Feb 21, 2019
Epoxy Curing Agents Market Surpassed US$ 2.45 Bn in 2018, China Accounts for Nearly Half the Revenue: A Fact.MR Study
by Team Fact.MR
Epoxy curing agents are witnessing burgeoning demand, owing to their high mechanical strength, superior bonding property, and corrosion resistance, in industrial applications such as paints, coating, and inks. The latest Fact.MR report finds that the epoxy curing agents market surpassed US$ 2.45 billion in 2018, and epoxy curing agents are extensively used in various end-use industries, especially in developing countries, will boost the market in the coming future.
“Epoxy curing agents are chemical additives with an epoxide functional group and they are added to various types of resins to modify their mechanical properties and toughen them. Increasing applications for epoxy curing agents in the manufacturing electrical laminate and other components used in electronic products is expected to play a pivotal role in growth of the epoxy curing agents. Thereby, increasing applications of epoxy curing agents in the manufacturing of electronic products manufacturing will collectively will boost the epoxy curing agents market growth over the next decade,” according to Fact.MR.
The Fact.MR study sheds light on growth prospects of the epoxy curing agents market on regional as well as the global platform.
China to Spearhead the Market Growth with a Hefty Revenue Share
The incremental growth prospects of the epoxy curing agents market are predominantly attributing to exponentially increasing consumption of epoxy curing agents in the paints, coatings, and ink industry in developing countries. The Fact.MR report finds that China accounts for nearly 45% revenue share in the epoxy curing agents market with maximum consumption in rapidly-growing end-user industries in the country.
The automotive industry is China has been witnessing robust growth since the past few years, and increasing automotive production in the country continues to create lucrative growth opportunities for stakeholders in the epoxy curing agents market. Moreover, floorings and manufacturing industries hold a significant share in the impressive growth of the epoxy curing agents market in China. Thereby, epoxy curing agents market is gaining traction in the Asia-Pacific region to become the most lucrative region followed by Western Europe, according to the Fact.MR report.
The Fact.MR report on epoxy curing agents assesses market dynamics, including macro and microeconomic factors influencing the market growth, to land important insights on how the market will grow during the coming decade. Some of the important insights featured in the Fact.MR report include,
- Epoxy cured resins find numerous applications as protective coatings for aerospace components, automotive bodies, floorings, wind rotor blades, and other parts that need to be resistive to moisture and corrosion. This one of the leading factors to boost growth of the epoxy curing agents market.
- Superior color stability, high viscosity, and excellent adhesion property are among the key characteristics of epoxy curing agents that are boosting its applications in the paints & coatings industry.
- Apart from the paints & coatings industry, automotive, construction, and aerospace, industries play a pivotal role in growth of the epoxy curing agents market.
- Industry-wide lightweighting trend is likely to bolster innovations in the epoxy curing agents market, as epoxy curing agents are replacing metals and other heavy raw materials in various industrial applications.
- Amines and polyamines are the most sought-after epoxy curing agents, however the imposition of strict environmental rules are likely to make amides and polyamides the fastest growing type of epoxy curing agents, thereby, changing the future of the epoxy curing agents market.
The Fact.MR study provides futuristic overview of the epoxy curing agents market by assessing critical growth parameters of the market between the period 2018 and 2028. The study predicts that the market will envisage incremental growth at a healthy 5% CAGR to exceed US$ 4 billion by the end of forecast period.