Radiation Curable Coatings Market Analysis

Radiation Curable Coatings Market Analysis

Based on product, the radiation curable coatings market is segmented as UV curable coatings, EB curable coatings. UV Curable Coatings held a majority market value of USD 4.1 billion in 2022. UV-curable coatings cure rapidly upon exposure to UV light, leading to increased production efficiency and reduced processing times. The quick curing process of UV coatings requires less energy compared to traditional heat curing methods. Moreover, an increasing usage will further accelerate the segmental growth.
 

Based on function, the radiation curable coatings market is segmented as scratch-resistant, uv protection, chemical-resistant, high-gloss, matte and satin. Scratch-Resistant held a dominant market share of around 40% in 2022 and is expected to grow at a lucrative pace through 2032. Protective coatings offer resistance to abrasion, chemicals, and environmental factors, extending the lifespan of coated products.
 

Based on application, the radiation curable coatings market is segmented as paper & film coatings, printing inks, wood, plastics, electronic products, others. Paper & Film Coatings held a dominant market share in 2022 and is anticipated to grow at 5.6% CAGR between 2023 and 2032. Radiation-curable coatings offer low VOC emissions and energy-efficient curing, aligning with sustainable packaging initiatives.
 

Based on end-use, the radiation curable coatings market is segmented as wood coatings, metal coatings, plastic coatings, printed materials, electronic components, optical coatings, automotive coatings, aerospace coatings, other. Printed Materials held a dominant market share in 2022 and is anticipated to grow significantly up to 2032. Fast curing of radiation-curable coatings enables efficient printing processes, reducing production lead times.
 

U.S. dominated the North American region with majority radiation curable coatings market share and a revenue of USD 1.5 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032. Industries in North America seek eco-friendly coating solutions to reduce their carbon footprint and comply with environmental standards.