Fact.MR, a market research and competitive intelligence provider, forecasts the demand for epoxy curing agents to remain elevated, contributing US$ 1.17 Bn by the end of 2020. In addition, the increasing demand from electronic products is boosting the demand for epoxy curing agents. Thus, the sales of epoxy curing agents is expected to reach nearly US$ 2 Bn in the assessment period by registering a CAGR of nearly 5%.
Key Points Covered in Epoxy Curing Agents Industry Analysis
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Epoxy Curing Agents Market and How to Navigate
- Recommendation on Key Winning Strategies
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Epoxy Curing Agents Consumption Analysis 2016-2020 in Comparison to Future Outlook 2021-2031
According to Fact.MR’s report, between 2016 and 2020, the global epoxy curing agents industry grew at a CAGR of 4% to reach US$ 1.17 Bn by the end of the aforementioned period.
Manufacturers of epoxy curing agents are focusing on producing heat resistant curing agents that will not lose effectiveness at high temperatures. In addition, the demand from end user industries such as electronics, construction and aircrafts is driving the sales of epoxy curing agents.
Thus, due to the aforementioned reasons, the market for epoxy curing agents is expected to generate a market revenue of nearly US$ 2 Bn by registering a CAGR of almost 5% by the end of the forecast period 2021-2031.
How are Lightweight Materials Demand Spurring Epoxy Curing Agents Demand?
Stringent regulatory norms and quality standards are bolstering the use of lightweight materials in various industrial sectors, including aerospace and automotive industries. According to the Office of Energy Efficiency & Renewable Energy, a 10% reduction in vehicle weight can result in 6-8% fuel economy improvement.
Furthermore, the analysis states that using lightweight components and high-efficiency engines enabled by advanced materials could help conserve over 5 billion gallons of fuel annually by 2030. Hence, uptake of epoxy curing agents in the automotive sector is steadily growing.
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How is the Electronics & Electrical Industry Augmenting Epoxy Curing Agents Adoption?
Epoxy curing agents have been witnessing burgeoning demand for the manufacturing of printed circuit boards (PCBs) that are vastly used in an exhaustive range of electronic products, such as mobile devices, smartphones, automotive electronics, machinery, and other consumer electronics.
As living standards across emerging economies continue to improve, ownership of consumer electronics is increasing exponentially. For instance, in India, wearable technologies ownership increased by 170.3% YoY in Q1 2021. Likewise, in China, electronic parts investment comprise half of the total consumer electronics landscape. Hence, manufacturers are likely to find plenty of growth opportunities in these regions.
What Growth Prospects Abound Across China?
China is a hub for various manufacturing units. In addition, the presence of end user industries such as biomedical, marine, construction, mechanical and electronic has upsurged the demand for epoxy curing agents in both countries.
Moreover, the East Asian giant plans to heavily invest in the construction industry due to rapid urbanization. This, in turn, has increased the demand for epoxy curing agents in the region. Thus, according to Fact.MR, the region is expected to account for 45% of market share for epoxy curing agents in the sales indicator period.
Why are Epoxy Curing Agent Manufacturers Attracted to Europe?
Germany and France are two major countries which largely account for the largest share in the aerospace industry. Thus, the demand for epoxy curing agents is high across both countries, heightening prospects throughout Europe.
Top manufacturers of aircraft and mechanical industries has bolstered the demand for epoxy curing agents. Along with this, constant research and development to make the curing agent efficient is driving the sales for the same. Thus, the epoxy curing agent market is expected to account for more than 35% share in the assessment period.
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Why are Amines and Polyamines Gaining Traction?
Various types of epoxy curing agents, such as amides and polyamides, amines and polyamines, phenolic, and anhydrides, find numerous applications across various industrial sectors. Increasing demand for amines and polyamines in most industrial applications is leading to account for over 48% revenue share in the epoxy curing agents market.
However, owing to stringent regulatory norms due to harmful volatile organic compounds (VOCs) emissions vis-à-vis amines and polyamides, end-users in the epoxy curing agents market are shifting to amide and polyamides. Thereby, amines and polyamines are likely to lose their market share to amides and polyamides in the upcoming years.
Why is Automotive & Aerospace the Primary End Use Industry for Epoxy Curing Agents?
Increasing demand for incorporating lightweight material in accordance with stringent government regulations to improve performance efficiency is compelling manufacturers of automotive & aerospace components to include epoxy curing agents.
