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Epoxy Curing Agents Market

Epoxy Curing Agents Market

Epoxy Curing Agents Market Forecast, Trend Analysis & Competition Tracking - Global Review 2021-2031

Epoxy Curing Agents Market
FACT3057MR

Market Snapshot

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%.

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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

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.

Epoxy curing agents market by FactMR

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.

An Adaptive Approach to Modern-day Research Needs

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.

Country-wise Analysis

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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Category-wise Insights

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.

Competitive Landscape

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.

Report Scope

Attribute

Details

Market size value in 2020

USD 1.23 Billion

Market forecast value in 2031

USD 2 Billion

Growth Rate

CAGR of 4.98% from 2021 to 2031

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

Key Countries Covered

  • U.S
  • Canada
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • BENELUX
  • Russia
  • Poland
  • Brazil
  • Mexico
  • India
  • ASEAN
  • Australia
  • China
  • Japan
  • GCC
  • Turkey
  • South Africa

Key Market Segments Covered

  • Product Type
  • Application
  • End Use Industry
  • Region

Key Companies Profiled

  • Huntsman Corporation
  • 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
  • Aditya Birla Corporation
  • Rampf-Gruppe
  • Cardolite Corporation
  • Shandong Deyuan Epoxy Resin Co.
  • Kylin Chemicals Co. Ltd.
  • Incorez Ltd.
  • DOW Chemical Company

Pricing

Available upon Request

Key Segments Covered

  • Product Type

    • Epoxy Amines and Polyamines
    • Epoxy Amides and Polyamides
    • Epoxy Anhydrides
    • Phenolic Epoxy
    • Other Epoxy Curing Agents
  • Application

    • 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

- 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.