IMARC Group’s latest report, titled “Epoxy Curing Agent Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global epoxy curing agent market size reached US$ 4.1 Billion in 2022. Epoxy curing agents, also known as hardeners, refer to chemicals used to cure epoxy resins by reacting with the epoxide groups or facilitating the self-polymerization of the epoxy group through catalytic action. Some of the most commonly available epoxy curing agents include anhydrides, amines, polyamide resin, imidazole, tertiary and secondary amines, and polymercaptan. They exhibit superior bonding properties, mechanical strength, electrical insulation, corrosion resistance, and chemical resistance. They are widely utilized in manufacturing adhesives and sealants, paints and coatings, and composites. As a result, epoxy curing agents find extensive applications across numerous industries, including building and construction, electronics, wind power, aerospace, and marine.
Global Epoxy Curing Agent Market Trends:
The escalating demand for epoxy curing agents from the construction industry represents the primary factor driving the market growth. Besides this, the rising residential construction activities due to the expanding global population, inflating consumer expenditure capacities, and rapid urbanization is another major growth-inducing factor. Additionally, there has been a significant increase in the demand for composites from various sectors, including automotive, manufacturing, and biomedical, owing to their excellent durability, stiffness, flexural strength, and resistance against wear, corrosion, impact, and fire. In line with this, the growing usage of epoxy curing agents in manufacturing printed circuit boards (PCBs) used in electronic products, such as smartphones and automobile electronic equipment, has augmented product demand. Furthermore, several leading manufacturers are mixing epoxy curing agents with diluents, coupling agents, fillers, and other ingredients to enhance their curing properties and workability. Along with this, the development of eco-friendly epoxy curing agents due to the rising environmental concerns and stringent government regulations has catalyzed market growth. Other factors, including the surging sales of consumer electronics, advancements in lightweight composite materials, increasing product applications in wind blade fabrications, and ongoing research and development (R&D) activities, are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 5.4 Billion by 2028, growing at a CAGR of 4.79% during 2023-2028.
- Based on the product type, the market has been categorized into amines, polyamides, anhydrides, and others.
- On the basis of the application, the market has been divided into composites, paints and coatings, adhesives and sealants, electrical and electronics, and others.
- The market has been classified based on the end user into building and construction, transportation, wind power, aerospace, marine, and others.
- Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Aditya Birla Management Corporation Pvt. Ltd., Atul Ltd., BASF SE, Cardolite Corporation, Cargill Incorporated, Evonik Industries AG, Hexion Inc., Huntsman Corporation, Kukdo Chemical Co. Ltd., Mitsubishi Chemical Holdings Corporation, Olin Corporation, and Toray Industries Inc.
|Base Year of the Analysis
| Historical Period
||Product Type, Application, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Aditya Birla Management Corporation Pvt. Ltd., Atul Ltd., BASF SE, Cardolite Corporation, Cargill Incorporated, Evonik Industries AG, Hexion Inc., Huntsman Corporation, Kukdo Chemical Co. Ltd., Mitsubishi Chemical Holdings Corporation, Olin Corporation and Toray Industries Inc.
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