Rockville, June 02, 2023 (GLOBE NEWSWIRE) -- The recent research analysis by Fact.MR on the global market global radiation-cured products provides a thorough overview of the industry’s product, end-user, and region categories. It also offers comprehensive details on important players and the crucial tactics they are turning to for gaining an upper hand over their competitors.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global radiation-cured products market is estimated to reach a valuation of US$ 2.4 billion in 2023 and is expected to grow at a CAGR of 6.5% during the forecast period of 2023–2033.
Demand for eco-friendly coatings and adhesives is growing which is driving the adoption of radiation-cured formulations due to their low VOC content. The market is witnessing increased applications in industries such as automotive, packaging, electronics, and wood coatings. UV-cured coatings dominate the market, but EB-cured products are gaining traction due to their speed and versatility.
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Advancements in technology, such as LED-based UV curing, are also shaping the market growth trajectory. The radiation-cured products market is characterized by a shift towards sustainable solutions and expanding applications across various industries, due to their fast curing, energy efficiency, and environmental benefits.
Key Takeaways from Market Study
- The global radiation-cured products market is projected to reach US$ 4.5 billion by 2033
- The market created an opportunity of US$ 2.2 billion growing at a CAGR of 6.5% between 2018 to 2022
- Europe is a prominent region that is estimated to hold a market share of 17.6% in 2023
- North America and East Asia are estimated to collectively account for a market share of 56.0% in 2023
- Prominent players in the market are Allnex, Ashland Global Holdings Inc., BASF SE, Evonik Industries AG, PPG Industries Inc., Royal DSM N.V., and 3M Company
Radiation-Cured Formulations are Illuminating the Future of Eco-Friendly Coatings and Adhesives in a Growing Market, says a Fact.MR analyst.
Market Growth Stratagems
Manufacturers focus on continuous research and development to create innovative radiation-cured formulations that meet the evolving needs of industries. They invest in formulating coatings and adhesives with improved performance properties, such as enhanced durability, scratch resistance, and adhesion, to expand their product portfolio and cater to specific market requirements.
The market is highly competitive with the presence of various well-established market players. The companies are focusing on enhancing their supplier and distributor network coupled with global business expansion to curb the demand pool by catering to their needs. Also, they are taking pricing as differentiating factor that enables the company to withstand the competitive market.
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Key Companies Profiled
- Allnex
- Ashland Global Holdings Inc.
- BASF SE
- Evonik Industries AG
- PPG Industries Inc.
- Royal DSM N.V.
- 3M Company
Segmentation of Radiation-Cured Products Industry Research
- By Type :
- Coatings
- Inks
- Adhesives
- By Formulation :
- Electron Beam Curing
- Ultraviolet Curing
- By Application :
- Paper & Film
- Plastic
- Wood
- Glass
- Metal
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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What differences can the radiation-cured products report make on the revenue impacts and strategies of businesses?
Fact.MR strives to provide comprehensive assessments of opportunities in various regions and technology segments. The study also offers an uncluttered data-driven insights into the growth avenues of the radiation-cured products and all its segments. Some of the ways the study can make a discernible impact are by offering evidence-based perspectives on:
- Attractiveness quotient of emerging product/technology types in various products in the radiation-cured products
- Micro-economics factors that may hamper the prospects of some of the key segments
- Recent spate of research and development (R&D) funding on key radiation-cured productss
- New business models paving way for disruptions in demand dynamic of key segments
- Regional markets that will be future engine of growth and the industry trends that will support these markets
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the radiation cured products market, presenting historical market data (2018–2022) and forecast statistics for the period of 2023–2033.
The study reveals essential insights on the basis of the type (coatings, inks, and adhesives), formulation (electron beam curing and ultraviolet curing), application (paper & film, plastic, wood, glass, and metal), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, Middle East & Africa).
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