are one of the factors projected to augment the market growth over the forecast period.
Regional Analysis
The global imaging chemicals market is spanned across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia Pacific accounted for the largest market share in 2017 on account of the increasing demand from the medical sector. This growth can be attributed to the rising geriatric population and the health awareness amongst the consumers coupled with high disposable income of the people in this region.
The high demand from the medical, packaging, and mining applications is expected to drive the imaging chemicals market in North America.
Europe is projected to witness a significant growth due to the huge investment in the medical and healthcare sector in the region.
Competitive Analysis
Some of the manufacturers operating in the global imaging chemicals market are Eastman Kodak Company (U.K), Vivimed Labs (India), DIC CORPORATION (Japan), Flint Group (Luxembourg), SAKATA INX CORPORATION (Japan), TOYO INK SC HOLDINGS CO., LTD. (Japan), Siegwerk Druckfarben AG & Co. KGaA (Germany), T&K TOKA Corporation (Japan), Fujifilm (Japan), and Qingdao Scienoc Chemical Co., Ltd (China).
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