Radiation Cured Coatings Market Size, Share & Trends Analysis Report By Raw Material (Oligomers, Monomers), By Formulation (Electro Beam Curing), By Application (Wood, Industrial), By Region, And Segment Forecasts, 2023 - 2030

Radiation Cured Coatings Market Size, Share & Trends Analysis Report By Raw Material (Oligomers, Monomers), By Formulation (Electro Beam Curing), By Application (Wood, Industrial), By Region, And Segment Forecasts, 2023 - 2030

Radiation Cured Coatings Market Growth & Trends

The global radiation cured coatings market size is expected to reach USD 28.36 billion by 2030, as per a new report by Grand View Research, Inc. The market is expected to advance at a CAGR of 4.3% from 2023 to 2030. The industry growth is majorly driven by the wide usage of UV-cured materials in the graphics and industrial wood industries, owing to their high efficiency and speed. Radiation-cured coatings are a type of surface finish applied as a liquid or paste and then cured (dried or solidified) using radiation, typically ultraviolet (UV) light or electron beams. These coatings are commonly used in various industries, including printing, packaging, automotive, and electronics.

Radiation-cured coatings find various applications in electronic products, offering enhanced performance, protection, and aesthetics. They are used to protect PCBs from environmental factors, such as moisture, chemicals, and abrasion, while also improving their electrical insulation properties. These coatings can be applied to mobile device components, such as touchscreens, to provide scratch resistance, UV protection, and improved durability.

The Asia Pacific region is predicted to expand at the highest CAGR over the forecast period. The region has been experiencing rapid economic growth, leading to increased industrialization and manufacturing activities. Stricter environmental regulations in the region have prompted industries to seek more environment-friendly coating options. Radiation-cured coatings emit fewer volatile organic compounds (VOCs) compared to traditional solvent-based coatings, making them a preferable choice to comply with regulations. This is expected to drive market growth over the forecast period.

Radiation Cured Coatings Market Report Highlights

• The oligomers raw material segment dominated the market with a revenue share of over 41% in 2022, as these materials emit minimal VOCs during curing, contributing to better air quality and reduced environmental impact
• The ultraviolet curing segment is predicted to expand at the highest CAGR during the forecast period, as UV curing requires lower energy consumption compared to heat curing processes, contributing to lower costs
• The industrial application segment dominated the market with a revenue share of over 25% in 2022. This is attributed to the increasing applications of radiation cured coatings in various industries such as automotive, healthcare, and others

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