Press release
Radiation Curable Coating Market Trends and Future Growth Overview 2024 - 2031 | DIC Cytec, Industries Inc., RAHN AG
Radiation Curable Coating Market
Radiation curable coatings are generally used as thin protective coatings on various substrates including wood, paper, metal, plastic films, and graphic arts. They offers benefits such as fast curing process, high durability, and low volatile organic compound emissions making them environment friendly.
Market Dynamics:
The radiation curable coating market is expected to witness significant growth over the forecast period owing to increasing demand from wood coatings applications. Wood coatings accounted for largest share of over 35% in 2020. Radiation curable coatings are increasingly being used for coating furniture, panels, and decorative laminates in wood industry due to properties like scratch and wear resistance. Furthermore, growing construction sector in emerging economies of Asia Pacific and Latin America is also contributing to the growth of wood coatings market which in turn is driving the radiation curable coating market growth. In addition, rising electronics industry is further augmenting the demand for radiation curable coatings in printed circuit boards and semiconductor packaging applications.
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Major Drivers for Increased Demand of Radiation Curable Coatings Due to Lower VOC Emissions
One of the major drivers augmenting the demand for radiation curable coatings is their significantly lower volatile organic compound (VOC) emissions as compared to solvent-borne coatings. Radiation curable coatings emit negligible or no VOCs during curing and drying process, thereby complying with stringent environmental regulations regarding VOC emissions. Various countries and regions have imposed strict regulatory standards on the VOC content of coating products due to the adverse health and environmental impacts of VOCs. For instance, South Coast Air Quality Management District in California has very strict VOC emission limits for industrial and commercial coating products. The low or zero VOC emissions properties of radiation curable coatings help manufacturers and end-use industries comply with such regulatory norms at a lower cost compared to other alternative coating technologies.
Shift Towards Powder Coatings Poses Opportunity for Radiation Curable Coatings
An emerging opportunity for radiation curable coatings is the gradual shift observed from solvent-borne liquid coatings towards more eco-friendly powder and UV curable coating technologies across various industrial sectors. While powder coatings have dominated segments requiring dull finishes, their usage has limitations for applications requiring clear or translucent glossy topcoats. This opens an window of opportunity for radiation curable coatings which can match performance of liquid coatings and make the transition easier by providing an environmental-friendly alternative for specialized clear coats. Their increased adoption would depend on how coalescence of new resin technologies and curing techniques can address current limitations and expand application scope of radiation curable coatings especially for automotive OEM applications that mainly use powder coating.
Sustainability Focus and Evolution of New Resin Technologies Drive Market Trends
Growing consumer awareness and regulatory push towards green products are compelling coating manufacturers to increasingly adopt sustainable technologies. Radiation curable coatings that cure without solvent emission are well aligned with this market trend. Resin manufacturers are investing in new families of oligomers and monomers with tailored properties to overcome existing technical barriers and expand the application range of UV/EB curable systems. Developments like waterborne UV coatings, increased tolerance to heat and humidity, self-healing characteristics etc. widen the technological gaps with solvent-borne coatings and render radiation curable coatings more competitive for new market segments over time. Their evolving new generation formulations will determine future consumption trends in the radiation curable coatings industry.
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Top Companies Included 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 are 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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The report offers insights on the following topics:
Chapter 1: Study Coverage
Chapter 2: Executive Summary
Chapter 3: Competitor Landscape of the Radiation Curable Coating Market by Players
Chapter 4: Market Size of the Radiation Curable Coating Market by Type and Application
Chapter 5: Global and Regional Analysis
Chapter 6: Company Profiles, Recent Developments, and Investments
Chapter 7: Analysis of Market Opportunities, Challenges, Risks, and Influencing Factors
Chapter 8: Analysis of Value Chain and Sales Channels, including notable product developments
Chapter 9: Research Findings and Conclusion
Chapter 10: Methodology/Research Approach
Ultimately, the Radiation Curable Coating Market report serves as a reliable source for acquiring market research to significantly enhance your business. It furnishes essential insights into regional economic conditions, product pricing, profitability, capacity, production, supply, demand, market growth rate, and forecasts. Additionally, the report includes a SWOT analysis, investment feasibility analysis, and return on investment analysis for new projects within the Radiation Curable Coating industry.
Should the aforementioned report not meet your precise requirements, we offer customized research tailored to comprehensively address your specific business needs. Our customized research will encompass all the pertinent business information necessary to assist you in making strategic and profitable business decisions.
Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
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