Global Epoxy Curing Agents Market – Industry Structure Evaluation, Demand Drivers Analysis, Regional Growth Analysis and Identification, Competitive Positioning / Landscape Review & Global Market Size Forecast to 2029
Overview
Global Epoxy Curing Agents Market is expected to reach US$ 8.26 Bn. by 2029, at a CAGR of 6.9% during the forecast period.
The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Epoxy Curing Agents Market Overview:
Epoxy resins are low molecular weight pre-polymers or higher molecular weight polymers. Selecting the right curing agent is most important, as it influences the viscosity, reactivity, and working time of resins in mechanical, chemical, and optical properties specifically. The epoxy agent works efficiently when combined with epoxy resins and reactive modifiers to meet a variety of application challenges. The selection of epoxy curing agents is completely based upon the type of resin and requires a degree of hardness. Each epoxy curing agent has its properties, which describe the degree of curing along with the time required to cure the resin. Epoxy resins are widely used in various industries, like oilfields, electronics, and more playing significant roles in the modern world.
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Market Dynamics:
Availability of a wide range of applications in industrial coatings, automotive applications, metal-to-metal adhesives, and electronic potting sectors are key factors driving the growth of the global epoxy curing agent market in the future. The demand for epoxy curing agents-based resin formulations, mostly from the paints & coatings industry. Moreover, the demand for epoxy resin-based composites in the aerospace and wind energy industries is supporting the growth of the global market during the estimated period. Also, increasing the adoption of epoxy curing agents in civil engineering, and construction applications, like concrete bonding, flooring, and marble laminate is further expected to fuel the growth of global market in the future. For instance, in the construction industry, the tertiary and secondary amines, imidazole, and polysulfide resins are used to produce adhesive or thermosetting adhesives, which offers superior strength and environmental resistance, are broadly used across the construction industry.
Rising R&D in numerous new applications, like electrical laminates, maintenance coatings, and marine coatings to provide customized properties according to the requirement is among the key strategies for industry growth. Along with this, to suffice the demand for a product, significant investment in R&D activities is required to capture the epoxy curing agent's market share in the forecasted period.
On the other hand, the availability of substitutes for epoxy curing agents, severe environmental regulations, and cost of the production process serves as a key restraining factor in the growth of the global epoxy curing agent market during the forecast period. Also, stringent environmental regulations in the European region about restraining the use of volatile organic solvents may act as a challenge for epoxy curing agent’s market growth in the region. Benzyl alcohol used as a modifier is considered as VOC and content for the same is regulated depending upon its usage.
Market Segment Analysis:
In terms of the product type, the amine-based curing agents are the largest segment of the market and are expected to grow at the highest CAGR of a xx% in the forecast period. Because they have a longer life span and chemical resistance compared to other curing agents. These curing agents play a vital role in determining the properties of the final cured product. The properties of amine-based curing agents include chemical & thermal resistance and weather ability. The primary applications of amine-based curing agents include coatings, adhesives, composites, and electrical & electronics, among others.
By the application segment, the construction industry expected to hold the largest market share of the global market by 2029. An increase in the use of epoxy curing agents in construction applications, like increasing concrete bonding, flooring, and marble laminate is expected to boost the market in the forecast period.
Region-wise, Asia Pacific is expected to hold the largest market share of the global market by 2029, in terms of revenue. Because of rising infrastructure facilities and support from government and private organizations in the region. India and China are expected to hold market share in the Asia Pacific region. China is one of the largest producers of epoxy curing agents, worldwide and is expected to dominate the overall global consumption of epoxy curing agents in the future. Also, growing income and numerous end-use product producers in countries, such as South Korea, Malaysia, and Indonesia will further drive the regional epoxy curing agent’s market size.
The market in Europe is expected to hold the second-largest market share in terms of revenue by 2029, thanks to rising automobile sector and growth of the market by key players in the region.
The objective of the report is to present a comprehensive analysis of the Global market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Epoxy Curing Agents Market dynamics, structure by analyzing the market segments and project the Global market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Epoxy Curing Agents Market make the report investor’s guide.
Epoxy Curing Agents Market Scope: Inquire before buying
| Global Epoxy Curing Agents Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2022 | Forecast Period: | 2023-2029 |
| Historical Data: | 2018 to 2022 | Market Size in 2022: | US $ 5.17 Bn. |
| Forecast Period 2023 to 2029 CAGR: | 6.9% | Market Size in 2029: | US $ 8.26 Bn. |
| Segments Covered: | by Product Type | Amines Polyamides Imidazole Anhydrides Others |
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| by Application | Building & construction Transportation Electrical & electronics Wind energy Others |
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Epoxy Curing Agents Market, by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Epoxy Curing Agents Market Key Players
1. Huntsman International LLC
2. Hexion Inc.
3. Cardolite Corporation
4. Gabriel Performance Products, LLC
5. Epochemie International Pte. Ltd.
6. RPM International Inc.
7. The DOW Chemical Company
8. BASF SE
9. Evonik Industries AG
10. Shandong Deyuan Epoxy Resin Co., Ltd.
11. DuPont
12. KUKDO Chemical (Kunshan) Co., Ltd.
13. Shanghai Hansui Trading Co., Ltd
14. Saint-Gobain
15. Mitsubishi Chemical Corporation
16. TORAY INDUSTRIES, INC.
17. Bitrez
18. ThreeBond Holdings Co., Ltd.
Frequently Asked Questions:
1. Which region has the largest share in Global Epoxy Curing Agents Market?
Ans: Asia Pacific region held the highest share in 2022.
2. What is the growth rate of Global Epoxy Curing Agents Market?
Ans: The Global Epoxy Curing Agents Market is growing at a CAGR of 6.9% during forecasting period 2023-2029.
3. What is scope of the Global Epoxy Curing Agents market report?
Ans: Global Epoxy Curing Agents Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Epoxy Curing Agents market?
Ans: The important key players in the Global Epoxy Curing Agents Market are – Huntsman International LLC, Hexion Inc., Cardolite Corporation, Gabriel Performance Products, LLC, Epochemie International Pte. Ltd., RPM International Inc., The DOW Chemical Company, BASF SE, Evonik Industries AG, Shandong Deyuan Epoxy Resin Co., Ltd., DuPont, KUKDO Chemical (Kunshan) Co., Ltd., Shanghai Hansui Trading Co., Ltd, Saint-Gobain, Mitsubishi Chemical Corporation, TORAY INDUSTRIES, INC., and Bitrez
5. What is the study period of this market?
Ans: The Global Epoxy Curing Agents Market is studied from 2022 to 2029.