Radiation Curable Coatings Market Growth, Trends and Opportunity 2024-2032
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.
Explore full report with table of contents: https://www.imarcgroup.com/radiation-curable-coatings-market
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 market is expanding because to the rising demand for radiation-curable coatings in important end-use sectors like packaging, electronics, and automobiles. These coatings improve the longevity and attractiveness of vehicles in the automotive sector by offering higher finish quality, resistance to environmental conditions, and endurance. Radiation curable coatings are utilized in the electronics sector to ensure the performance and dependability of electronic components while also serving as protective layers. These coatings are advantageous to the packaging sector because of their quick curing times and capacity to produce high-quality, long-lasting finishes that are necessary for both product protection and consumer appeal.
Furthermore, ongoing research and development (R&D) initiatives are producing better and innovative radiation-curable coatings that can satisfy certain industry demands.
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.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact US
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163