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Curing Agents Market Analysis

  • Report ID: GMI8178
  • Published Date: Feb 2024
  • Report Format: PDF

Curing Agents Market Analysis

Based on type, the market is divided into epoxy, polyurethane, rubber, acrylic and other. Epoxy held the dominant market share of USD 2.6 billion in 2023. Epoxy curing agents are favored for their excellent adhesion properties and resistance, making them a preferred choice in industries such as automotive, electronics, and construction. Polyurethane curing agents also command a notable market share, particularly in applications requiring flexibility and durability, such as in the production of flexible foams, coatings, and sealants.

Curing Agents Market Revenue Share, By Functionality, (2023)

Based on functionality, the market is categorized into accelerators, modifiers and stabilizers. Accelerators accounted for 44% market share in 2023 and is projected to grow significantly through 2032. Accelerators hold a substantial share in the market due to their crucial function in hastening the curing process. Widely employed in industries where rapid production cycles are imperative, such as automotive and construction, accelerators contribute to increased efficiency and reduced curing times.

Based on application, the market is categorized into paints & coatings, electrical & electronics, wind energy, building & construction, composites, adhesives & sealants and other. Paints and coatings emerge as a dominant application segment, holding a significant market share due to the widespread use of curing agents in enhancing the durability, adhesion, and performance of coatings across diverse industries. Building and construction applications, including concrete curing agents, contribute significantly to the market share, supporting the development of robust and long-lasting infrastructure.

Asia Pacific Curing Agents Market Size, 2021 - 2032 (USD Billion)

Asia Pacific curing agents market generated a revenue of USD 2.3 billion in 2023. The robust growth in industrial activities, coupled with rapid infrastructure development across countries like China and India, has propelled the demand for curing agents. The construction boom in the region, driven by urbanization and economic development, fuels the need for durable and high-performance materials, thereby contributing significantly to the market share. Moreover, the automotive and electronics industries in Asia-Pacific are major consumers of curing agents, leveraging these substances for coatings, adhesives, and electronic components. The burgeoning manufacturing sector, combined with increasing investments in research and development, further propels the demand for curing agents, positioning the region as a key growth hub.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Industry size for curing agents reached USD 6.8 billion in 2023 and is projected to expand at over 5.2% CAGR from 2024 to 2032 driven by increasing use in the production of coatings, adhesives, and composites for enhancing the durability and performance of these end-products.

Epoxy curing agents market size was USD 2.6 billion in 2023 and is anticipated to witness high demand through 2032 attributed to their excellent adhesion properties and resistance offered in industries, such as automotive, electronics, and construction.

Asia Pacific market size for curing agents was USD 2.3 billion in 2023 and is estimated to record substantial revenue by the end of 2032 owing to the robust growth in industrial activities, coupled with rapid infrastructure development across countries like China and India.

Some of the leading firms engaged in the curing agents industry are Alfa Chemicals, BASF SE, Cardolite Corporation, DIC Corporation, Evonik Industries, Hexion, Hunstman International LLC, Mitsubishi Chemical Corporation, Olin Corporation, Supreme Polytech Pvt. Ltd., and Westlake Epoxy.

Curing Agents Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 12
  • Tables & Figures: 250
  • Countries covered: 22
  • Pages: 300
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