Market Overview

Global Radiation-Cured Coating Market to witness a CAGR of 6.8% during 2018-2024


NEW YORK, July 26, 2018 (GLOBE NEWSWIRE) -- The global radiation-cured coating market is expected to witness a CAGR of 6.8%, and is projected to reach USD 11.4 billion by 2024. Growing application of UV/EB technology across various end user industries has been a significant factor influencing the adoption of radiation curing coating in the recent past and is expected to grow at a healthy rate. The growth of radiation cured technology is attributed to its high performance coupled with environmental sustainability and enhanced productivity over other traditional technologies. With technological advancements, innovations and developments in formulations, processing and equipments, the penetration of the technology across various markets has resulted in further expansion of radiation-cured coating across the globe.

Radiation-cured coating is an established technology and is widely used in variety of coating, printing and unique product applications. The wood finishing industry is the largest application area for radiation-cured coating technology, offering better adhesion, scratch and abrasion resistance. They are commonly used for high quality coatings in the wood and furniture industry. Increasing number of coating and printing facilities use radiation cured coating system due to its effective and profitable nature. Moreover, application of UV/EB coatings in rapidly growing consumer electronics has grown over the period of time fueling the market growth of radiation-cured coating market. Further, the use of UV/EB curing technology in graphic arts printing and varnishing applications has grown significantly and is expected to register high growth rate over the forecast period.

Printed Electronics: high potential market for radiation-cured coating

Printed electronics, include electrical devices manufactured through printing. Development of UV curable inks and coatings tends to widescale the use of the technology in portable photovoltaics, electroluminescent displays, organic light emitting diodes (OLEDs) among others. The use of the same ink on a wider range of substrates has increased the profitable margin, thus helping UV/EB cured coating technology to grow sharply over the period of time. Moreover, cost per copy benefits of radiation cured printing continues to grow in offset applications. Challenges of food packaging has been met by using UV/EB technology and is expected to be one of the key applications over the coming years. Adoption of UV/EB in newer printing technologies such as inkjet ensures that UV/EB is the highly potential technology for the future printing industry.

Radiation-Cured Coating Market - Regional insight

Asia-Pacific holds the largest share of the global market in 2017. Countries such as China and Japan are at the forefront of radiation-cured coating products consumption. Growing electronics and large industrial coating market is driving the growth of radiation-cured coating market in the region. Government regulations in the United States concerning air pollution and emissions, has led to speed up development of low-pollution coating technologies such as radiation-cured coating. Given the technological innovation and developments in Europe and growing application of UV/EB cured technology in graphic arts, the region is expected to provide thrust to the global radiation-cured coating market.

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Key findings from the report:

  • The global radiation-cured coating market market is likely to reach USD 11.4 billion by 2024

  • The wood coating application segment accounted for the largest share of the global radiation-cured coating market market in 2017

  • The oligomers held the largest share in the global radiation-cured coating market followed by monomers in 2017, and the trend is expected to continue over the forecast period

  • Asia-Pacific held the largest share of the industry in 2017, and is further expected to register highest CAGR over the forecast period

  • The industrial usage remains the largest end user for the global radiation-cured coating materials and technology

  • Some of the key companies operating in the market include BASF, DSM, Cytec Industries Inc., DIC, Henkel, Akcros Chemicals, Sartomer, PPG Industrie., Red Spot Paint & Varnish Company, Royal DSM N.V. and among others

The report segments radiation-cured coating market market on the basis of material, application, substrate, polymerization method, end-use and region.

Global Radiation-Cured Coating Market, By Material

  • Oligomers
    • Epoxy
    • Urethane
    • Polyether
    • Polyesters
    • Others
  • Monomers
    • Styrene
    • N-vinyl pyrrolidone
    • Acrylates
    • Others
  • Photoinitiators
    • Cationic
    • Free Radical
  • Additives
    • Stabilizer
    • Defoamers
    • Wetting agent
    • Adhesion promoter
    • Others
  • Others

Global Radiation-Cured Coating Market, By Application

  • Paper & film coatings
  • Wood coating
  • Graphic Arts
    • Flexography
    • Inkjet
    • Print Varnish
    • Offset
    • Others
  • Consumer Electronics
  • Fibre optics
  • Plastics
  • Graphic Arts
  • Others

Global Radiation-Cured Coating Market, By Substrate

  • Wood
  • Paper
  • Ceramics
  • Metal
  • Glass
  • Plastics
  • Others

Global Radiation-Cured Coating Market, By Polymerization

  • Electron beam
  • Ultraviolet

Global Radiation-Cured Coating Market, By End-User

  • Industrial
    • Ink and coating
    • Wood Coating
    • Metal and plastic coating
    • Electronics
    • Others
  • Medical
  • Automotive
  • Opto & Electronics
  • Field applied decorative coatings
  • Others

Global Radiation-Cured Coating Market, By Region

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Central and South America
  • Middle East and Africa (MEA)

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