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Radiation Cured Products Market Is Expected To Grow At A CAGR Of 6.5% By 2033

08-08-2023 02:26 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Fact.MR

Based on the analysis by Fact.MR, the global radiation-cured products market is estimated to be valued at US$ 2.4 billion in 2023 and it is expected to grow at a CAGR of 6.5% to reach US$ 4.5 billion by the end of 2033.

Radiation-cured products offer rapid curing times compared to conventional curing methods. Ultraviolet (UV) or electron beam (EB) radiation initiates the curing process, leading to quick drying and increased production speed. This efficiency is particularly beneficial in industries with high-volume production requirements.

Radiation curing is a solvent-free process, reducing the emission of volatile organic compounds (VOCs) and hazardous air pollutants (HAPs). As sustainability becomes increasingly important, the use of radiation-cured products aligns with eco-friendly initiatives and regulatory requirements for reducing harmful emissions, thus, gearing up the demand for radiation-cured products.

๐ƒ๐จ๐ฐ๐ง๐ฅ๐จ๐š๐ ๐…๐ซ๐ž๐ž ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‚๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐“๐ก๐ข๐ฌ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ :https://www.factmr.com/connectus/sample?flag=S&rep_id=6941?PJ

These products are cross linked by high-intensity UV light or electron beam energy sources and exhibit excellent properties such as abrasion resistance, cured & dried and excellent hardness. Strict government regulations regarding solvent-free formulation usage is expected to fuel demand over the next forecast period. Adhesives are expected to emerge as the leading application segment owing to increasing demand for solvent-free formulations.

Increasing number of applications in end-use industries such as wood coatings, food packaging, automotive, printing, healthcare and electrical & electronics is anticipated to complement demand growth over the next seven years. Crude oil derivatives such as photoinitiators, oligomers, and monomers are major raw materials utilized in radiation-cure products.

๐‚๐จ๐ฆ๐ฉ๐ž๐ญ๐ข๐ญ๐ข๐ฏ๐ž ๐ฅ๐š๐ง๐๐ฌ๐œ๐š๐ฉ๐ž

Out of these manufacturers, BASF SE, Sartomer, and 3M Company are holding dominance, not only over technology but also in terms of production capacity and

โ€ข
โ€ข FUJIFILM Sericol UK Ltd.
โ€ข DIC Corp.

supply across the globe. Alongside, with top-end technology & facilities, tier 1 players contribute significant share at the global level.

๐Š๐ž๐ฒ ๐‚๐จ๐ฆ๐ฉ๐š๐ง๐ข๐ž๐ฌ ๐๐ซ๐จ๐Ÿ๐ข๐ฅ๐ž๐

โ€ข Flint Group:
โ€ข DYMAX Corp.
โ€ข Allnex
โ€ข Momentive
โ€ข Nordson Corp.
โ€ข BASF SE
โ€ข PPG Industries Inc.
โ€ข Red Spot Paint & Varnish Company Inc.

"๐†๐ซ๐จ๐ฐ๐ข๐ง๐  ๐€๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ž ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐ญ๐จ ๐ƒ๐ซ๐ข๐ฏ๐ž ๐‘๐š๐๐ข๐š๐ญ๐ข๐จ๐ง ๐‚๐ฎ๐ซ๐ž๐ ๐๐ซ๐จ๐๐ฎ๐œ๐ญ๐ฌ ๐ƒ๐ž๐ฆ๐š๐ง๐"

The automotive industry requires high-quality coatings and finishes for vehicles. Radiation-cured coatings offer exceptional properties such as durability, scratch resistance, chemical resistance, and gloss retention. These coatings provide long-lasting protection to the vehicle's exterior, enhancing its aesthetic appeal and protecting it from environmental factors like UV radiation, weathering, and abrasion.

โ€ข The growing automotive industry has a prominent role in the growth of the radiation-cured products market. For instance, in 2022, global sales of electric cars exceeded 10 million units, and it is projected that sales will further increase by 35% this year, reaching 14 million. This rapid expansion has resulted in electric cars capturing a larger portion of the overall car market, with their market share rising from approximately 4% in 2020 to 14% in 2022.

โ€ข Furthermore, it is anticipated that their market share will continue to rise to 18% this year. Hence, the flourishing automotive sector has a positive impact on the market as radiation-cured adhesives play a vital role in automotive manufacturing processes.

๐‘๐š๐๐ข๐š๐ญ๐ข๐จ๐ง ๐‚๐ฎ๐ซ๐ž๐ ๐๐ซ๐จ๐๐ฎ๐œ๐ญ๐ฌ ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐Š๐ž๐ฒ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐ฌ

โ€ข By Type

โ€ข Coatings
โ€ข Inks
โ€ข Adhesives

โ€ข By Formulation

โ€ข Electron Beam Curing
โ€ข Ultraviolet Curing

โ€ข By Application

โ€ข Paper & Film
โ€ข Plastic
โ€ข Wood
โ€ข Glass
โ€ข Metal

๐๐ฎ๐ž๐ฌ๐ญ๐ข๐จ๐ง๐ง๐š๐ข๐ซ๐ž ๐š๐ง๐ฌ๐ฐ๐ž๐ซ๐ž๐ ๐ข๐ง ๐ญ๐ก๐ž ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐ข๐ง๐œ๐ฅ๐ฎ๐๐ž:

โ€ข How the industry has grown?
โ€ข What is the present and future outlook on the basis of region?
โ€ข What are the challenges and opportunities?
โ€ข Why the consumption in region?
โ€ข In which year segment is expected to overtake segment?

๐’๐ก๐š๐ซ๐ž ๐˜๐จ๐ฎ๐ซ ๐‘๐ž๐ช๐ฎ๐ข๐ซ๐ž๐ฆ๐ž๐ง๐ญ๐ฌ & ๐†๐ž๐ญ ๐‚๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐ž๐ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ : https://www.factmr.com/connectus/sample?flag=RC&rep_id=6941?PJ

US Sales Office:
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Tel: +1 (628) 251-1583
E Mail : sales@factmr.com

About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range - from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories.

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