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.
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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.
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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.
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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).
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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.
Epoxy Hardener Market: Segmentation
Fact.MR has studied the epoxy hardener market with detailed segmentation on the basis of product group, type, form, application, end-use industry, and region.
- Amino Amines
- Aliphatic Amines
- Cycloaliphatic Amines
- Aromatic Amines
- Special Hardeners
- Slow Epoxy Hardeners
- Medium Epoxy Hardeners
- Fast Epoxy Hardeners
- Solvent-based Epoxy Hardeners
- Waterborne Epoxy Hardeners
- Paints & Coatings
- Electrical and Electronics
- North America
- Latin America
- East Asia
- South Asia & Oceania
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”
Epoxy Hardener Market- Scope Of The Report
The recent study by Fact.MR on the epoxy hardener market offers a 10-year forecast for 2020 and 2030. The study analyzes crucial trends that are currently determining the growth of the epoxy hardener 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 the manufacturing of epoxy hardeners. The study also provides dynamics that are responsible for influencing the future status of the epoxy hardeners market over the forecast period.
A detailed assessment of the epoxy hardener market 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 hardener market along with their product portfolios enhances the reliability of this comprehensive research study.
Epoxy Hardener Market: Report Summary
The study offers a comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales in the epoxy hardener market across the globe.
A comprehensive estimate on the epoxy hardener market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of epoxy hardeners during the forecast period. Price point comparison by region with global average price is also considered in the study.
Epoxy Hardener Market: Analysis on Market Size Evaluation
The epoxy hardener market has been analyzed for each market segment in terms of volume (kilo tons) and value (US$ Mn).
Market estimates at global and regional levels for epoxy hardeners are available in terms of 'US$ Mn' for value and in 'kilo tons' for volume. A Y-o-Y growth contrast on prominent epoxy hardener 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 sales and distribution perspectives in the global epoxy hardener market.
Epoxy Hardener Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the epoxy hardener 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 hardener market during the forecast period.
Country-specific valuation on the demand for epoxy hardeners has been offered for each regional market, 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 and volume for emerging countries has also been included in the report.
Epoxy Hardener Market: In-depth Analysis on Competitive Landscape
The report sheds light on the leading manufacturers of epoxy hardeners, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of epoxy hardeners 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.
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