The Global Market for Radiation Cured Products is Projected to Reach 717 Thousand Metric Tons by 2024

Increasing Construction Activities and Technological Advancements Drive the Global Radiation Cured Products Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Radiation Cured Products. The global market for Radiation cured products is projected to reach 717 thousand metric tons by 2024, valued at US$7.3 billion, driven by increasing construction activities, technological advancements, stringent government regulations related to air pollution, and increasing demand for solvent-free formulations.

Radiation cured Products (RadCure products) represent a growing market globally, aided by their improved properties, such as rapid processing, lower VOC emissions, improved physical characteristics, negligible waste production, and a good cost/benefit ratio; as well as increasing environmental concerns across the globe. The market is propelled by the increasing demand from wood coatings due to the increased infrastructural investments, and the rising need for environment-friendly products. Radiation cured products are finding increasing use in printed electronics, organic light emitting diodes, portable photovaltaics, electroluminescent, and transdermal patches. Upcoming trends in the radcure market comprise conductive films, UV-enabled rapid kevlar processing, lightest structure formed by UV, stain-resistant fabrics, flexible solar cells, carbon fiber UV sealer. Immense prospects are on the anvil as corporate organizations and various governments attach greater significance to new product development, new energy technologies, innovative materials, as well as sustainable operations.

Coatings represent the largest segment worldwide for radiation-cured products. Globally, the demand for radiation cured coatings is driven by the increasing construction activities, which in turn is fueling the need for wood coatings. The minimum waste produced by this technology makes the products environment friendly. Growth of the market is also attributed to major technological advancements, benefitting various substrates, particularly low heat-resistant substrates, such as wood and plastics. Radiation cured coatings are replacing the conventional solvent borne, low solid coatings, due to the eco-friendly processes involved in manufacturing, which minimizes the emissions of Volatile Organic Compound or VOC. Stringent government regulations related to air pollution, particularly in the developed regions, are propelling the demand for radiation cured products. Increasing demand for solvent-free formulations is also a key growth driver. Low energy consumption during the production process, increased abrasion resistance and hardness are the other growth drivers.

The UV cured printing inks market is witnessing rapid growth due to the increased demand from packaged materials. Printing of packaged materials is registering increased popularity. UV cured printing inks improve the printing process by minimizing drying time, simultaneously achieving superior bonding. Radiation cured adhesives, meanwhile, represent the smallest segment of the total radiation-cured products market. Radiation cured adhesives are rapidly gaining market share due to higher profitability and eco-friendly characteristics. Major applications include laminating adhesives, dental fillings, furniture, construction, pressure-sensitive decals, and potting among others. Radiation cured adhesives are rapidly replacing the PVC-based adhesives, which are being phased out, mainly from the US and European regions.

As stated by the new market research report on Radiation Cured Products, Asia-Pacific represents the largest market worldwide for radcure products, driven by huge population base and increasing demand for consumer goods in developing economies, particularly China and India. The Asia-Pacific region is expected to contribute significantly to the market with strong demand in fast-growing segments, such as wood coatings, industrial coatings, and electronics coatings.

Key players in the market include 3M Company, Allnex, Ashland Inc., Baldwin Technology Company Inc., BASF SE, Covestro (Formerly Bayer MaterialScience), Craig Adhesives and Coatings, Dexerials Corp., DIC Corp., Sun Chemical Corp., DYMAX Corp., Evonik Industries AG, Flint Group, FUJIFILM Sericol UK Ltd., Heraeus Noblelight America LLC, Momentive, Nordson Corp., PPG Industries Inc., Red Spot Paint & Varnish Company Inc., Royal DSM N.V., Sartomer, and Toyo Ink Group, among others.

The research report titled “Radiation Cured Products: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of trends, growth drivers, restraints, market share, size and demand projections and forecasts. Major geographic regions covered include the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific, Latin America, and Rest of World. Product segments analyzed include Radiation-cured Coatings, Radiation-cured Inks, and Radiation-cured Adhesives. The report also offers coverage on mergers, acquisitions, product launches and other strategic industry activities of major global and regional players.

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