Radiation Curable Coatings Market Size (2024 - 2029)

The radiation curable coatings market is experiencing growth driven by its advantageous properties such as rapid curing, drying, superior hardness, and abrasion resistance, which enhance its application in plastics, wood, and metal coatings. The market size is further supported by the coatings' low VOC emissions and excellent mechanical and chemical resistance. However, the high cost of raw materials poses a challenge to the market's expansion.

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Market Size of Radiation Curable Coatings Industry

Radiation Curable Coating Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 6.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Radiation Curable Coating Market Key Players

*Disclaimer: Major Players sorted in no particular order

Radiation Curable Coatings Market Analysis

The global radiation curable coatings market has anestimated CAGR of over 6% over the forecast period.One of the most important drivers for global radiation curable coatings market is its properties, like rapid curing, drying, superior hardness, and abrasion resistance, due to which, radiation-cured technology has found applications in plastics, wood, and metal coatings.

  • Apart from these properties, low VOC emissions, along with excellent mechanical and chemical resistance, add value to the radiation-cured coatings.
  • On the flipside, high raw material cost is expected to hinder the market growth.

Radiation Curable Coatings Industry Segmentation

The global radiation curable coatings market report includes:

Application
Industrial
OP Lacquers
Electronics
Printing Inks
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
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Radiation Curable Coatings Market Size Summary

The radiation curable coatings market is experiencing significant growth, driven by their advantageous properties such as rapid curing, superior hardness, and abrasion resistance. These coatings are increasingly applied in various sectors, including plastics, wood, and metal, due to their low VOC emissions and excellent mechanical and chemical resistance. Despite the high cost of raw materials posing a challenge, the demand for radiation curable coatings continues to rise, particularly in industrial applications where they provide corrosion protection and enhance the durability of metal substrates. The use of UV technology in these coatings allows for application on heat-sensitive substrates, further boosting their appeal in the market.

In the Asia-Pacific region, countries like China, India, and Japan are leading consumers of radiation curable coatings, with regulatory standards influencing market dynamics. China's stringent regulations on VOC levels and India's focus on meeting environmental standards are expected to support market growth in the region. The global market is partially consolidated, with major players such as The Sherwin-Williams Company, PPG Industries Inc., Axalta Coating Systems Ltd LLC, BASF SE, and Akzo Nobel NV playing significant roles. These companies are pivotal in driving innovation and meeting the growing demand for radiation curable coatings across various applications.

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Radiation Curable Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Desirable Properties, like Fast Curing, Hard, and Chemical resistant

      2. 1.1.2 Rise in Adoption of Solvent-free Technologies to Comply with the Environmental Regulations

    2. 1.2 Restraints

      1. 1.2.1 High Material Cost

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Application

      1. 2.1.1 Industrial

      2. 2.1.2 OP Lacquers

      3. 2.1.3 Electronics

      4. 2.1.4 Printing Inks

      5. 2.1.5 Other Applications

    2. 2.2 Geography

      1. 2.2.1 Asia-Pacific

        1. 2.2.1.1 China

        2. 2.2.1.2 India

        3. 2.2.1.3 Japan

        4. 2.2.1.4 South Korea

        5. 2.2.1.5 Rest of Asia-Pacific

      2. 2.2.2 North America

        1. 2.2.2.1 United States

        2. 2.2.2.2 Canada

        3. 2.2.2.3 Mexico

      3. 2.2.3 Europe

        1. 2.2.3.1 Germany

        2. 2.2.3.2 United Kingdom

        3. 2.2.3.3 Italy

        4. 2.2.3.4 France

        5. 2.2.3.5 Rest of Europe

      4. 2.2.4 South America

        1. 2.2.4.1 Brazil

        2. 2.2.4.2 Argentina

        3. 2.2.4.3 Rest of South America

      5. 2.2.5 Middle East & Africa

        1. 2.2.5.1 Saudi Arabia

        2. 2.2.5.2 South Africa

        3. 2.2.5.3 Rest of Middle East & Africa

Radiation Curable Coatings Market Size FAQs

The Radiation Curable Coatings Market is projected to register a CAGR of less than 6% during the forecast period (2024-2029)

The Sherwin-Williams Company, PPG Industries Inc., Axalta Coating Systems Ltd LLC, BASF SE and Akzo Nobel N.V. are the major companies operating in the Radiation Curable Coatings Market.

Radiation Curable Coatings Market Report Snapshots

Radiation Curable Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)