Global Radiation Curable Coatings Market Size By Raw Materials, By Application, By Geographic Scope And Forecast

Radiation Curable Coatings Market Size And Forecast

Radiation Curable Coatings Market size was valued at USD 7.08 Billion in 2023 and is projected to reach USD 20.5 Billion by 2030, growing at a CAGR of 6% from 2024 to 2030.

Global Radiation Curable Coatings Market Drivers

The market drivers for the Radiation Curable Coatings Market can be influenced by various factors. These may include

• Sustainability and Environmental Rules Demand for radiation-curable coatings is being driven by stricter rules against solvent-based coatings and an increasing focus on ecologically friendly products. These coatings are a recommended option for sustainable practices because they release little to no volatile organic compounds (VOCs).
• Technological Advancements By improving the effectiveness, performance, and range of applications of radiation curable coatings, advances in electron beam and UV curing technologies are propelling the market upward.
• Strong Performance and Durability Radiation curable coatings are perfect for a wide range of applications across industries because they have excellent qualities like strong scratch resistance, quick curing periods, and increased durability.
• Growing End-Use Industry Demand Because of their superior performance qualities and advantages for the environment, radiation curable coatings are highly sought after by the wood, electronics, automotive, and packaging industries.
• Cost-effectiveness and Energy Efficiency Radiation curing technologies are an appealing alternative for manufacturers due to their lower operating costs, which are a result of their reduced energy usage and shorter production cycles.
• Growing Urbanisation and Industrialization The need for high-performance coatings in the consumer goods, infrastructure, and building industries is increased by the fast urbanisation and industrialization of the world, especially in emerging economies.

Global Radiation Curable Coatings Market Restraints

Several factors can act as restraints or challenges for the Radiation Curable Coatings Market. These may include

• High Initial Investment Small and medium-sized businesses may be discouraged from implementing radiation curing technologies because to the setup costs associated with UV and electron beam curing systems, which can be very expensive.
• Technical Complexity Because not all businesses have the necessary technical skill, the necessity for specialised knowledge and expertise to operate and maintain radiation curing devices might be a barrier.
• Cost and Limited Availability of Raw Materials The development of the radiation curable coatings market can be hindered by the high cost and limited availability of raw materials.
• Limited Penetration in emerging Regions Due to financial limitations and a lack of knowledge, sophisticated coating technologies are adopted more slowly in emerging regions, which has an effect on market expansion.
• Health and Safety Concerns Strict safety procedures must be followed while handling and being exposed to radiation sources in order to prevent health risks. This can make implementation more difficult and discourage some businesses from utilising these coatings.
• Compatibility Issues The application range of radiation curable coatings is limited, potentially impeding market expansion, as not all substrates are compatible with them.

Global Radiation Curable Coatings Market Segmentation Analysis

The Global Radiation Curable Coatings Market is segmented on the basis of Raw Materials, Application, and Geography.

Radiation Curable Coatings Market, By Raw Materials

• Oligomers
• Monomers
• Additives
• Photoinitiators

Radiation Curable Coatings Market, By Application

• Paper & Film Coatings
• Printing Inks
• Wood
• Plastics
• Electronic Products

Radiation Curable Coatings Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of The World

Key Players

• BASF
• DSM
• Cytec
• DIC
• Akzo Nobel
• Alpha Coating technologies
• Arkema
• Asian Paints
• Axalta Coating Systems
• Berger Paints
• AkzoNobel N.V.
• PPG Industries, Inc.
• The Sherwin-Williams Company

Report Scope

Research Methodology of Market Research

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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