Epoxy Curing Agents Market Size to be Worth USD 9.0 billion by 2031, with Notable CAGR of 6.5%

Posted by Kaustubh Ravan on April 19th, 2024

The epoxy curing agents market was valued at US$ 5.1 billion in 2022. A CAGR of 6.5% is predicted from 2023 to 2031, resulting in a market value of US$ 9.0 billion. Epoxy-curing agents with enhanced properties are likely to be developed through ongoing research and development. In addition, these advancements may improve the product's performance by improving the speed of curing, adhesion, and environmental resistance.

Increasing government spending on public works and infrastructure development provides favorable conditions for epoxy-curing agents. Sustainable and green materials are becoming increasingly popular as environmental concerns grow. Environmentally friendly epoxy curing agents may, therefore, gain popularity in the future.

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Market Segmentation

• By Service Type: The market can be segmented into polyamide, amine, anhydride, and others based on service type, with polyamide curing agents anticipated to hold a substantial market share due to their superior properties such as high-temperature resistance and excellent adhesion.
• By Sourcing Type: Epoxy curing agents can be sourced from natural and synthetic sources, with synthetic sourcing dominating the market owing to its cost-effectiveness and availability.
• By Application: The market can be segmented into coatings, adhesives, composites, and others based on application, with coatings expected to lead the market due to their widespread use in the construction and automotive sectors.
• By Industry Vertical: Industries such as construction, automotive, aerospace, electronics, and others are major consumers of epoxy curing agents, with the construction sector anticipated to exhibit significant growth due to increased infrastructure development worldwide.
• By Region: The market can be segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, with Asia-Pacific projected to witness rapid growth attributed to booming construction and automotive industries in countries like China and India.

Global Epoxy Curing Agents Market: Key Players

Prominent manufacturers of epoxy curing agents are developing curing agents for epoxy resins. Leading epoxy-curing agent companies adopt close collaborations within their industries as part of their marketing strategies.

• Huntsman International LLC.
• Westlake Chemical Corporation
• Cardolite Corporation
• Epochemie International Pte Ltd
• RPM International Inc.
• The DOW Chemical Company
• BASF SE
• Evonik Industries
• Shandong Deyuan Epoxy Resin Co. Ltd
• Royce Global
• Kylin Chemicals Co. Ltd.

Market Drivers and Challenges

Key drivers propelling market growth include growing infrastructure projects, increasing demand for lightweight materials in automotive and aerospace industries, and advancements in epoxy formulations. However, challenges such as fluctuating raw material prices and environmental concerns regarding solvent-based curing agents may hinder market expansion.

Market Trends and Future Outlook

Emerging trends in the epoxy curing agents market include the development of eco-friendly curing agents, technological advancements in epoxy formulations for enhanced performance, and strategic collaborations among key players to expand their market presence. The future outlook remains positive with ongoing research and development activities focused on improving product efficiency and sustainability.

Key Market Study Points

• Market Size and Growth Forecast
• Segmentation Analysis
• Regional Analysis
• Market Drivers and Challenges
• Market Trends and Future Outlook
• Competitive Landscape
• Recent Developments

Key Developments

• In March 2023, Westlake Corporation took part in the European Coatings Show in Nuremberg, Germany, launching its new AZURES product line. In addition to its Azures modifiers, epoxy resins, and curing agents, Westlake Epoxy also offers products that have been SVHC and CMR-free developed.
• In December 2023, BASF expanded its Geismar, Louisiana facility to produce specialty amines. The company can manufacture more Baxxodur ® and Lupragen TM polyetheramines and amine catalysts.

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