IMARC Group’s report titled “Radiation Curable Coatings Market Report by Ingredient (Oligomers, Monomers, Photoinitiators, Additives), Type (Ultraviolet Curing, Electron Beam Curing), Application (Paper and Film, Printing Inks, Plastics, Wood, Glass, and Others), and Region 2024-2032“, The global radiation curable coatings market size reached US$ 8.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 11.9 Billion by 2032, exhibiting a growth rate (CAGR) of 4.3% during 2024-2032.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/radiation-curable-coatings-market/requestsample
Factors Affecting the Growth of the Radiation Curable Coatings Industry:
- Environmental Regulations and Sustainability:
Environmental regulations aimed at reducing emissions of volatile organic compounds (VOCs) are impelling the market growth. Traditional solvent-based coatings release significant amounts of VOCs, contributing to air pollution and health issues. Governing authorities of various countries are implementing stringent standards to limit VOC emissions, encouraging industries to seek eco-friendly alternatives. Radiation curable coatings have low or zero-VOC formulations that provide an eco-friendly solution and comply with these regulations. Additionally, the sustainability aspect of these coatings, including lower energy consumption during the curing process and minimal waste generation, aligns with the growing global emphasis on sustainable manufacturing practices.
- Technological Advancements:
Innovations in ultraviolet (UV) and electron beam (EB) curing technologies are supporting the market growth. Advancements in these curing processes are enhancing the efficiency, speed, and quality of coatings applications. Improved UV curing lamps and EB equipment allow for faster curing times and higher throughput, which is particularly beneficial in high-volume manufacturing settings. Additionally, innovations in coating formulations, such as the development of new photoinitiators and resins, are expanding the range of applications and improving the performance characteristics of the coatings. These technological improvements are leading to coatings that offer better durability, scratch resistance, and overall finish quality.
- Economic and Operational Efficiency:
Radiation curable coatings offer significant economic and operational efficiencies. Radiation curing is much faster, unlike traditional thermal curing processes. This rapid curing time translates into increased production speed and higher throughput, which is highly beneficial in manufacturing environments where time is a critical factor. Moreover, the energy consumption of radiation curing is generally lower as compared to thermal curing, leading to cost savings on energy bills. These coatings also lower the need for large drying and curing ovens, saving on capital expenditures and floor space.
Leading Companies Operating in the Global Radiation Curable Coatings Industry:
- 3M Company
- Akzo Nobel N.V.
- Allnex (PTT Global Chemical Public Company Limited)
- Ashland Global Specialty Chemicals Inc.
- Axalta Coating Systems Ltd.
- BASF SE, DIC Corporation
- Dymax Corporation
- Evonik Industries AG
- Momentive Performance Materials Inc.
- PPG Industries Inc.
- The Sherwin-Williams Company.
Radiation Curable Coatings Market Report Segmentation:
By Ingredient:
- Oligomers
- Monomers
- Photoinitiators
- Additives
On the basis of the ingredient, the market has been divided into oligomers, monomers, photoinitiators, and additives.
By Type:
- Ultraviolet Curing
- Electron Beam Curing
Based on the type, the market has been bifurcated into ultraviolet curing and electron beam curing.
By Application:
- Paper and Film
- Printing Inks
- Plastics
- Wood
- Glass
- Others
On the basis of the application, the market has been classified into paper and film, printing inks, plastics, wood, glass, and others.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific enjoys the leading position in the radiation curable coatings market on account of the growing emphasis on environment friendly and sustainable coatings solutions.
Global Radiation Curable Coatings Market Trends:
The growing demand for radiation curable coatings in key end-use industries, such as automotive, electronics, and packaging, is impelling the market growth. In the automotive industry, these coatings provide superior finish quality, durability, and resistance to environmental factors, enhancing vehicle aesthetics and longevity. In the electronics industry, radiation curable coatings are used for protective and decorative purposes, ensuring the reliability and performance of electronic components. The packaging industry benefits from these coatings due to their fast-curing times and ability to provide high-quality and durable finishes essential for consumer appeal and product protection.
In addition, continuous research and development (R&D) efforts are leading to the development of new and improved radiation curable coatings that can meet specific industry requirements.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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