The Global Radiation Cured Coatings Market, valued at approximately USD 9.66 billion in 2023, is projected to expand at a CAGR of 5.48% during the forecast period 2024-2032, reaching an estimated value of USD 15.61 billion by 2032. Radiation-cured coatings, widely recognized for their environmentally friendly and energy-efficient curing processes, have become indispensable in industries ranging from automotive to electronics. These coatings leverage advanced curing technologies such as ultraviolet (UV) and electron beam (EB) systems to deliver enhanced performance, reduced curing times, and minimal environmental impact, making them a favored choice across diverse sectors.
A surge in demand for high-performance, eco-friendly coatings in automotive and industrial applications, coupled with advancements in UV and EB curing technologies, is driving market growth. Radiation-cured coatings are extensively used in packaging to ensure superior aesthetics and functionality, while the electronics sector benefits from their precision and durability. Despite the growth opportunities, the market faces challenges such as high initial investments in curing equipment and technical complexities. However, ongoing innovations in advanced curing techniques and the development of bio-based formulations are expected to address these hurdles effectively.
Regionally, North America leads the market owing to its established automotive and packaging industries and increasing adoption of eco-friendly technologies. Europe, with its stringent environmental regulations and a strong focus on sustainable practices, maintains a significant market share. Meanwhile, the Asia-Pacific region is anticipated to witness the fastest growth due to rapid industrialization, increased investments in infrastructure, and expanding automotive and electronics sectors in emerging economies like China and India.
Major market players included in this report are:
AkzoNobel N.V.
BASF SE
PPG Industries, Inc.
The Sherwin-Williams Company
Valspar Corporation
Covestro AG
Evonik Industries AG
Royal DSM N.V.
Arkema S.A.
Allnex Group
Nippon Paint Holdings Co., Ltd.
3M Company
Sika AG
Tikkurila OYJ
Kansai Paint Co., Ltd.
The detailed segments and sub-segments of the market are explained below:
By Application:
Automotive
Electronics
Medical
Industrial
Packaging
By Curing Technology:
Ultraviolet Light Curing
Electron Beam Curing
Other Advanced Curing Techniques
By Chemistry:
Acrylic-Based
Epoxy-Based
Polyester-Based
Silicone-Based
Urethane-Based
By Resin Type:
Waterborne
Solventborne
High-Solids
100% Solids
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Australia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
UAE
South Africa
Rest of Middle East & Africa
Years considered for the study are as follows:
Historical Year: 2022
Base Year: 2023
Forecast Period: 2024-2032
Key Takeaways:
Comprehensive market estimates and forecasts from 2022 to 2032.
Regional analysis covering major countries and regions.
In-depth evaluation of the competitive landscape, highlighting key players and their strategies.
Strategic recommendations for stakeholders to capitalize on emerging trends.
Comprehensive demand-side and supply-side market analysis.
Table of Contents
Chapter 1. Global Radiation Cured Coatings Market Executive Summary
1.1. Global Radiation Cured Coatings Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
1.3.1. By Application
1.3.2. By Curing Technology
1.3.3. By Chemistry
1.3.4. By Resin Type
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Radiation Cured Coatings Market Definition and Research Assumptions