According to estimates by Fact.MR, the segment is expected to register a revenue share worth 65% across the 2021-2031 forecast period. Manufacturers are likely to find immense growth opportunities in the Asian region, as these are the emerging hubs for automotive manufacturing.
Prominent manufacturers of epoxy curing agents primarily emphasize on launching new epoxy curing agents, forging strategic partnerships and alliances, as well as acquiring existing players.
- In April 2018, Hexion Inc., a U.S.-based chemical company – launched EPI-REZ™ Resin 7720-W-50 – its new high-performance, epoxy dispersion resin. The company announced that, when it is combined with its EPIKURE™ epoxy curing agent 6870-W-53, the performance characteristics of the new EPI-REZ™ Resin, such as excellent corrosion resistance, superior adhesion to metal or concrete, and ease of formulation, which can fairly similar to those of solvent-borne systems at >50 grams/liter of volatile organic compounds (VOCs).
- In February 2019, Aditya Birla Corporation, an Indian multinational conglomerate in the epoxy curing agents market, announced that it has partnered with Lintech International, LLC, a leading specialty chemical distributor of resins, monomers, and epoxy curing agents, for distribution of its products, including the EPOTEC® & CeTePox® epoxy resins, epoxy curing agents, and diluents, in the U.S.
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Market size value in 2020
|USD 1.23 Billion|
Market forecast value in 2031
|USD 2 Billion|
|CAGR of 4.98% from 2021 to 2031|
Historical Data Available for
|US$ Mn for Value & ‘000 Units for Volume|
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Segments Covered
- Epoxy Amines and Polyamines
- Epoxy Amides and Polyamides
- Epoxy Anhydrides
- Phenolic Epoxy
- Other Epoxy Curing Agents
- Epoxy Paints, Coatings and Inks
- Epoxy Adhesives and Sealants
- Epoxy Composites
End Use Industry
- Epoxy Curing Agents for Construction
- Epoxy Curing Agents for Electronics and Electrical
- Epoxy Curing Agents for Power Generation
- Epoxy Curing Agents for Automotive and Aerospace
- Epoxy Curing Agents for Marine Industry
- Epoxy Curing Agents for Other Industries
Epoxy Curing Agents Market- Scope of Report
A recent study by Fact.MR on the epoxy curing agents market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering epoxy curing agents.
The study also provides the dynamics responsible for influencing the future status of the epoxy curing agents market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies operating in the epoxy curing agents market, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of epoxy curing agents across the globe.
A comprehensive estimate of the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of epoxy curing agents during the forecast period. Price point comparison by region with the global average price is also considered in the study.
Key Questions Answered in Report
- Which are the most lucrative epoxy curing agents markets?
- Which factors will impact the growth of epoxy curing agents?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the epoxy curing agents industry?
- What are the winning strategies of stakeholders in the market?
Analysis on Market Size Evaluation
The market has been analyzed for each segment in terms of volume (Tons) and value (US$ Mn).
Estimates at global and regional levels for epoxy curing agents are available in terms of “US$ Mn” for value and in “Tons” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report.
Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global epoxy curing agents market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the epoxy curing agents market during the forecast period.
Country-specific valuation on demand for epoxy curing agents has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries has also been included in the report.
In-depth Analysis on Competition Analysis
The report sheds light on leading manufacturers of epoxy curing agents, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering epoxy curing agents has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the epoxy curing agents industry.
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the epoxy curing agents industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.
- FAQs -
As of 2020, the market for epoxy curing agents reached US$ 1.17 Bn.
The epoxy curing agents is expected to surpass a CAGR of nearly 5% from 2021-2031.
According to Fact.MR, epoxy curing agents demand is likely to be valued at US$ 1.23 Bn in 2021
The epoxy curing agents industry is expected to reach nearly US$ 2 Bn by 2031.
Extensive applications across aerospace & automotive industries to reduce vehicle weight is driving market growth
China is expected to account for 45% of the revenue for epoxy curing agents
Olin Corporation, Evonik Industries AG, Hexion Inc., Gabriel Performance Products, BASF SE, Cargill Incorporated, DIC Corporation, Mitsubishi Chemical Corporation, Showa Denko KK, Toray Fine Chemicals Co. Ltd, and Aditya Birla Corporation are prominent
Amines and Polyamines are expected to hold the highest share for sales, expanding at over 48% of market value.
The epoxy curing agents industry is expected to possess 35% of market share throughout Europe.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.