Electron Beam Curable Coating Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Electron Beam Curable Coating Market Analysis
The electron beam curable coating market was valued at over USD 400 million in 2021, and the market is projected to register a CAGR of greater than 3% during the forecast period (2022-2027).
Due to the COVID-19 outbreak, nationwide lockdown around the world, disruption in manufacturing activities and supply chains, and production halts negatively impacted the market in 2020. However, the conditions started recovering in 2021, thereby restoring the growth trajectory of the market studied during the forecast period.
- The major factor driving the market studied is the growing demand for the electron beam curable coating market from various end-user industries.
- The growing demand for electron beam curable coating from electric vehicles is forecasted to offer various opportunities for the growth of the market over the forecast period.
- Electron beam curable coating from the aerospace industry is expected to dominate the market studied over the forecast period.
- The Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.
Electron Beam Curable Coating Market Trends
This section covers the major market trends shaping the Electron Beam Curable Coating Market according to our research experts:
Growing Demand from the Packaging Industry
- In the packaging industry, electron beam curable coatings are widely used for food packaging materials such as folding cartons for frozen foods, gable-top cartons for fruit juice packaging, and dry food packaging owing to their low odor and low migration packaging solutions.
- Moreover, these coatings are also widely adopted in flexible packaging applications owing to their clean, fast, and energy-efficient way of processing coatings in flexible packaging operations. Electron beam curable coatings exhibit properties such as low VOC emissions, instant drying at high production speeds, and high chemical and high abrasion resistance, which makes them ideal for application in various packaging applications.
- Companies such as PepsiCo are actively engaged in exploring the use of electron beam curable coating and ink in surface print applications for flexible food packaging as an alternative to eliminate the potential use of photoinitiators to migrate into food.
- In recent years, electron beam curable coatings are increasingly gaining the interest of packaging manufacturers to shift traditional multi-film packaging structures to mono-web packaging structures. As electron beam, curable coatings help reduce the packaging layers by eliminating the use of lamination adhesive between film layers and minimizing the use of photoinitiators in flexible packaging, which makes it suitable for food packaging applications.
- According to a report published by PMMI, 'The Association for Packaging and Processing Technologies,' growth in the global packaging industry was anticipated to reach USD 42.2 billion by 2021, an increase from USD 36.8 billion in 2016, owing to the increasing population, growing sustainability concerns, more spending power in developing regions, and rising demand for smart packaging, among others.
- India is also one of the major consumers of packaged foods and beverages. According to the Packaging Industry Association of India (PIAI), the packaging industry is expected to grow at a rate of 22% during the forecast period.
- Hence, owing to the above-mentioned factors, the application of electron beam curable coating from the packaging industry is likely to dominate during the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market for electron beam curable coating during the forecast period. The rising demand for electron beam curable coating from the aerospace industry and growing application in the automotive and electronic sector in developing countries like China, India, and Japan are expected to drive the demand for electron beam curable coating in this region.
- The largest producers of electron beam curable coating are located in the Asia-Pacific region. Some of the leading companies in the production of electron beam curable coating include PPG Industries Inc, ALLNEX NETHERLANDS BV, Hexion, BASF, and RAHN AG.
- The packaging industry in China is expected to register tremendous growth, to reach CNY 2 trillion by 2025. According to Interpak, in China, in the foodstuff packaging category, total packaging is expected to reach 447 billion units in 2023. This positive momentum in the packaging industry is expected to ignite the market demand for the electron beam curable coatings market in the country.
- The Asia-Pacific automotive manufacturing industry is the largest in the world, with a production share of around 60% in 2021. According to OICA, the total automotive production stood at 46.73 million units in 2021, registering a growth of 6% compared to 2020, driving the demand for the electron beam curable coatings market.
- Moreover, in India, at present, there are 153 airports, and it is anticipated to increase to 190-200 by FY 2040, and the rising fleet size is expected to escalate the number of airplanes to 1,100 by 2027.
- The total production value of the electronics industry in Japan was around JPY 9.96 trillion in 2020, which was 96.6% of the production value compared to the previous year. However, the electronics industry production till August 2021 increased to JPY 7.193 trillion, which was 113.4% of the first eight months' value in 2020, thereby increasing the consumption of electron mean curable coatings in the region.
- Due to the above-mentioned factors, the market for electron beam curable coating in the Asia-Pacific region is projected to grow significantly during the study period.
