Radiation Cured Coatings Market to Grow with a CAGR of 4.06% through 2028
High Performance and Durability and Environmental
sustainability are the factors driving the Global Radiation Cured Coatings
market in the forecast period 2024-2028.
According to TechSci Research report, “Radiation
Cured Coatings Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Radiation Cured Coatings
Market stood at USD 19.92 billion in 2022 and is anticipated to grow with a
CAGR of 4.06% in the forecast period, 2024-2028. Radiation-cured coatings have emerged as a
revolutionary technology in the coatings industry, offering a swift and
efficient way to achieve high-quality finishes across various substrates. These
coatings, commonly known as UV or electron-beam (EB) cured coatings, have
witnessed a surge in demand owing to their eco-friendly nature, quick curing
times, and superior performance characteristics.
The radiation-cured coatings market represents a
transformative shift in the coatings industry, offering a blend of
environmental sustainability, efficiency, and high performance. As the market
matures, addressing cost concerns and expanding the range of applications will
be pivotal in ensuring sustained growth. With ongoing research and development,
the future looks radiant for this innovative and eco-friendly coating
technology.
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Cured Coatings Market”
Global Radiation Cured Coatings Market is segmented
into raw material , application, regional distribution, and company
Monomers are the reactive components that, when
polymerized, contribute to the final structure of the coating. The selection of
monomers influences properties such as hardness, chemical resistance, and
curing speed. The ability to fine-tune these characteristics is central to the
versatility of radiation-cured coatings, allowing for customization to meet
diverse industry requirements.
Photo initiators are the catalysts that kickstart the
curing process when exposed to radiation. They absorb energy and initiate the
crosslinking reactions, transforming liquid coatings into solid, durable films.
Advances in photo initiator technology focus on enhancing efficiency, reducing
cure times, and expanding the range of wavelengths for curing, providing
flexibility in curing processes.
Additives serve a multifaceted role in radiation-cured
coatings. From imparting specific functionalities to enhancing performance
characteristics, additives play a pivotal role. UV stabilizers, antioxidants,
antimicrobial agents, and surface modifiers are just a few examples of
additives that contribute to the coatings' durability, longevity, and
environmental adaptability.
The pulp and paper industry has integrated
radiation-cured coatings into its processes to enhance print quality and
efficiency. Coated papers benefit from improved ink adhesion, reduced drying
times, and superior surface properties, contributing to the production of
high-quality printed materials with enhanced visual appeal.
Printing inks formulated with radiation-cured coatings
have become synonymous with precision. UV-curable inks, for instance, offer
rapid curing on various substrates, resulting in high-quality prints with
vibrant colors and sharp details. The flexibility of these inks caters to the
diverse needs of the printing industry, from packaging to signage.
The wood industry has embraced radiation-cured
coatings for protective and decorative purposes. In applications such as
furniture, flooring, and cabinetry, these coatings provide a seamless blend of
protection against wear and tear while enhancing the aesthetic appeal of wood
surfaces. The ability to achieve a balance between durability and visual appeal
is a hallmark of radiation-cured coatings in wood applications.
The robust growth of the automotive and electronics
sectors in the Asia-Pacific region is a significant driving force for the
radiation-cured coatings market. As these industries demand coatings with
superior performance, durability, and rapid curing capabilities,
radiation-cured formulations emerge as a preferred choice, ensuring efficiency
in production processes and high-quality finishes.
Environmental sustainability is a key concern across
industries in the Asia-Pacific region. Radiation-cured coatings, with their low
VOC content and eco-friendly formulations, align perfectly with the region's
commitment to green practices. The emphasis on sustainable coatings is driving
the adoption of radiation-cured technologies in industries ranging from
manufacturing to construction.
The Asia-Pacific region is a hotbed for innovations in
coating technologies, including formulations used in radiation-cured coatings.
Research and development efforts in countries like South Korea and Japan are
contributing to advancements in photoinitiators, oligomers, and additives,
enhancing the performance and versatility of radiation-cured coatings.
The region is witnessing strategic investments and
collaborations among key players in the coatings industry. Local and global
companies are recognizing the potential of the Asia-Pacific market and are
actively engaging in partnerships, joint ventures, and expansions. This not
only boosts the production capacity of radiation-cured coatings but also
fosters knowledge exchange and technological advancements.
Major companies operating in Global Radiation
Cured Coatings Market are:
- Dow Chemical Company
- PPG Industries
- The Sherwin-Williams Company
- Akzo Nobel N.V.
- ICA SpA
- Axalta Coating Systems
- Covestro AG
- The Lubrizol Corporation
- NEI Corporation
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“Innovation in the radiation-cured coatings market
extends beyond conventional protective and decorative applications. Recent
developments involve the incorporation of smart functionalities into coatings.
These functionalities include self-healing properties, anti-microbial features,
and enhanced resistance to external factors. Smart coatings are finding
applications in industries such as electronics, healthcare, and automotive,
where additional functionalities are increasingly valued. From waterborne formulations to smart coatings and
advancements in curing technologies, these developments position
radiation-cured coatings as a transformative solution in the ever-evolving
coatings landscape. As research and development efforts continue, we can
anticipate further breakthroughs that will shape the future of this dynamic and
vital market.,” said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based management consulting firm.
“Radiation Cured Coatings Market – Global Industry
Size, Share, Trends, Opportunity, & Forecast 2018-2028 Segmented By Raw
Material (Oligomers, Monomers, Photo initiators, Additives), By Application
(Adhesives, Pulp and Paper, Printing Inks, Wood, Glass, Others), By Region,
Competition”, has evaluated the future growth potential of Global Radiation Cured
Coatings Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Radiation Cured
Coatings Market.
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