PUBLISHER: The Business Research Company | PRODUCT CODE: 1717293
PUBLISHER: The Business Research Company | PRODUCT CODE: 1717293
Radiation shielding materials are substances designed to protect individuals, equipment, or environments from harmful ionizing radiation, such as X-rays, gamma rays, and neutron radiation. These materials function by either absorbing or scattering radiation, which reduces its intensity and minimizes its potential harmful effects.
The primary types of radiation shielding materials are for electromagnetic radiation and particle radiation. Electromagnetic radiation consists of energy traveling through space as electromagnetic waves, ranging from low-frequency radio waves to high-frequency gamma rays. Materials used for shielding electromagnetic radiation include lead shielding, lead composite shielding, non-lead, and lead-free shielding. These materials come in various forms such as sheets, blocks, bricks, panels, and castings. They are commonly used in applications such as diagnostic X-ray room shielding, CT scanner shielding facilities, MRI room shielding, nuclear medicine imaging shielding, radiotherapy shielding, radiation protection safety aprons, and other apparel and equipment. These materials serve a wide range of industries, including healthcare, manufacturing, construction, energy, and research.
The radiation shielding material market research report is one of a series of new reports from The Business Research Company that provides radiation shielding material market statistics, including the radiation shielding material industry global market size, regional shares, competitors with the radiation shielding material market share, detailed radiation shielding material market segments, market trends, and opportunities, and any further data you may need to thrive in the radiation shielding material industry. This radiation shielding material market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The radiation shielding material market size has grown strongly in recent years. It will grow from $0.67 billion in 2024 to $0.72 billion in 2025 at a compound annual growth rate (CAGR) of 6.8%. The growth during the historic period can be attributed to factors such as the growing use of ionizing radiation in medical imaging, a higher demand for radiotherapy procedures, the increasing prevalence of cancer, greater awareness of radiation safety, and rising healthcare expenditure.
The radiation shielding material market size is expected to see strong growth in the next few years. It will grow to $0.93 billion in 2029 at a compound annual growth rate (CAGR) of 6.5%. The growth during the forecast period can be attributed to factors such as the increasing use of nuclear medicine, a rising number of diagnostic imaging procedures, a growing incidence of diseases requiring radiation therapy, a greater inclination towards medical imaging, and increasing investments in healthcare infrastructure. Key trends expected to drive growth include advancements in diagnostic and therapeutic technologies, innovations in medical technology, progress in material science, the integration of nanotechnology, and the development of advanced composites for lightweight solutions.
The growing number of medical imaging procedures is expected to drive the expansion of the radiation shielding material market. Medical imaging procedures are diagnostic techniques that utilize various technologies, such as X-rays, magnetic resonance imaging (MRI), and ultrasound, to visualize the inside of the body for detecting and monitoring health conditions. The rise in medical imaging procedures can be attributed to advancements in imaging technology, the increasing prevalence of chronic diseases, greater awareness and accessibility, and regulatory support for advanced healthcare technologies. Radiation shielding materials, such as lead and lead-free alloys, are used in medical imaging to protect both patients and healthcare workers from harmful radiation exposure while ensuring high-quality imaging. For example, in November 2023, the National Health Service, a UK-based government department, reported that England recorded 45.0 million imaging tests in the year ending March 2023, marking a 2.2% increase from 44.0 million in the previous year. Thus, the increasing number of medical imaging procedures is fueling the growth of the radiation shielding material market.
Leading companies in the radiation shielding material market are focusing on creating innovative products, such as polymer tungsten, to improve radiation protection while reducing weight and enhancing durability for a range of industrial uses. Polymer tungsten for radiation shielding is a composite material made by combining tungsten with a polymer matrix, providing a lightweight and effective alternative to traditional lead-based shielding. For example, in November 2024, Stanford Advanced Materials (SAM), a US-based manufacturer, introduced Polymer Tungsten, a new radiation shielding material made by combining tungsten powder with polymer resins. This product offers a flexible, environmentally friendly alternative to lead-based shielding, which is harmful due to its toxicity. Polymer tungsten maintains strong radiation resistance while being easier to shape and handle, making it ideal for use in medical equipment such as X-ray machines and computed tomography (CT) scanners.
In March 2022, Trivitron Healthcare Private Limited, a medical device company based in India, acquired The Kennedy Company for an undisclosed amount. Through this acquisition, Trivitron Healthcare intends to broaden its global radiation protection manufacturing capacity, boost its presence in the U.S. market, and develop a vertically integrated medical technology platform with improved research, development, and production capabilities. The Kennedy Company, a U.S.-based firm, specializes in providing radiation shielding materials to protect against ionizing radiation across multiple industries.
Major players in the radiation shielding material market are General Electric Healthcare, L3Harris Technologies Inc., ESCO Technologies Inc., Mirion Technologies Inc., Ultraray Group Inc., ETS-Lindgren Inc., Berthold Technologies GmbH And Co.KG, Nelco Worldwide, Wardray Premise Ltd., Dynalab Corp, Techno-Aide Inc., Alimed Inc., Universal Shielding Corporation, MarShield Radiation Protection Services Inc, Veritas Medical Solutions, Plastic Design Inc, Tungsten Heavy Powder And Parts Inc., Amray Medical Limited, Ray-Bar Engineering Corporation, A And L Shielding Inc, MWT Materials Inc., Nuclear Lead Co. Inc, Protech Medical Inc, Radiation Shielding Technologies Inc., and XrayCurtains.com.
North America was the largest region in the radiation shielding material market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in radiation shielding material report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the radiation shielding material market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The radiation shielding material market consists of sales of lead-based shielding materials, concrete and high-density concrete, tungsten-based shielding, polymer-based shielding materials, and bismuth and bismuth-based compounds. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Radiation Shielding Material Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on radiation shielding material market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for radiation shielding material ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The radiation shielding material market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.