Shibuya-ku, Tokyo, Japan, Japan, Jun 02, 2022, 08:05 /Comserve / -- Epoxy Curing Agent Market size, share, growth, trends, segmentation, top key players, strategies, demand, statistics, competitive landscape and forecast.
The market for epoxy curing agent is expected to grow at a CAGR of about 5% globally during the forecast period. Growing demand from the construction industry and new developments in lightweight composite materials are driving the market. On the flip side, environmental regulations on amine-based curing agents, and higher production costs are hindering the market growth.
- Epoxy curing agent market is expected to grow during the forecast period owing to the increasing demand from the construction segment.
- Asia-Pacific region to dominate the market across the globe with the largest consumption from countries such as China and India.
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Key Market Trends
Increasing demand from the Construction Industry
- Epoxy curing agents are used mainly in the construction industry and is expected to be the fastest-growing market during the forecast period.
- Epoxy curing agents are used to cure epoxy resin by reacting with epoxide groups or by promoting the self-polymerization of the epoxy group by catalytic action.
- In the construction industry, Epoxy curing agents are used to produce thermosetting adhesives that provide environmental resistance and superior strength.
- Epoxy curing agents are used in the development of lightweight composites for building and construction to provide architectural infrastructure and to overcome the construction challenges.
- Epoxy resins as primers, sealers and waterproofing agents are extensively used to protect concrete from moisture. They provide great adhesion, fast dry and high mechanical strength to concreate.
- The market growth of epoxy curing agents is fueled by the increasing use of epoxy resins in the construction industry
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for Epoxy curing agents during the forecast period as a result of the increase in demand from countries like India and China.
- Epoxy curing agents are used in primer and topcoat formulations for marine structures, bridges, and tanks because of their excellent adhesion to metal, high impact resistance, and toughness. The increase in demand for high resistance coatings in the marine and construction industries is expected to drive the market for epoxy curing agents.
- In union budget 2019-20, India allocated about USD 61.96 billion for the developments in the defense sector. The increase in investments in the military sector from India is expected to drive the growth for epoxy curing agents.
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- The Chinese government is investing about USD 119 billion for the development of railway infrastructure and USD 268 billion for the road and water projects which are expected to be completed by 2023. The growing demand from China’s construction industry is expected to drive the market for epoxy curing agents.
- Apart from coatings, Epoxy curing agents are mainly used in the manufacture of electrical composites as they provide good mechanical strength, high electrical insulation and thermal endurance.
- The aforementioned factors coupled with government support are contributing to the increasing demand for epoxy curing agent market in Asia-Pacific region during the forecast period.
Competitive Landscape
The global epoxy curing agent market is partially fragmented with players accounting for a marginal share of the market. Few companies include BASF SE, Atul Ltd., Hexion, Olin Corporation and Cardolite.
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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 Growing Demand from the Construction Industry
4.1.2 New Developments in Light Weight Composite Materials
4.2 Restraints
4.2.1 Environmental Regulations on Amine Based Curing Agents
4.2.2 Higher Production Costs
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Amines
5.1.2 Polyamides
5.1.3 Anhydrides
5.1.4 Others
5.2 By Application
5.2.1 Construction
5.2.2 Paints & Coatings
5.2.3 Adhesives & Sealants
5.2.4 Electrical and Electronics
5.2.5 Others
5.3 By Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 Italy
5.3.3.4 France
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Atul Ltd
6.4.2 BASF SE
6.4.3 Cardolite
6.4.4 Epochemie - Epoxy Curing Agents
6.4.5 GABRIEL
6.4.6 Hexion
6.4.7 KUMHO P&B CHEMICALS.,INC.
6.4.8 Olin Corporation
6.4.9 Shandong Deyuan Epoxy Resin Co.,Ltd,
6.4.10 Supreme Polytech Pvt. Ltd
6.4.11 Vijai Poly Products Pvt. Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Development of New Environmental Friendly Low or Non-VOC Epoxy Curing Agents
7.2 Other Opportunities
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