Radiation Curable Coatings Market Outlook 2024-2033: Trends and Projections
Radiation Curable Coatings Market Expansion 2024-2033: Growth Drivers and Dynamics
Global Radiation Curable Coatings Market Analysis 2024: Size Forecast and Growth Prospects
Radiation Curable Coatings Market 2024-2033: Technological Advancements, Competitive Landscape and Strategies
Global Radiation Curable Coatings Market Overview 2024: Size, Growth Rate, and Segments
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The radiation curable coatings global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Radiation Curable Coatings Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The radiation curable coatings market size has grown strongly in recent years. It will grow from $7.67 billion in 2023 to $8.21 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to environmental regulations and voc compliance, demand for fast curing solutions, growing end-use industries, increased awareness of sustainability, performance benefits and enhanced durability.
The radiation curable coatings market size is expected to see strong growth in the next few years. It will grow to $10.25 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to continued regulatory emphasis on voc reduction, expansion of high-performance coatings market, growth in emerging applications, increased adoption in the packaging industry, demand for sustainable coating solutions. Major trends in the forecast period include focus on digital printing technologies, technological innovations in uv/eb systems, advancements in uv/eb technology, growing adoption in end-user industries, advancements in formulations and technology.
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Scope Of Radiation Curable Coatings Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Radiation Curable Coatings Market Overview
Market Drivers –
The growing automotive industry is anticipated to fuel the radiation-curable coatings market going forward. The automotive industry refers to the design, manufacturing, and sale of vehicles, including cars, trucks, motorcycles, and other related vehicles and components. Radiation-curable coatings are used in automotive applications to provide fast-curing, durable finishes, enhancing efficiency and environmental sustainability in the coating process. For instance, in May 2023, according to the European Automobile Manufacturers Association (ACEA), a Belgium-based association, globally, 85.4 million motor vehicles were produced in 2022, an increase of 5.7% compared to 2021. Therefore, the growing automotive industry is driving the growth of the radiation-curable coatings market.
Market Trends –
Major companies in the radiation-curable coatings market are focused on developing innovative coatings, such as TEGO Rad 2330 for radiation-curing coatings and inks, to address the high customer demand in the printing inks industry. TEGO Rad 2330 is a new, highly crosslinkable additive for radiation-curing coatings and inks. It is designed for use in a wide range of ink and varnish applications, as well as clear and pigmented wood coatings. For instance, in October 2023, Evonik Industries, a Germany-based specialty chemicals company, launched its TEGO Rad 2330, a highly cross-linkable additive for radiation-curing coatings and inks, offering benefits such as wetting, anti-crater properties, low foaming, and compatibility with traditional and UV-LED curing methods. It is specifically designed for inks, varnishes, and wood coatings. This product is characterized by several key features, including excellent substrate wetting, good slip properties, non-foaming, strong surface tension reduction, anti-crater effect, slip and release, and excellent low foaming.
The radiation curable coatings market covered in this report is segmented –
1) By Type: Uv Curable Coatings, EB Curable Coatings
2) By Function: Scratch-Resistant, Uv Protection, Chemical Resistant, High-Gloss, Matte and Satin
3) By Application: Paper and Film coatings, Printing Inks, Wood , Plastics, Electronic Products, Other Applications
4) By End Use: Wood Coatings, Metal Coatings, Plastic Coatings, Printed Materials, Electronic Components, Optical Coatings, Automotive Coatings, Aerospace Coatings, Other End User
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Regional Insights –
North America was the largest region in the radiation curable coatings market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the radiation curable coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the radiation curable coatings market report are BASF SE, Bayer Material Science AG , The Sherwin-Williams Company, Evonik Industries AG, Covestro AG, PPG Industries Inc, Arkema Group, Akzo Nobel NV, Royal DSM NV, DIC Corporation, Axalta Coating Systems, Asian Paints, Ashland Global Holdings Inc, Yips Chemical Holding Ltd, Toyo Ink SC Holdings Co Ltd, Allnex Group, Lamberti SpA, IGM Resins BV, Miwon Speciality Chemical Co Ltd, Red Spot Paint & Varnish Co Inc, Dymax Corporation, Sartomer USA LLC, Bomix Chemie GmbH, Soltech Ltd, Sericol Ltd, Chugoku Marine Paints Ltd, Watson Coating Inc, Alpha Coating Technologies, Hempel A/S
Table of Contents
1. Executive Summary
2. Radiation Curable Coatings Market Report Structure
3. Radiation Curable Coatings Market Trends And Strategies
4. Radiation Curable Coatings Market – Macro Economic Scenario
5. Radiation Curable Coatings Market Size And Growth
…..
27. Radiation Curable Coatings Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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