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Global Radiation Curable Coatings Market Outlook to 2026

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  • 162 Pages
  • October 2021
  • Region: Global
  • BlueQuark Research & Consulting
  • ID: 5459718
Radiation-curable coatings are formulated materials which cross-linked or cured using high-intensity radiation, and their formulation contains a reactive liquid vehicle, pigments, and conventional additives. According to the publisher, the global radiation-curable coatings market is expected to witness a considerable growth rate during the forecasted period. Factors, Global demand for infrastructure projects results in surging in the wood coating has primarily driven the radiation-cured coating market. The development of new technologies has boosted the market further. Rising steel demand from these industries energies demand for radiation-cured coating. Additionally, growing environmental compliance of the technology is also driving the market of radiation-curable coatings. Radiation curable coating using UV technology offer an advantage, such as the ability to coat on heat-sensitive, improving performance that is scratch & stain resistance of the plastics. Such benefits are driving the growth of radiation-cured coating on plastics. However, the high price of raw materials of radiation curable coatings can hinder the market's development.

Radiation cured coatings are used for a variety of materials such as wood, glass, plastics, paper and also used as temporary & permanent protective coatings for metal tubes & pipes, fence posts, electrical conduit, sprinkler system mechanical tubing, and are also used as protective films for construction steel and aluminum.

The demand for radiation-curable coatings is primarily driven by multiplication in infrastructure activities resulting in the surging demand for wood coatings. Increased spending on housing and interior designing across various developed nations is projected to have profitable growth opportunities for the overall radiation-curable coating market. Radiation curing systems, which are environmentally sound, save energy & emit virtually no VOCs, are increasing, enabling companies to produce products faster, more efficiently, & with better end-use product performance & longevity. Urethane acrylate UV curable coatings are noted for their high performance. So they gained widespread acceptance because of their overall balance of properties, high impact & tensile strength, abrasion resistance & toughness combined with excellent resistance to chemicals & solvents. Moreover, environmental compliance with this technology has also contributed to the growth of the market. Radiation is a technology that produces minimal waste is later disposed of as ordinary waste. The global industry for radiation cure coatings exhibits a high degree of backward integration owing to most radiation cure coating manufacturers engaged in producing feedstock materials.

Some market key players are The Sherwin - Williams Company, PPG Industries Inc., Axalta Coating System, Watson Coating Inc., Royal DSM N V., and AkzoNobel NV.

Asia Pacific region accounted for the largest radiation-curable coating market in terms of volume due to significant manufacturing hubs in the area, accompanied by rising spending in the industrial sector and infrastructure developments in developing countries such as China, India & Indonesia. Radiation curable coating is gaining widespread acceptance in many niche applications due to advantages including ease of use, fast cure & low-temperature healing. Economic benefits, rapid curing & drying, low energy consumption during the manufacturing process, and superior hardness & abrasion resistance properties of these coatings have also contributed to the market's growth. Radiation repairable coated products benefit the Burgeoning food & Non-food packaging Industry due to its strong growth in the food packaging sector. Printed electronics also has a high growth market for radiation-cured coatings. Paper industry demand for deinkable radiation cured inks. Ultra Violet curable coatings & inks are being increasingly produced, which exhibit the potential for widespread consumption in transdermal patches, electroluminescent, portable photovoltaics, and organic light-emitting diodes. Moreover, the increasing trend towards implementing bio-based materials in radiation cure products is also expected to provide new opportunities for the market's growth. However, in North-America, a moderate growth rate is anticipated due to saturation in existing applications or end-use industries driven in the region. These will be driven by developments of new applications like water-based UV coatings, field, applied floor coating, inkjets, among others.

July 2019, For wood-burning, was demonstrated through new Amarium Pre-Catalyzed Lacquers technology fromAxalta Coatings System.

Global Radiation Curable Coating Market report provides deep insight into the Industrial market’s current and future state across various regions. The study comprehensively analyses the Radiation Curable Market by segmenting based on Raw Materials (Oligomers, Monomers, Photoinitiators, Additives), Formulation (Ultraviolet curing, Electron Beam curing) Applications (Wood, Industrial, Paper & Film, Printing Inks, Plastics, Electronic Products, Glass, Adhesives, Others) . The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers and includes emerging market trends, development, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.

Table of Contents

1. Executive Summary
2. Research Scope and Methodology
2.1 Aim & Objective of the study
2.2 Market Definition
2.3 Study Information
2.4 General Study Assumptions
2.5 Research Phases
3. Market Analysis
3.1 Introduction
3.2 Market Dynamics
3.2.1 Drivers
3.2.2 Restraints
3.3 Market Trends & Developments
3.4 Market Opportunities
3.5 Regulatory Policies
3.6 Analysis of Covid-19 Impact
4. Industry Analysis
4.1 Supply Chain Analysis
4.2 Porter's Five Forces Analysis
4.2.1 Competition in the Industry
4.2.2 Potential of New Entrants into the Industry
4.2.3 Bargaining Power of Suppliers
4.2.4 Bargaining Power of Consumers
4.2.5 Threat of substitute products
5. Market Segmentation & Forecast
5.1 By Raw Material
5.1.1 Oligomers
5.1.2 Monomers
5.1.3 Photoinitiators
5.1.4 Additives
5.2 By Formulation
5.2.1 Ultraviolet Curing
5.2.2 Electro Beam Curing
5.3 By Application
5.3.1 Wood
5.3.2 Industrial
5.3.3 Printing Inks
5.3.4 Paper & Film
5.3.5 Electronic Products
5.3.6 Adhesives
5.3.7 Glass
5.3.8 Others
6. Regional Market Analysis
6.1 North America
6.1.1 United States
6.1.2 Canada
6.1.3 Mexico
6.2 Europe
6.2.1 Germany
6.2.2 United Kingdom
6.2.3 Italy
6.2.4 France
6.2.5 Spain
6.2.6 Rest of Europe
6.3 Asia-Pacific
6.3.1 China
6.3.2 India
6.3.3 Japan
6.3.4 South Korea
6.3.5 Rest of Asia-Pacific
6.4 South America
6.4.1 Brazil
6.4.2 Argentina
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 South Africa
6.5.2 Saudi Arabia
6.5.3 Rest of Middle East & Africa
7. Key Company Profiles
7.1 Akzo Nobel N.V.
7.2 PPG Industries, Inc.
7.3 Sherwin-Williams Company
7.4 Axalta Coating System
7.5 Hempel A/S
7.6 Chugoku Marine Paints Ltd.
7.7 Watson Coating Inc
7.8 Yips Chemical Holding Ltd.
7.9 Royal DSM
7.10 Chongquing Changfeng
7.11 BASF SE
7.12 Evonik Industries
7.13 Bayer Material Science AG
7.14 Dainichiseika Color & Chem MFG Co., Ltd.
7.15 Cytec Corporation
*List of companies is not exhaustive
8. Competitive Landscape
8.1 List of Notable Players in the Market
8.2 M&A, JV, and Agreements
8.3 Market Share Analysis
8.4 Strategies of Key Players
9. Conclusions and Recommendations

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Akzo Nobel N.V.
  • PPG Industries Inc.
  • Sherwin-Williams Company
  • Axalta Coating System
  • Hempel A/S
  • Chugoku Marine Paints Ltd.
  • Watson Coating Inc
  • Yips Chemical Holding Ltd.
  • Royal DSM
  • Chongquing Changfeng
  • Evonik Industries
  • Bayer Material Science AG
  • Dainichiseika Color & Chem MFG Co. Ltd.
  • Cytec Corporation