Global Radiation Shielding Material Market Size Study & Forecast, by Type (Electromagnetic Radiation, Particle Radiation), by Material (Lead Shielding, Lead Composite Shielding, Non-Lead and Lead Free Shielding), by Application (Diagnostic x-ray room shie

Global Radiation Shielding Material Market Size Study & Forecast, by Type (Electromagnetic Radiation, Particle Radiation), by Material (Lead Shielding, Lead Composite Shielding, Non-Lead and Lead Free Shielding), by Application (Diagnostic x-ray room shielding, CT Scanner shielding facility, MRI Room shielding, Nuclear medicine imagingshielding), and Regional Analysis, 2023-2030

Global Radiation Shielding Material Market is valued at approximately USD 670.42 million in 2022 and is anticipated to grow with a healthy growth rate of more than 6.5% during the forecast period 2023-2030. Radiation shielding materials are substances designed to reduce the penetration of ionizing radiation, protecting individuals and equipment from its harmful effects. This material is set to revolutionize safety in nuclear facilities, space travel, and improve patient care in radiology and oncology. The market is expected to experience a surge in research and development with a rising demand for safer nuclear energy, robust space missions, and precise medical diagnostics and therapies. Also, the growing need for precise and safe medical diagnostics and therapies, expansion of the nuclear energy industry, as well as stringent regulations regarding radiation exposure in workplaces, laboratories, and public spaces are the key factors contributing to the market demand worldwide.

In addition, the surge in incidences of cancer, coupled with the rising inclination towards medical imaging has led to an increased demand for radiation-based diagnostic and therapeutic procedures, which is exhibiting a positive influence on the market growth across the globe. Medical imaging techniques, such as X-rays and CT scans, play a crucial role in the diagnosis and monitoring of cancer. According to the World Health Organization, in 2020, it was estimated that nearly 19.3 million new cases of cancer were recorded globally, which is projected to rise and is likely to reach 30.2 million new cases by 2040. As these imaging technologies become more prevalent in healthcare, the need for effective radiation shielding materials intensifies. These materials are essential to ensure the safety of patients, healthcare professionals, and the public by minimizing radiation exposure. Consequently, the rising inclination towards medical imaging, driven by the imperative need for accurate cancer diagnosis and treatment, contributes significantly to the expanding demand for radiation shielding materials in the market during the estimated period. Moreover, the increasing number of space exploration initiatives, as well as ongoing technological innovations present various lucrative opportunities over the forecast years. However, the dearth of skilled oncologists or radiologists and the high cost of lead in manufacturing radiation accessories are challenging the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Radiation Shielding Material Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing emphasis on both government and private investments to address the rising demand for cancer treatment. Additionally, the development of advanced PET/CT scan technology is further contributing to the market growth in the region. Whereas, Asia Pacific is expected to grow at the fastest CAGR over the forecast years. The rising initiatives towards new investments in the radiation shielding sector, growing awareness of radiation risks, and technological innovations in shielding materials are significantly propelling the market demand across the region.

Major market players included in this report are:
Infab, LLC
Burlington Medical
MarShield
Ray-Bar Engineering Corp
Mars Metal Company
Radiation Protection Products Inc.
Nuclear Lead Co. Inc
Ultraray Group Inc
Veritas Medical Solutions
Global Partners in Shielding, Inc

Recent Developments in the Market:
 In August 2023, ETS-Lindgren revealed a strategic partnership with TUV Rheinland North America for the development of its new Technology and Innovation Center in Massachusetts. Key supporting partners, including AMETEK-CTS, Fair-Rite, Innova, and Rohde & Schwarz, are collaborating in the establishment of this center. Through the partnership of ETS-Lindgren and these industry leaders, TUV Rheinland aims to seamlessly integrate crucial equipment, fostering the provision of comprehensive customer solutions.
 In July 2022, Burlington Medical introduced the XENOLITE 800 NL (No-Lead) apron series—a lead-free, exceptionally lightweight, flexible, and recyclable x-ray radiation protection apron. The XENOLITE 800 NL series incorporates antimony and tungsten, strategically supported, encapsulated, and uniformly distributed within a durable yet pliable Dow elastomer matrix.

Global Radiation Shielding Material Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Type, Material, Application, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

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 Type:
Electromagnetic Radiation
Particle Radiation

By Material:
Lead Shielding
Lead Composite Shielding
Non-Lead and Lead Free Shielding

By Application:
Diagnostic x-ray room shielding
CT Scanner shielding facility
MRI Room shielding
Nuclear medicine imagingshielding
Radiotherapy shielding
Radiation protection safety aprons/apparel/equipments

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

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




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