Electron Beam Curable Coating Industry Overview
The electron beam curable coating market is consolidated in nature, with only a few major players dominating the market. Some of the major companies (not in any particular order) include PPG Industries Inc., Arkema, BASF SE, IGM Resins, and ALLNEX GMBH (PTT Global Chemical Public Company Limited).
Electron Beam Curable Coating Market Leaders
Arkema
BASF SE
PPG Industries, Inc
IGM Resins
ALLNEX GMBH (PTT Global Chemical Public Company Limited)
*Disclaimer: Major Players sorted in no particular order
Electron Beam Curable Coating Market News
- In December 2021, PTTGC International (Netherlands) BV ("GC Inter BV"), a wholly-owned subsidiary of PTT Global Chemical Public Company Limited ("GC"), completed the acquisition of Allnex Holding GmbH ("allnex").
- In April 2021, Covestro completed the acquisition of the Resins & Functional Materials business (RFM) from the Dutch company Royal DSM.
Electron Beam Curable Coating Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Applications Across Various End-user Industries
4.1.2 Other Drivers
4.2 Restraints
4.2.1 High Cost in the Manufacturing Involved
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Process Analysis
5. MARKET SEGMENTATION
5.1 End-user Industry
5.1.1 Aerospace
5.1.2 Electrical and Electronics
5.1.3 Automotive
5.1.4 Packaging
5.1.5 Other End-user Industries (Batteries)
5.2 Geography
5.2.1 Asia-Pacific
5.2.1.1 China
5.2.1.2 India
5.2.1.3 Japan
5.2.1.4 South Korea
5.2.1.5 Rest of Asia-Pacific
5.2.2 North America
5.2.2.1 United States
5.2.2.2 Canada
5.2.2.3 Mexico
5.2.3 Europe
5.2.3.1 Germany
5.2.3.2 United Kingdom
5.2.3.3 France
5.2.3.4 Italy
5.2.3.5 Rest of Europe
5.2.4 South America
5.2.4.1 Brazil
5.2.4.2 Argentina
5.2.4.3 Rest of South America
5.2.5 Middle-East and Africa
5.2.5.1 Saudi Arabia
5.2.5.2 South Africa
5.2.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 ALLNEX GMBH(PTT Global Chemical Public Company Limited)
6.4.2 Abrisa Technologies
6.4.3 Arkema
6.4.4 BASF SE
6.4.5 Dainichiseika Color & Chemicals Mfg Co. Ltd
6.4.6 Covestro AG
6.4.7 Hexion
6.4.8 INX International Ink Co.
6.4.9 PPG Industries Inc.
6.4.10 R&D Coatings LLC
6.4.11 Dai Nippon Printing Co. Ltd
6.4.12 IGM Resins
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growth in the Electric Vehicles Market
Electron Beam Curable Coating Industry Segmentation
Electron beam physical vapor deposition (EB-PVD) is a technique in which a high-energy electron beam is used to heat the target material, and the target material is deposited on the surface of the substrate in the molecular form under high vacuum conditions. The electron beam curable coating market is segmented by end-user industry and geography. By end-user industry, the market is segmented into aerospace, electrical and electronics, automotive, packaging, and other end-user industries. The report also covers the market size and forecasts for the market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
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| Automotive | |
| Packaging | |
| Other End-user Industries (Batteries) |
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Electron Beam Curable Coating Market Research FAQs
What is the current Electron Beam Curable Coating Market size?
The Electron Beam Curable Coating Market is projected to register a CAGR of 3% during the forecast period (2024-2029)
Who are the key players in Electron Beam Curable Coating Market?
Arkema, BASF SE, PPG Industries, Inc, IGM Resins and ALLNEX GMBH (PTT Global Chemical Public Company Limited) are the major companies operating in the Electron Beam Curable Coating Market.
Which is the fastest growing region in Electron Beam Curable Coating Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Electron Beam Curable Coating Market?
In 2024, the Asia Pacific accounts for the largest market share in Electron Beam Curable Coating Market.
What years does this Electron Beam Curable Coating Market cover?
The report covers the Electron Beam Curable Coating Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Electron Beam Curable Coating Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Electron Beam Curable Coating Industry Report
Statistics for the 2024 Electron Beam Curable Coating market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Electron Beam Curable Coating analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
