radiation shielding material market drivers, radiation shielding material market analysis, radiation shielding material market growth, radiation shielding material market size, radiation shielding material market share, radiation shielding material market trends, radiation shielding material market forecast
What are the latest figures on the radiation shielding material market’s size and projected CAGR?
The radiation shielding material market size has grown strongly in recent years. It will grow from $0.67 billion in 2024 to $0.72 billion in 2025 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to increasing use of ionizing radiation in medical imaging, increasing the demand for radiotherapy procedures, increasing prevalence of cancer, increasing awareness of radiation safety, and increasing healthcare expenditure.
The radiation shielding material market size is expected to see strong growth in the next few years. It will grow to $0.93 billion in 2029 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to growing usage of nuclear medicine, a growing number of diagnostic imaging procedures, a growing incidence of diseases requiring radiation therapy, a rising inclination towards medical imaging, and increasing investments in healthcare infrastructure. Major trends in the forecast period include diagnostic and therapeutic technologies, advancements in medical technology, advancements in material science, integration of nanotechnology, and advanced composites for lightweight solutions.
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Which Market drivers have played a significant role in driving the radiation shielding material market?
The increasing number of medical imaging procedures is expected to propel the growth of the radiation shielding material market going forward. Medical imaging procedures are diagnostic techniques that use various technologies such as X-rays, magnetic resonance imaging (MRI), or ultrasound to visualize the inside of the body for detecting and monitoring health conditions. The increasing number of medical imaging procedures can be attributed to advancements in imaging technology, the rising prevalence of chronic diseases, increased awareness and accessibility, and regulatory support for advanced healthcare technologies. Radiation shielding materials, such as lead and lead-free alloys, are used in medical imaging to protect patients and healthcare workers from harmful radiation exposure while enabling high-quality imaging. For instance, in November 2023, according to the National Health Service, a UK-based government department, in the year ending March 2023, England recorded 45.0 million imaging tests, reflecting a 2.2% increase compared to 44.0 million in the previous year. Therefore, the increasing number of medical imaging procedures is driving the radiation shielding material market.
What are the key segments within the radiation shielding material market?
The radiation shielding material market covered in this report is segmented –
1) By Type: Electromagnetic Radiation, Particle Radiation
2) By Material: Lead Shielding, Lead Composite Shielding, Non-Lead And Lead Free Shielding
3) By Form: Sheets, Blocks, Bricks, Panels, Castings
4) By Application: Diagnostic X-Ray Room Shielding, CT Scanner Shielding Facility, MRI Room Shielding, Nuclear Medicine Imagingshielding, Radiotherapy Shielding, Radiation Protection Safety Aprons And Apparel And Equipments
5) By End User: Healthcare, Manufacturing, Construction, Energy, Research
Subsegments:
1) By Electromagnetic Radiation: X-Rays, Gamma Rays, Ultraviolet (UV) Radiation, Microwaves, Radiofrequency (RF) Radiation
2) By Particle Radiation: Neutron Radiation, Alpha Particles, Beta Particles, Heavy Ions
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Which key players are shaping the radiation shielding material market?
Major companies operating in the radiation shielding material market are General Electric Healthcare, L3Harris Technologies Inc., ESCO Technologies Inc., Mirion Technologies Inc., Ultraray Group Inc., ETS-Lindgren Inc., Berthold Technologies GmbH And Co.KG, Nelco Worldwide, Wardray Premise Ltd., Dynalab Corp., Techno-Aide Inc., Alimed Inc., Universal Shielding Corporation, MarShield Radiation Protection Services Inc, Veritas Medical Solutions, Plastic Design Inc, Tungsten Heavy Powder And Parts Inc., Amray Medical Limited, Ray-Bar Engineering Corporation, A And L Shielding Inc, MWT Materials Inc., Nuclear Lead Co. Inc, Protech Medical Inc, Radiation Shielding Technologies Inc., XrayCurtains.com
How will emerging trends drive the radiation shielding material market throughout the forecast period?
Major companies operating in the radiation shielding material market are focusing on developing innovative products, such as polymer tungsten for radiation shielding, to enhance radiation protection while reducing weight and improving durability for various industrial applications. Polymer tungsten for radiation shielding refers to a composite material made by combining tungsten with a polymer matrix, offering an effective, lightweight alternative to traditional lead-based shielding. For instance, in November 2024, Stanford Advanced Materials (SAM), a US-based manufacturing company, launched Polymer Tungsten, an innovative radiation shielding material that combines tungsten powder with polymer resins. This new product offers a flexible and environmentally friendly alternative to traditional lead-based shielding, which poses health risks due to its toxicity. Polymer tungsten retains high radiation resistance while being easier to shape and work with, making it suitable for applications in medical equipment such as X-ray machines and computed tomography (CT) scanners.
How do regional factors impact the radiation shielding material market, and which region is the largest contributor?
North America was the largest region in the radiation shielding material market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the radiation shielding material market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Radiation Shielding Material Market Report 2025 Offer?
The radiation shielding material market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Radiation shielding materials refer to substances designed to protect individuals, equipment, or environments from harmful ionizing radiation, such as X-rays, gamma rays, and neutron radiation. These materials work by absorbing or scattering radiation, thereby reducing its intensity and mitigating its potential effects.
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