The global radiation curable coatings market reached a value of US$ 7.3 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 10.2 Billion by 2027, exhibiting at a CAGR of 5.7% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Radiation curable coatings comprise reactive liquid, pigments, and additives that are cured using high-intensity radiation energy from visible light, ultraviolet (UV) energy, or low energy electrons (EB). These coatings have a long service life and high performance, require low energy costs, improve surface properties, and protect against corrosion. They also offer low levels of volatile organic compounds (VOCs) and enhance resistance against scratch, impact, abrasion, chemical, and mechanical. Consequently, they find applications in various end use industries to improve the durability, function, and aesthetic appeal of components and products made using glass, plastic, metal, and wood.
The extensive usage of radiation curable coatings in various industry verticals represents one of the key factors bolstering the market growth. For instance, they are employed in the automotive industry to manufacture scratch-resistant keyboards, key panels, gear levers, and other vehicle components. This, in confluence with the escalating demand for advanced infotainment systems in cars, is stimulating the market growth. Moreover, the emerging trend of automated products for household activities is driving the adoption of radiation curable coatings in making domestic electronic appliances, such as microwaves, ovens, dishwashers, and refrigerators. They also find usage in the printing and packaging of plastic bottles, eyeglass lenses, yogurt pots, polystyrene cups, advertising materials, and cellphone and television (TV) set casings. Apart from this, they find extensive application in the manufacturing of fiber optic cables that are widely used in internet cables to transmit large amounts of data at high speed. Furthermore, due to their easy installation and bond strength properties, the demand for radiation curable coatings is anticipated to expand in wood furniture and tubing steel pipes for oil drilling.
The publisher provides an analysis of the key trends in each sub-segment of the global radiation curable coatings market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on ingredient, type and application.
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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. and The Sherwin-Williams Company.
Radiation curable coatings comprise reactive liquid, pigments, and additives that are cured using high-intensity radiation energy from visible light, ultraviolet (UV) energy, or low energy electrons (EB). These coatings have a long service life and high performance, require low energy costs, improve surface properties, and protect against corrosion. They also offer low levels of volatile organic compounds (VOCs) and enhance resistance against scratch, impact, abrasion, chemical, and mechanical. Consequently, they find applications in various end use industries to improve the durability, function, and aesthetic appeal of components and products made using glass, plastic, metal, and wood.
Radiation Curable Coatings Market Trends:
The extensive usage of radiation curable coatings in various industry verticals represents one of the key factors bolstering the market growth. For instance, they are employed in the automotive industry to manufacture scratch-resistant keyboards, key panels, gear levers, and other vehicle components. This, in confluence with the escalating demand for advanced infotainment systems in cars, is stimulating the market growth. Moreover, the emerging trend of automated products for household activities is driving the adoption of radiation curable coatings in making domestic electronic appliances, such as microwaves, ovens, dishwashers, and refrigerators. They also find usage in the printing and packaging of plastic bottles, eyeglass lenses, yogurt pots, polystyrene cups, advertising materials, and cellphone and television (TV) set casings. Apart from this, they find extensive application in the manufacturing of fiber optic cables that are widely used in internet cables to transmit large amounts of data at high speed. Furthermore, due to their easy installation and bond strength properties, the demand for radiation curable coatings is anticipated to expand in wood furniture and tubing steel pipes for oil drilling.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global radiation curable coatings market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on ingredient, type and application.
Breakup by Ingredient:
- Oligomers
- Monomers
- Photoinitiators
- Additives
Breakup by Type:
- Ultraviolet Curing
- Electron Beam Curing
Breakup by Application:
- Paper and Film
- Printing Inks
- Plastics
- Wood
- Glass
- Others
Breakup by Region:
- 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
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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. and The Sherwin-Williams Company.
Key Questions Answered in This Report:
- How has the global radiation curable coatings market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global radiation curable coatings market?
- What are the key regional markets?
- What is the breakup of the market based on the ingredient?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global radiation curable coatings market and who are the key players?
- What is the degree of competition in the industry?
Frequently Asked Questions about the Global Radiation Curable Coatings Market
What is the estimated value of the Global Radiation Curable Coatings Market?
What is the growth rate of the Global Radiation Curable Coatings Market?
What is the forecasted size of the Global Radiation Curable Coatings Market?
Who are the key companies in the Global Radiation Curable Coatings Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 143 |
| Published | March 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 7.3 Billion |
| Forecasted Market Value ( USD | $ 10.2 Billion |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Radiation Curable Coatings Market
6 Market Breakup by Ingredient
7 Market Breakup by Type
8 Market Breakup by Application
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- 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.
Methodology
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