Epoxy Curing Agents Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMCH808 | Last Updated On: Jun 29 2022 | Available Formats

> Global Epoxy Curing Agents Market Expected to reach at a high CAGR of 5.28% by 2029: DataM Intelligence

Global Epoxy Curing Agents Market is segmented By Type(Amines, Polyamide, Imidazoles, Polymercaptan, Anhydrides, Polymercaptan),By Application(Construction, Adhesives, Coatings, Electric & Electronics),and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis,  2022-2029

 

Market Overview

The Global "Epoxy Curing Agents Market" is expected to grow at a high CAGR of 5.28% during the forecasting period ( 2022-2029).

  • Epoxy curing agents contain an epoxide functional group. Curing agents are a kind of chemical additives added to resins to harden or toughen polymers by cross-linking polymer chains.

Market Dynamics

  • Epoxy curing agents are widely used in various end-user industries owing to their superior properties such as mechanical strength, chemical strength, and electrical insulation. Increased demand for epoxy curing agents in the refinery industry is likely to enhance the epoxy curing agents market.

  • These are also used to manufacture printed circuit boards for various kinds of electronic products like mobile devices, automotive electronics, and others. In refineries, epoxy curing agents are used as corrosion inhibitors.

  • It has also been observed that the construction industry is expected to drive demand for epoxy curing agents market globally.

  • Additionally, stringent regulations made for the usage of lightweight components in the aerospace and automotive sectors are surging the demand for epoxy curing agents market.

  • However, increasing the cost of raw material used in wind energy and aerospace industries has increased the total cost of epoxy curing agents. Also, some concerns related to the environment like the discharge of harmful compounds called volatile organic compounds are hindering the growth of the market.

Epoxy Curing Agents Segmentation

  • Based on the type the global epoxy curing agents market is broadly segmented into amines, polyamide, imidazoles, polymercaptan, anhydrides, polymercaptan, and others.

  • Among all these the amine-based curing agents is the largest segment of the epoxy curing agents market and is expected to grow at a higher rate in the forecast period because they have a longer life span and are chemical resistant compared to other curing agents.

  • These curing agents play a crucial role in determining the properties of the final cured product. The features 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. The rise in demand for coatings, electrical & electronics industries is boosting the amine-based epoxy curing agents segment.

  • Based on the application the global epoxy curing agents market is broadly segmented as coating, building & construction, adhesives, and others

  •  Among all these construction industries occupies the dominant share. The construction industry is a significant factor fuelling demand for epoxy curing agents. An increase in the use of epoxy curing agents in construction applications such as increasing concrete bonding, flooring, and marble laminate is predicted to boost the epoxy curing agents market in the forecast period.

Geographical Share

  • Global epoxy curing agents market is segmented by geographic region which includes North America, South America, Europe, Asia-Pacific, and Middle East & Africa.

  • The Asia Pacific occupies the dominant share in the epoxy curing agents market and is expected to grow at a high CAGR of in the forecast period.

  • Owing an increase in demand for coatings, adhesives, composites in India, China, Taiwan, and South Korea have made the Asia Pacific the largest consumer of the global epoxy curing agents.

  • This region holds many opportunities for industry players who are willing to invest because of low initial investments and cost-effective labor. Also, the rising demand for epoxy curing agents of key applications such as coatings, electrical & electronics, wind energy, construction, adhesive, composite, and others from countries such as India, China, and Japan are projected to drive the growth of the epoxy curing agent market in the region.

Competitive Trends

  • Significant players in the global epoxy curing agents market are Evonik Industries AG, Hexion Inc., BASF SE, Huntsman International LLC, Mitsubishi Chemical Corporation, Aditya Birla Chemicals, Cardolite Corporation, The Dow Chemical Company, Kukdo Chemical Co., Ltd., Air Products and Chemicals, Inc., and Others. Product launches, partnerships, and expansions are some of the strategies adopted by players to increase their market share.

  • For instance, in April 2018, Hexion launched a new hybrid epoxy resin product EPOSIL Resin 5550, which offers superior performance in protective coatings, excellent resistance to corrosion, high resistance to temperature, and anti-graffiti properties.

Key Takeaways

  • In January 2019, Cardolite Corporation launched LITE 5262, an amine-based curing agent for 2-component epoxy coatings.

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