Jul 10, 2020
Epoxy Hardener Market to Expand 1.8X by 2030; Decline in Production by End-use Industries Due to COVID-19 Pandemic Stunting Market Growth
by Team Fact.MR
Electricals & electronics account for a majority of the epoxy hardener market share. Marine, power, and aerospace industries would remain as key market segments that need to be focused on, as there has been significant increase in demand from these industry. Furthermore, the growing electronics industry, backed by increasing demand for PCBs and ICs, has also resulted in significant rise in the demand for epoxy adhesives. Epoxy 3D flooring is being increasingly utilized in shopping centers, lobbies, workplaces, homes, and attics. This increasing popularity of 3D epoxy flooring is set to create numerous market opportunities for the epoxy hardener market.
An exhaustive study by Fact.MR concludes that, the global epoxy hardener market will progress at a steady CAGR of 6% throughout the forecast period of 2020 to 2030.
Key Takeaways from Global Epoxy Hardener Market Study
- Polyamide-based epoxy hardeners are estimated to account for one-fourth of the market revenue share by 2020 end, but are expected to lose 200 BPS in their market share by 2030.
- The special epoxy hardeners segment is expected to register a CAGR of more than 5% over the forecast period, to be valued at US$ 1.5 Bn by 2030 end.
- The largest share is contributed by the liquid form of epoxy hardeners. This segment is expected to represent around US$ 2.5 Bn of the market in 2020.
- The paints & coatings segment in the epoxy hardener market is estimated to account for 28.5% of the market revenue share by 2020 end, and is expected to gain 70 BPS in its market share by 2030.
- By industry, the largest share is contributed by electricals & electronics in the epoxy hardener market. This is expected to represent US$ 566 Mn of the market in 2020.
- The North America epoxy hardener market is expected to expand at a CAGR of nearly 5% through 2030.
- The COVID-19 outbreak has affected most industries around the world. Major end-use industries of epoxy hardeners, such as construction and consumers electronics have been affected too, which has adversely affected the demand for epoxy hardeners.
“Advancing construction industry and mounting demand for 3D epoxy flooring in urban and semi-urban areas are factors set to aid the growth of the epoxy hardener market over the coming years,” says a Fact.MR analyst.
Key Players to Focus on Product Innovation and Capacity Expansion
Prominent players in the epoxy hardener market include Aditya Birla Chemicals Ltd., Dow, Hexion, Inc., Evonik Industries AG, BASF, Gabriel Performance Products LLC, and Kukdo Chemical Co., Ltd. The key players are adopting aggressive growth strategies for establishing their presence in the global and regional markets. They are also focusing on product innovation and capacity expansion to meet the increasing demand, remaining compatible with associated application usage.
More Valuable Insights on Epoxy Hardener Market
Fact.MR, in its new offering, presents an unbiased analysis of the global epoxy hardener market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study delivers essential insights on the epoxy hardener market on the basis of product group (polyamides, amino amines, aliphatic amines, cycloaliphatic amines, aromatic amines, phenalkamine, and anhydride), type (special hardeners, slow epoxy hardeners, medium epoxy hardeners, and fast epoxy hardeners), form (liquid and solid), application (composites, adhesives, paintings & coatings, and others) and end-use industry (construction, electricals and electronics, power, transportation, marine, aircraft, decoration, furniture, and others), across six major regions.
About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemicals & materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the chemicals & materials industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.