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Global Radiation Curable Coatings Market to reach USD 11.03 billion by the end of 2030.

Global Radiation Curable Coatings Market Size study & Forecast, by Ingredient (Oligomers, Monomers, Photoinitiators, Additives), by Type (Ultraviolet Curing, Electron Beam Curing), by Application (Paper and Film, Printing Inks, Plastics, Wood, Glass, Others) and Regional Analysis, 2023-2030

Product Code: CMPCA-17427082
Publish Date: 4-08-2023
Page: 200

Global Radiation Curable Coatings Market is valued at approximately USD 7.70 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.6% over the forecast period 2023-2030. Radiation curable coatings, that may be applied to a number of materials including wood, metal, glass, plastic, and paper, are polymer coatings that are cured by UV or electron beam radiation. Popular uses for these compositions include the cross-linking of adhesives, inks, and electronics using intense UV or electron beam energy sources. These coatings boost surface properties, use less energy, have a long service life, are corrosion resistant, and perform well. The radiation-cured coatings industry is growing because of low-pollution coatings, highly durable and chemically resistant finishes, and an increase in demand for wood coatings. The growing popularity of automated household items is propelling the usage of radiation curable coatings in the manufacture of domestic electrical appliances such as microwaves, ovens, dishwashers, and refrigerators. Furthermore, the improving environmental compliance of the technology serves as essential for market expansion.

Moreover, the growing wood market can support the growth of the Radiation Curable Coatings Market. As the wood market expands, there is a higher demand for wood-based products such as furniture, flooring, and cabinetry. Radiation curable coatings are commonly used in the wood industry to provide protective finishes that enhance the aesthetics, durability, and resistance of wood surfaces. The growth in the wood market directly translates to a higher demand for radiation curable coatings. According to Statista, in 2022, the wood market was valued USD 152.30 billion and it is anticipated to reach USD 173.4 billion by 2024. Additionally, increasing spending on housing and growing usage of printed electronics provides lucrative opportunities to the market. However, the high material cost and large initial investment cost of Radiation Curable Coatings stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Radiation Curable Coatings Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing due to substantial manufacturing centres in the area, supported by increased investment in the industrial sector and infrastructural projects in emerging nations such as China, India & Indonesia. Also, increasing demand from end-use industries, advantages of radiation curing technology and growing awareness is anticipated to support the market growth. North America is expected to grow significantly during the forecast period, owing to high technical developments and increasing industrialisation in a range of industries such as electronics, automobiles, construction, favorable government policies, and increasing demand for eco-friendly coatings.

Major market player included in this report are:
3M Company
Red Spot Paint & Varnish Company, Inc.
Royal DSM N.V.
Bayer Material Science AG
Evonik Industries AG
Ashland, Inc.
Toyo Ink Group
Sun Chemical Corp
PPG Industries, Inc.
Recent Developments in the Market:
Ø In November 2022, Evonik’s Coating Additives business division expanded its offering of UV wood coating deaerators. TEGO Airex 923 is a highly compatible and efficient 100% active organic polymer. UV-curable coatings offer several advantages, including being ecologically benign, practically globally applicable, and having a highly quick, efficient, and productive application procedure. Evonik provides a wide range of defoamers and deaerators with various application characteristics. Evonik introduces TEGO Airex 923, a powerful deaerator for radiation-curing wood and furniture treatments.
Global Radiation Curable Coatings Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Ingredient, Type, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Ingredient:
By Type:
Ultraviolet Curing
Electron Beam Curing
By Application:
Paper and Film
Printing Inks
By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Radiation Curable Coatings Market, by Region, 2020-2030 (USD Billion)
1.2.2. Radiation Curable Coatings Market, by Ingredient, 2020-2030 (USD Billion)
1.2.3. Radiation Curable Coatings Market, by Type, 2020-2030 (USD Billion)
1.2.4. Radiation Curable Coatings Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Radiation Curable Coatings Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Radiation Curable Coatings Market Dynamics
3.1. Radiation Curable Coatings Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing demand for wood coatings Growing paints and coatings industry’s
3.1.2. Market Challenges High Material Cost of Radiation Curable Coatings large initial investment cost
3.1.3. Market Opportunities Increasing Spending on Housing Growing Usage in Printed Electronics
Chapter 4. Global Radiation Curable Coatings Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Radiation Curable Coatings Market, by Ingredient
5.1. Market Snapshot
5.2. Global Radiation Curable Coatings Market by Ingredient, Performance – Potential Analysis
5.3. Global Radiation Curable Coatings Market Estimates & Forecasts by Ingredient 2020-2030 (USD Billion)
5.4. Radiation Curable Coatings Market, Sub Segment Analysis
5.4.1. Oligomers
5.4.2. Monomers
5.4.3. Photoinitiators
5.4.4. Additives
Chapter 6. Global Radiation Curable Coatings Market, by Type
6.1. Market Snapshot
6.2. Global Radiation Curable Coatings Market by Type, Performance – Potential Analysis
6.3. Global Radiation Curable Coatings Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
6.4. Radiation Curable Coatings Market, Sub Segment Analysis
6.4.1. Ultraviolet Curing
6.4.2. Electron Beam Curing
Chapter 7. Global Radiation Curable Coatings Market, by Application
7.1. Market Snapshot
7.2. Global Radiation Curable Coatings Market by Application, Performance – Potential Analysis
7.3. Global Radiation Curable Coatings Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
7.4. Radiation Curable Coatings Market, Sub Segment Analysis
7.4.1. Paper and Film
7.4.2. Printing Inks
7.4.3. Plastics
7.4.4. Wood
7.4.5. Glass
7.4.6. Others
Chapter 8. Global Radiation Curable Coatings Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Radiation Curable Coatings Market, Regional Market Snapshot
8.4. North America Radiation Curable Coatings Market
8.4.1. U.S. Radiation Curable Coatings Market Ingredient breakdown estimates & forecasts, 2020-2030 Type breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Radiation Curable Coatings Market
8.5. Europe Radiation Curable Coatings Market Snapshot
8.5.1. U.K. Radiation Curable Coatings Market
8.5.2. Germany Radiation Curable Coatings Market
8.5.3. France Radiation Curable Coatings Market
8.5.4. Spain Radiation Curable Coatings Market
8.5.5. Italy Radiation Curable Coatings Market
8.5.6. Rest of Europe Radiation Curable Coatings Market
8.6. Asia-Pacific Radiation Curable Coatings Market Snapshot
8.6.1. China Radiation Curable Coatings Market
8.6.2. India Radiation Curable Coatings Market
8.6.3. Japan Radiation Curable Coatings Market
8.6.4. Australia Radiation Curable Coatings Market
8.6.5. South Korea Radiation Curable Coatings Market
8.6.6. Rest of Asia Pacific Radiation Curable Coatings Market
8.7. Latin America Radiation Curable Coatings Market Snapshot
8.7.1. Brazil Radiation Curable Coatings Market
8.7.2. Mexico Radiation Curable Coatings Market
8.8. Middle East & Africa Radiation Curable Coatings Market
8.8.1. Saudi Arabia Radiation Curable Coatings Market
8.8.2. South Africa Radiation Curable Coatings Market
8.8.3. Rest of Middle East & Africa Radiation Curable Coatings Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. 3M Company Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Red Spot Paint & Varnish Company, Inc.
9.3.3. BASF SE
9.3.4. Royal DSM N.V.
9.3.5. Bayer Material Science AG
9.3.6. Evonik Industries AG
9.3.7. Ashland, Inc.
9.3.8. Toyo Ink Group
9.3.9. Sun Chemical Corp
9.3.10. PPG Industries, Inc.
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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