Market Size of Asia-Pacific Radiation Curable Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Radiation Curable Coatings Market Analysis
The Asia-Pacific radiation curable coatings market is expected to register a CAGR of over 5% during the forecast period.
COVID-19 negatively impacted the radiation-curable coating in 2020. Major industries were shut down due to the lockdown, reducing the consumption of radiation-curable coatings in the industrial sector. The government eased restrictions on curbing the spread of the virus; this resulted in the steady growth of the radiation curable coatings market in Asia-Pacific.
- Demand for radiation-curable coatings from the industrial segment due to their properties, such as rapid curing, drying, superior hardness, and abrasion resistance over other layers, is forecasting the market's demand.
- Rising demand for highly durable coatings will likely act as an opportunity.
- Government regulations on the usage of VOC and high raw material costs are likely to hinder market expansion.
- China dominated the market and may continue its dominance during the forecast period.
