Radiation Curable Coating Market Trends, Share, Outlook, Analysis, Size, and Industry Forecast 2024 - 2031 | DIC Cytec, Industries Inc., RAHN AG

Market Overview:

Radiation curable coatings find wide application in wood, paper, printing inks, electronics, and plastic coatings. These coatings impart several benefits like high durability, scratch and chemical resistance with fast curing properties.

Market Dynamics:

The radiation curable coating market is expected to witness significant growth over the forecast period owing to increasing demand for environment-friendly products along with stringent environmental regulations regarding volatile organic compound emissions. Radiation curable coatings emit minimal VOCs and offer low odor during curing as compared to traditional solvent-borne coatings. They also provide advantages like energy efficiency during production and offer cost savings to end-use industries. Additionally, growing electronics and plastic industries are also contributing to the market growth. The Asia Pacific region accounts for the largest share in the global market and is estimated to maintain its dominance during the forecast period supported by growing manufacturing industries in China and India.

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Radiation Curable Coating Market Drivers:

Increased demand from wood coating segment

The wood coating segment accounts for a major share of the global radiation curable coating market. Radiation curable coatings are extensively used in wood coating applications such as furniture, flooring, wooden panels, and cabinets. These coatings offer various benefits such as high durability, resistance to weathering, abrasion and scratch resistance. Increasing construction and infrastructure development activities globally are driving the demand for wood coatings which in turn is propelling the growth of radiation curable coatings market.

Radiation Curable Coating Market Opportunity:

Growing demand from emerging economies

Emerging economies in Asia Pacific region such as India, Indonesia, Malaysia, and Thailand offer lucrative growth opportunities for radiation curable coating manufacturers. Improving economic conditions and rising living standards in these countries are driving major infrastructure development and construction activities. Increasing foreign investments in various end-use industries such as wood, graphic arts, and packaging industries will augur well for the radiation curable coating market in these developing nations. Countries like China and India are expected to boost the demand for radiation curable coatings owing to rapid industrialization and growing consumption of convenience goods.

Radiation Curable Coating Market Trends:

Rising usage of powder coatings

Powder coatings also known as powder-based coatings are increasingly being used as an alternative to liquid coatings. Powder coatings can be cured by electron beam or ultraviolet radiation. Some of the advantages of powder coatings include low volatile organic compound emissions, excellent adhesion, and superior mechanical properties. Powder coatings are gaining preference over liquid coatings in metal fabrication applications due to their eco-friendly nature. Growing environmental regulations regarding VOC emissions are fueling a major shift towards powder coatings. Manufacturers are continuously innovating and introducing advanced powder coating resin systems to expand their end-use scope in industries such as automotive and furniture. This growing adoption of powder coatings technology will drive the radiation curable coating market.

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Top Companies Featured in This Report:

★ DIC Cytec
★ Industries Inc.
★ RAHN AG
★ Allnex
★ BASF SE
★ Sartomar.

Market Segmentation:

By Product Type:

★ Monomers
★ Oligomers
★ Additives
★ Photoinitiators
★ Electron Beam Curing
★ Ultraviolet Curing
★ Wood Plastics
★ Printing inks
★ Electronics
★ Paper and film coatings

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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Report Highlights:

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Author Bio:

Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.

(LinkedIn: https://www.linkedin.com/in/alice-mutum-3b247b137 )

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