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Epoxy Curing Agents Market

An Incisive, In-depth Analysis on the Epoxy Curing Agents Market

This study offers a comprehensive, 360 degree analysis on the Epoxy Curing Agents market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Epoxy Curing Agents market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

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The global revenue through sales of epoxy curing agents currently values near US$ 2.5 Bn and is slated to double the growth at a CAGR of 5% over 2018-2028. Over the next decade, the global epoxy curing agents market is expected to exceed the revenue worth US$ 4 Bn and experience a moderate pace in terms of growth.

Persistent Demand from End-users Coupled with Innovations to Boost Consumption

Soaring demand for epoxy resins by manufacturers of electrical laminates is identified to be a key factor fueling the market growth over the assessment period. Moreover, stringent regulatory norms set for the use of lightweight materials in automotive as well as aerospace industries will continue to hold a substantial impact on the market performance in upcoming years. The global market for epoxy curing agents will reportedly witness bolstering use of bio-based curing agents and development of an innovative range of low-temperature, low-curing time epoxy curing agents in near future.

Epoxy curing agents tend to release certain harmful volatile organic compounds (VOCs), which compels manufacturers to concentrate on developing eco-friendly curing agents that are ideal for the ‘Level of Prominence’ coating applications. The market is thus witnessing a boost in the demand for water-based agents worldwide. One of the most prominent factors driving the growth of epoxy curing agents market includes substantial demand for printed circuit boards (PCBs) in the manufacturing of an exhaustive range of electronic products such as smartphones, mobile devices, machinery, automotive electronics, and other consumer electronics.

Revenues from Applications in Coatings to Expand 1.6X over 2018-2028, Composites Identified to Witness Attractive Opportunities

Paints, coatings, and inks will remain the leading application-based segment, representing a value worth US$ 1.8 Bn by 2028 end, closely trailed by the composites segment. However, composites are likely to exhibit the fastest growth at a CAGR of 5.5% over the forecast period, primarily attributed to augmenting applications in lightweight automotive and aerospace components. Composites are expected to experience surging consumption by transportation industry, electrical materials industry, and wind energy generation industry. Adhesives and sealants will remain a promisingly growing segment, owing to an expanding application base for epoxy curing agents in this sector. Epoxy-cured resins are extensively used as protective coatings for automotive bodies, aerospace components, wind rotor blades, floorings, and other parts, which are sensitive to corrosion and rust. High thermal stability and electrical insulation properties of epoxy curing agents remain the key drivers fueling the applications in highly trending PCB (printed circuit boards) manufacturing.

Amines & Polyamines Lead by Product Type, China to Spearhead Global Market by Region

Amines and polyamines are anticipated to dominate in terms of product type, whereas China is foreseen to be the leading regional market for epoxy curing agents. Amines and polyamines segment, though has more than 48% share of the current global market revenue, is expected to lose its market share to a more popularly thriving segment, i.e. amides and polyamides. Although the amines and polyamines segment is anticipated to witness a CAGR value of more than 5% over 2018-2028, it is facing stringent regulatory norms regarding VOC emissions, eventually resulting in a falling market value share.

The regional analysis reaffirms continued dominance of China with a maximum revenue share of around 45%, which is prominently owing to surging demand for coatings from automotive and construction industries. A growing number of wind capacity installations in the Chinese industry will also play a key role in fueling demand in next decade. While Western Europe will continue to be another key market with a decent value share, North America is presumed to exhibit sluggish growth throughout the assessment period. On the flipside, developing economies, including South East Asia Pacific (SEAP), Latin America, and Middle East and Africa (MEA) will develop low-volume, high-growth markets for epoxy curing agents.

Epoxy curing is a material mixed with epoxy polymer to get better results from epoxy polymer. Epoxy resins are used in in wide range of fields like construction, electronics, paints etc. Epoxy resins have inbuilt bonding capacity and after curing it acquires excellent properties on mechanical strength, electrical insulation and chemical strength. Epoxy resins are able to work in a much effective way when combined with curing agents. Hence, proper selection of curing agents is as important as selection of epoxy resin.

This report on the global epoxy curing agents market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. Key market players are concerned about developing better curing agents for untapped applications of epoxy resins like marine and maintenance coatings, electrical laminates etc. Additionally heightened R & D efforts by market players directed towards producing industry specific products will further drive the market growth.

Key Report Highlights:

Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint.
Epoxy Curing Agents Market Scenario

The report involves extensive analysis of the demand, trends, scenario, and global outlook for the epoxy curing agents market for the designated forecast period, 2018-2028. Paints, Coatings, and Inks, by far, are expected to remain dominant application segment for epoxy curing agents. Epoxy resin based protective coatings find application across various industries including automotive, aerospace, and marine among others. Another major application of epoxy curing agents is in the electrical and electronics industry where epoxy curing agents are used in production of printed circuit boards which constitute a key element for a number of devices, including mobile phones and electronic components in advanced electronics applications.

With increasing investments towards valorizing renewable energy sources for power generation, there has been a significant rise in new wind energy capacity installation across the globe. Epoxy resins are used in production of composites for the manufacturing of rotor blades. Epoxy resin based blades for wind mills are relatively lighter in weight and thus help ensure optimum efficiency. Over the recent past, a significant growth in average size of the windmills has in turn driven the growth in demand for epoxy resins and curing agents likewise. Use of epoxy curing agents as adhesives is also expanding at a significant rate owing to their strong adhesion property which allows them to efficiently join a variety of substrates. Increasing use of epoxy based adhesives in automotive applications is expected to drive the growth in consumption of epoxy curing agents over the forecast period.

China is expected to dominate the overall global consumption of epoxy curing agents throughout the forecast period. Amines & Polyamines are expected to continue to be used widely across a diverse set of industries during the forecast period, however, Amides and polyamides based curing agents are expected to witness a relatively faster growth during the same period. In order to sustain the existing market competition, majorly from China-based players, manufacturers have strategically located their production plants in the Asia Pacific region to reduce raw material procurement costs and additionally-imposed custom duties. In sync with this, major partnerships and long term supply agreements have been observed in the market. New production plants are being set up and the production capacities of existing plants are being ramped up.

Global Epoxy Curing Agents Market Segmentation:

Product Type