Epoxy Curing Agents Market Is Forecast To Reach A Valuation Of US$ 4.18 Billion By The End Of 2028

Thursday, 12 May 2022, 7:05 pm
Press Release: Future Market Insights

The global epoxy curing agents market is estimated to surpass US$ 4 Bn by the end of 2028, according to a recent research report published by Future Market Insights. In terms of value, the market is apprehended to exhibit a progressive CAGR of 5% over the assessment period, 2022-2028. Successful emergence of bio-based and water-based epoxy curing agents is expected to drive the market during the next 10 years.

“Increasing consumption of epoxy resins by electrical laminate manufacturers and substantial demand for printed circuit boards (PCBs), which are widely used in electronic products manufacturing, will collectively push the market for epoxy curing agents over the next decade. The market will also gain a significant thrust by fuel-efficiency regulations set for the use of lightweight materials by automakers and aerospace component manufacturers,” discovers a team of research analysts at Future Market Insights.

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China to Remain at the Center Stage in Terms of Revenue Generation

As per the insights provided through regional assessment, the global market for epoxy curing agents has been led by China over the years. The Chinese market currently accounts for a major chunk of global revenues, i.e. nearly 45%. This growth is predominantly attributed to hefty consumption of epoxy agents by paints, coatings, and ink industry. 

Moreover, China has been witnessing fostering demand for coatings, specifically from automotive, floorings, and manufacturing industries, which will further result in bolstering traction to epoxy curing agents in near future. Western Europe is foreseen to secure the second position in terms of revenue contribution, owing to high demand for renewable energy resources.

Emerging Economies to Rise Rapidly Despite Low-volume Market Sizes

While North America is presumed to observe sluggish growth throughout the forecast period, it has been reported that developing countries in emerging economies such as Latin America, South East Asia Pacific (SEAP), and Middle East and Africa (MEA) will encounter with attractive opportunities in upcoming years. 

The developing regions are foreseen to be the ‘high-growth, low-volume’ markets for epoxy curing agents. SEAP is anticipated to thrive at a promising CAGR of around 5.2% over 2018-2028, led by India, Thailand, and South Korea. ASEAN countries are projected to open multiple doors of opportunities for power generation and construction industries.

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Key Companies Profiled

• Huntsman Corporation
• Olin Corporation
• Hexion Inc.
• Evonik Industries AG
• BASF SE
• Cargill Incorporated
• Mitsubishi Chemical Corporation
• DIC Corporation
• Showa Denko KK
• Aditya Birla Corporation
• Toray Fine Chemicals Co. Ltd.
• Gabriel Performance Products.
• Others

Epoxy Curing Agents Market by Category

By Product:

• Amines and Polyamines
• Amides and Polyamides
• Anhydrides
• Phenolic
• Others

By Application:

• Paints, coatings and inks
• Adhesives and Sealants
• Composites

By End Use:

• Construction
• Electrical and electronics
• Power Generation
• Automotive and Transportation
• Marine
• Others

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Epoxy Curing Agents Market - Competitive Landscape

Leading players operating in global epoxy curing agents market are developing heat resistant epoxy curing agents to cater to the surging demand from electronics and automotive industries. They are also adopting expansion strategies such as partnerships and collaborations with end-user to expand their customer base.

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