Epoxy Hardener Market Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2020 to 2030

Epoxy Hardener Market Insights

The global epoxy hardener market is set to witness impressive growth in the coming years, backed by increasing demand as painting and coating agents in the automotive and electronic industry. Epoxy hardeners are used with epoxy resins in a number of applications such as adhesives, composites, paintings, and coatings. The market for epoxy hardeners is primarily driven by trends in industries such as construction, aerospace, marine, home décor, and electronics. Furthermore, increasing awareness toward 3D flooring and furniture décor will create numerous opportunities for players in the epoxy hardener market over the forecast period of 2020-2030. Increasing number of wind energy projects is also seen as an important factor affecting the demand for epoxy hardeners. The need for electrical conductive glues in the electrical and electronics industry is also creating additional demand for epoxy hardeners. The aforementioned factors will lead the global epoxy hardener market size to expand at an impressive CAGR of 6% through 2030.

Epoxy Hardener Market Product Group Analysis

Polyamide-based epoxy hardeners provide epoxy resins with excellent corrosion & water resistance, flexibility, and toughness. These advantages have enabled polyamide-based epoxy hardeners to be used in numerous applications associated with adhesives, coatings, putties, sealants, and electrical encapsulation. The polyamide-based epoxy hardeners segment is poised to progress at a CAGR of 5%, to be valued over US$ 1 Bn by 2030 end. However, aromatic amine-based epoxy hardeners offer higher heat distortion temperature, long pot life, and better chemical resistivity. These hardeners find usage mainly in tank lining and oil storage for the maintenance of coatings in a corrosive environment. The amino amide-based epoxy hardeners segment is expected to expand at an impressive CAGR of nearly 7% through 2030.

Epoxy Hardener Market Analysis by Application

With properties such as resistance to fatigue and fabrication flexibility, epoxy hardeners as composites offer numerous advantages, such as temperature and corrosion resistance to which epoxy solution they are applied. These characteristics have resulted in epoxy hardeners being used in numerous products of end-use industries, including automotive, heavy engineering, and marine. The market for epoxy hardeners as adhesives is expected to create and absolute $ opportunity of US $ 390 Mn over the forecast period, accounting for nearly 23% of the global market share by 2030.

Epoxy Hardener Market Analysis by Type

Controlling the cure timing of epoxy hardeners is one of the important aspects that must be taken into consideration while mixing hardeners with resins. Fast epoxy hardeners require shorter time to settle as compared to other alternatives. However, slow and special clear hardeners require a longer time duration to settle with epoxy resins; ultimately, the settling time depends on application usage of the hardener. Being used for general bonding, applying fabric, and barrier coating, the fast epoxy hardeners segment is expected to create absolute $ opportunity of around US$ 490 Mn over the forecast period. Furthermore, special hardeners are also used in applying fabric, clear finish, general bonding, and barrier coating in electrical & electronics, power, and marine industries. This segment is expected to expand at a CAGR of 5.5% through 2030.

Regional Outlook of Epoxy Hardener Market

East Asia is seen as most the lucrative region in the global epoxy hardener market, backed by high growth in the consumer electronics industry as well as increasing demand from automobile and construction industries over the forecast period. Regional trends and regulatory policies play an important role in the development of the epoxy hardener market. The North America epoxy hardener market share is expected to continue its impressive upward trajectory, on the back of increasing industrial automation and mounting demand from the consumer electronics segment. The U.S. epoxy hardener market is poised to expand at a CAGR of 5% through 2030.

Analysis of COVID-19 Pandemic on Epoxy Hardener Market

Nearly all countries have imposed lockdowns and strict social distancing measures due to the COVID-19 pandemic. This has disrupted production at the plants of key-end user companies across the globe. Consumer electronics and construction industries are important end users of epoxy hardeners. A decline in production has limited the market scope for epoxy hardeners. The pandemic has also generated massive disruptions in demand-supply across multiple industries, causing a global economic meltdown.

North America is one of the most affected regions by the recent COVID-19 outbreak, which has caused a decline in demand for consumer electronic products. This has subsequently decreased the demand for epoxy hardeners. Currently, European countries such as Germany, Italy, and the UK are some of the most affected countries by coronavirus, which will negatively affect market growth in the short term. It is imperative to note that, these aforementioned regions have experienced a stiff decline in demand for epoxy products as an aftereffect of halted construction activity and paused demand from the marine and automotive industry. A second wave of coronavirus cases in eased-up regions would hamper the market over the coming period.

The Analyst’s Viewpoint

“Progress of the epoxy hardener market is set to gain traction as an aftereffect of growing end-use industries such as consumer electronics and construction.”

Epoxy Hardener Manufacturers: Key Players Focusing on Product Portfolio Management and Capacity Expansion

Key players in the epoxy hardener market are increasing their production capacities in order to meet mounting demand from the automotive, power, marine, and construction sectors. With capacity expansion, companies are looking for collaborations with global suppliers to ensure their global presence. Furthermore, key players in the epoxy hardener market are also focusing on product portfolio management and product innovation, and are looking to launch products with better specifications with respect to application usage and end-use industry. For instance, in 2019, Evonik launched a new epoxy hardener VESTALITE®, which improves the technical properties and workability of high-performance sheet molding compounds (SMCs).

Epoxy Hardener Market: Scope of the Report

Fact.MR has published an exclusive forecast report for the epoxy hardener market (2020 and 2030). The foremost objective of this report on the epoxy hardener market is to pitch spearhead insights on the market scenario, demand generators, and technological advancements in the epoxy hardener market. The study also addresses the key dynamics that are expected to diversify the sales and future prominence of the epoxy hardener market.

The report on the epoxy hardener market begins with an executive overview, in which product definition has been provided. The report further proceeds with the taxonomy of the epoxy hardener market, elaborating on key segments. The report also outlines visionary insights on the dynamics of the epoxy hardener market, including drivers, restraints, opportunities, trends, and pricing analysis, along with key buying factors for epoxy hardeners. Supply chain analysis and pricing analysis of the epoxy hardener market, along with the difference between epoxy hardeners used as per application, has also been included in the report to help readers clearly understand the product framework map in the epoxy hardener market.