Search Market Research Report
Epoxy Curing Agents Market Size, Share Global Analysis Report, 2022 – 2028
Epoxy Curing Agents Market By Type (Amine-based Curing Agents, Anhydrides Curing Agents, Others), By Application (Coatings, Electrical & Electronics, Wind Energy, Construction, Adhesive, Composite, Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2022 – 2028
Industry Insights
[214+ Pages Report] According to Facts and Factors, the global epoxy curing agents market was worth around USD 4,642.8 million in 2021 and is estimated to grow to about USD 6,851.1 million by 2028, with a compound annual growth rate (CAGR) of approximately 6.7% over the forecast period. The report analyzes the epoxy curing agents market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the epoxy curing agents market.
Market Overview
Epoxy curing agents are widely used in multiple construction and industrial applications and this is expected to majorly propel the epoxy curing agents market potential over the forecast period. Rapid urbanization and industrialization on a global scale have spawned a new demand for construction activity and subsequently drove the epoxy curing agent's market potential.
These epoxy curing agents have excellent bonding properties and are perfectly suitable for high-quality applications that require maximum structural integrity and hence have found a wide scope of application in multiple industries. However, the stringent government mandates that prohibit the use of volatile and harmful chemicals are expected to slow down the epoxy curing agents market growth in the long term.
COVID-19 Impact:
The COVID-19 pandemic led to a halt in construction activity on a global scale as the spread of coronavirus infections resulted in a rampant pandemic that engulfed the world. To contain the spread and control the pandemic situation multiple nations proceeded to lockdowns that restricted outdoor activity and resulted in losses for epoxy curing agents companies.
Downtime of production facilities restricted construction activity, and lapses in the logistics chain are other factors that led to the downfall of the epoxy curing agents marketplace in 2020. The negative trend of the market is expected to diminish as the pandemic subsides and the restrictions are lifted. Increased construction activity and resumed industrial activity will drive the epoxy curing agent's market potential in the post-pandemic era.
Growth Drivers
- Increasing use of coatings and paints to drive growth
Industrialization and urbanization are the most prominent trends across the world at the moment and are expected to majorly boost demand for epoxy curing agents as they spawn a newly increased demand for infrastructure development. The rise in construction activity in both industrial and commercial sectors is expected to boost the use of epoxy curing agents on a global scale through 2028.
Restraints
- Strict government norms to hamper growth
Epoxy curing agents generally utilize harmful chemicals and material that could potentially hurt the environment in an adverse manner either in use or the disposal and this factor alone is projected to have a major constraining effect on the global epoxy curing agents market landscape. The world is focusing on conserving the environment and this trend is pushing governments to implement strict mandates to stop this and save nature hence these mandates will further restrain the epoxy curing agents market from reaching its full potential through 2028.
Opportunities
- Increasing deployment of wind energy plants
Epoxy curing agents have found a good scope of application in the wind energy sector as they are used for wind turbine blades due to their shear strength and flexible capabilities that make the construction of blades a really simple task and this factor is providing lucrative opportunities for zzz companies and they are expected to cash in on this potential over the forecast period.
Segmentation Analysis
The global epoxy curing agents market is segregated based on type, application, and region.
By Type, the market is divided into Amine-based Curing Agents, Anhydrides Curing Agents, and Others. The amine-based curing agents segment will account for a major market share over the forecast period and will lead the epoxy curing agents market growth trend through 2028. Better curing time and better shelf life are two major factors that propel the growth of this segment over the forecast period.
By Application, the epoxy curing agents market is segmented into Coatings, Electrical & Electronics, Wind Energy, Construction, Adhesive, Composite, and Others. The wind energy segment is anticipated to have a dominant outlook over the forecast period owing to the rising demand for epoxy curing agents in this application. Demand for construction applications will also see good growth over the forecast period.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 4,642.8 million |
Projected Market Size in 2028 |
USD 6,851.1 million |
CAGR Growth Rate |
6.7% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
Evonik Industries (Germany), Hexion Inc. (US), Huntsman Corporation (US), Cardolite Corporation (US), BASF S.E. (Germany), and Others |
Key Segment |
By Type, Application, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
Request customized purchase options to meet your research needs. Explore purchase options |
Regional Landscape
Asia Pacific region leads the global epoxy curing agents market in terms of volume share and this can be attributed to the high infrastructure development demand in this region that is giving birth to new construction opportunities in this region. Especially emerging economies of India and China are expected to offer highly lucrative opportunities owing to rapid industrialization and urbanization in these nations. Increasing construction activity, supportive government initiatives, and increasing deployment of wind energy plants are other factors that will boost the epoxy curing agent's market potential over the forecast period.
Recent Developments
- In August 2018 – BASF SE a German Chemical giant announced the extension of its partnership with Gustav Grolman GmbH & Co. KG which is a renowned specialty ingredient company for marketing its amine-based curing agents in Europe.
Competitive Landscape
Some of the main competitors dominating the global epoxy curing agents market include -
- Evonik Industries (Germany)
- Hexion Inc. (US)
- Huntsman Corporation (US)
- Cardolite Corporation (US)
- BASF S.E. (Germany).
The global epoxy curing agents market is segmented as follows:
By Type Segment Analysis
- Amine-based Curing Agents
- Anhydrides Curing Agents
- Others
By Application Segment Analysis
- Coatings
- Electrical & Electronics
- Wind Energy
- Construction
- Adhesive
- Composite
- Others
By Regional Segment Analysis
- North America
- The U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Reunion
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Content
Industry Major Market Players
- Evonik Industries (Germany)
- Hexion Inc. (US)
- Huntsman Corporation (US)
- Cardolite Corporation (US)
- BASF S.E. (Germany)
Copyright © 2023 - 2024, All Rights Reserved, Facts and Factors