Epoxy Curing Agents Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1338
Epoxy Curing Agents Market size demand is driven by growing applications in paint and coatings industry. Superior bonding property, higher mechanical strength and corrosion resistance are the factors which are increasing product consumption.
Increasing demand from high performance resins obtained by mixture of polymer along with product in applications such as composites, electrical and electronics, adhesive, construction, paint and coatings industry will drive the epoxy curing agents market growth.
Enhancement in properties of resins are obtained by chemical mixture of polymer with product to obtain the specific enhancement in properties. This reaction of polymer along with product is known as cross linking and very strong bonds are obtained which are helpful in coating, filming and adhesive applications.
Epoxy curing agents market is segmented as amines, anhydrides which are further segmented as aliphatic, amidoamine, polyamide, cycloaliphatic, dicyandiamide of which polyamide is anticipated to dominate the industry share depending upon the higher utilization of product in paints and coatings.
Market can be further segmented as phenols and thiols. Growing specified demand from various industries such as aerospace, automotive and oil fields is anticipated to drive the industry growth of this product segment. Increasing use as a corrosion inhibitors in refineries will drive the epoxy curing agents market size.
Coating segment is projected to be the dominant segment among the epoxy curing agents market with a share of over 30%. Good adhesion property, excellent color stability and high viscosity are the key properties for industry growth.
Wind energy, electrical and electronic segment is among the fastest growing segment. Growing product penetration in renewable energy is among the major factor for rising industry demand.
The selection factor influencing the type of amine is dependent upon cost, processing requirement and end use applications. Expanding processing industry will act as another major factor for the epoxy curing agents market growth.
Rising paint and coating industry is another major driver for epoxy curing agents market growth, these are utilized to obtain hardness in paints, by reaction of base with the hardener. Depending upon the applications these are to be mixed with the polymer is decided to obtain optimum properties.
Growing construction industry is among the major factor for increasing demand for epoxy curing agents. Rising application in constructions such as increasing concrete bonding, flooring and marble laminate will further propel the epoxy curing agents market growth.
Epoxy curing agents market is expected to lead by Asia Pacific, owing to rising industrialization in chemicals and electronics industry. In addition to this, growing construction sector in the region is among the major driving factor for the industry growth. Rising disposable income in the region coupled with favorable FDI policies are among the major factor for increasing product demand.
Rising industrial development in China is among the factor for industry growth in the region. Increasing production capacities of existing manufacturing plants and product innovation are the strategies for capturing the industry share. Growing income and increasing number of end use product manufacturers in the countries such as South Korea, Malaysia and Indonesia will further drive the regional epoxy curing agents market size.
Stringent environmental regulations in the European region regarding limiting the use of volatile organic solvents may act as a challenge for epoxy curing agents market growth in region. Benzyl alcohol used as modifier is considered as VOC and content for same is regulated depending upon its usage.
Rising research and development in various new applications such as electrical laminates, maintenance coatings and marine coatings to provide customized properties according to the requirement is among the key strategies for industry growth. In addition to this, to suffice the rising demand of product, substantial investment in R&D activities is required to capture the epoxy curing agents market share in the forecasted period.
Global epoxy curing agents market share is fragmented with numerous key player including BASF, Hexicon Inc., Evonik Industries, Incorez Ltd., Momentive specialty chemicals, Huntsman Corporation and DOW Chemical Company. Other prominent players include Gabriel Performance products, Mitsubishi Chemicals, Cardolite Corporation. Brenteg specialties Inc, Aditya Birla Chemicals and DIC corporation
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