The new report by Expert Market Research titled, ‘Global Curing Agents Market Size, Share, Price, Trends, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global curing agents market, assessing the market based on its segments like types, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028):
- Historical Market Size (2022): USD 5.38 billion
- Forecast CAGR (2023-2028): 5%
- Forecast Market Size (2028): USD 7.21 billion
In the next years, demand for curing agents is expected to rise due to increased usage of epoxy healing agents in applications such as coatings, wind energy, electrical and electronics, construction, composites, adhesives, and others. The growing need for high-performance, long-lasting, and user-friendly goods is fueling the growth of the epoxy-based curing agent industry, which is boosting the overall curing agent market.
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The coatings industry is rising due to a developing economy, increased end-user industrial activity, and increased demand in the Asia Pacific region, notably from emerging nations such as China, India, Thailand, Indonesia, and Malaysia, which is assisting the expansion of the curing agent’s market.
Industry Definition and Major Segments
To harden a surface or substance, a curing agent is used. They are added to polymer surfaces so that the stronger the bond, the harder the material’s surface can make molecular component bonding easier. The main characteristic is an increase in hardness or viscosity. They are primarily made up of three types of compounds: active-hydrogen compounds, anionic and cationic initiators, and reactive cross-linkers.
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The industry can be divided on the basis of types as:
- Epoxy Curing Agent
- Amine-Based Curing Agents
- Anhydride Curing Agents
- Other Epoxy Curing Agents
- Polyurethane-Based Curing Agents
- Silicone Rubber
- Others
The industry can be broadly categorised based on applications into:
- Coatings
- Electrical and Electronics
- Wind Energy
- Construction
- Composites
- Adhesives
- Others
Based on region, the market is segmented into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
Epoxy curing agents are the most widely utilized curing agents and are predicted to account for the greatest market share over the projection period. Epoxy curing agents are used in the construction sector to make thermosetting adhesives that are resistant to the elements and have high strength. To provide architectural infrastructure and overcome construction obstacles, epoxy curing agents are employed in the development of lightweight composites for architecture and construction.
Epoxy resins are widely used as primers, sealers, and waterproofing agents to preserve concrete from moisture. Epoxy resins are utilized in concrete curing because they have excellent adhesion, dry quickly, and have high mechanical strength. Epoxy curing agents are also employed in paints and coatings for a variety of systems, including water-borne, solvent-borne, powder, and radiation-curing coatings. They improve substrate adherence, as well as corrosion, chemical, and water resistance and durability.
Epoxy curing agents are primarily utilized in the fabrication of electrical composites, in addition to coatings, because they provide good mechanical and thermal strength as well as high electrical insulation. The growing use of epoxy resins in the construction industry is fueling the expansion of the curing agent market. Due to the rising population and growing end-use industries, Asia-Pacific dominates the curing agents’ market, while North America is expected to rise in the forecast period due to the growing requirement for wind energy optimization.
Key Market Players
The major players in the market are Evonik Industries, Hexion Inc., BASF SE, Huntsman Corporation, Olin Corporation, Cardolite Corporation, Kukdo Chemical Co., Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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